Dahabshiil Money Transfer Review - Exchange Rates & Fees Calculator and FXcompared’s score

FXcompared Score 2.9/5 Average
Dahabshiil
Rating based on expert reviews by FXcompared
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Rating based on expert reviews by FXcompared
Last updated | March 10th, 2020

About Dahabshiil

Founded in 1970 as the African version of Western Union, Dahabshiil is Africa’s largest international money transfer business and currently has three offices around the world — in Hargeisa, the capital of Somaliland (the breakaway province of Somalia), Dubai (where its headquarters are located) and London.

Translated from Somali, the ‘gold recovery factory’ was named ‘Dahabshiil’ as a new money transfer company that helps migrants send money to friends and relatives in neighbouring East African countries. It became the first cross-border payment company to receive full permission from the prestigious UK Financial Conduct Authority in 2010.

The company provides money transfers and banking services to both individuals and legal entities, as well as international organisations. The latter include the World Bank, the United Nations, Save the Children and Oxfam — these depend on Dahabshiil to provide payment services to its employees, its partner NGOs, its contractors and government agencies.

By providing unrivalled exchange rates and transfer fees for individuals and legal entities, it maintains a leading position in Africa as a fully compatible and secure business for international payments.

Dahabshiil Fees and exchange rate

FXcompared Score 1.4/5 Poor
Dahabshiil
Rating based on expert reviews by FXcompared
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Dahabshiil Fees and exchange rate

Competitiveness on FXcompared for low value transfers e.g. sending GBP200
Dahabshiil is not the cheapest option for low cost translations
3/5
Competitiveness on FXcompared for medium value transfers e.g. sending GBP10,000
Dahabshiil does not have competitive prices for mid-value transactions.
2/5
Competitiveness on FXcompared for high value transfers e.g. sending GBP250,000
Dahabshiil does not have a competitive price for large transactions.
0/5
Does FXcompared have direct access to the pricing
FXcompared receives prices directly from Dahabshiil.
0/2
Is it possible to lock in future exchange rates
No, but you can fix the rate during the placement of the transfer.
0/1

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.

Dahabshiil will offer you:

  • Money transfer/cross-border payment services for individuals and legal entities
  • Money transfers from a smartphone through the iOS application
  • Competitive foreign exchange services
  • High end-to-end security for all money transfers

Ease of use

FXcompared Score 2.0/5 Fair
Dahabshiil
Rating based on expert reviews by FXcompared
Go to Dahabshiil

Ease of use

Easy to understand website
The Dahabshiil website is straight-forward and user-friendly.
1/2
Simple sign up process (number of steps)
Create an account, enter your transfer details and make a payment.
1/2
Easy to setup a transfer once registered
Has a simple transfer setup process
1/2
Provider offers a service that our users often sign up to
Popular among users of Fxcompared
1/2
Mobile notifications available on completed transfers
You will receive push notifications and emails to help you track your transfer.
0/2

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.

DahabshiilApp2.png

Dahabshiil mobile app

Whether you want to talk through your options with our team or move money on the go in a couple of clicks, you’ll always get great exchange rates and five star customer service.

Mobile product

FXcompared Score 3.0/5 Good
Dahabshiil
Rating based on expert reviews by FXcompared
Go to Dahabshiil

Mobile product

Easy to use mobile website
The Dahabshiil website could be better optimised for mobile use.
1/2
Easy to use mobile app
Applications are very intuitive and clear.
1/2
Can transact in the app
It can work with the application as easily as on the site.
1/2
Range of in-app product offering
The application supports the same functions as the website.
2/2
App store rating
Apple Store rating 4.2 and Google Play rating 5
1/2

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.

Credibility & Security

FXcompared Score 2.3/5 Fair
Dahabshiil
Rating based on expert reviews by FXcompared
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Credibility & Security

Fully licensed and authorised
Licensed by the FCA in the UK.
4/4
Total amount transferred for their customers
0/3
Business revenue
Business revenue estimated at $1m.
0/3
Year on year growth
3-5%
0/1
Number of employees
2000
1/1
Head office location
Dubai, United Arab Emirates
1/1
Branded search performance
Good brand search performance.
0/1
How long has the company been a partner of FXcompared
0/2
How long has the company been established?
1970
2/3
Quality of financial backers
2/2
Private or public company
Private
0/1

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 5th 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.

