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Instant Payment Network (IPN) Frequently asked questions 

Table of contents:

About IPN

1. What is IPN?

Instant Payment Network (IPN) is a new payment method, owned by Egyptian Banks Company, that allows real time instant fund transfers between different bank accounts inside Egypt, as well as direct access to all accounts using a single application through your mobile device.

2. What are IPN services?

IPN allows customers to send or receive money instantly:

1. Send money instantly using payee’s account number, IBAN, IPN registered mobile number or Instant Payment Address (IPA), digital wallet, cards

2. Raise a collect money request using payer’s IPA or mobile number

3. View transaction history or account statements

4. Bill Payment

3. What is IPA?

Instant Payment Address “IPA” is a simplified unique address for your account per application which you can use to receive money on IPN. 

4. What is IPN PIN?

IPN Pin is a 6-digit number that is set by the customers per account for authenticating all transactions done on the IPN network. 

5. Who can benefit from IPN?

All bank customers that have a bank account and hold a debit card can benefit from the IPN services by onboarding to the InstaPay Application. 

6. What accounts can I access?

Current, savings and overdraft accounts.

Registration on IPN

7. How do I register myself?

  1. download the application (currently InstaPay) on your mobile device’s application store
  2. revise the application Terms and Conditions before approving it
  3. whilst going through the introductory steps you will need to select the bank account that is registered with your current mobile number
  4. you will be then asked to create a unique IPN account  and a pin that will only be accessible through your mobile device.
  5. create IPA address for the selected account

8. What happens after registration?

Once your mobile number is verified, you will have to select your bank account, add your account, set your IPA and set your IPN PIN.

9. I can see my bank, but I cannot see my account number. What now?

You need to make sure that the mobile number you have used during registration is the same mobile number registered with your accounts in the bank, if not you may need to visit the bank and update your information. EGP accounts only can be registered on the application.

10. How many accounts can I link?

There is no limit to the accounts you can link. However, all accounts must have the same mobile number registered to them with your bank or they will not show in your choices.

11. How many IPAs can be added?

Each application allows you to create one IPA for each account so you can have any number of IPAs based on the number of accounts you have in different banks and number of IPN related applications used. Currently there is only one application offering instant payment services (ie. InstaPay)

Paying money

12. To whom can I send money?

You can send money to any IPN enabled banks, bank accounts/IBANs (personal or corporate), IPA, IPN mobile numbers , wallets, cards.

13. I have multiple accounts linked. Which accounts can I use to send money?

You can choose any account to send money from by selecting the eligible accounts from the list displayed on the application. 

14. What beneficiary details do I need to send money?

Users can send money by using any of the following beneficiary details:

  1. Account/IBAN numbers
  2. IPN registered mobile number which is linked to the IPA.
  3. Instant Payment Address (IPA)
  4. Digital wallets
  5. Card numbers

15. Is there a limit to the amount of money that can be sent?

Yes, limits are as follows and is applicable per bank:

EGP70K per transaction

EGP120K per day

EGP400K per month

Receiving money

16. How can I receive money through IPN?

A payer can initiate a transaction to your IPA or registered mobile number. You can also create a collect money request on the application by providing payer details.

17. What is collect money?

You can create a request to a payer through his IPA or IPN mobile number requesting an amount of money to be paid.

The payer can either decline the request or accept it.

18. When I am receiving money on my mobile number and I have multiple accounts, how do I know which account the money will be credited to?

The money that you will receive will be sent to the account which you have set as your default account.

Queries related to transactions

19. I have sent money but the transaction failed and my account is debited. What should I do?

Your account should be credited back with the amount within few minutes. You can also contact the bank with your transaction reference number to track your transaction.

20. I have sent money to an IPN user, and they claim they did not receive the money?

If your transaction has failed, you will receive the refund. There could be a delay due to some technical issues. Please check with the bank using the transaction reference ID to track the transaction. You can also provide the transaction reference ID to the payee and encourage him/her to check with their bank.

For any technical issues related to the application, please refer back to the owner of the application.

21. Money sent to wrong receiver. Can I reverse the transaction?

A successful transaction cannot be reversed.

22. Are there any charges applied to the customer for using IPN services.

Currently no charges are applied.

In case charges will apply in the future, this will be announced to our customers. 

23. What happens if my debit card PIN was wrongly entered several times whilst registering?

  • you have 3 attempts to enter the correct PIN
  • if you failed to enter the correct PIN, after 3 failed attempts the debit card PIN will be blocked from registering on IPN Network
  • on the next incorrect PIN attempt, you will receive an error message/and SMS
  • for unblocking debit card PIN to be able to register to IPN again, you will have to perform a successful purchase/ATM transaction with the correct PIN
  • if you are unable to recall the correct PIN, you will need to reset by contacting our call center.

24. Can IPN transactions be made in local and foreign currencies?

No, Egyptian Pounds only.

For IPN terms and conditions, please refer to the general bank terms and conditions

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