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EWmums

EWfood

ewmoda

Transferring large amounts from dubai to overseas...most affordable option?

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345

Posts

EW EXPLORER

Latest post on 27 February 2015 - 21:21

If it is a large sum, then you can ask your bank to give you a better rate than the standard one. They will have fx traders who can quote you a much tighter spread for a large sum. Also check whether it would be cheaper to do the fx conversion to Rands here and then send rands, or do send AED or USD and have your bank in south africa do the fx part of it. Again, they should be able to offer you a better rate for a large sum.

4423

Posts

EW MASTER

Latest post on 27 February 2015 - 21:01

Personally I have been using First Rate FX for years, I've been very happy with their service.

394

Posts

EW EXPLORER

Latest post on 27 February 2015 - 20:55

Word of caution about 2 years ago(?) one of these discount money transfer companies went bankrupt - it was in the papers but did not pay it much attention, just wondered how a money transfer company could go bankrupt though - leaving people whose money they held at that time in serious difficulties. I suppose it can happen if they do currency exchange as well.

228

Posts

EW NEWBIE

Latest post on 27 February 2015 - 15:45

Seriously? Someone gave this a thumbs down? I hope that the info is helpful to you and anyone else who is in the same situation. Good luck. <em>edited by Marsbar on 27/02/2015</em>

3220

Posts

EW MASTER

Latest post on 27 February 2015 - 12:51

Just checked. They do send to SA and their rates seem fair. Thanks!!

3220

Posts

EW MASTER

Latest post on 27 February 2015 - 12:44

Thank you. I will have a look on the website.

228

Posts

EW NEWBIE

Latest post on 27 February 2015 - 12:39

Hi, we use currencyfair to send money to Canada. Happy with the process and results. Good luck. https://www.currencyfair.com <em>edited by Marsbar on 27/02/2015</em>

3220

Posts

EW MASTER

Latest post on 27 February 2015 - 12:21

We just bought a home and have to make the payment next week. All the cash is in Dubai which means we have to transfer it overseas (South Africa). Everybody says not to do it through the bank as they will rob you blind with extra fees but nobody can tell me who to use instead? Any help or tips ladies?

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