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Top 3 Money Transfer Providers for UK to UAE

Provider Amount Received Fee Exchange Rate Speed
Currencies Direct Currencies Direct AED 47,671.18 No Fee 4.7671 1-3 days more...
Moneycorp Moneycorp AED 47,105.83 No Fee 4.7106 1-3 days more...
TorFX TorFX AED 47,671.18 No Fee 4.7671 1-3 days more...
FXcompared Country Guides
See all guides here
UK
There are no exchange controls in the UK for the pound sterling (GBP), and transferring money to the UK and sending money from the UK is very easy Read More
UAE
The United Arab Emirates (UAE) has a dense network of both domestic and foreign bank branches, which makes overseas money transfers to the UAE and transferring money from the UAE relatively simple Read More
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Top 10 Money Transfer Providers

Latest prices for transferring money from UK to UAE
Exchange Rates as of 7 August 2020, 20:58

Currencies Direct

Est. 1996

Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure

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Amount Received
AED 47,671.18
GBP £253.32
saved vs. banks

Moneycorp

Est. 1979

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

More InfoLess Info
Amount Received
AED 47,105.83
GBP £135.32
saved vs. banks

TorFX

Est. 2004

Excellent exchange rates | No transfer fees | Thousands of 5 star reviews 

More InfoLess Info
FXcompared Rating
Amount Received
AED 47,671.18
GBP £253.32
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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Amount Received
AED 47,415.00
GBP £199.85
saved vs. banks

Global Reach (formerly FC Exchange)

Est. 2005

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

More InfoLess Info
Amount Received
AED 47,479.54
GBP £213.32
saved vs. banks

Western Union Business Solutions

Est. 2009

The Personal Payments team at Western Union Business Solutions look after the overseas currency requirements for private individuals.

More InfoLess Info
Amount Received
AED 47,192.07
GBP £153.32
saved vs. banks

WorldFirst

Est. 2004

Transparency and security | Great customer feedback rating from Feefo

More InfoLess Info
Amount Received
AED 45,911.35
No saving vs. banks

RationalFX

Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
More InfoLess Info
Amount Received
AED 47,503.49
GBP £218.32
saved vs. banks

Smart Currency Exchange

Est. 2004
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
More InfoLess Info
Amount Received
AED 47,503.49
GBP £218.32
saved vs. banks

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
AED 46,333.53
No saving vs. banks

How to Transfer Money from UK to UAE

What is in this guide

UK to UAE Guide

Summary

The bilateral relationship between the United Kingdom and the United Arab Emirates is growing progressively stronger, particularly with regards to economic and cultural ties. Currently, there are over 100,000 British citizens living and working in the UAE, and another one million Britons visit the region annually as tourists. Thousands of Emirati nationals travel to the UK every year as tourists or to study. There are currently no restrictions limiting the exchange of the British pound for the Emirati dirham and it is fairly easy to transfer money from the UK to the UAE.

Visas and immigration

British nationals can visit and stay in the UAE for at up to 30 days. A visa will be granted upon arrival at no cost. This visa can then be extended for another 30 days, after an application is submitted to the local consulate. Overstaying a visa can result in a fine. Diplomats and holders of official documents, inclusive of the Queen’s Messenger, do not need to have a visa to enter and stay in the UAE.

To qualify for a visa, British visitors must have valid return travel documents as well as a passport that is valid for at least six months after the time of their arrival. In order to qualify for a resident visa or work permit, an application must be submitted by a prospective employer.

A long stay visa costs GBP £200 and permits the holder to remain in the UAE for 90 days. Multiple entry visas are popular with business travelers who frequent the UAE. These visas cost GBP £400 and are valid for six months and allow travelers to stay in the UAE for up to 14 days per visit.

Money transfer regulations in the UAE and UK

The UAE’s anti-money laundering legislation has strict guidelines for reporting on international money transfers that exceed AED 100,000. Anyone entering the country with over AED 100,000 must declare to the relevant authorities. Although the UAE is well known for its openness to foreign direct investment, local authorities still favor domestic investments over those from foreign entities, especially where it concerns ownership of stock in UAE firms and land.

