Expat in UAE

Hello, I have my bank account with ADCB in UAE and had the provision for free bank transfers to the UK, however, when I actually transferred money, I was charged over 100 UAE Dirham and was told it was because of the intermediate bank involved. I am now considering changing my bank with the possibility of a free bank transfer from the UAE to the UK. Any suggestions/banks in the UAE that could offer free bank transfers? I am with HSBC in the UK. Thanks

csdf

HSBC offers Global Transfers which are basically instant transfers to another HSBC account in your name (and possibly in someone else's name too - I've not tried), with no transfer fee. That's basically the reason I picked them when I moved here.

UKMS

I bank with HSBC and do shift money back to HSBC in the UK but I also now use Wise (TransferWise) and Revolut, it’s fairly easy to research whether either of these would fit your circumstances. You really need to factor in the exchange rate as well as the 100aed fee because a zero fee doesn’t always mean a free transfer.

csdf

True, but unless you're transferring 100s of thousands of dirhams the difference in exchange rates is probably only going to be worth a few tens of pounds. And if you're transferring 100s of thousands of dirhams, a few tens of pounds is hardly here or there.

UKMS

True but the OP posted because they are concerned about 100aed ……. On a similar topic my elderly mother moves £1000 a month from HSBC to an EU bank, which I now do for her via Wise and a combination of fees and exchange rate it saves around 40 euros a month. A few tens of pounds soon adds up.

csdf

It may be worth noting that if you make large transfers with HSBC you can also negotiate a better FX rate.

Expat in UAE

Thanks folks for useful suggestions. I am now considering opening up an account with HSBC in UAE and it looks by far the best option to avoid bank transfer fees because I will be transferring to my account in HSBC back in the UK.