RAKBANK UAE DIRHAM vs GBP/EUR EXCHANGE RATES
Compare Rakbank UAE dirham currency transfer options when sending money or making payments overseas in AED, GBP, EUR and other currencies. You can beat Rakbank exchange rates when making an international money transfer or overseas payment, save time, money and get the best deal.
| Rakbank | AED to GBP | AED to EUR | Minimum Transfer + Fee | TrustScore (Trustpilot) | More Details |
|---|---|---|---|---|---|
| Currencies Direct | £0.204 to £0.204 | €0.237 to €0.238 |  |  | |
| TorFX | £0.204 | €0.238 |  | | |
| Wise | £0.204 | €0.237 |  | | |
| Rakbank | £0.201 | €0.234 | |  |  |
Rakbank exchange rate calculator: AED/GBP ¤ AED/EUR ¤ AED/USD
Rakbank International Money Transfers
International currency transfers to or from your Rakbank account in UAE dirham, UK pounds, euro, US dollars and many other popular currencies will involve a margin or exchange rate of around 2.3% and additional bank transaction or commission fees may apply.
Rakbank international currency transfer rates are much higher than most money transfer providers (money transfer providers rates range between 0.45 to 1.0%).
Currency Transfer Alternatives – Rakbank
Sending foreign currency to or from your Rakbank 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 Rakbank services would have a transaction exchange rate margin of around 2.3% – or 2,300 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.
Rakbank – Other Useful Information
International money transfers from Rakbank could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Rakbank account holder to use their services. Rakbank 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, Rakbank’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.
Rakbank, UAE – About
Rakbank (also known as the National Bank of Ras Al-Khaimah) is a leading retail and small to medium business bank in the UAE, serving over 700,000 customers. Founded in 1976, Rakbank is one of the Arab Emirates oldest local financial institutions and provides conventional and Islamic retail, small business, and commercial banking services through a network of 38 banking branches in the UAE.
Rakbank branch finder
Find Rakbank branch addresses near you with our geolocation map search. Simply enter the bank name (and optionally a city or country) and the map will display the closest Rakbank branches in your search area results.
Contact Rakbank from abroad
You can find answers to everyday banking questions at Rakbank online. If you can’t find the answer you’re looking for, you can call them from outside the United Arab Emirates on +971 4 213 0000
Rakbank – Head office address
National Bank of Ras Al-Khaimah PSC – RAK Operations Centre, Emirates Road, Ras Al Khaimah, United Arab Emirates
Still have questions?
Doing some research and evaluating options will ultimately save you time and money: Compare money transfer providers
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