Remitting money from the UAE? Compare the costs…

UAE’s outward remittances stood at $19 billion (Dh70 billion), among the highest in the world, according to World Bank’s 2016 Migration and Remittances Factbook.

Being home to more than 8 million expats, it’s no wonder that the UAE offers more than just a few options when it comes to remitting money. And with more ways than one to send money to your loved ones, how do you make sure you get the best deal?

The most common modes of money transfer from the UAE include exchange houses, bank transfers, Western Union and online brokerages. The best deal is no doubt the one that gets you the most favorable exchange rate and the lowest transfer fees.

Let’s take a look at the cost of sending money using different services, from the UAE to some of the most popular remittance destinations – India, Pakistan, Philippines and the UK. Read more…