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EG-ACH Direct Credit

Introduction


Direct Credit is a quick, easy and convenient method of making deposits into a beneficiary's account whenever this beneficiary’s account is in your bank or any other bank in Egypt.
 
Bank customer whenever is individual or corporate could rely on the EG-ACH Direct Credit to do domestic transfer (deposit) to the beneficiary’s bank account with the Egyptian Pound Currency (EGP), EG-ACH have the capabilities to settle the transferred funds on same day value or forward day value based on the Direct Credit window timing announced by EBC.
 
Currently you can send Direct Credit payment transfer to a beneficiary with same day value settlement which means that the beneficiary bank is obliged to post the funds into the beneficiary account before on the same day of initiating the transaction by the Originator


Direct Credit Participants

The Originator: is the Customer who initiates Credit transactions through the originator bank

The Originator Bank: is the Participant that receives the Credit payment instruction from the Originator and submit it to EG-ACH

The EG-ACH Operator: Provider of the inter-bank clearing of the payment instruction

The Beneficiary Bank: is the Participant that receives the Credit payment instruction from the Originator Bank and Credit the account of the beneficiary

The Beneficiary: is the Customer (individual or Corporate) who Receive funds in his bank account due to the Direct Credit transaction initiated by the Originator

Direct Credit Workflow
How the Direct Credit Works?
  1. The Originator submits a Direct Credit instruction to the Originator Bank
  2. The Originator bank debit the account of the Originator with the total amount of Credit transactions
  3. The Originator Bank shall submit the transaction to
  4. EG-ACH routes the Direct Credit instruction to the Beneficiary bank
  5. The Beneficiary bank credits the beneficiary’s account
Direct Credit Usage

  • Customer-initiated transactions (e.g., money transfer)
  • Corporate-to-Corporate payments (supplier payments, etc…)
  • Payrolls-private and government
  • Pensions-private and government
  • Government supplier payment
  • Dividends
References

  1. EG-ACH Direct Credit Quick References
  2. EG-ACH Direct Credit Presentation
  3. EG-ACH Direct Credit Window timing