The United Arab Emirates is one of the world’s largest outbound remittance country. 85 percent residences of the United Arab Emirates are the foreigners who send money home after receiving the monthly payment. If you want to send your hard earn money overseas, first, you should know that the money transfer services in the UAE are highly competitive.
There are numerous national and international remittance service providers in the UAE’s remittance market, but not all care for you. Some of the companies offer a higher exchange rate but charge high transfer fees. Some other companies take minimal transfer fees but pay you a lower currency exchange rate.
Before sending your money into your country it is very important for you to do some research about the best remittance companies which grants a higher exchange rate, fewer transfer fees and short processing time.
Although there are a lot of options available to send your cash overseas including bank account to the bank account, cash to cash and cash to mobile wallets normally find the best choice is account transfer.
For the international money transfer through the bank can be secure, reliable and fast but it comes to a comparatively higher cost than remittance companies. The reason for these people still loves to send money through a currency exchange agency.
As much as I know about the remittance companies in the UAE here are the best money transfer companies in UAE for the foreign national.
TOP MONEY TRANSFER SERVICES PROVIDER
1. UAE Exchange
UAE Exchange is a United Arab Emirates firm has headquartered in Abu Dhabi the capital city of the United Arab Emirates. Mainly the company handles the money transfer, foreign currency exchange, and bill payment services.
The company is not only limited to the UAE, but also spread to 40 countries in the GCC, Africa, and also to other Asian countries.
If you are the regular customer of UAE exchange you can benefit through participating in the loyalty program that rewards points could convert the real cash.
The regular customer who is sending more than AED 10000 can request and negotiate the exchange rate, as I know, they provide a reasonable exchange rate.
- Money Transfer
- Foreign Currency Exchange
- Club Exclusive
- Corporate Services
- WPS Payroll Solutions
Al Ansari Exchange is another popular exchange house in the United Arab Emirates and it has many branches all over the UAE. It is at the of the in-house remit transaction in this country.
The company serves the customers with 2500 multilingual staff with 190 locations in the UAE. The services they provide highly reliable, fast and very competitive exchange rates.
- money transfer (in and out) of the country.
- Wire Transfers
- Bank Transfers
- Flash Remittances
- Direct to door services (selected countries only)
Western Union is the multinational remittance company that supports 200 countries and 500,000 agents worldwide. Thousands of users in UAE now use Western Union to securely send money for education, housing and medical treatment to their family members.
A few years before the western union charged a bit higher transfer fee and exchange commission ration also higher than other exchange companies in UAE but now it provides the competitive fees and exchange rate.
MoneyGram International Inc is a successful global money transfer agency like Western Union. It is an American money transfer services company based in the United States.
Even though it has not many independent offices in the UAE, It has ventured with other local money transfer companies and allows them to use its system to received and send money where their system is not available.
- Send for cash pick-up
- Direst send to a Bank Account
- Send to a Mobile Wallet
- Track your transaction
It is a UAE based company and has run under the Al Ghurair group which is the largest conglomerate of the United Arab Emirates. The services provided by the companies are highly competitive in the local and international money transfer industry. You can get some benefits from being the regular customer and receiving their loyalty card.
- Local Transfers
- Worldwide Remittance
- Foreign Exchange
- Loyalty – G Card
6. GCC Exchange
It is a global money transfer and foreign exchange company having a presence in four continents Europe, Asia Oceania, and Asia. The company founded in 2005 since then it has providing excellent services on the international and domestic fund transfer as well as the Forex market.
- Retail Services
- Instant Money Transfer
- Mobile Recharge Services
- VAT Payments
- Money Exchange
- Currency Exchange
- Payroll Solutions
- Pension Processing
Lulu exchange is the subsidiary company of the LuLu Group in the UAE. It has provided a range of solutions to remittance users and money exchanges in this country. The foreign exchange and the money transfer fees are competitive to the market.
- Send Direct to Account
- Cash pick up and receive
- Bank Cheque (India and Sri Lanka)
The orient exchange is the limited liability company in the UAE and provides you the reliable and secure money transfer services domestically and internationally. It charges you the low transfer charge and the most appealing rate of the currency exchange.
- Fast Electronic money transfer
- Fund To Beneficiary Bank Account
- Direct Fund Transfer to the country
- One-Stop-Shop For Money Transfer
If you are looking for the money transfer services provider which pays you a high exchange rate in the UAE I recommend the Redha Al Ansari Exchange. As I always compare the exchange rate of each and every exchange house in this country I love Redha’s offer because they always pay .30+sent higher than others.
When we talk about the transfer fee for remittance also not higher than competitors of the company.
- Personal Remittances
- Foreign Currency exchange
- Payment Solutions
- Personal Investment Solutions
- Corporate Money Transfers
This organization was established in 1976 for facilitating remittance services to the expatriates’ workers in this country. Most of the countries the company has expanded its banking relationship across Asia, Africa, Australia, America (Including Canada) & Europe.
- Express – remittance currency
- Telex Transfer
- Computerized Swift Payments
- Door to Door Cash Payment Services
- Instant Payments
Final points: Although I have provided above the best money transfer services companies in the UAE as well as Dubai they may not be the best of each and every country because The country-specific remittance companies also presented here. The Money transfer companies based in India, Nepal, Pakistan, Philippines, and African nations also already started services here in the UAE.
The countries specific service provider may provide you a most competitive rate on the money exchange and take a little money transfer fee. Even some of the companies send your money without any service charge.
So try to find the best company which offers you the higher currency conversion rate, lower transfer charge, and money available time to the destination country also no longer that you want.