NATIONAL PAYMENT SCHEMES
EG-ACH
The Multi-currency Automated Clearing House
EG-ACH is a centralized national scheme implemented for all banks operating in Egypt to harmonize the interbank high-volume electronic transfer.
With powerful capability, the ACH supports banks, financial institutions, enterprises, and enables the government to process high-volume, bulk and repetitive electronic transactions.
In April 2022 the multi-currency (USD and EUR) payments were enabled, allowing the electronic transfer of financial transaction in foreign currencies, reducing cost and time for these types of transactions amongst banks.
Financial Institutions
Transactions
EGP
Enterprises
Types Of
ACH Transfers
Developed & Operated by EBC, EG- ACH provides a robust, secure and highly scalable scheme for member banks, which provides bulk transaction processing capabilities.
Ach Debit
Financial institution
conducts withdrawal
Ach Credit
Originator requests
deposit
A Cornerstone to National
Payments Ecosystem
The ACH is a key enabler for the banking system in Egypt, supporting the clearing of inter-bank transactions among participating financial institutions through the exchange of electronic transactions in batches of Direct Debit and Direct Credit payment instructions.
The Automated Clearing House (EG-ACH) service for Direct Credits and Direct Debits ensures effective management of the financial risks of payments in the banking system, and supports the financial transfers in a secure manner that conforms to the best international standards.
- Customizable & Secure.
- High Volume Processing Capability.
- Mandate Management System.
- Multilevel Data Validation.
Common Uses of
ACH payments
The ACH platform is increasingly supporting banks’ creative offerings. Many products were possible via the ACH such as transfers to individuals and corporate products, salary transfers and supplier payments.
The “direct debit” also supports the payment of bills to service companies, the payment of various periodic financial orders, loan installments and real estate installments, offering an ideal solution for electronic collection of invoices and installments.
The solution renders ease and speed of electronic collection by direct debiting bank.
For the government sector, the ACH also holds a lot of potential; allowing the automation of bank transfers either for distribution of government salaries and pensions or for suppliers’ payments.
Customers paying a service provider
Employers depositing money to an employee’s checking account
Customers moving
funds from one bank
to another.
Businesses paying
suppliers for products
Taxpayers sending
funds to the IRS or local
organizations online
A key Pillar for Financial Inclusion and Economy Digitization
The Automated Clearing House (EG-ACH) serves as pillar for the national economy; accelerating the capital cycle and contributing to economic growth.
Both citizens and the banking sector have benefited from the ACH, by reducing the prices of banking services, speed and accuracy in completing financial transactions, reducing the risks of banking transactions and credit risks in payment systems.
Also, providing new services suitable for modern lifestyles such as electronic payment tools, which increases the confidence of investors and users of banking services.
The ACH has become an indispensable mechanism for the banking sector to foster financial inclusion in line with directions from the Central Bank of Egypt. Several initiatives were availed via the ACH:
- Automation of government payroll and pension.
- National Social Insurance Authority beneficiaries’ refunds service.
- National Social Insurance Authority beneficiaries’ rigid amounts service.
- Corporate Payments Service “CorPay”.
- Automation of government payments to suppliers.
