With such a large expatriate community, your bank will have systems in place to deal with international transfers. This can be done by visiting your branch, making sure you have your passport with you for identification, or by using your bank’s online banking service. They will charge a fee for any transfers, even if you are making an online transfer to one of your bank’s branches overseas. The bank in the receiving country will also charge a fee for receiving the money. In addition, if the money is sent through a routing branch, they will also charge you a fee. To make a transfer, you will need to have the receiving bank’s address and SWIFT code. Contact the bank directly if you do not know this.
Money can be transferred overseas for much cheaper rates by using one of these companies:
- Al Ghurair Exchange – Tel: 04 295 5697 – http://www.alghurairexchange.com
- Al Rostamani International Exchange (ARIE) – Tel: 04 609 8100 – http://www.alrostamaniexchange.com
- Western Union – http://uae.westernunion.com/WUCOMWEB/staticMid.do?method=load&countryCode=AE&languageCode=en&pagename=HomePage
There are no exchange controls in Dubai.