# Cheapest way to transfer money to my US bank account?



## thirty6chambers (Jul 31, 2009)

I'd like to transfer some money back to my US account back home but have been advised to not go through my bank due to the low exchange rate. Anyone have any suggestions for a really good and cost effective way to transfer money to an overseas account?


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## rsinner (Feb 3, 2009)

Any of the money transfer places you see in malls etc - UAE exchange, Al Ansari exchange etc etc. My only suggestion would be that do not use them in popular places like Mall of the Emirates etc where their exchange rate is worse than say places like Lulu Hypermarket complex in Al Barsha (which is 2 mins away from MOE)


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## DubaiATC (Jun 26, 2010)

thirty6chambers said:


> I'd like to transfer some money back to my US account back home but have been advised to not go through my bank due to the low exchange rate. Anyone have any suggestions for a really good and cost effective way to transfer money to an overseas account?


First of all, the exchange rate is pegged to the US Dollar, so that shouldn't be an issue transferring money to the US. My bank, Union National Bank (UNB) charges 35 Dhs ($9.53 USD) per transfer, but I get one free transfer per month because the account was set up through my company. Good luck.


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## rsinner (Feb 3, 2009)

the exchange rate surely is pegged, but various places have a spread - so you may see something like 3.67 to a dollar to may be 3.70 or even 3.75 (at hotels)


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## marc (Mar 10, 2008)

I can get you the best rate, PM me and I will give you the details!


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## Tropicana (Apr 29, 2010)

The rate for buying dollars is generally never less than 3.675, but that is for transfers less that US$ 3K. Dont know if the charges will be less for larger sums

When i transferred cash to my B of A account, i used to pay 45 dhs to UAE Exchange, 15$ would get deducted on the way, and Bof A would charge another 12$ as a wire transfer fee.


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## marc (Mar 10, 2008)

When doing quite large sums, every Pip counts! 

The company I use don't charge anything to the remitter, or beneficiary no transfer fee - from either side.


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## indoMLA (Feb 6, 2011)

marc said:


> I can get you the best rate, PM me and I will give you the details!


PM sent, Boss.


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## Maverick1984 (Mar 8, 2011)

marc said:


> When doing quite large sums, every Pip counts!


This is very true!
I have a friend who uses a service that provides the closest market rate transfers ever but i've yet to ask who with. I will get back to him and post an update


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