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-   -   Sending money to the UK (https://britishexpats.com/forum/middle-east-60/sending-money-uk-915004/)

Sara_N Jul 17th 2018 10:55 am

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

reddiva Jul 17th 2018 11:54 am

Re: Sending money to the UK
 

Originally Posted by Sara_N (Post 12534148)
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

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

Don63 Jul 18th 2018 8:20 pm

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.

Millhouse Jul 19th 2018 5:06 am

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.

Taz786 Jul 19th 2018 12:31 pm

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.

Millhouse Jul 19th 2018 1:44 pm

Re: Sending money to the UK
 

Originally Posted by Taz786 (Post 12535494)
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.

Good to see you took my advice.

TopNik Jul 19th 2018 2:38 pm

Re: Sending money to the UK
 

Originally Posted by Millhouse (Post 12535330)
As for tax... sending money has no correlation to your UK tax liability. Get proper tax advice.

:goodpost:

archie159 Aug 7th 2018 1:48 pm

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.

newbieLondon Aug 10th 2018 10:11 pm

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).

scot47 Aug 11th 2018 4:19 pm

Re: Sending money to the UK
 
So you save 45 Dirhams.

Norm_uk Aug 19th 2018 7:18 pm

Re: Sending money to the UK
 

Originally Posted by scot47 (Post 12546837)
So you save 45 Dirhams.

The exchange rate itself is usually where the most savings are made rather than the transfer fee.

N.

Standanista Aug 20th 2018 5:31 am

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.

Millhouse Aug 20th 2018 5:49 am

Re: Sending money to the UK
 

Originally Posted by Standanista (Post 12551299)
Don't use the banks as their rates are rip off. I withdraw my dirhams in cash then go with UAE Exchange.

they will take a cheque and still give you the same rate.

scot47 Aug 20th 2018 3:45 pm

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.

ariskar Sep 19th 2019 4:34 pm

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)?


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