These Terms of Use are the agreement between you and FakkaPay for using the FakkaPay app and its services. They explain what you can expect from us and what we expect from you, so please read them carefully.
Effective date: 26 September 2026
Accepting these terms
By creating a FakkaPay account or using the app, you agree to these Terms and to our Privacy Policy, which explains how we handle your personal data. If you don’t agree, please don’t use FakkaPay.
In these Terms, “FakkaPay”, “we” and “us” mean the provider of the FakkaPay app and services, and “you” means the account holder. Details shown in the app when you use a feature — such as fees, limits and order details — also form part of our agreement.
Who can use FakkaPay
You can open a FakkaPay account if:
- you live in Egypt — FakkaPay is available in Egypt only, and all amounts are in Egyptian pounds;
- you’re at least 18 years old;
- you have an Egyptian mobile number and a valid Egyptian national ID for identity verification; and
- you’re opening the account for yourself, not on behalf of someone else.
You may have only one FakkaPay account. The information you give us must be true and complete — use your name exactly as it appears on your national ID — and you must keep your email address and mobile number up to date in Profile → Personal information. We may refuse to open an account if we can’t verify your identity or if the law requires us to.
Your account and its security
- Keep your passcode secret. Don’t share your passcode or the codes we send you by SMS with anyone. FakkaPay staff will never ask for them.
- Use biometrics carefully. Only turn on Face ID or fingerprint sign-in if the faces or fingerprints saved on your phone are yours alone — anyone saved on your phone could approve payments.
- Protect your phone. Use a screen lock, keep your phone’s software up to date, and install FakkaPay only from the App Store or Google Play.
- Tell us straight away if your phone is lost or stolen, or if you think someone else knows your passcode or has used your account. Sign in on another phone and sign out the lost one in Profile → Security, freeze your card in Wallet → Cards & accounts, and contact us at [email protected] or through the in-app chat.
We treat payments, transfers and orders approved with your passcode or biometrics as made by you. If you tell us your account may be compromised, we’ll act quickly to protect it — for example, by signing you out of every device or freezing your account.
Identity verification and limits
The law requires us to know who our customers are. You can verify your identity in Profile → Documents & KYC by providing your national ID, a selfie, your tax information and proof of address. We may ask for more information at any time where the law requires it, and we may limit or freeze your account if you don’t provide it.
Until your identity is verified, lower limits apply and some features, such as investing and bank withdrawals, may not be available. Your account has daily and monthly limits on transfers, bank withdrawals, top-ups and card spending. You can see your limits and what’s left in Profile → Limits: daily limits reset at midnight and monthly limits on the 1st of each month. We may change limits to meet legal requirements or manage risk, and the current limits are always shown in the app.
Payments, top-ups, withdrawals and fees
Your wallet
Your FakkaPay balance is held in Egyptian pounds and is split into your cash wallet, your investment cash and any pending amounts (money on hold, for example for a withdrawal being processed). Moving money between your cash wallet and investment cash is instant and free.
Approving transactions
Adding, sending, withdrawing and transferring money, paying bills and placing investment orders each need your approval with your passcode or biometrics. Before you approve, the review screen shows the amount, any fee and the total. Check the details — especially the recipient or account number — before you approve.
Adding money
You can add money from a linked bank account, through InstaPay, with a debit card, or in cash at a Fawry outlet. For Fawry, the app gives you a payment reference that’s valid for 24 hours, and the money is added once your payment is confirmed. We add money to your balance only once we receive it.
Sending and receiving money
You can send money to other FakkaPay users by @username, mobile number, FakkaPay ID, QR code or payment link, and ask to be paid by sharing your QR code or payment link. Transfers between FakkaPay users are instant, so they usually can’t be reversed. If you send money to the wrong person, contact us immediately — we’ll try to help, but we can’t guarantee the money will be returned.
Paying bills
Bill payments go to the biller you choose, using the account, meter or phone number you enter. Make sure these details are correct: we can’t always recover a payment made to the wrong account.
Withdrawals
You can withdraw only to a bank account in your name. While a withdrawal is processed, the money is on hold and shows as pending. Withdrawals usually arrive within one business day, but we may need to review a withdrawal before sending it. If a withdrawal can’t be completed, the money is returned to your cash wallet and we’ll let you know.
Your virtual card
Keep your virtual card’s details secret. They’re shown only after you approve with your passcode or biometrics. You can freeze and unfreeze the card at any time in Wallet → Cards & accounts, and card spending counts towards your card limit.
Fees
Our fees are shown in the app before you confirm a transaction, and by approving it you agree to pay them. We may change our fees, but a change applies only to transactions you approve after the new fee is shown in the app — never to ones you’ve already approved.
Errors and corrections
Check your activity regularly and tell us promptly about anything you don’t recognise. If money is added to your account by mistake or a transaction is recorded incorrectly, we may correct your balance, and we’ll tell you when we do.