Business product offering

FXcompared Score 2.9/5 Average
Dahabshiil
Rating based on expert reviews by FXcompared
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Business product offering

Distinct offering for business
Money transfers are offered for businesses.
4/4
Broader product set for business
A range of addition products are offered for businesses.
3/3
Specialised team to support businesses
Yes, specialised support is offered for business customers.
0/2
Receivables product options
Not available.
0/1
Marketplace seller product offering
Services for market sellers are offered.
0/2

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

FXcompared Score 4.0/5 Great
Dahabshiil
Rating based on expert reviews by FXcompared
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Product Coverage & Service

Number of sending and receiving countries
Dahabshiil serves more than 126 countries.
3/4
Number of available languages
The site is available in 10 languages.
2/2
Pay in options
Through a bank account, debit and credit cards, as well as online payment methods.
3/4
Pay out options
To bank accounts, mobile apps, or box office at 24,000 branches.
2/2
Additional services
N/A
1/2
Minimum send amount
Small amount payments can be made through Dahabshiil starting at $100
2/2
Maximum send amount
Maximum transfer amount varies by country.
1/2
Speed and options for speed of transfer
Varies but the average is one working day.
2/2

Dahabshiil is a new remittance venture that helps migrants send money to friends and relatives in neighbouring East African countries. It currently has over 2,000 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

FXcompared Score 4.1/5 Great
Dahabshiil
Rating based on expert reviews by FXcompared
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Customer Feedback & Satisfaction

Customer help including onboarding
Accounts are easy to set up.
1/2
Ease of transfer
Customers find the service easy to use.
2/2
Exchange rates
Customers are generally satisfied with exchange rates.
1/2
Fees
Dahabshiil offer reasonable rates.
2/2
Solving issues
The team is helpful and will quickly resolve any issues.
2/2
Online/mobile experience
The website and application are fully functional and easy to use.
1/2
Customer service
There are not many reviews available but customer service is often praised.
2/2
Overall experience
Company overall rated positively in reviews
2/2

There are not many reviews of Dahabshiil available online but of the few out there, feedback is generally average.

Customer Support

FXcompared Score 3.0/5 Good
Dahabshiil
Rating based on expert reviews by FXcompared
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Customer Support

How good is the help section on the website?
The help section is thorough and easy to navigate.
1/2
Is there live online support?
Support is offered to registered customers.
1/1
Is there email support - and to customers and non customers?
Email support also requires login.
1/1
Is there phone support ?
Customer support can be contacted via mobile or telephone.
1/2
Is the company easy to contact?
Yes, email via website or app.
1/1
Are FAQs and support available in more than one language?
FAQs available in ten Languages.
1/1
Is there an FX dealer to support customers
0/2

The company offers customer assistance from:

  • 9am to 10pm
  • 2.30pm to 9.30pm, Friday
  • 9am to 10pm, Saturday

Clients can call the company on the following numbers:

  • Corporate office: +971 4 359 8521
  • 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.

Transparency

FXcompared Score 3.8/5 Good
Dahabshiil
Rating based on expert reviews by FXcompared
Go to Dahabshiil

Transparency

Is there an explicit exchange rate margin in the total cost of transfer?
Included as part of the cost.
1/2
Are the fees easy to understand?
Rates vary, but are easy to understand.
2/2
Does the company combine fees and exchange rate or clearly broken out?
Fees are separated from exchange rates.
2/2
Is a real time quote available without registering?
You must register to receive prices in real time.
1/2

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.

Alternatives to Dahabshiil

TorFX
Rating based on expert reviews by FXcompared
Go to TorFX
WorldFirst
Rating based on expert reviews by FXcompared
Go to WorldFirst
OFX (UK)
Rating based on expert reviews by FXcompared
Go to OFX (UK)

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Rates From The Average UK High Street Bank

Est. 1934

Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK  by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.

We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
 

More InfoLess Info
Amount Received
USD $12,248.56
No saving vs. banks

PayPal

Est. 1998

Shop with PayPal and you’ll still earn your points, airmiles and cashback. Fees are shown as part of the overall exchange rate.

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Amount Received
USD $12,190.54
No saving vs. banks

How can Dahabshiil be contacted?

The company can be contacted by phone on +971 4359 8521.

What are Dahabshiil’s money transfer rates?

Dahabshiil’s fees vary depending on the place of departure, receipt and the amount.

Can Dahabshiil be used online?

Yes, by using a mobile application.

How does Dahabshiil work?

Dahabshiil offers end-to-end security on all your currency transfers to ensure total compliance with US counter-terror regulations and makes its profit through transfer fees.

Why you can trust FXcompared's reviews

FXcompared's mission is to help you (and thousands of others each day) find the best providers for your money transfers.

We do that by providing real-time comparison of exchange rates and fees (you can use the form below to make a comparison) and by writing in-depth reviews about money transfer providers.

We have partnerships with many money transfer providers (Dahabshiil included), which help us get access to their exchange rate and fees information (which we always check for accuracy). Those partnerships help us support our activity and offer our service for free.

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.