MASHREQ BANK UK POUND & EURO to UAE DIRHAM EXCHANGE RATES
| MASHREQ BANK | MIN. TRANSFER | SPEED | FX MARGIN RATE | *GUIDE RATES | MORE DETAILS |
|---|---|---|---|---|---|
| GBP £ - to AED | NO MINIMUM | 5/7 DAYS | 2.5% | 4.422 |  |
| EUR € - to AED | NO MINIMUM | 5/7 DAYS | 2.5% | 3.886 | |
| BROKER RATES | MIN. TRANSFER | SPEED | FX MARGIN RATE | *GUIDE RATES | MORE DETAILS |
| GBP £ - to AED | From £100 | From 1 DAY | From 0.7% | 4.503 |  |
| EUR € - to AED | From £100 | From 1 DAY | From 0.7% | 3.958 | |
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
MASHREQ BANK – RECOMMENDED CURRENCY TRANSFER SERVICES
| BROKER RATES: GBP/AED | MIN. TRANSFER | SPEED | FX MARGIN RATE | *GUIDE RATE: GBP/AED | MORE DETAILS |
|---|---|---|---|---|---|
| CURRENCIES DIRECT | £100 | 1 DAY | 0.7 to 1.0% | 4.49 to 4.503 |  |
| TORFX | £250 | 1 DAY | 0.7% | 4.499 | |
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Question: How many UAE dirhams will I receive for my currency transfer, after Mashreq Bank fees and charges?
Answer: Using Mashreq Bank services, the exchange rates shown are typical. All banks have individual rates and commission structures for international currency transfers. Find the latest exchange rates for an overseas bank using our Bank Rate Comparison below:
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Mashreq Bank International Money Transfers
Save on the exchange rate conversion when transferring money or making regular payments overseas from your Mashreq bank account in AED, GBP, EURO, USD and other currencies. Mashreq bank international money transfers to or from the UAE have higher transaction charges, due to a less competitive exchange rate offered by Mashreq bank. Skip to: UAE Money Transfer Specialists
Typically, sending funds to or from your Mashreq bank account in UAE dirham to a UK pound, euro or US dollar overseas bank account will involve a margin rate of 2.5% – much higher than most currency broker rates (typically 0.7 to 1.0%).
Currency Transfer Alternatives – Mashreq Bank
Sending foreign currency to or from your Mashreq bank account in the UAE needn’t be a complex matter, moreover, you can save time and money when you use a specialist currency broker instead.
Specialist foreign exchange companies including our recommended providers here can save you money and time on the transaction. Our recommendations are based on international coverage and office locations together with the lowest foreign exchange margin rates offered.
Example: A typical overseas currency transfer of 100,000 UAE dirham (AED) using Mashreq Bank services would have a transaction exchange rate margin of around 2.5% – or 2,500 AED. Using a specialist broker, in this example Currencies Direct – the exchange rate margin would work out at between 0.7 to 1.0% – or only 700 to 1,000 AED in total, which is a large saving over the bank service.
Mashreq Bank – Other Useful Information
International money transfers from Mashreq Bank could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Mashreq Bank account holder to use their services. Mashreq Bank may charge a commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer. Private brokers offer commission free currency transfers, typically over a value of £5000 or 20,000 UAE dirham.
Unless you pay a premium, Mashreq Bank’s service will take from 5 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
Mashreq Bank, UAE – About
Created in 1967, Mashreq bank is the oldest privately owned bank in the United Arab Emirates with 44 local UAE branches and an additional 20 branches and representative offices in the Middle East, Asia, the United Kingdom, Europe and the United States.
Mashreq Bank – Head Office Address
Mashreq Bank PSC – 1 Al Ghurair Centre, Al Riqqa Street, Deira, Dubai, United Arab Emirates
TRANSFER PROMOTIONS