Investing
What you can invest in
FakkaPay lets you buy and sell stocks and exchange-traded funds (ETFs) listed on the Egyptian Exchange (EGX), digital gold priced per gram at the local 24-karat rate, and investment funds. You invest from your investment cash, and the proceeds of sales and redemptions go back to it. You can sell digital gold during market hours.
Orders
- A market order is executed at the best available price, which may differ from the price you saw when you placed it.
- A limit order is executed only at your limit price or better, so it may never be executed. The money for a limit buy order is held until the order is executed or cancelled. You can ask us to cancel a limit order that hasn’t been executed yet.
- Fund subscriptions and redemptions are based on the fund’s net asset value (NAV) per unit.
EGX trading sessions run Sunday to Thursday, 10:00–14:30 Cairo time, except on days the exchange is closed. Prices can change between placing an order and its execution. We may stop offering an instrument — for example, if trading in it is suspended or it’s delisted.
Risk
Investing carries risk. Prices can go down as well as up, and you may get back less than you invested. Past performance doesn’t guarantee future returns. Returns, charts and risk levels shown in the app are for information only, and market data shown in the app may be delayed or illustrative rather than live.
No investment advice
FakkaPay doesn’t give investment advice or personal recommendations. Information such as market sentiment, top movers, sector summaries and fund risk levels is general information, not advice. You decide what to buy and sell; if you’re unsure, consider getting independent financial advice. You’re responsible for any taxes due on your investment income or gains, except where the law requires us to deduct them.
Rewards and referrals
You can earn rewards points — for example, by paying bills, investing and referring friends — and move up through the Silver, Gold and Platinum tiers, each with the benefits shown in the app. Points aren’t money and can’t be exchanged for cash or transferred.
When a friend signs up with your referral code, verifies their identity and makes their first top-up, you both receive the referral reward shown in the app at that time.
We may change, suspend or end rewards, tiers, benefits and referral offers at any time, and the current rules are always shown in the app. Rewards already credited to you remain yours, unless they were obtained by breaking these Terms — for example, through fake accounts or by referring yourself.
Acceptable use
When you use FakkaPay, you must not:
- break the law, including laws against money laundering, terrorist financing and fraud, or pay for anything illegal;
- use another person’s identity, account or payment details, or let anyone else use your account;
- open more than one account or give false information;
- try to get around our security, limits or verification, or interfere with the app or our systems — for example, by hacking, automated access or reverse engineering, except where the law allows it;
- use payment notes or support chats to harass, threaten or deceive anyone; or
- misuse rewards or referrals.
The FakkaPay app, name and logo belong to us. We give you a personal, non-transferable right to use the app while your account is open and you follow these Terms.
Suspending or closing your account
If you want to leave
You can delete your account at any time in Profile → Security → Delete account, or by emailing [email protected] from the email address registered on your account. Your account is closed immediately, you’re signed out of every device, and any open limit orders are cancelled. We recommend withdrawing your balance to your bank first; any money left in your account is returned to you by our support team. See how account deletion works, including what we must keep by law.
If we need to act
We may freeze your account, or parts of it, if we suspect fraud, unauthorised use or illegal activity; if the law, a court or a regulator requires it; if you break these Terms; or if you don’t give us information we need to verify you. While your account is frozen you can still see it, but payments and transfers are paused. We’ll tell you why when we can, unless the law prevents us.
We may close your account for the same reasons, or if we stop offering FakkaPay, giving you notice where we can. When an account is closed, we return any money you’re entitled to, unless the law requires us to hold it. Closing an account doesn’t cancel obligations that arose before it was closed.
Availability and changes
We work to keep FakkaPay available at all times, but it may be unavailable during maintenance or updates, or because of problems outside our control — for example, with banks, payment networks, billers, the exchange, mobile networks or your internet connection. You may need to update the app to keep using it.
We may add, change or remove features, and we may update these Terms. We’ll publish the new version on this page with a new effective date and, for important changes, tell you in the app or by email before they take effect. If you keep using FakkaPay after that, the new Terms apply; if you don’t agree, you can close your account.
Our responsibility to you
We provide FakkaPay with reasonable care and skill, and if a transaction goes wrong because of our mistake, we’ll put it right. To the extent permitted by Egyptian law, we aren’t responsible for:
- losses caused by changes in market prices or by your investment decisions;
- losses caused by you sharing your passcode or SMS codes, not keeping your phone secure, or giving us wrong details, such as the wrong recipient or account number;
- delays or failures caused by banks, payment networks, billers, the exchange or other third parties, or by events beyond our reasonable control; or
- indirect losses, such as lost profits or lost opportunities.
Nothing in these Terms limits our liability for fraud or gross negligence, or any liability that Egyptian law doesn’t allow us to limit.
Governing law and disputes
These Terms are governed by the laws of the Arab Republic of Egypt. If you have a complaint, please contact us first so we can try to resolve it. If we can’t, the competent courts of Cairo will have jurisdiction. These Terms are available in English and Arabic; if the two versions differ, the Arabic version applies.
Contact us
Email [email protected] or chat with us in the app from Profile → Help & support, every day from 9 AM to 9 PM (Cairo time). For privacy questions, email [email protected].