Compare Before You Transfer Money

Sending money to loved ones or paying for international business transactions has never been easier, thanks to the number of money transfer apps available. With so many options available, how do you choose the best option for your requirements, ensuring you get the best value every time you remit.
In the UAE, remittances are offered by exchange houses, banks, digital wallets and even telcos. These serve as lifelines for expats supporting their families back home, paying their children's tuition fees abroad, making investments and businesses engaging in trade.

The most important reason to compare remittance services is to save more on your money transfers. Exchange rates and fees vary between the different money transfer apps, and by comparing them, you can find the best value for your requirements.

Exchange Rates: Exchange rates are very volatile, and they differ amongst the providers. Although the difference of 2–3 basis points may seem marginal, it can result in considerable gains or losses, particularly when transferring large amounts of money. To check the accurate difference, always compare by inputting the actual volume you wish to transfer.

Fees and Charges: International money transfers are typically subject to a transfer fee. Additionally, in some cases, there are intermediary bank fees, or a disbursement fee that is charged at the recipient's end. Always check the entire fee structure before initiating a money transfer, as these additional fees can cause a huge dent in the total money received.

Delivery Speed: Transfer speeds can vary based on the transfer type and the payment mode. Though instant money transfers are becoming increasingly common for both bank transfers and cash pickups, they may come at a higher cost, which is usually blended with the rate. It is always better to compare and check the difference before choosing any option.

Payment Methods: Most online money transfer providers offer a variety of payment options for sending money abroad. You may choose between debit card, credit card, bank transfer or wire transfer, depending on what's most convenient for you. Some services also offer the option of initiating a transfer online and making cash payments at their branches. transfer.

Remit4X can help you compare the various online money transfer services and choose the best one. You can compare based on your criteria and select the most appropriate provider based on all the below factors:

• Exchange Rates


• Fee and other charges


• Transfer Time


• Payment Modes


• Offers

In today’s world, with the increasing number of choices, comparing remittance services is not just a wise financial decision; it's a necessity. By considering factors like exchange rates, fees, delivery speed, and other benefits, you can ensure that you get the best value from your money transfers back home.