ADIB latest GCC bank to launch Visa's real-time cross-border money transfer

Banks in the UAE, Gulf are gunning for greater share of remittance market

Last updated: August 04, 2025 | 10:42

Manoj Nair, Business Editor

2 MIN READ

It's all instant - ADIB's Remit! tie-up with Visa will allow clients to make instant cross-border fund transfers.

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Dubai: The Abu Dhabi headquartered ADIB has rolled out Visa's instant cross-border money transfers, after Emirates NBD and SABB in Saudi Arabia and Qatar's QIB.

The 'Remit!' service from ADIB allows its customers to send money to more than 11 billion cards, digital wallets, and accounts worldwide.

The Visa instant fund transfer option will help banks in the UAE and Gulf expand on gaining a bigger slice of the remittance market too, according to industry sources.

Also Read: ADIB sees record Dh4 billion pre-tax profit for H1 2025, spiking 16%

The new service is meant for 'real-time and convenient cross-border money transfers, allowing individuals to send funds seamlessly for family support, personal needs, or other purposes', said ADIB in a statement.

It also allows Visa to expand further into real-time money movement in the Middle East markets.

Also Read: Remittance relief for UAE expats - no fee hike

"As consumers increasingly seek digital solutions for sending funds abroad, such collaborations help modernize the region’s payments infrastructure and support greater financial inclusion," said a statement.

“We are excited to be the first bank globally to launch such a service, offering our customers a seamless and secure way to send money across the globe,” said Amit Malhotra, Global Head of Consumer Banking, ADIB.

High remittance fees are an issue

According to Visa’s 2025 remittance study:

* 95% of surveyed consumers in the UAE send money abroad at least once per year.

* Of those, 63% prefer to transfer funds digitally from physical locations.

* Nearly 50% cite safety, privacy and speed as key reasons for choosing digital methods.

Yet, they do have 'key pain points'.

"High fees and the need to travel to a physical location to complete a transfer are among the most frequently reported frustrations," the Visa report finds. "Over a third of UAE consumers surveyed say they have encountered such issues when sending money."

According to Salima Gutieva, Visa’s VP and Country Manager for UAE, "In the UAE alone, consumers send money abroad an average of 1.4 times per month.

"This is a clear sign of the demand for fast, secure and reliable transfers."

Visa+

Another fund transfer service, Visa+, allows businesses and financial institutions to send funds using a recipient’s mobile number or email - rather than full account details.

Already active in the UAE, Qatar, and Bahrain, Visa+ helps with 'peer-to-peer payments to business disbursements and cross-border remittances'.

Manoj NairBusiness Editor

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.