Remit Launches Direct Account Deposit for Remittances in Egypt via Western Union Network
Remit, a prominent money transfer company in Egypt, has announced the launch of its Account Payout Network (APN) direct deposit service for inbound remittances following approval from the Central Bank of Egypt (CBE). The service enables customers abroad to transfer funds directly into beneficiaries' bank accounts or digital mobile wallets in Egypt through Western Union’s global financial network.
Western Union’s global network spans more than 200 countries and territories, comprising hundreds of thousands of retail agent locations alongside an extensive suite of digital channels, allowing senders to remit funds across diverse platforms.
Direct Deposits Without Branch Visits
The newly launched service provides a faster and more seamless experience for customers, allowing remitters abroad to route transfers directly into the bank account or electronic wallet of the recipient in Egypt, where funds are credited instantly upon dispatch.
Under the new mechanism, beneficiaries are not required to visit a Remit branch or undergo additional collection procedures, receiving immediate notification once the deposit is completed.
The company stated that this rollout marks a key milestone in upgrading money transfer services, accelerating remittance delivery, and providing greater flexibility while maintaining full compliance with regulatory directives issued by the Central Bank of Egypt.
Serving Over One Million Customers Annually
With roughly 30 years of operational experience in the money transfer sector, Remit currently serves over one million customers annually. The company executes more than four million transactions per year, with inbound remittances exceeding $2.4 billion, supported by a network of 177 service locations across Egypt.
Dr. Mostafa Sarhank, Executive Chairman of Remit, stated that launching the direct deposit service in collaboration with Western Union represents a significant strategic step toward enhancing money transfer solutions and offering more efficient experiences to customers. He added that this achievement reflects Remit’s continued commitment to innovation and adapting to evolving customer demands, reinforcing its position as a trusted partner while adhering to rigorous standards of quality and regulatory compliance.
Routing Transfers via Western Union Channels
Abdullah El-Sada, Managing Director of Remit, noted that the service was specifically designed to streamline both the sending and receiving process. He explained that overseas customers can now transfer funds directly to beneficiaries' bank accounts or digital wallets in Egypt via any of Western Union's global access points, whether through retail locations or online digital channels.
El-Sada added that once sent, funds are deposited immediately into the recipient's account or wallet without requiring further verification steps or physical visits, emphasizing that simplifying the customer journey remains a core priority of the company's service roadmap.
Expanding Digital Financial Capabilities
Ismail Sarhank, Deputy Managing Director of Remit, highlighted that the launch aligns with the company's broader strategy to expand its digital services ecosystem. He explained that Remit aims to leverage technology to deliver higher operational efficiency, accelerate execution, and enhance reliability amid rapid transformations across the financial services and fintech sectors.
The company reaffirmed that rolling out direct account deposits underscores its dedication to advancing digital solutions that meet the expectations of domestic and expatriate clients alike, providing swift and flexible remittance channels anchored by robust security and regulatory standards.