[Sandgroper74]

Hi,

I am back in Dubai after returning to Australia for 3 years, and am enjoying reading this forum. I need to transfer money to Australia on a monthly basis and wonder what is the best, most cost effective way to do this? I've looked at the options of Al Ansari E-Exchange and telegraphic transfer through Emirates NBD. Advice would be appreciated.

 

[Raytrace]

Awesome, another sandgroper. I'm looking for the same thing, so I'll be following this thread closely.

 

[Fatenhappy]

Try Ozforex ... used them recently and there was a more than stunningly substantial (I know bad English) difference in the amount for the landed funds home to what the banks (HSBC in particular) were quoting me !!!

There a couple of hoops re identifying yourself initially but once thats done its all good ....

As an aside, they are governed by the Australian financial regulators .... so they are fairly safe !

 

[parthans]

if you have to transfer money regularly, then a money transfer through an exchange house that sends the money to either a recipient / a bank account of your choosing! Its very convenient and the fees are only AED15 (for me to India it is that much) so I think it is easy! If it is one time, and you dont mind paperwork, then go for a bank TT

 

[xchaos777]

I use XE.com between US and Europe regularly. I haven't tried them with a UAE account yet, but will be looking into that soon.

if you have to transfer money regularly, then a money transfer through an exchange house that sends the money to either a recipient / a bank account of your choosing! Its very convenient and the fees are only AED15 (for me to India it is that much) so I think it is easy! If it is one time, and you dont mind paperwork, then go for a bank TT

 

[Sandgroper74]

Outcome of money transfer research

Thank you to everyone for their suggestions regarding money transfer options. I ended up using the Al Ansari exchange house as we didn't leave time to get accounts sorted for online transactions. I think that it is a case of shopping around for the best exchange rate, but also having online accounts opened (with identity checks complete) so you can transfer money at anytime eg. with EX.com or Forex. The Al Ansari E-Exchange seemed to offer the best rate at the time and the bank the worst.

Our money was in Australia in 1 business day which was exceptionally fast.