UAE Exchange Review

Introduction

Based in the United Arab Emirates, UAE Exchange is one of the largest remittance companies in the world, offering:

  • International money transfers
  • Foreign currency exchange
  • Bill payment solutions
  • Mobile cash wallet
  • Travel cards
Fee: ?
Bank Partner: ?
Speed: ? 1-4 days
Country Notes
Local settlement: ? Global
Transfer methods ? Phone and online transfer services
Regulated By: ? FCA and many others
General Notes

The pros and cons of using UAE Exchange

UAE Exchange

 

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.

 

Amount Received £ 10,000.00
£ 0.00 Avg. Saving vs. Banks ?
EURn/a
USDn/a
CADn/a
AUDn/a

Compare Other Currency Rates

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Other International Money Transfer Quotes

Moneycorp

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Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

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One-off payments | Regular payments | Great rates | Safeguarded customer funds

Amount Received
USD $12,757.07
GBP £214.73
saved vs. banks
Bank Beating Rates

TorFX

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Est. 2004

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

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Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

Amount Received
USD $12,789.20
GBP £239.73
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Bank Beating Rates

Currencies Direct

Call us0203 018 1318

Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

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Bank-beating FX rates | Safe and secure | Free transfers for FXcompared customers

Amount Received
USD $12,712.08
GBP £179.73
saved vs. banks

OFX (UK)

?
Est. 1998

OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates

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OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates

Amount Received
USD $12,688.95
GBP £161.73
saved vs. banks

Global Reach (formerly FC Exchange)

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

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Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

Amount Received
USD $12,737.79
GBP £199.73
saved vs. banks

WorldFirst

?
Est. 2004

Transparency and security | Great customer feedback rating from Feefo

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Transparency and security | Great customer feedback rating from Feefo

Amount Received
USD $12,789.20
GBP £239.73
saved vs. banks

Western Union Business Solutions

The Personal Payments team at Western Union Business Solutions look after the overseas currency requirements for private individuals.
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The Personal Payments team at Western Union Business Solutions look after the overseas currency requirements for private individuals.
Amount Received
USD $12,660.67
GBP £139.73
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RationalFX

?
Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
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Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
Amount Received
USD $12,744.22
GBP £204.73
saved vs. banks

Currency Solutions

Currency exchange specialists ranking No.1 on Trustpilot for the past two years

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Currency exchange specialists ranking No.1 on Trustpilot for the past two years

Amount Received
USD $12,749.36
GBP £208.73
saved vs. banks

Smart Currency Exchange

Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
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Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
Amount Received
USD $12,744.22
GBP £204.73
saved vs. banks

Rates From The Average UK High Street Bank

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

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.
 

Amount Received
USD $12,430.34
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.

More InfoLess Info

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

Amount Received
USD $12,403.60
No saving vs. banks

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