6 Most Popular Banking Card in Egypt

There are many banking cards available on the market. Some are connected to a bank account, some are prepaid, while others are pension or salary cards. As time went by these cards have become an essential part of our lives to the point that some don’t use cash anymore and only use their bank cards.

The 6 Most Popular Card Types Are:

Debit Cards:

These cards are connected to either a saving or current bank account. When used the money is deducted directly from the bank account. Debit cards can be used at ATMs (both to withdraw and deposit money) and to make purchases. 

If you don’t have enough balance in your account the transaction will be declined.

Credit Cards:

Unlike debit cards they are not connected to a bank account. Credit cards are used primarily to make purchases either online or on premise. The withdrawn amount becomes a debt you have to pay back to the bank plus interest. The grace period differs from one bank to another but is usually between 45-58 days. Some banks will offer rewards and discounts if you frequent one of the merchants they collaborate with.

Apply for a credit card with Faydety now!

Internet Credit Card:

These are cards for online transactions only. Since they are not connected to a bank account you have to pay back the debt incurred just like a credit card.

Meeza is the 1^st Egyptian e-national payment card.

Prepaid Cards:

Prepaid cards are empty cards that are acquired from the bank and it is up to the client to “charge” them by putting money in the card. They can be used for both online or on-premise purchases. There is no debt incurred since the card will not be function if it is empty.

Payroll Cards: 

Issued by employers these cards are used for payroll every month. They can be used to pay bills or to make purchases just like a debit card. However, the employee must go through the company delegate if they need to communicate with the bank as the card technically is owned by the employer not the employee. If the card is lost it can not be replaced easily and the account number cannot be changed.

Meeza Card:

The 1^st Egyptian prepaid e-national payment card. It was first introduced in May 2019 and is available for anyone over the age of 16 as it is not connected to a bank account. Meeza is available through 6 Egyptian banks for a nominal fee and has a 2-year validity. The card can be charged through the issuing bank’s branches or ATMs.

The primary benefit of the card is to reduce cash transactions. You can even use it to pay for any governmental financial transaction over 500EGP and can use it at any POS (point of sale) machine. The card also offers the same benefits of a Visa or MasterCard but only in Egypt and it cannot be used for online transactions.

There are 2 types of Meeza card:

1. Prepaid card “Karty”: can be issued at any of the participating banks with just your national ID card. The card is received the same day.
2. Government prepaid card for payroll: this card is one of the steps implemented by the government to reduce cash transactions. The same card is also issued for pensions.