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Money Transfers from Russia and CIS Countries to the UAE and vice versa

Article image: Money Transfers from Russia and CIS Countries to the UAE and vice versa

While staying in a tourist trip in the territory of the United Arab Emirates, or while being on the training, the need to transfer money can become a subject. How to transfer money from Russia and CIS countries to the UAE and vice versa? In this article we will examine the most popular possibilities of the international money transfers, which are introduced in the domestic market of the United Arab Emirates.

Western Union Money Transfer System

This payment system is represented almost all over the globe, and it is its main advantage. It is one of the well-known services with a large branch network, which allows clients to make money transfers from any point of the globe. Money transfers are made in a short period of time, and the amount can be withdrawn immediately after the transferring. The commission of the system is from 3 to 8 percent of the transferred amount. As to the money transfers from the territory of the Emirates, if the amount exceeds 2 thousand Dirhams, the sender will be required to produce a valid foreign passport and a mobile phone number.

Money Gram Money Transfer System

It is a similar service that allows to carry out quick money transfers. The main difference of this payment system is the existence of partnership agreements with various financial institutions, public postal operators and large trading network. Among the competitive advantages of the Money Gram service, a relatively low commission rate (1%) can be singled out. The branch network of the services includes more than three hundred representative offices, including the ones on the territory of the Emirates.

UNIStream Money Transfer System

UNIStream service allows one to make both direct money transfers, and online transfers. The system possesses a Russian language network resource, the users of which can send money transfers using a bank card or e-wallet. Besides, the UNIStream payment system offers a quite flexible pricing policy (from 2.1 to 2.3%).

Bank Remittances and SWIFT System

This method of money transferring remains the most convenient, cost-effective and safe. In fact, such remittances are the money transfers from one personal account to another. This category is characterized by the high swiftness of transfers, but one should bear in mind one factor. In particular, some banking institutions may charge an additional commission when receiving the money transfers. Besides, the SWIFT Money Transfer System operates only with the foreign currency bank accounts.

Conclusion

Historically it has happened that the United Arab Emirates is located at the intersection of the trade and financial routes of the West, Europe, Africa and Asia. Today it is a strategically important platform and the largest transport hub. Every year the entrepreneurs and experts from all over the world come to the United Arab Emirates. That is why the government of the country pays great importance to the development of the financial services industry, and offers specialized services, which allow to make fast and safe money transfers. The local financial market represents companies and money transfer systems that have already shown themselves with the best side and which are tested by many years of practice.

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