Free Transfers Remain: Changes at Emirates NBD

Free Transfers Still to Six Countries: Changes at Emirates NBD

For expatriate workers living in the United Arab Emirates, a crucial issue is the cost of remittances. Emirates NBD, one of the largest banks in the UAE, confirmed that from September 1, they will charge a fee for every international transfer, except for six selected countries. These countries are India, Pakistan, the Philippines, Egypt, Sri Lanka, and the United Kingdom.

What changes and what remains free?

Emirates NBD previously informed its customers via email that international transfers through the DirectRemit service would be chargeable from September 1, with a fee of up to 26.25 dirhams, including VAT. However, the bank highlighted that transfers to the above six countries will remain free, provided the amount reaches 100 dirhams, and the transfer is made through the Emirates NBD app.

Expanded services and new target countries

Emirates NBD announced that it is expanding its DirectRemit service to more than 30 new countries. Transfers to these countries occur in near real-time without any intermediary bank fees – customers only need to pay a handling fee of a maximum of 26.25 dirhams.

Customers using Private Banking, Priority Banking, or Personal Banking Beyond packages can continue to transfer internationally for free to any destination.

What is DirectRemit?

DirectRemit is Emirates NBD's digital money transfer system, allowing customers to send money to India, Pakistan, the Philippines, Sri Lanka, Egypt, or the United Kingdom in 60 seconds. Due to its speed and zero fees, it is one of the most popular services among expatriates.

Alternatives to bank transfers

People without bank accounts do not have to give up the possibility of quick and cheap transfers. In the UAE, several apps such as Botim, Careem Pay, e& money, or Taptap Send operate, offering money transfers to other countries with minimal or zero fees.

These applications often do not require account opening or registration fees. A valid UAE mobile phone number, a bank card, and in some cases, online banking access is sufficient. Through the apps, users can not only send money but also pay bills and even shop in stores.

The UAE remains one of the world's largest remitters

The United Arab Emirates is the world's third-largest remitter after the USA and Saudi Arabia. Last year, Indian citizens working in the UAE sent home $21.6 billion, accounting for 19.2% of the total remittance volume to India. Filipino workers also sent a significant amount, $1.52 billion, home in 2024, setting a record for global Filipino remittances, exceeding $38 billion.

Summary

Although Emirates NBD will introduce international transfer fees from September, DirectRemit transactions to the six selected countries will remain free. Expatriates should choose their target country and transfer method wisely, as the range of options has expanded, and providers offer increasingly competitive fees.

(Source: Emirates NBD announcement.)