Homing in on money transfers
Six UAE residents tell Staff Writer Lakshmi Shanker about their preferred method of sending money home
Last updated:
1 MIN READ
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Sajini Vasant,Indian, Senior Client Account Manager, PAGUS World Group
I use bank transfers only as an emergency or if the payment is urgent. I transfer the money into the recipient's account or into mine and let them use one of my signed cheques. Otherwise I use UAE Exchange because it has good rates and is pretty quick.
I use bank transfers only as an emergency or if the payment is urgent. I transfer the money into the recipient's account or into mine and let them use one of my signed cheques. Otherwise I use UAE Exchange because it has good rates and is pretty quick.
Mohammad Fousdeel,Sri Lankan, Motor City Brook Field Multiplex Services
I send my money home through the bank. My company arranges to send it through the Commercial Bank to my family in Sri Lanka. That way it is more convenient.
I send my money home through the bank. My company arranges to send it through the Commercial Bank to my family in Sri Lanka. That way it is more convenient.
Ziad Sayed,Lebanese, Sales Manager, Anixter Middle East
I use the bank to send money home because I hold an account at HSBC here as well as in Lebanon. It makes the transfer easier and cheaper. I even get two free transfers, so it is convenient.
I use the bank to send money home because I hold an account at HSBC here as well as in Lebanon. It makes the transfer easier and cheaper. I even get two free transfers, so it is convenient.
Rekha Koul,Indian, Homemaker
I use the Wall Street Exchange because it provides good rates whereas bank exchange rates are higher and they have high transfer rates as well. However, I remit money home very rarely, about four to five times a year.
I use the Wall Street Exchange because it provides good rates whereas bank exchange rates are higher and they have high transfer rates as well. However, I remit money home very rarely, about four to five times a year.
Safi Boudjeniba, Algerian, Training and Service Manager, Rosemount Measurement
We have no money exchanges or methods to send money to Algeria except for Western Union. The rates are a bit high, about 5 per cent, but it is the only way. However, if the amount is small, I convert the money into euros/dollars and carry it home with me.
We have no money exchanges or methods to send money to Algeria except for Western Union. The rates are a bit high, about 5 per cent, but it is the only way. However, if the amount is small, I convert the money into euros/dollars and carry it home with me.
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