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Review: UAE Exchange New Zealand international money transfers

Get competitive exchange rates when you send money overseas or exchange foreign currency with UAE Exchange.

This product is not currently available via Finder. Visit the provider's website directly, or compare other options.

Quick verdict

Good for
  • Sending to a wide range of destinations
  • Bank transfers and cash pick-ups
  • Competitive exchange rates
  • Travel money
Not so great for
  • Fee transparency

 

UAE Exchange rates and fees

When you send money overseas with UAE Exchange, there are two costs you’ll need to consider: the exchange rate margin (the difference between the mid-market rate you see on Google and the rate quoted to you) and the transaction fee. However, fees vary depending on where you are sending the money and the type of transfer you select.

Available currencies

UAE Exchange allows you to send money to more than 190 countries around the world. The company also offers a foreign exchange service which customers can use to buy and sell foreign currency. Some of the currencies UAE Exchange supports include:

  • NZD New Zealand dollar
  • GBP British pound sterling
  • CNY Chinese yuan renminbi
  • EUR Euro
  • FJD Fijian dollar
  • INR Indian rupee
  • IDR Indonesian rupiah
  • JPY Japanese yen
  • CAD Canadian dollar
  • SGD Singapore dollar
  • THB Thai baht
  • USD US dollar

What types of transfers can you make with UAE Exchange?

UAE Exchange offers multiple transfer options when you want to send money overseas. Not all options are available in all countries.

  • Online money transfers. UAE Exchange offers online money transfers through Unimoni. This service allows you to send international bank transfers as well as cash pick-up transfers.
  • Telex transfers. UAE Exchange offers telex transfers so you can send money to bank accounts in countries all around the world.
  • Instant bank transfers. UAE Exchange’s FLASHremit service is designed to offer fast transfers to your recipient’s bank account. This transfer option is only available for selected countries.
  • Instant cash transfers. UAE Exchange is an authorised agent to provide the services of MoneyGram and Xpress Money, allowing you to send cash pick-up transfers to hundreds of thousands of collection locations around the world.

Find out more about buying foreign currency

How long does a transfer with UAE Exchange take?

Transfer times vary depending on the transfer method you select and where you are sending your money.

For example, while cash payout transfers can be available for your recipient within minutes, bank transfers can take two or three business days.

What payment methods does UAE Exchange accept?

Once again, the payment methods available from UAE Exchange are dependent on the type of transfer you want to send. However, please note that not all payment options will be available in all countries.

Is UAE Exchange safe to use?

  • Security and regulation: New Zealand arm of the global brand is registered on the Financial Services Providers Register
  • Established: 1980
  • Number of customers: 15 million
  • Reviews: Trustpilot gives UAE Exchange a score of 9.4 out of 10, based on over 6,700 reviews*
  • Global presence: 31 countries
*According to UAE Exchange and Trustpilot on 1 February 2019.

UAE Exchange New Zealand is registered with the Financial Services Providers Register. It is part of UAE Exchange Group (UX Holdings Limited), which operates under the laws of Dubai International Financial Centre.

As for the safety of your money when you send an overseas transfer with UAE Exchange, the security measures in place depend on the transfer method you choose.

How does UAE Exchange make money?

Like many other international money transfer services, UAE Exchange makes money in two ways:

  • By charging transaction fees
  • By adding a margin on top of the mid-market exchange rate

What is UAE Exchange?

UAE Exchange is a global provider of remittances, foreign exchange and payment services. The UAE Exchange group was founded in 1980 and is headquartered in Abu Dhabi. It operates in more than 30 countries around the world and its services have been used by 15 million customers.

While this review focuses largely on UAE Exchange’s international transfers, the company also operates a well-known foreign exchange service for travellers who need overseas currency. UAE Exchange has more than 800 branches around the world where customers can buy and sell all major currencies.

In a nutshell

Pros
  • Established brand. UAE Exchange was established in 1980 and has a presence in more than 30 countries around the world.
  • Choice of pick-up methods. You have the convenience of sending either a bank transfer or a cash pick-up transfer.
  • Competitive exchange rates. UAE Exchange typically offers better exchange rates than the major banks.
  • Foreign exchange service. UAE Exchange is also a well-known provider of foreign exchange services for international travellers looking to buy and sell major currencies.
Cons
  • Limited fee information. If you want to find out what transaction fee will apply to your transfer, you’ll need to sign up for an account first.

How does UAE Exchange compare to other providers?

Want to see how UAE Exchange stacks up against the competition? Check out the table below to compare exchange rates, fees and transfer times across a range of leading money transfer services.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 250 1 - 2 days NZD 0.00 0.725 USD
7,246
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies. Go to site Show details
NZD 250 1 day NZD 0.00 0.725 USD
7,246
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Send has fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
NZD 0 Same day NZD 0.00 0.724 USD
7,239
XE has fast transfers with competitive rates and a range of foreign currency tools. Go to site Show details
NZD 2,000 2 days NZD 0.00 0.725 USD
7,246
Exclusive offer: Discounted exchange rates for all Finder customers.
WorldFirst sends 60+ currencies at competitive rates. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
NZD 250 1 day NZD 0.00 0.725 USD
7,246
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
Go to site Show details
NZD 1 Within an hour NZD 3.99 0.724 USD
7,233
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
NZD 1 1 - 2 days NZD 80.00 0.728 USD
7,217
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
NZD 5 1 - 2 days EUR 3.00 0.722 USD
7,219
Special offer: Zero fees on your first 10 transfers.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
NZD 10,000 1 - 2 days NZD 0.00 0.722 USD
7,217
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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