Dahabshiil Money Transfer Review - Money Transfer Costs and FXcompared’s rating

Dahabshiil Transfer Fees and Costs

Fees vary depending on the place of departure, receipt and the amount. However, Dahabshiil works hard to keep their fees low and extremely competitive, helping to save money with every transfer. On Dahabshiil's homepage, you can find a currency calculator to help you find a price for your transaction which will be based on the daily exchange rate and the fees of your conversion.

Usability

In order to use the Dahabshiil service, the client must:

• Visit their nearest money transfer agent in Dahabshiil
• For new customers, the registration form must be filled out at the agent’s branch
• Provide identification documents (to comply with regulatory requirements)
• Indicate the amount to be sent and recipient data

After completing these simple steps, the client will receive a receipt from the agent with the full details of the transaction, including the payment amount, exchange rate, commission fee, location of the recipient and contact details.

Mobile product

There is a mobile application for iOS and Android. DahabPlus is powered by Dahabshiil Money Transfer, a reliable online money transfer service for quickly and securely sending money to individuals. This is a quick and flexible solution.

Trustworthiness & Reliability

Dahabshiil services are managed in accordance with international anti-terrorism, money laundering and other illegal practices. The firm is a member of the International Association of Money Transfer Networks (IAMTN), the UK Money Transmitters Association and the US Money Transmitters Association, and is fully compatible with anti-money laundering (AML) rules.

In 2010, Dahabshiil became the first international payment firm to obtain permission from the UK Financial Services Authority (FSA), in accordance with the Payment Services Regulations 2017, which require the highest standards of security, consumer protection, transparency and speed of delivery.

In May 2013, Barclays announced its decision to end its business relationship with Dahabshiil, citing a lack of “strong anti-money laundering management structures”. The decision was delayed after British lawmakers lobbied for Barclays. In July 2013, Barclays Bank reversed its decision to withdraw from the remittance market in the UK. On 5^th November 2013, the High Court of London granted an interim ban on non-preserving banking arrangements between Dahabshiil and Barclays until the completion of the full trial. Judge Launcelot Henderson called Barclays’ decision to terminate Dahabshiil’s account “unfair” and requested a detailed consideration of the reasons for the bank’s decision.

In April 2014, Barclays settled the dispute with Dahabshiil by agreeing to keep the remittances provider's account with the bank open for a period of time that would allow it to find a replacement bank. 

Business product offering

Dahabshiil has developed a rigorous and comprehensive programme of compliance with international standards, covering AML and terrorist financing programmes that operate throughout its global network. Companies and international organisations can be fully confident that the transactions they make with Dahabshiil will fully comply with all regional standards. The company’s network and its partners are fully licensed and regulated and are controlled by the relevant authorities in each jurisdiction in which it conducts financial transactions.

As with individual customers, transactions can be valued before any money transfer, and exchange rates and fees are much lower than those offered by traditional banks. Dahabshiil comprehensive transaction security programmes are very effective, and for organisations and businesses that regularly trade with African countries, this is the continent’s most famous international money transfer business.

Product Coverage & Service

Dahabshiil is a new remittance venture that helps migrants send money to friends and relatives in neighbouring East African countries. It currently has over 5,000 employees in 126 countries, and it works in more than 24,000 branches. Of the countries it serves, 40 are in Africa — others include the US, Canada and Australia, as well as Europe and the Middle East. Dahabshiil became the first cross-border payment company to receive full permission from the prestigious UK Financial Conduct Authority in 2010.

Customer Feedback & Satisfaction

Reviews of Dahabshiil online have generally been positive, with some customers praising the company's speed and efficiency of the service.

Customer Help & Assistance

Through its website, Dahabshiil offers an online help centre, which offers users information on registering for the money transfer service, ID verification, required documents and more. 

Clients can also call the company on the following numbers:

• US office: +1 (1866)-428-7799
• London office: +44 20 7375 1110
• Request for money transfers: +971 4 228 9273

The client can also fill out an online form to request a call back from the company, or send them an email (address depends on location). 

Pricing Transparency

Dahabshiil’s liability is limited to the amount paid by Dahabshiil for the transfer. Dahabshiil is not liable for any loss, including but not limited to indirect loss resulting from non-payment or underpayment, or non-delivery or refusal, or errors in the transfer of a money transfer — whether caused by any act, inaction, negligence or error on the part of Dahabshiil, or on the part of any agent, its employees or any other party.

Dahabshiil reserves the right to refuse any money transfer, especially if the recipient or sender has not provided the required identification or if the received identification is unsatisfactory, or if the transaction is considered to be related to money laundering or other illegal activities.

An unpaid transfer will be held for three weeks from the date of the transfer, after which it will be returned to the initiating agent for return to the client. If the payment was not made due to the fact that the recipient did not submit a claim, or due to incorrect or incomplete information provided by the sender, the fee will not be refunded. Otherwise, the client will be entitled to a full refund. Dahabshiil is not liable for any loss or damage claimed in connection with non-payment.