What is the Cheapest Way to Transfer Money?
If you are looking for cheap remittance services from the UAE, a lot will depend on the service provider, amount sent, payment method, and the exchange rate offered. If you are choosing to send money through exchange houses in the UAE, you will find consistency in remittance charges throughout. However, many houses launch special promotions, and offer discounts for repeat transactions, especially during holiday times like Eid, and Ramadan.
However, these are the times when exchange rates are higher. So, you might want to wait till the holiday season is over.
You will be offered competitive rates to send money online from UAE. Many international money transfer services operate in the UAE, such as Wise, PayPal, MoneyCorp, and CurrencyFair. These providers have their specific percentage fee for transfers up to different limits, along with a fixed charge.
For instance, if you want to send money online from UAE to the US through Wise, you will need to pay a fixed fee of AED 6.81 along with a 0.8% fee for transfers up to AED 498,226. It’s a good idea to compare all service providers and the rates they offer to find the cheapest way to transfer money.