UAE Exchange review 2021: Fees, rates, is it safe? | finder.com
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UAE Exchange review

Get competitive exchange rates on your next overseas transfer.

Tim Falk
Tim Falk

Updated . What changed?

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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

Compare UAE Exchange to other brands

Find similar providers who can help you send a transfer here.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
OFX International Money Transfers
$1,000 1 day USD 0.00 0.834 EUR 4,168 OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies. Go to site Show details
CurrencyTransfer
GBP 1,000 1 - 2 days USD 0.00 0.834 EUR 4,168 Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace. 		Go to site Show details
XE Money Transfer
USD 1 Same day USD 0.00 0.838 EUR 4,191 XE has fast transfers with no fees and a range of foreign currency tools. Go to site Show details
Remitly International Money Transfers
$10 Within an hour USD 1.99 0.825 EUR 4,125 Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options. 		Go to site Show details
Wise International Money Transfers
$1 1 - 2 days USD 40.00 0.842 EUR
4,177
 Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
WorldRemit International Money Transfers
$1 Within an hour USD 3.99 0.839 EUR 4,189 WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups. 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.

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:

  1. Navigate to the Money2Anwhere website and click Sign Up.
  2. Complete the new user form.
  3. Email or fax any necessary documents, which may include your driver’s license or passport.
  4. Check your email for your unique Money2anywhere customer number.
  5. 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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