# Money transfer to UK



## ue95038 (Jan 7, 2016)

Hello everyone, any suggestion how to send money from UAE to UK. I have HSBC Advance account in both countries but I notice HSBC rates are extremely poor and they charge for every transaction. Any inputs or experience will be highly appreciated. Thanking in advance.


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## asharma0001 (Mar 21, 2014)

ue95038 said:


> Hello everyone, any suggestion how to send money from UAE to UK. I have HSBC Advance account in both countries but I notice HSBC rates are extremely poor and they charge for every transaction. Any inputs or experience will be highly appreciated. Thanking in advance.


I use GCEN personally, but there are numerous other ways. I think there are some existing threads on here which might be worth a read for recommendations.


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## ue95038 (Jan 7, 2016)

Thanks. I heard about UAE exchange but also try the one you mention. Thanks again.


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## Dave-o (Aug 23, 2015)

Spend an hour running round the exchange shops in malls to play them off against each other. It's a bit of a pain but better rates than using HSBC's rates over the internet


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## Dave-o (Aug 23, 2015)

asharma0001 said:


> I use GCEN personally, but there are numerous other ways. I think there are some existing threads on here which might be worth a read for recommendations.


Just had a look into CGEN and they have good 'estimated' rates on the front page, but when you sign up for an account, their rates aren't that good. 

That was a waste of time and now they have my personal details on their servers.


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## LesFroggitts (Dec 30, 2013)

Dave-o said:


> Just had a look into CGEN and they have good 'estimated' rates on the front page, but when you sign up for an account, their rates aren't that good.
> 
> That was a waste of time and now they have my personal details on their servers.


And yet every time I use them I get the shown rate - have you spoken to them, the first transfer is normally done through their local representative and they fix the rate for you.


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## asharma0001 (Mar 21, 2014)

LesFroggitts said:


> And yet every time I use them I get the shown rate - have you spoken to them, the first transfer is normally done through their local representative and they fix the rate for you.


I usually just give them a call and arrange over the phone too. Never had any issue with their rate or service to be honest.


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## twowheelsgood (Feb 21, 2013)

I always ask them for a better rate - never even got close to paying the published rate.

As a general rule, expect to pay about 4 cents over the XE rate so if XE is at 5.29, try for 5.33


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## Dave-o (Aug 23, 2015)

On the front page the estimated rate was 5.29121

When it came to the transfer it was 5.44084

The whole point of signing up online is that I don't have to ring people like it's the 1980s. The internet hasn't really caught on here.


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## twowheelsgood (Feb 21, 2013)

Dave-o said:


> On the front page the estimated rate was 5.29121 When it came to the transfer it was 5.44084 The whole point of signing up online is that I don't have to ring people like it's the 1980s. The internet hasn't really caught on here.


You don't have to ring anyone and online is just fine here. The 5.44 rate is for small sums and the unwary. Take in 39,000 at a time and you'll get a better rate. I always have. Lowest rate I got on 30th Jan was 5.2781 including all fees.


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## Dave-o (Aug 23, 2015)

The switch-over to the better rate is at 27,000 and gives the same rate as 39,000: 5.325 which is still 7.8 cents above the XE mid market rate. Almost double the 4 cents you mention.


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## twowheelsgood (Feb 21, 2013)

Dave-o said:


> The switch-over to the better rate is at 27,000 and gives the same rate as 39,000: 5.325 which is still 7.8 cents above the XE mid market rate. Almost double the 4 cents you mention.


So you aren't getting a good deal ?

Note to yourself - try harder.


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## Dave-o (Aug 23, 2015)

I'm used to internet commerce being quick, cheap and efficient. Not half internet, half phone, spend longer than you would you expect to get what you should have got up front.


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## LesFroggitts (Dec 30, 2013)

Dave-o said:


> I'm used to internet commerce being quick, cheap and efficient. Not half internet, half phone, spend longer than you would you expect to get what you should have got up front.


That's the thing isn't it? You were used to having that level of iCommerce services back where you came from but now that you're in a country where online services are still in their infancy you have to make adjustments I'm afraid.

It wasn't that long ago when webpages of vendors out here were basically a few simple pages listing the contact details and a few details of the services provided - very few were dynamic in content, but that is now slowly changing.

GCEN works for me, it's certainly a heck of a lot easier than trawling around the exchange houses (one of which have launched a similar service but not one I would recommend).


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## pnephil (Jul 20, 2013)

I used to use GCEN but now take a wad of cash to Orient Exchange in Silicon Oasis as they have a special rate for transferring to UK. They charge a fee of 110dhs per transfer but it still works out at better value then GCEN.


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## asharma0001 (Mar 21, 2014)

pnephil said:


> I used to use GCEN but now take a wad of cash to Orient Exchange in Silicon Oasis as they have a special rate for transferring to UK. They charge a fee of 110dhs per transfer but it still works out at better value then GCEN.


To be honest, personally I'm not too worried about getting the absolutely best rate out there at any given time. It's far too much hassle, and getting a competitive rate plus the convenience of getting the money back to my UK account easily is more attractive.


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## BigAndyD (Apr 19, 2013)

Use RationalFX based in London. Simple, quick and professional. Better rates than GCEN, no phone calls and none of this "I'll have to talk to my manager" nonsense.


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## ue95038 (Jan 7, 2016)

BigAndyD said:


> Use RationalFX based in London. Simple, quick and professional. Better rates than GCEN, no phone calls and none of this "I'll have to talk to my manager" nonsense.


Thanks for all responses - very helpful. RationalFX rates looks much better and £4 fee doesn't look bad at all. I will definitely give it a go. Thanks again everyone.


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## twowheelsgood (Feb 21, 2013)

Dave-o said:


> which is still 7.8 cents above the XE mid market rate. Almost double the 4 cents you mention.


This morning at 09:22 XE was at 5.1281 

I transferred 39,000 and got 5.1830 ==> 5.49 fils on the deal at the lowest rate I've ever had. The uplift would be lower if the rate was higher as any fixed charges would be diluted.

But I'm not complaining at that rate - it was 5.8 when my time here started


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## MrMM (Jan 15, 2015)

Hmmm, I was told HSBC had free HSBC to HSCB transfer!

I use the Al Rostamani centre in Mall of the Emirates. I transfer 5,000 dirhams every month and it only ever costs me 8 pound to transfer to UK. It's a fixed amount. Much cheaper than going through my bank (Santander account in UK) as the one time I did it cost me 30 quid!


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## twowheelsgood (Feb 21, 2013)

MrMM said:


> Hmmm, I was told HSBC had free HSBC to HSCB transfer!
> 
> I use the Al Rostamani centre in Mall of the Emirates. I transfer 5,000 dirhams every month and it only ever costs me 8 pound to transfer to UK. It's a fixed amount. Much cheaper than going through my bank (Santander account in UK) as the one time I did it cost me 30 quid!


Yeah, at what rate is HSBC - HSBC though ?

Its okay saying there are no fees but if they charge you a punitive rate then they get their money. I did an HSBC-HSBC transfer only once about 3 years ago and I thought it was a different currency given the rates they used.


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## Bk1302 (Mar 2, 2016)

Thank you


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## pumpkins (Oct 13, 2009)

twowheelsgood said:


> This morning at 09:22 XE was at 5.1281
> 
> I transferred 39,000 and got 5.1830 ==> 5.49 fils on the deal at the lowest rate I've ever had. The uplift would be lower if the rate was higher as any fixed charges would be diluted.
> 
> But I'm not complaining at that rate - it was 5.8 when my time here started


Can you sign up to XE from the UAE? I've tried but the list of countries is limited and no sign of the UAE. Would like to take advantages of those rates!


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## twowheelsgood (Feb 21, 2013)

pumpkins said:


> Can you sign up to XE from the UAE? I've tried but the list of countries is limited and no sign of the UAE. Would like to take advantages of those rates!


XE is a report of rates between governments - not something you can get anything at.

You knew that really didnt you ?


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## Snidfly (Dec 31, 2013)

Try using an FX company as get better rates than banks plus they pick up the fees. I use First Rate FX monthly and had no issues. Once you get an account set up its quick and easy.


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## ue95038 (Jan 7, 2016)

Snidfly said:


> Try using an FX company as get better rates than banks plus they pick up the fees. I use First Rate FX monthly and had no issues. Once you get an account set up its quick and easy.


RationalFX is no good -advertised rates are way different from the actual rates. Once I finish sign up and uploaded my documents (passport, residency etc) I realised rates are no good. 
I checked with UAE exchange and Al Ansari exchange today and it seems UAE exchange is pretty good. Their rates are 5.16 and the charge is 50 AED fixed. For £2000 one need to pay roughly 10,350 AED (saving of around £50 compared to HSBC rates).


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## pumpkins (Oct 13, 2009)

twowheelsgood said:


> XE is a report of rates between governments - not something you can get anything at.
> 
> You knew that really didnt you ?


Are we talking about xe.com? Of course you can transfer with it.


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## w_man (Apr 16, 2010)

pumpkins said:


> Are we talking about xe.com? Of course you can transfer with it.


Yup! You can. Unfortunately not for UAE residents though. It's limited to residents of a select few countries only.


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