Transferwise is transparent about the conversion rate applied up-front and charges fees as low as under 1% and is very open about it. You know what you will be charged when you place the request.
No surprises with any of these alternatives – you know up front what you are being charged.
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We’re super excited to announce that you can now send money from AED to 70+ countries!
This makes TransferWise the first fully online money transfer service in the UAE.
With the UAE being 1 of the top 5 countries worldwide for sending money overseas, we’re moving closer towards our mission of making sending money around the world cheaper, fairer and more convenient.
Currency route information
- Available to consumer users only
- Top target currencies on TransferWise so far have been GBP, EUR, AUD, BRL
- Expected core currencies in the future GBP, EUR, USD, INR, PKR, PHP, THB
Key marketing messaging
- On average we’re 2x cheaper than banks and exchange houses
- We’re particularly competitive for sending between 1000 – 50K AED
- Send money from AED to 70+ countries with ability to send to bank accounts or mobile wallets in the Philippines
- Convenient – can track status of transfer via desktop or mobile app, fully online service so no need to visit exchange houses in person, sending via bank transfer rather than SWIFT transfer so beneficiary avoids fees
- Need to include the following information about TransferWise when mentioning the ability to send money from AED:
- Full version (Recommended): TransferWise Nuqud Ltd is regulated by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). Its parent company, TransferWise Ltd, is an authorised Electronic Money Institution regulated by the Financial Conduct Authority (FCA) in the UK.
- Shortened version: Regulated by ADGM’s Financial Services Regulatory Authority
- Shortest version: Regulated by the FRSA
- Trust will be particularly important factor in the current climate so pushing the regulatory messaging above will help with this
Who are our main target audience?
Expats (~250K in UAE)
Send money back home monthly or in a lump sum every 2-3 months. Usually work in oil, gas, education, finance and investment sectors
Mostly come from US, UK, Brazil, France, Italy, Germany, Canada, Australia, Spain, New Zealand, Singapore