With so many Irish people working in Dubai, I have noticed many more requests about transferring money from Dubai to Ireland.
In this post, rather than overcomplicate things and give you a million different options, I will outline the cheapest and easiest way of transferring money from Dubai to Ireland.
Some common questions that I have seen include:
What is the simplest way to wire money home to an Irish account?
Transferring money from Dubai to Ireland to save and clear my debt?!
Any tips for transfering money from UAE bank to IE bank
The list goes on.
And OFX is globally based worldwide, which is the best for sending large amounts of money back to Ireland(Typically more than €5k). Why? Because you get a dedicated broker who will beat Transferwise(Wise) or any of the many money transfer companies. Plus, I have an exclusive lower rate than usual if you register with this link or any other OFX links you see in the article.
I will also go into why I use one over the other to ensure you get the best rate by sending your money from Dubai to Ireland.
When sending money to Ireland from anywhere in the world, they are my number one recommended service.
Which money transfer would you recommend to send money from Dubai?
The main difference between Currencyfair and OFX is that I typically send larger transfers with OFX and smaller amounts with Currencyfair. Why? Well, Currencyfair, just like Wise, is excellent but very automated; you send in your money, exchange it(at a VERY low rate), and it arrives in your account.
Now, whenever I do a larger transfer, typically over €5k, I always use OFX. You get a dedicated broker to who you can actually speak and a more competitive rate than just doing an auto transfer. Plus, advice on how the market is doing.
Did I mention that you also get free transfers for life with the broker I use? Register here; you won’t find a better rate.
But don’t just take my word for it, be sure to check with other competitors. At the end of the day, more money in your pocket is the most important thing.
How do I transfer money from Dubai to Ireland?
While each of these money transfer services I mentioned all has similar onboarding, it is pretty much just:
- Sign up and register your details
- Choose how much you want to send
- Transfer in the money
- Once the money arrives, convert it
- Send to your bank account(~typically takes 2-3 business days), although the first transfer can take longer.
It is pretty much the same with OFX, but if it is a large amount of money you are sending, then make sure to speak to the broker first and do your research into what comparable rates are. At the end of the day, the more money you get in your bank account is the most important thing!
But why not use my bank for transferring money from Dubai to Ireland?
- The most important thing when transferring your money is the exchange rate. Banks take an extra 4 – 6% on the exchange rate meaning $100’s of wasted Euro for no benefit.
- Currencyfair takes around 0.25% of the exchange rate. Massive difference!
- The company has exchanged more than €5BN and saved its customers more than €170M.
- The second most important thing to consider is sending and receiving fees.
- These vary depending on what bank you use. Currencyfair uses local bank accounts, meaning you don’t pay more than their transfer fee(€3 only!)
- Currencyfair has local accounts in many jurisdictions, so your transfer to them will cost you the same as any other local transfer.
- Plus, register here, and you will also get your first ten transfers for free exclusively with Irish Around The World.
- For larger transfers of €5k+, I recommend OFX. Register here to get free transfers for life.
- Lastly, it is worth checking with Wise to find the cheapest way to send money from UAE to Ireland. You can get a free transfer with this link.
It may seem daunting to use a new money transfer company, but I promise that once you make your first transfer, you will not regret your decision. And when you send money from UAE, you will be making sure you get the best bang for your buck.
Thanks for reading, and I hope this information has saved you some money! If it has, please comment below and let me know. I really appreciate it!
This article also has some great tips about Dubai.
Other money transfer tips: