# Best way to transfer money to the UAE



## Ben1337 (Nov 18, 2013)

Hi Folks,

first thanks for all this valuable information in this forum.

I'm relocating to the UAE at the beginning of next year and was wondering what's the best way to transferring money without loosing to much.

I understand that banks and any financial service provider want a piece of the cake but you probably have experience with fees and not so good exchange rates.

Thanks,
Ben


----------



## looper (Apr 30, 2013)

Ben1337 said:


> Hi Folks,
> 
> first thanks for all this valuable information in this forum.
> 
> ...


Hi Ben,

almost welcome to Dubai! I am using my bank (ADCB) to invest it in stocks/commodities...their exchange rate is fair. I don't think there is a way to transfer it without any losses......maybe buying gold here and selling it in Europe is an idea?


----------



## Jager (May 26, 2012)

There are two options for currency exchange - the "retail market" such as banks and the mall based exchange houses that will typically take 2 - 3% and the "wholesale market" with specalised exchange houses who take 0.5 - 1% (but based on larger volumes). 

Not sure if I'm allowed to a link to one of the 'Wholesale' providers, but if you Google "Global" "Currency" "Exchange" "UAE" I'm sure you can find it  .


----------



## saraswat (Apr 28, 2012)

Another thing to do would be to look up the maximum amounts of your currency customs allows you to carry with you into the UAE. The regulations are extremely lax in that regard in comparison to other countries. 

Once here, just watch for a good opportunity to get it converted at any of the many exchange houses here. For large amounts they will give you a better rate that what is initially quoted, just make sure you ask them for the better rate.


----------



## chestnut (Apr 1, 2013)

Note that some countries may have a maximum on what you can take out in cash and convertibles.


----------



## garry79 (Sep 5, 2013)

I use HiFx to move finds from the UK. There's no charge for transfers over a certain amount and the rates seem good.


----------



## saraswat (Apr 28, 2012)

chestnut said:


> Note that some countries may have a maximum on what you can take out in cash and convertibles.


Good point, I forgot that technicality, specially considering its Germany and EU regulations etc ..


----------

