How to Transfer Money Internationally from Dubai

Sending money overseas from Dubai is straightforward once you understand your options. This guide compares
bank SWIFT transfers, licensed exchange houses/cash agents, and low-cost fintech providers,
then walks you through the exact steps, fees, and compliance points you should know in the UAE.
We also include links to official resources from the UAE Central Bank, SWIFT, major banks, and the UAE Federal Tax Authority (FTA).

1) Transfer Methods from Dubai

Bank SWIFT Transfer (via your UAE bank)

Banks in the UAE use the SWIFT network
to send payment instructions securely to foreign banks. This is the classic route for sending funds to a bank account abroad, and it works worldwide.

• Pros: Global reach, direct to bank accounts, strong security.
• Cons: Can include correspondent bank fees and marked-up exchange rates; may be slower than fintechs.
• Best for: Larger amounts, business payments, or destinations not supported by alternative providers.

Licensed Exchange Houses / Cash Payout Agents

UAE has a robust remittance ecosystem with exchange houses and agents that can deliver to bank accounts or cash pickup points in many countries.
Good for recipients without easy bank access.

• Pros: Broad destination coverage, cash pickup options.
• Cons: Cash handling and pickup logistics; fees vary.
• Example brand: Western Union UAE.

Fintech Providers (App/Web)

Digital providers often offer transparent, upfront fees and the mid-market rate, which can be cheaper than traditional bank spreads.

• Pros: Clear pricing, competitive FX, fast delivery to many corridors.
• Cons: Coverage and limits vary by country and currency.
• Example: Wise UAE pricing.

2) Step-by-Step: How to Send an International Transfer

1. Choose your method: bank, fintech app, or exchange house. Compare total cost
   (transfer fee + any correspondent/receiver bank fees + FX spread).
2. Collect beneficiary details: full name, address, bank name, SWIFT/BIC
   and account number or IBAN.
   For UAE IBAN format details, see CBUAE IBAN guidance.
3. Pick the currency: Sending in the destination’s local currency can reduce fees with some banks
   (see HSBC UAE transfer notes).
4. Understand charge codes: select OUR, SHA, or BEN (explained below) in your bank’s form
   (see Emirates NBD help).
5. Review fees & FX rate before you confirm: UAE rules require clear disclosure of fees and exchange rates
   (CBUAE Rulebook).
6. Authorize the transfer: confirm in your bank/app (you may need app-based approval or OTP).
7. Track & keep the receipt: keep the reference/MT103 and receipt (helpful for proof of payment or recalls).

3) Fees, Exchange Rates & Charge Codes

What you might pay

• Transfer fee: a fixed amount set by your bank or provider.
• Correspondent/intermediary bank fees: banks in the payment chain may deduct charges in transit on SWIFT transfers.
• Receiving/beneficiary bank fee: some foreign banks charge to receive international funds.
• Exchange-rate markup: if your provider doesn’t use the mid-market rate, the spread increases your total cost.
• VAT on UAE bank fees: banking fees may include VAT components; the FTA has published clarifications related to SWIFT-fee documentation
  (see VATP041).

Charge codes (who pays what?): OUR vs SHA vs BEN

Many banks let you choose how costs are shared:

• OUR: You pay your bank’s fee and any correspondent/receiver fees, so the recipient gets the full amount.
• SHA (Shared): You pay your bank’s fee; the recipient may pay correspondent/receiver fees (amount received can be lower).
• BEN: The recipient pays all fees; charges are deducted from the transfer amount.

See Emirates NBD’s help page
for examples and explanations of OUR/SHA/BEN.

Real-world fee examples (illustrative)

• HSBC UAE: Notes that payments to non-HSBC accounts not sent in the local currency of the destination may incur an
  AED 75 fee + VAT. See the “International Transfers” page for specifics and conditions:
  HSBC UAE.
• Fintech (Wise): Advertises transparent, upfront fees and the mid-market rate; check exact costs per route in-app:
  Wise UAE pricing.

4) How Long Do International Transfers Take?

Delivery time depends on the route, currencies, compliance checks, and cut-off times.
Typical SWIFT transfers arrive within 0–3 business days (sometimes same day on common corridors), while some fintech routes
can be near-instant. Cash pickup via agents can also be rapid, depending on destination and KYC requirements.

5) What You Need (Documents & Details)

• Recipient’s full name and address (as per bank records).
• Recipient bank’s name, address, and SWIFT/BIC code (learn more from SWIFT).
• Account number or IBAN (for UAE IBAN standards, see CBUAE).
• Purpose of payment (banks may ask for a description/invoice/contract).
• Source-of-funds evidence for larger amounts (salary slips, invoices, sale contracts, etc.).

Quick Comparison

6) Cost-Saving & Safety Tips

• Compare total cost: Don’t just look at transfer fees—FX markup and correspondent fees matter.
• Send in local currency when it helps: Some banks waive a fee if you send in the destination’s local currency (see HSBC UAE notes).
• Use OUR/SHA wisely: Use OUR when the recipient must receive the full amount; choose SHA for fair cost-sharing.
• Mind cut-off times: Transfers after the bank’s cut-off may move on the next business day.
• Stay compliant: Be accurate with payment purpose and keep documents. UAE consumer protection standards require clear disclosures and receipts.
• Verify recipients: Double-check names, account numbers, SWIFT/IBAN to prevent delays or recalls.

7) FAQs

8) Official Sources & Further Reading

• CBUAE Consumer Protection Standards (disclosures & fees):
  rulebook.centralbank.ae
• CBUAE Remittances/Transfers Transparency:
  rulebook.centralbank.ae
• IBAN in the UAE (CBUAE):
  centralbank.ae
• SWIFT network explainer (official):
  swift.com
• Emirates NBD – International Transfers (OUR/SHA/BEN examples):
  emiratesnbd.com
• HSBC UAE – International Transfers (fees & currency notes):
  hsbc.ae
• Wise UAE – Pricing & mid-market rate:
  wise.com
• Western Union UAE – Send money:
  westernunion.com
• UAE FTA – Public Clarification VATP041 (SWIFT fees documentation):
  tax.gov.ae