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Due to the high expats population in the UAE, international transfers and remittances are also higher compared to other nations. Following this, one can find a wide variety of ways to transfer money internationally in the UAE.
As per the UAE Central Bank, most beneficiary families are from India, the Philippines, the UK, and the US. Several online money transfer modes are available within the country, including digital transfers, online banking, and exchange houses. On top of that, various licenced banks in UAE provide money transfer services that are popular due to their high-quality services as well as ease of use and safety.
The article here will discuss the UAE banks that specifically allow expatriates to transfer money from the UAE to their home countries without any hassle.
To begin with, let’s have a look at the list of the top 10 banks in the UAE that allow expatriates to transfer funds outside the country –
|Bank||Money Transfer Service Name|
|Abu Dhabi Islamic Bank||
|Abu Dhabi Commercial Bank||
|Standard Chartered Bank||Money Transfer|
|Dubai Islamic Bank||Foreign Currency Funds Transfer Service|
|First Abu Dhabi Bank||Money Transfer Service|
|Emirates Islamic Bank||Money Transfer Service|
DirectRemit is a service by Emirates NBD using which customers can directly transfer money to their home country without any charges in an instant. You can initiate the DirectRemit transaction via online and mobile banking. Currently, the option is available for transferring funds to India, the Philippines, Pakistan, Sri Lanka, Egypt, and the UK.
The following are the key features of DirectRemit transfer:
|Country||Maximum Remitting Amount|
|United Kingdom||GBP 25,000|
|Sri Lanka||LKR 999,999|
The segment limit that applies to the maximum remittance amount is as follows:
|For personal banking||AED 300,000|
|For priority banking||AED 600,000|
|For private banking||AED 1,000,000|
|DirectRemit to India||From 60 seconds to 60 minutes (as per the bank)|
|DirectRemit to Philippines||From 60 seconds to 24 hours|
|DirectRemit to Pakistan||From 60 seconds to 60 minutes|
|DirectRemit to Sri Lanka||From 60 seconds to 60 minutes|
|DirectRemit to Egypt||From 60 seconds to one working day|
|DirectRemit to the United Kingdom||From 60 seconds to 60 minutes|
HSBC offers multiple ways through which you can internationally transfer your money seamlessly –
Global Money Transfers
It is an international transfer service available on the HSBC UAE application. You can make use of this to send money anywhere around the world from the UAE.
The major features of HSBC global money transfer are listed below –
Inward Money Transfer
This is one of the easiest ways to get money sent to you from your home. When you transfer funds from your home country to your HSBC UAE account, you can ask the bank in the former location to transfer the money in your home country's currency. The bank will then perform the currency conversion for you at competitive exchange rates.
Some of the standard features of HSBC Inward transfers are listed below –
International Money Transfer
It is another easy way to quickly transfer money using HSBC online banking. You can either download the HSBC mobile application or log into online banking to transfer money online.
Here are the key features and benefits of HSBC International Money Transfer –
Global Money Account
This is a multi-currency HSBC digital account that can be used for sending, receiving, and managing funds in different global currencies.
Let’s take a look at the major features of the HSBC global money account:
(3) Abu Dhabi Islamic Bank (ADIB)
Abu Dhabi Islamic Bank, referred to as ADIB, allows users to transfer money abroad via two types of its services –
ADIB Wire Transfers
The process of transferring funds is quick and highly convenient with ADIB wire transfer. Moreover, it is also efficient in terms of rates, with highly competitive exchange rates offered for all major currencies to individual and corporate customers –
Some of the most notable features of ADIB wire transfer are as follows –
ADIB UAE-Egypt Current Account
A more specific method compared to the wire transfer, ADIB UAE-Egypt current accounts are excellent choices if you primarily transfer funds to Egypt.
Listed below are the main benefits of opening an ADIB UAE-Egypt current account –
Transferring money through ADCB mobile banking application and ADCB personal internet banking is a straightforward and safe process. This is a preferable option if you wish to transfer funds on an urgent basis –
Here are the key features and benefits of transferring money through ADCB –
Standard Chartered Bank is remarkable in that it allows users to transfer funds at zero correspondent banking fees (applicable for both online and mobile banking). The Standard Chartered international funds transfer also allows you to transfer funds from your source bank accounts, visa debit or credit cards, or digital cards.
Curated below are the salient benefits and features of Standard Chartered Bank money transfer –
Dubai Islamic Bank, also known as DIB, offers a remittance channel, namely DIB Express Transfer, using which you can transfer funds to your family or friends internationally. Moreover, as a DIB user, you are also eligible to apply for all types of foreign currency funds transfer services from your active DIB account to any other account.
Have a look at the features of this fund transfer service by Dubai Islamic Bank –
Using the First Abu Dhabi Bank mobile application, one can easily transfer money and funds internationally without any hassle. Moreover, this application can be used for both one-time as well as periodic transfers.
Given below are the major features of the FAB money transfer service –
Citibank UAE offers two types of fund transfers –
Citibank Global Transfer
Citibank Global Transfer is one of the quickest ways to transfer money to and from Citibank personal accounts across the world. Some of its other key features are listed below –
Citibank Foreign Currency Transfer
For individuals transferring funds overseas on a frequent basis, this can be a great choice as they can enjoy the convenience of easy transfer of funds in just a few taps via online as well as mobile banking. Its user-friendly interface and swift processing further enhance its position to make it a leading choice among expatriates.
Using the Citibank Foreign Currency Transfer service, you can enjoy the following features –
Mashreq bank offers two types of services for money transfers across the globe – a
QuickRemit by Mashreq Bank allows the transfer of funds to your home country in your home currency. It can prove helpful in transferring funds to 40 global destinations. However, if you wish to transfer money to a country besides your home country, you can choose swift transfer.
Let’s take a look at the features of QuickRemit by Mashreq Bank.
As mentioned earlier, the ‘Swift Transfer’ facility by Mashreq Bank is a suitable choice if you wish to transfer funds from Mashreq online, Mashreq mobile, ATM, or any of the physical branches of the bank to your home country as well as other ones.
Find below the key features of Mashreq Swift Transfer –
The final bank in our list, Emirates Islamic Bank is another financial institution offering easy money transfer facilities and the option to transfer money in any remitting currency via Swift. With Emirates Islamic Bank, you can make fund transfers from your UAE bank account to anywhere in the world conveniently without moving a step anywhere.
Here are the key features of Money Transfers by Emirates Islamic Bank –
For online/mobile banking channels, the maximum transaction amount is as follows:
|For International Transfer||Up to AED 300,000 or equivalent|
|Between Customer's Accounts (Foreign Currency – non-AED or USD)||Amount equivalent to AED 60,000|
As seen in the article above, numerous options are available in the UAE for sending money abroad. Whether one wishes to make money transfer for their child's education, parent's medical treatment, or any other such reason, they will find plenty of options for the same in the emirates.
All the banks and financial institutions mentioned in the article provide excellent services for transferring funds outside the UAE. Ultimately, you can select any one of those remittance products based on your requirements and make a well-informed decision to transfer funds without any hassle.
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