MONEY TRANSFER / REMITTANCE SERVICES
This Key Facts Statement outlines the essential features, fees, and service charges for the remittance services offered by Al Bader Exchange.
Available Remittance Services
You can send money through:
- Bank Account Credit (Local and International)
- Cash payout to an individual
- Mobile Wallet Credit
Al Bader Exchange provides secure, fast, and efficient remittance services for both individual and corporate customers.
Remittance Products & Service Options
Service Type | Availability |
Transfer to UAE Bank Accounts | Individual & Corporate |
Transfer to International Banks | Individual & Corporate |
Cash Pickup | Individual Only |
Mobile Wallet Credit | Individual Only |
Fees & Charges
Service Type | Currency | Mode | Service Charge | Delivery Time |
UAE Local Bank Transfers | AED | UAEFTS | AED 15.00 – AED 25.00 | UAEFTS: 1–2 working days |
Wires Transfers | All Currencies | SWIFT/API | AED 10.50 – AED 300.00 | 1 – 4 working days |
Cash Pickup | Major Currencies | SWIFT/API | AED 10.50 – AED 300.00 | 1 – 4 working days |
Mobile Wallet Credit | Major Currencies | SWIFT/API | AED 10.50 – AED 300.00 | 1 – 4 working days |
An additional 5% VAT will be applied to service charges. Intermediary and/or beneficiary bank charges may also apply, depending on the destination country.
Important Warnings & Disclaimers
- All remittance services are subject to fluctuations in foreign exchange rates.
- Correspondent banks or intermediary financial institutions may deduct charges before the funds reach the beneficiary.
- Processing time may vary depending on the destination country, intermediary banks, and local holidays.
- Refunds on cancelled or rejected transactions will be made at the lower of the issuance rate or prevailing buying rate.
- Al Bader Exchange reserves the unilateral right to terminate or suspend access to their services for customers who violate any provision of these terms and conditions and engage in fraudulent or suspicious activities
- Customers must ensure that all information provided is accurate and complete. Incorrect information may lead to penalties or delays.
- Additional and potentially substantial fees may be imposed by the receiving entities if errors or omissions in the remittance information provided by the consumer result in transfer rejection or delays
- Transactions may be prohibited, delayed, held, fund frozen or cancelled due to regulatory or compliance checks
- In compliance with the Consumer Protection Standards issued by the Central Bank of the UAE (CBUAE), a cooling-off period of five (5) business days applies to all products offered by Al Bader Exchange. However, due to the instant nature of remittance services, customers may expressly choose to waive this right.
- Al Bader Exchange shall be responsible for safeguarding consumers’ data and ensuring its confidentiality, whether held internally or with a third party. Data will only be disclosed to authorize, facilitate, administer, or process applications/transactions, or to respond to inquiries from relevant law enforcement authorities, both within and outside the UAE. In the event of any data breach, customers will be promptly notified through our official communication channels.
- Al Bader Exchange, as a Licensed Financial Institution, will provide Consumers with a minimum of sixty (60) calendar days’ notice prior to implementing any permissible changes to the terms and conditions of a Financial Product and/or Service, as well as any changes to applicable Fees.