While the UK has a relatively free environment for remitting funds from dividends, royalties, interests, profits, patent fees, etc., those suspected of tax evasion may experience difficulties executing money transfers. Each UK bank has a department dedicated to anti-money laundering and is watchful of any transactions that exceed GBP £10,000.

Banking and money

There are several UK-based banks operating in the UAE. Barclay’s, Standard Chartered, HSBC, and RBS all offer personal and corporate financial services in the UAE. Opening a bank account in the UAE is a fairly simple and straightforward process. UK expats will have to present a residence visa. Fees for banking services vary widely although the Central Bank is working to standardize these across the banking sector. Most banks offer credit and debit cards, as well as savings accounts and car loans. Internet banking is accessible but can be a bit rudimentary in some cases. Cheques are widely accepted and quite popular in the UAE.

Banks in the UAE are open every day except Friday. This can be quite convenient as most transactions have to be carried out at the bank’s branch. International banks such as HSBC can be helpful in opening off-shore bank accounts which are good options if you want to transfer money from the UK to the UAE.

Taxation in the UAE

The UAE is well known for being a tax-free area. There is no VAT, GST, or personal income tax. There are, however, taxes applied to liquor bought in particular restaurants or directly from outlets. Import duty is also applied to some items. The UK has no double taxation treaty with the UAE, and depending on the length of time spent in each country during the tax year, Britons working in the UAE may be subject to pay taxes on income earned in both countries.

Trade relations with the UAE

The UK and UAE enjoy a strong trade relationship. The UAE is the UK’s 12th largest trading partner in the world, with bilateral trade totaling GBP £12bn in 2013, according to UKTI. There are at least 4000 UK-owned businesses operating in the UAE, including firms such as HSBC, Barclay’s Capital, Norton Rose, Thomson Reuters, Serco and Clifford Chance.

The UAE is the UK’s 14th largest market for exports. In 2009, exports to the UAE from the UK amounted to over GBP £3.2bn, while imports from the UAE were valued at more than GBP £1bn. Power generating equipment, transportation equipment, electrical goods, non-metallic mineral manufacture, telecommunications, interior and retail goods are some of the major goods exported from the UK to the UAE.

Defense and security relations between UK and UAE

The Armed Forces of the UK and UAE work closely to maintain peace in the Arabian Peninsula. Both countries signed a Defense Cooperation Accord in 1996. A Memorandum of Understanding signed by the two countries allows for UK forces to make use of air bases in the UAE. Several UK servicemen work with UAE armed forces to help in training or advisory capacities.

Frequently Asked Questions

Are the money transfer companies shown above safe to use?

Yes, all the companies are safe and fully-regulated money transfer services. Each are authorised and regulated by the relevant authority such as the Financial Conduct Authority(FCA) in the UK, FinCEN in the US, FinTRAC in Canada or ASIC in Australia.

How long does an international money transfer take?

The speed of delivery will depend on where the money is being from and to and how you are sending and receiving the money. Transfers sent using bank to bank transfers can depend take anywhere from minutes to days and you should check the time estimates from the relevant provider. Debit and credit card payments sometimes allow for faster transfers for smaller amounts.

How do I use FXcompared?

First review the comparison results (such as for a table above) for a given amount of money sending from UK to UAE. Then select a provider based on factors such as price, speed, their rating and click the green button to be taken to their website. From there, you can register and sign up for an account. Once you have done that and the provider has verified your identity to ensure the money can be send safely, you will be ready to transfer money.

What payments methods can I use to send money overseas?

The results shown above are typically for bank to bank transfers. It is possible via some providers to pay in your funds for the transfer via cash, debit or credit cards as well but this is usually reserved for smaller amounts. Some providers also give you different options for how the money will be received - to a bank account (most common), to a debit card, to cash or to a digital or mobile wallet.

What if the price shown above isn’t exactly what I am offered when I try to transfer money?

There can be a number of reasons why the final price you are offered may be different to that shown in the table above. Exchange rates between two currencies change all the time and is the most common reason. Additionally, some providers offer different pricing depending what method you are using to send funds or how the funds will be received. Others may offer you a premium service for faster payments. In some cases FXcompared has a special rate with a provider and this is reserved for first time customers who sign up to the provider starting from FXcompared’s website. As prices do change often, be sure to confirm the total cost with the provider before transferring money.

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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared.

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.