Tuesday 25/March/2025 – 10:18 PM
Many citizens and users of the Instabai application for instant payments are wondering about the details of imposing fees on financial transactions via the Instabai payments network, after the central bank officially announced the start of the application of the new fees from next April, for the first time in 3 years.
Full details of the conversion fees via the Instabai application
First: the value of the fees
According to an official statement, the instant payments network set the new fees for conversion through the Instabai application to be 0.1% of the transaction value, with a minimum of 50 piasters, a maximum of 20 pounds per treatment.
The process of inquiring about the balance
The application provides 10 inquiries about the balance or the short account detection for every customer, provided that a fee of 50 piasters is applied to each additional inquiry.
The move comes in light of the great expansion that the Instabai application has been witnessing since its launch in April 2022, where transfer and inquiry services have been provided for free for the past three years.
This announcement comes within the framework of the network’s continuous commitment to providing innovative and effective digital financial services that meet the needs of users, to ensure the development of the service and sustainability.
The network confirmed the commitment of Instabai to provide competitive digital financial solutions, while providing multiple support channels to help customers in any inquiries related to new fees through official application channels, while emphasizing following the highest standards of transparency by clarifying the fees due on transactions through the application before implementing them.
It is noteworthy that the number of Instabai application users reached 12 million users by the end of 2024, and through this update, the network aims to support the development of digital infrastructure and work to launch new services and features that meet the needs of users, and ensure that network services continue to provide the highest international quality standards, in line with the vision of the Central Bank of Egypt towards digital transformation.
