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Here's some information on how to transfer money from Dubai and how to change foreign currency.
10 January 2013
| Last updated on 23 May 2017
It is really easy to get foreign currency exchanged in Dubai. There are hundreds of conveniently located exchange bureaus in malls and residential areas. So if you are traveling abroad for business or leisure and need foreign currency, it is easy to get. You can buy and sell foreign currency conveniently at the many branches across the UAE. Some companies have a loyalty card sheme whereby you are offered cheaper exchange rates, so those are worth looking into too.
At the airport
Local and international banks and currency exchange houses are operational around the clock across Terminals 1, 2, and 3 of Dubai International. Main services offered are: currency exchange, money transfer, cash advance and bill payment. Remember when exchanging currency that rates differ from bank to bank. Ask first. Also, your currency may not be available at all banks. Please inquire at the bank or check their website.
Remittances
Lots of the Exchange places have links to banks and agents worldwide which enables you to send and receive money within minutes. There is a wide range of remittance products and services to choose from.
Telex Transfers: Quick, safe and reliable money transfers to beneficiaries in any country
Demand Drafts: Money transfers to bank accounts using secured cheques
Bank Transfers: Direct money transfers to bank accounts anywhere in the world
Door to Door: Direct delivery of money at beneficiary's doorstep
Instant Money Transfers: fast, secure and reliable money transfer services around the world
Bank transfers
You can arrange to transfer money to another bank account through your own bank account. All the banks have different rates for doing this but you may find that the Exhange houses are cheaper. You may prefer to do the transfer through your bank if you feel more comfortable with that.
Rates & charges
Check the rates and charges carefully before transferring any money and decide whether you want to pay them fees or whether you will have them deducted out of the amount you send. If you are transferring money to a business bank account, you will need to provide an invoice before the transfer can be done.
Take ID with you when you are performing these transactions as you are going to need it.
