How best to transfer money from property sale? | ExpatWoman.com
 

How best to transfer money from property sale?

394
Posts
EW EXPLORER
Latest post on 19 December 2016 - 21:43

We have a friend selling a flat and she will send her proceeds from the sale out of UAE as she is leaving. She was thinking of just doing it through her bank - but the fees are high (?) - though she did not ask yet. Are the Exchange Bureaux like Al Ansari used for this sort of thing too - are they safe for large transfers and are their fees lower than banks? What sort of % do the banks or the exchange bureaux actually charge in fees for larger transfers or is it a set amount? Any advice welcome - thanks.

10
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EW NEWBIE
Latest post on 22 December 2016 - 16:46
Call Charlie - He helped me bring some money over here from the UK and got the best rate, sure he can do it the opposite way.
379
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EW EXPLORER
Latest post on 20 December 2016 - 19:26
We use global currency exchange network. A friend has also just recently used them to transfer funds from the sale of their property in Dubai back to bank account in the UK. https://gcen.co.uk/contact-us/
394
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EW EXPLORER
Latest post on 20 December 2016 - 17:03
Thanks Sarahlou - the ''other end'' has all been taken care of as a new account was set up for this money ( so it is not mixed with other money which may complicate tax in the future i.e separating different sources of money into different accounts for tax). All the tax etc forms have been submitted and accepted. After research online today we are leaning towards UAE Exchange for currency conversion and the transfer particularly if friend decides to take Sterling. But she may change the AED to US$ if she thinks Sterling will weaken further and there does not seem much difference between the banks and the Exchange Bureaux with changing to US$ - I expect that is because AED is pegged to US$ - although there are slight differences. Has anyone sent money with UAE Exchange lately?
8965
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EW MASTER
Latest post on 20 December 2016 - 16:41
We have a friend selling a flat and she will send her proceeds from the sale out of UAE as she is leaving. She was thinking of just doing it through her bank - but the fees are high (?) - though she did not ask yet. Are the Exchange Bureaux like Al Ansari used for this sort of thing too - are they safe for large transfers and are their fees lower than banks? What sort of % do the banks or the exchange bureaux actually charge in fees for larger transfers or is it a set amount? Any advice welcome - thanks. What country is she sending the money back too? Tell her to call them and ask what the costs are, she will have to fill out a money laundering form as I had to do this for sending 400GBP back to the UK.
 
 

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