# Sending money to English bank account



## sarahlou84 (Aug 3, 2011)

Hello, 

I'd like some advice on the best and cheapest way of sending my wages back to England.

I would like to send my whole salary to my English bank account each month to pay off my credit cards. (my husband and I will be living off his wage). It will be around 10,000 dhs per month. 

I have been told not to do it via a bank here as they charge huge fees so please can someone kindly advise the best option for me.

Thank you in advance.


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## sarahlou84 (Aug 3, 2011)

Please can anyone help?

I have a HSBC bank account now. 

Does anyone know how much they charge for sending money back to the UK (non-HSBC account) I have spent hours looking on the internet but I can't find anything! 

Alternetively, do I use an exchange place? How do I do it?


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## Haz53 (Aug 21, 2011)

Hi,
Few days ago Al Ansari Exchange told me they charge about 55 Dhs for transferring money to British bank account and the 'mediator' bank will charge about 20 to 25 pounds. It takes about 3 to 4 working days. However, I was inquiring about transferring smaller amounts (2000-3000 Dhs).

Other expert may have better suggestions but worth asking and finding out more from them, I think.


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## wazza2222 (Sep 7, 2011)

*Hsbc*



sarahlou84 said:


> Please can anyone help?
> 
> I have a HSBC bank account now.
> 
> ...


They told me they charge US $7 to send to an HSBC account and US$50 to a non-HSBC account


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## Felixtoo2 (Jan 16, 2009)

Do not believe the HSBC. I used to send money back with them each month, they charged me 100dhs and gave me a crap exchange rate. The best that I`ve found is the Al Rostamani Exchange in Mall of the Emirates. 
I sent 9500dhs back today for which I got 1625 quid and they only charge 45dhs fee.


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## wazza2222 (Sep 7, 2011)

*taking a cut*



Felixtoo2 said:


> Do not believe the HSBC. I used to send money back with them each month, they charged me 100dhs and gave me a crap exchange rate. The best that I`ve found is the Al Rostamani Exchange in Mall of the Emirates.
> I sent 9500dhs back today for which I got 1625 quid and they only charge 45dhs fee.


Did they gouge you on the exchange rate too or did they give you the true rate?


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## Felixtoo2 (Jan 16, 2009)

HSBC didn`t give me the most competitive rate but it was my own fault for being lazy and trusting them.


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## sarahlou84 (Aug 3, 2011)

Felixtoo2 said:


> Do not believe the HSBC. I used to send money back with them each month, they charged me 100dhs and gave me a crap exchange rate. The best that I`ve found is the Al Rostamani Exchange in Mall of the Emirates.
> I sent 9500dhs back today for which I got 1625 quid and they only charge 45dhs fee.


That seems like a pretty reasonable exchange rate. How do you do it? Do you pay with your debit card? And what details do they need for your UK account?


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## Felixtoo2 (Jan 16, 2009)

I set up an account with them in the branch and they gave me an ID card (I think i used my passport as ID to set it up). Then each month I just take the cash out of the HSBC cash machine in MOE and go to the Rostamani exchange. Doin`t take the rate on their boards ask them for their best rate, they are as good as anyone and better than most.


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## CVDS (May 10, 2011)

I actually have two email addresses- I have my American Paypal account tied to my account in the states- I have a paypal account tied to my account here in dubai- I paypal myself the money from my account here and then transfer it to my bank account from paypal- It takes about 3-5 days turn around but the cost all together is about 45 dirhams.  

Thats the cheapest and easiest way I've found to do it and I never leave home


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## Elphaba (Jan 24, 2008)

sarahlou84 said:


> Hello,
> 
> I'd like some advice on the best and cheapest way of sending my wages back to England.
> 
> ...


If you are transferring that amount then you can access wholesale currency exchange rates (better that the lousy rates offered by retail banks) without any fees. If you contact me - either by PM or the link in my signature below) I can give you details of the system I use personally and for my clients. It's safe, (company is registered with UK Financial Services Authority and uses swift system) easy and quick and much better value for money.


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## Canuck_Sens (Nov 16, 2010)

CVDS said:


> I actually have two email addresses- I have my American Paypal account tied to my account in the states- I have a paypal account tied to my account here in dubai- I paypal myself the money from my account here and then transfer it to my bank account from paypal- It takes about 3-5 days turn around but the cost all together is about 45 dirhams.
> 
> Thats the cheapest and easiest way I've found to do it and I never leave home


 I find Paypal rates pretty bad unless they changed. What's the cut compared with the spot rate ? around 1% then that's not bad at all ? Assuming spot 1 USD =3.673AED. I used to transfer funds from Canada to US using it.


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## duncjwood (Oct 10, 2011)

Hi,

I use LloydsTSB they allow me to set up a Premier International Account, I sent money back through that for free. You transfer from here to International offshore account then free to the UK. Takes a few days but if you plan it right costs nothing as its just an interbranch transfer and can all be done online too.

I can put you in touch with my bank manager who is a nice guy and will advise you further.


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## CVDS (May 10, 2011)

Canuck_Sens said:


> I find Paypal rates pretty bad unless they changed. What's the cut compared with the spot rate ? around 1% then that's not bad at all ? Assuming spot 1 USD =3.673AED. I used to transfer funds from Canada to US using it.


The key to the paypal thing is that it asks you if you want to accept the paypal rate or the rate of the bank you are transferring the funds from- Choose the rate from the bank- 

It is cheaper to go to the exchange place but for me sometimes the fact that I do not have to leave home is worth the little bit extra


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