UAE Exchange for Individuals

Individual customers can use UAE Exchange to pay a range of different bills swiftly and securely. Customers will, however, need to access these services in person by visiting their nearest UAE Exchange branch. The payment services on offer include settling utility bills (electricity, water and even tuition fees), credit card instalments or full repayments (select cards only), subscriptions, monthly loan instalments, paying insurance premiums and mobile phone top-ups, including for friends and family living abroad.

Customers can also use UAE Express to make domestic and international money transfers by means of bank-to-bank transfer and via its partner cross-border payments companies (see below for further details).

UAE Exchange’s branch outlets offer individual customers the option to purchase a travel card in the form of the company’s Multi-Currency Cash Passport. People simply fill in an application form in-store and attach a suitable photo ID, along with their setup card load. The company charges no commission fee for this service.

The rates on offer are exceptional and considerably better than the closest equivalents offered by conventional banks. However, while it has grown to operate in 31 countries through 800 branches, its outlets are heavily concentrated in the United Arab Emirates, Africa and India, and are more limited elsewhere.

Instant money transfers are available for both individual and corporate customers through UAE Exchange’s partnership with leading international money transfers providers. These include:

• Xpress Money, a leading global money transfers service with more than 170,000 instant money transfer agent locations in 140 countries
• Western Union, the largest global cross-border payments company with over 500,000 agent locations across the world
• MoneyGram, the second largest money transfer and business financial services provider in the world, with 350,000 agent locations spanning 200 countries
• International Money Express (IME), now part of Ria Money Transfer
• Money2Anywhere, a platform that enables online international money transfers directly from a bank account, debit card or credit card

UAE Exchange for Businesses

The company offers businesses a ‘SmartPay’ professional payroll solution to ensure that their employees’ monthly salaries are paid accurately and on time. UAE Exchange’s reliable salary disbursal system complies with the Wage Protection System (WPS) of the United Arab Emirates Ministry of Labour and the UAE Central Bank.

UAE Exchange’s bank transfer services enable its business clients to transfer money to corporate bank accounts across the world, securely and rapidly. It has a broad network of partner banks encompassing 140 reputable banks worldwide.

The company’s instant bank transfer service, FLASHremit, allows businesses to send payments to other corporate bank accounts instantaneously. Both sender and recipient receive SMS notifications as soon as the receiving account is credited.

Businesses may also benefit from UAE Exchange’s Account Credit service – a bank transfer solution that enables companies to send money to their beneficiary’s bank account – and its Demand Draft (DD) offering, a comprehensive solution for all payment-related needs (individuals may use this, too, by walking into their nearest branch and drawing a DD against their bills).

About UAE Exchange

Founded in 1980 in Abu Dhabi by Indian-born entrepreneur Dr Bavaguthu Raghuram Shetty and erstwhile United Arab Emirates Minister of Justice HE Abdulla Humaid Ali Al-Mazroei, UAE Exchange is one of the world’s leading global remittance, foreign exchange and cross-border payments brands. Spanning 31 countries (including Australia, New Zealand, the USA, Canada and the UK) in five continents, the company has close to 800 branches worldwide.

An ISO certified business, UAE Exchange currently employs more than 9,000 professionals serving over 15 million customers worldwide.