Thread Status:
Not open for further replies.

How to transfer money to Dubai ???

Discussion in 'Dubai property' started by DAYFox, Nov 20, 2007.

  1. DAYFox

    DAYFox New Member

    244
    0
    0
    Hi,

    I did 3 property investments in Dubai so far and I tried many different ways to get my EURO Money to Dubai. But unfortunately I had to recognize that each position is taking a lot of money away, here some examples:

    Example 1:

    Sending Euro Money from Europe to Dubai UAE Account > Bank is taking 3-5 % for currency Exchange and other fees

    Example 2:

    Sending Euro Money from Europe to Dubai EURO Account > Here the Bank takes 3% for incoming money and then when I make a transfer between my accounts (EUR > AED) the bank is taking another 3% for currency exchange and other fees

    Example 3:

    Using a Company named "Currency Direct", they take around 2% and the Bank in Dubai another 0,5-1%


    My question is now: How do you do the payments? Which way did you chose? Maybe there are other options which I am not aware of...
    I am all in all very unhappy, because currency becomes weaker every day and on top of it banks are ripping me off... By the way, I have to tell you that I am GOLD CUSTOMER and therefore entiteld for "special conditions" :confused:


    Waiting for your replies!
    Thank You very much
     
  2. Mark Taylor

    Mark Taylor New Member

    13
    0
    0
    I have bought a property in dubai last year.
    Do you buy often?

    I used a currency company and they didnt charge me for any transfers or percentage of trade.
     
  3. DAYFox

    DAYFox New Member

    244
    0
    0
    Would be nice to know which company you have used!
    thx
     
  4. fcrs

    fcrs New Member

    166
    3
    0
    bring cash better
     
  5. DAYFox

    DAYFox New Member

    244
    0
    0
    Hello??? I am not travelling from Europe to Dubai every 3 month and by the way there are cash limitations at the airport...
     
  6. maryjo

    maryjo New Member

    73
    0
    0
    I need your advice too, but I am the opposite. I want to transfer money from Dubai to the UK. My apartment has been rented out for about 6 months now and I was supposed to go and open an account in Dubai so the company could put the money from the rental into my account. Anyway, I could not get over to open an account and the office has cheques waiting for me in Dubai. It looks like I am going to have to just get the money transferred to me here in the UK. So what is the best way to do it, without losing too much money in the process?:confused:
     
  7. ukreal

    ukreal New Member

    4
    0
    0
    Try western union they allow the money transfer not for free but around $80 for amout more than $2000
     
  8. Janoulaki

    Janoulaki New Member

    163
    0
    0
    UK real

    Smart has got experiences with transfering money back to UK

    Dirham is a bit difficult but can be sorted

    :)
     
  9. Mark Taylor

    Mark Taylor New Member

    13
    0
    0
    I used a company called excel currencies, they were very proffesional and gave me decent rates. dealt with a Mark.

    Best thing is go to currencyfinder . com on the net, its a price comparison site with will give the best company for rates.
     
  10. Mark Taylor

    Mark Taylor New Member

    13
    0
    0
    I have used excel currencies for all of my transfers, never had a problem, the way i found them was by going to a site called currency finder . com its a price comparison site, which will direct you to the best company for rates.
     
  11. Mark Taylor

    Mark Taylor New Member

    13
    0
    0
    hey sorry for the delay in replying.

    I actually have a close friend of mine who lives in Dubai and sends money to the UK on a regular basis, just like you want to I presume I have spoken to him and the site i reccomended is not currencyfinder . com its actually currecyfinder . co . uk My Mistake!!!

    If you would like to know the company I am talking about pls feel free to email me shyamg @ tiscali. co . uk
     
  12. deandubai

    deandubai New Member

    4
    0
    0
    Moving money

    Hi, I have been transferring money in and out of Dubai for the last year and have tried nearly every angle to avoid paying extortionate fees! I have tried the cash companies like Al Ansari which are good for small amounts but does anyone have any recommendations for sending money by transfer to UK accounts?
     
  13. deandubai

    deandubai New Member

    4
    0
    0
    Moving money

    :confused:Hi, I have been transferring money in and out of Dubai for the last year and have tried nearly every angle to avoid paying extortionate fees! I have tried the cash companies like Al Ansari which are good for small amounts but does anyone have any recommendations for sending money by transfer to UK accounts?
     
  14. Go West

    Go West New Member

    79
    0
    0
    I had a client with the s problem and the way we got around all the fees and hassle was that I told him to open a visa or MasterCard account.
    once he had his credit card set up he loaded all the money he wanted to move out of the country onto it, the next thing was that he basically swipe his card wherever he went to buy whatever he wanted.
    This way we where avoiding the tax man which also tax you on overseas income.
    Please note this way is good if you mainly use your credit card to buy things, as if you want cash the credit card company will charge you cash advance fees which you must check with your bank to find out if its worth it or not, although my client said that for the amount of times he needed the cash the cash advance fees were still minimal compare to the fees accord by sending the money overseas.

    There are other ways to move large amounts of money overseas (100k and up) with avoiding paying fees or taxes but this is a different story.
     
  15. Bilal Usman

    Bilal Usman New Member

    70
    0
    0
    Hi Day Fox!

    Well the way i am using is, Open an Account in HSBC in your country. Run for Atleast Month and ask your Banker to Provide a GIF against your account and also ask them to e-mail to any branch in Dubai HSBC. HSBC have a International Banking Center in BUR DUBAI branch.
    Then go to HSBC Bur Dubai Branch and consult Internatioanl Banking Center( IBC). If they got mail from your home branch , they will open a Saving account of yours on your passport. You will Get and ATM card and Phone Banking + Internet Banking facality. No Cheque Book. While opening an account mention your home branch account as a benificry account, so the transfer made through internet banking while sitting i your own country. Max limit AED 35000/Day you can transfer. By this again you will be charged first from AED TO US$ then to US$ to EURO. but by this way the UAE DIRHAM cheques which you got from rentals could be deposited directly to your account. ( No resident Visa Required for this account) But if you have resident visa you can get cheuqe book also. This this mean the money would be save into your account. and i think by travelling again and again to dubai would be cost you more then transfering money to you own account. Hope this will help you.
     
Loading...
Thread Status:
Not open for further replies.

Share This Page