UAE Money Transfers Disrupted by Al Ansari

Money Transfer Disruptions in UAE: Al Ansari's Technical Glitch Puts Families in a Tough Spot

One of the largest money transfer service providers in the United Arab Emirates, Al Ansari Exchange, experienced significant delays in processing transactions initiated over the weekend due to a technical problem. The error affected several expatriate workers who sent money home for immediate family expenses like tuition fees and medical costs.

Money Stuck Due to Technical Glitch

The disruptions began on July 5 when the Al Ansari Exchange system detected a 'minor technical glitch,' impacting the processing of multiple transactions. Some funds in question had not reached their intended recipients even hours or days later. Although the company responded swiftly, the weekend transaction volume and the glitch's aftermath meant some customers were still awaiting confirmation even 48 hours later.

Real Consequences: Missed School Payments, Medication Costs

Many initiated transfers directly after receiving their paychecks. For some, the delay resulted in penalties, such as overdue school fees. For others, the funds were critical for obtaining medical treatments or medications, leading to significant stress due to the transfer delays.

Response and Apology

Al Ansari Exchange, in a statement, emphasized that it immediately contacted financial partners and managed to rectify most transactions. The company highlighted that routine, daily operations were not affected by the problem, and new security measures would be implemented to prevent similar situations in the future. An apology was extended to affected customers for the inconvenience.

Why Is Al Ansari Exchange So Popular?

Al Ansari Exchange is the UAE's largest money exchange and remittance network, serving over 3 million customers monthly. With over 260 branches and 4,000 multilingual employees, it also handles a significant number of transactions through its mobile application. Its annual 'Al Ansari Millionaire' promotion has also contributed to its popularity.

Why Are These Money Transfers Critical?

The UAE is the third-largest remittance-sending country globally. Indian citizens working in the Emirates sent home $21.6 billion in 2023, while Filipino workers sent $1.52 billion. These remittances often mean survival for families back home so any disruption can have serious consequences.

How to Prepare for Similar Situations?

Users are advised to:

Plan transfers in advance and avoid last-minute actions,

Use multiple service providers in case of emergencies,

Monitor transactions' status,

Immediately contact customer service if necessary.

Summary

While Al Ansari Exchange's quick response and apology may be reassuring to many, the incident highlights that even the largest and considered most reliable systems are vulnerable. Money transfer is a critical link in the lives of many working abroad, so the reliability, speed, and transparency of service providers remain crucial factors.

(Source of the article is Al Ansari Exchange's statement.)