UAE Exchange offers money transfers to more than 190 countries and owns a number of smaller transfer providers. Which one you should use depends on where you live.
Must read: Not available for US senders
UAE Exchange doesn’t have any branches in the US.
If you’re a US sender, you can send money through one of their US subsidiaries, Money2Anywhere, or compare other providers that are available here.
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
See our full list of pros and cons below.
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Compare UAE Exchange to other brands
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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.
It’s also the parent company to a number of smaller money transfer companies, including Money2Anywhere, which is available to US senders.
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’re 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:
- GBP British pound sterling
- CAD Canadian dollar
- CNY Chinese yuan renminbi
- EUR Euro
- FJD Fijian dollar
- INR Indian rupee
- IDR Indonesian rupiah
- JPY Japanese yen
- NZD New Zealand 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:
- Online money transfers. UAE Exchange offers online money transfers through its various subsidiaries and services, including Unimoni, FLASHremit and Money2Anywhere. Which service is available to you depends on where you live.
- Instant cash transfers. UAE Exchange is an authorized agent to provide the services of MoneyGram and Xpress Money, allowing you to send cash pickup transfers to hundreds of thousands of collection locations around the world.
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.
Benefits and drawbacks
Pros
- Established brand. UAE Exchange was established in 1980 and has a presence in more than 30 countries around the world.
- Choice of pickup 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 travelers 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 check directly with the service or subsidiary you’re interested in using.
- Limited availability. In some countries, you’ll need to use one of UAE’s subsidiaries to send money rather than UAE itself.
How do I make an international money transfer with UAE Exchange?
In the US, UAE Exchange’s international transfer service is offered under the Money2Anywhere brand name. Here’s what you’ll need to do to send a transfer:
- Navigate to the Money2Anwhere website and click Sign Up.
- Complete the new user form.
- Email or fax any necessary documents, which may include your driver’s license or passport.
- Check your email for your unique Money2anywhere customer number.
- Log in to your new account to send your first transfer.
Bottom line
UAE is an international company with a number of smaller subsidiaries that can be used to send money. Which company you’ll use depends on where you’ll live. To get the best deal on your next transfer, compare international transfer providers before getting started.
Frequently asked questions
Image source: Supplied, Photographer: UAE Exchange
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