Sending money to the UK
#1
Just Joined
Thread Starter
Joined: Jul 2018
Posts: 1
Sending money to the UK
Hi
We are moving to Abu dhabi and want to know if it is possible to send money to the UK monthly to cover some costs without taxes etc. Whats the best way of doing this, which companies etc
help would be much appreciated
We are moving to Abu dhabi and want to know if it is possible to send money to the UK monthly to cover some costs without taxes etc. Whats the best way of doing this, which companies etc
help would be much appreciated
#2
BE Enthusiast
Joined: Mar 2018
Location: Dubai
Posts: 376
Re: Sending money to the UK
I do mine via my bank the (HSBC) all done online for a small fee ( banks charge different amounts though) Unless you plan on going into and staying the UK for more than 90 days within a tax year then you shouldn't be taxed on this
#3
Forum Regular
Joined: Jan 2010
Location: Egypt
Posts: 30
Re: Sending money to the UK
As per above, HSBC are excellent with on line banking when done via International Transfers. They charge 150 AED per transaction and convert to GBP easily as an "on the spot transaction". From experience, if you get your transaction complete by 10am UAE time it hits the UK bank in GBP in the afternoon (Mon-Thurs). Only draw back is that for this to happen the receiving bank must be listed in the HSBC UAE database which you set up beforehand as the receiving bank. Failing this UAE Exchange provide a service but they are a separate entity to HSBC.
#4
Re: Sending money to the UK
You guys are throwing money away if using HSBC online transfers.
The small fee isn’t where you lose the money. It’ll be the god awful rates they provide.
Go to a proper broker or uae exchange. Might be a bit slower but could be 10pct different in rates.
As for tax... sending money has no correlation to your UK tax liability. Get proper tax advice.
The small fee isn’t where you lose the money. It’ll be the god awful rates they provide.
Go to a proper broker or uae exchange. Might be a bit slower but could be 10pct different in rates.
As for tax... sending money has no correlation to your UK tax liability. Get proper tax advice.
#5
Forum Regular
Joined: Apr 2015
Posts: 156
Re: Sending money to the UK
I use UAE exchange just for the fact their rate is better than banks and transfer fee is AED 50.
Depending on the amount you're willing to transfer, you can even negotiate a better rate than displayed by speaking to the branch manager.
Depending on the amount you're willing to transfer, you can even negotiate a better rate than displayed by speaking to the branch manager.
#7
BE Enthusiast
Joined: Oct 2010
Posts: 547
Re: Sending money to the UK
MoneyCorp (who I have used for years), MoneyMover (who I have not yet used, but recently created an account with). Both have a few set-up hurdles (identity, addresses etc) but after that are dead easy, can do from your computer, and usually comfortably beat the banks on rates.
#8
Just Joined
Joined: Sep 2015
Posts: 4
Re: Sending money to the UK
After much research I found UAE Exchange is best in terms of ease (now online possible) and exchange rates. They charge 45 AED per transaction plus £15 in the U.K. bank (my account is in HSBC).
#9
Lost in BE Cyberspace
Joined: Nov 2012
Location: bute
Posts: 9,740
Re: Sending money to the UK
So you save 45 Dirhams.
#11
BE Enthusiast
Joined: Sep 2014
Location: Hilton Lounge 22nd Floor 1800-2000
Posts: 330
Re: Sending money to the UK
Don't use the banks as their rates are rip off. I withdraw my dirhams in cash then go with UAE Exchange.
#13
Lost in BE Cyberspace
Joined: Nov 2012
Location: bute
Posts: 9,740
Re: Sending money to the UK
Tou can be caught with a tax liability if you are only out of the Uk foir a short period. Get advice.
#14
Just Joined
Joined: Sep 2019
Posts: 29
Re: Sending money to the UK
Guys, what is your experience with HSBC Global View Transfers?
(only available to Premier and Advance customers)
They advertise them as instant and with 0 fees.
How are HSBC exchange rates for Premier custormers with Global View (for transfer between their HSBC Premier accounts in two countries: UK & UAE)?
(only available to Premier and Advance customers)
They advertise them as instant and with 0 fees.
How are HSBC exchange rates for Premier custormers with Global View (for transfer between their HSBC Premier accounts in two countries: UK & UAE)?
#15
Re: Sending money to the UK
Guys, what is your experience with HSBC Global View Transfers?
(only available to Premier and Advance customers)
They advertise them as instant and with 0 fees.
How are HSBC exchange rates for Premier custormers with Global View (for transfer between their HSBC Premier accounts in two countries: UK & UAE)?
(only available to Premier and Advance customers)
They advertise them as instant and with 0 fees.
How are HSBC exchange rates for Premier custormers with Global View (for transfer between their HSBC Premier accounts in two countries: UK & UAE)?