# Sending money from dubai



## ogginiho (Jan 9, 2013)

Hi all,

I'm soon to move out to dubai for a account management job but still have financial commitments in the uk with my morgage etc, is there any restrictions on transferring money a uk account or a threshold of how much can be sent monthly?

Any help a


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## miss_simmons1 (Dec 16, 2012)

I don't know the answer to this but have the exact same question, hopefully someone can advise!


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## deevineb (Apr 12, 2012)

ogginiho said:


> Hi all,
> 
> I'm soon to move out to dubai for a account management job but still have financial commitments in the uk with my morgage etc, is there any restrictions on transferring money a uk account or a threshold of how much can be sent monthly?
> 
> Any help a


Hi

Have you opened a bank account in the UAE yet? 

There is definitely a charge to transfer money back to the UK and as with UK banks, UAE bank charges vary according to which bank you are with. If you currently bank with HSBC, you can find go into a UK branch and find out what the charges will be. If you are going to bank with any of the other UAE banks, you may have to ring them direct. 

If you have a HSBC Premier account however, there is no charge to transfer money back to the UK.

There will be a threshold of how much can be sent monthly but again, this will vary according to the bank's own rates and your salary. You could get around this by sending money daily or weekly but up to a certain limit.


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## rsinner (Feb 3, 2009)

deevineb said:


> If you have a HSBC Premier account however, there is no charge to transfer money back to the UK.


In case you havent realised it yet, the "free" transfer is quite expensive because HSBC are probably screwing you on the exchange rates. 
There are a number of exchange houses that give a good rate (but there are transfer fees - for UK probably 50 Dhs per transfer - and also may be fees at the receiving bank's end depending on the bank).
For large transfers some recommend currency houses like GCEN - I was quoted a very poor rate even for an amount like 70K Dhs, but this was for an INR transfer. for GBP transfers the rate may be better.
WHatever you do, take some time and shop around.


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## new_me (Aug 2, 2012)

Al Rostamani Exchange has a service for money transfer straight to an account. It takes about 2-3 working days but its way cheaper. For 10000 US$ you'll pay about $40 transfer fee.


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## XDoodlebugger (Jan 24, 2012)

ogginiho said:


> Hi all,
> 
> I'm soon to move out to dubai for a account management job but still have financial commitments in the uk with my morgage etc, is there any restrictions on transferring money a uk account or a threshold of how much can be sent monthly?
> 
> Any help a


Easy to do and for the amounts you are probably talking about limits will not be an issue. I regularly send money out, usually in AED 15,000 increments direct from my HSBC account to a US $ account in the USA.

Before I had my bank account I used Western Union (expensive, rookie mistake) and then Wall Street Exchange in the Mall of the Emirates (fairly cheap) on a regular basis.


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## rsinner (Feb 3, 2009)

XDoodle****** said:


> Easy to do and for the amounts you are probably talking about limits will not be an issue. I regularly send money out, usually in AED 15,000 increments direct from my HSBC account to a US $ account in the USA.
> 
> Before I had my bank account I used Western Union (expensive, rookie mistake) and then Wall Street Exchange in the Mall of the Emirates (fairly cheap) on a regular basis.


For USD, the spreads are not huge so the rates are not very different across different modes of transfer (but add up if the amounts transferred are high). For other currencies, it makes a lot more sense to shop around


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## fcjb1970 (Apr 30, 2010)

rsinner said:


> For USD, the spreads are not huge so the rates are not very different across different modes of transfer (but add up if the amounts transferred are high). For other currencies, it makes a lot more sense to shop around


So this is the second thread you have recently made this statement. Just curious how much research you have put into transferring $US back to the USA. The truth is that yes the AED is pegged to the $US, but the rates given can vary significantly, as do the fees charged.


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## rsinner (Feb 3, 2009)

fcjb1970 said:


> So this is the second thread you have recently made this statement. Just curious how much research you have put into transferring $US back to the USA. The truth is that yes the AED is pegged to the $US, but the rates given can vary significantly, as do the fees charged.


I am sure, I havent done much research  Just transferred once, though I have exchanged cash a bunch of times (which does not really count).
The one time I transferred, HSBC's rates were not too different from what exchange houses were offering. 
I just checked my account, and HSBC is offering circa 3.69. Exchange houses generally have it around 3.68 or even high 3.67s. So unless you are transferring a huge amount, the spread does not affect things a lot. What you need to watch out for are transfer fees at both ends. However, for INR or GBP, the rates can vary a lot. That was my point. 

I cringe whenever someone says they use HSBC for transfers because they are free.


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## lizaspik (Jan 16, 2013)

I use Global Currency Exchange, both ways (UK-Dubai-UK) you will need a bank account here in UAE to do this. They have a limit of 10,000 GBP when I did it last time, they were the best rate i found by far. Takes about 4 days though.


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## 200256 (Jan 16, 2013)

might try also online via libertyreserve thingy (I assume it's not illegal to use it in UAE)...
I'll look into that soon and will post a thread which way I found cheapest...


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## andriaa (Dec 9, 2012)

Thanks for the info friends


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## Bostin (Jan 21, 2013)

*Money Laundering*

Hi, the £10,000 limit probably relates to money laundering requirements.


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