Licensed Exchange Houses: Who Qualifies and What You Get
Learn how to use licensed exchange houses in the UAE for secure international money transfers and what to watch out for when sending money.
Licensed exchange houses are regulated businesses that allow you to move your money from the UAE to other countries safely.
Who it's for
This service is available to all residents living in the United Arab Emirates.
What you get
You get a regulated and secure way to make international money transfers, ensuring your funds are handled according to official standards.
What it costs you
You will need to pay transaction fees for each transfer and accept the exchange rate margins set by the provider.
The catch to know
The rates and fees can vary significantly between different providers, so you should always compare rates between different houses before sending your money.
How to apply
- Locate a licensed exchange house in your area or use their digital platform.
- Provide the necessary identification required for the transfer.
- Enter the recipient's details and the amount you wish to send.
- Confirm the transaction and keep your receipt for your records.