You have three main options when you decide to transfer money to the United Arab Emirates.
Firstly, you can use a high street bank. Alternatively, you can make use of a Money Sending bureau or a foreign exchange bureau to transfer money to the UAE.
Whichever way you choose and whatever you need to move the cash for, doing some research first will help save you money in the long-term.
If you opt to use a bank in your country of residence to transfer money to the UAE then you will benefit from a convenient service.
However, this is somewhat counterbalanced by the extra costs involved in transferring money to the United Arab Emirates through a bank.
You will need to factor in the poor currency exchange rate that you will probably receive, along with the per-transfer fees imposed on every transaction.
Using a Money Sending bureau, meanwhile, is unlikely to be much cheaper, with per-transfer fees averaging between ten and 15 per cent!
This option does have the benefit, however, of allowing you to transfer money to the UAE even if your recipient does not have access to a bank account.
But if you want the cheapest option then a foreign exchange broker will probably be the best way to transfer money to the United Arab Emirates.
These companies move a large volume of currency every day and as such are able to offer you very competitive rates.
RationalFX can go one further by providing you with these competitive rates and a low fee service when you transfer money to the UAE with us.
Why not open an online account for free today and see how much you can save? It's quick, free, easy to do and there is no obligation to use our services if you change your mind later.