Thursday 27/March/2025 – 12:08 AM
Many citizens and users of the Instabai application for instant payments are wondering about the details of the fees that will be imposed on financial transactions via the payment network, after the central bank officially announced the start of the application of these new fees as of next April 1, and these fees are the first of their kind in three years, which raised questions and great interests among the users of the application.
Imposing fees on financial transactions via the Instabai network
The Central Bank had confirmed earlier that it had been decided to impose fees on financial transactions that take place through the Instabai network, after a long period of free transactions, noting that this step comes within the framework of organizing the financial sector and updating the electronic payment system in a manner commensurate with developments in this field.
Many users hope that these fees will be moderate and suit the size of the services provided via the Instabai network, which is one of the most important means used for financial transfers and instantaneous payments between individuals and companies.
According to a statement Instagabay instant payments network, estimated The new fees are about 0.1% of the value of the amount to be transferred, with a minimum of 50 piasters, and limit the maximum 20 pounds during one operation.
For example, when transferring an amount of 500 pounds, the financial fees are estimated at this transaction only 50 piasters, and when transferring 1,000 pounds, the value of the fees is estimated at one pound, and when transferring 5 thousand pounds, the customer will pay a fee of about 5 pounds, and when transferring the amount of 20 thousand pounds or above, the value of the fees is estimated at the maximum of 20 pounds.
With regard to the possibility of inquiring about the balance on Instabai, the network announced the availability of inquiries for 10 times for free during one month, for each. Customer, provided that a fee of 50 piasters is applied to each additional inquiry.
