Remittance from Dubai to China

Generally, remittances are sent from overseas to domestic banks, and banks with cross-border remittance function can be selected for transfer and remittance. The specific requirements take a long time, and the fees are subject to the bank announcement.

1. UAE is one of the largest overseas remittance countries in the world. According to the latest data from the Central Bank of the United Arab Emirates, in the fourth quarter of 20 18, its residents remitted about 39.9 billion dirhams to their country. It also has some of the busiest remittance channels, with Indians accounting for 34.2% of the total remittance in the same period, followed by Pakistan and the Philippines.

Although highly competitive industries help reduce prices, new technologies also make remittance faster and more convenient. But if you want the best price, you must compare various options, because they may include hidden fees, high prepaid fees and huge exchange rate differences.

2. According to the data of the Central Bank of UAE, foreign exchange is the most popular remittance method in UAE, accounting for nearly three quarters of all remittance transactions in the country. 20 18 in the fourth quarter, the exchange remitted 30.4 billion dirhams, while the bank only remitted 9.5 billion dirhams.

Those who are looking for the best deal can compare prices on the World Bank portal, which has opened remittance channels for low-and middle-income countries such as India, Pakistan and the Philippines. To compare the prices, we remitted a small amount of cash-between 700 dirhams and 1800 dirhams.

3. Although customers can choose different transfer services (including inter-bank transfer, cash-to-cash transfer and even mobile wallet transfer), the best transaction is usually account-to-account transfer, not cash. According to a company representative, in Al Rostamani Exchange, the speed of remittance from one bank account to another is much higher than that from cash to cash.

The Gulf Cooperation Council Exchange has always been listed as one of the cheapest exchanges in the World Bank list, and only a few beneficiary countries are allowed to make online bank transfers, while other countries require cash deposits in branches. However, according to the representative of the company, the charges for cash and online transfer are the same, and there is little difference in handling fees.