TransferWise expands to MENA, launches its cross-border money transfer service in UAE

TransferWise expands to MENA, launches its cross-border money transfer service in UAE

The British company that serves 7 million customers around the world citing an independent study claims that its money transfer service is up to 2 times cheaper than the traditional providers.. The money transfers to India, according to TransferWise's website will take an hour to land in the recipient's bank account.. With over $46 billion (AED 169.2 billion) in personal outward remittances, the United Arab Emirates was the second biggest outward remittance country in 2018, behind the United States only, according to the data by the World Bank.. All the startups are working closely with the migrant workers, expat communities and their employers to continuously improve their service.. TransferWise expands to MENA, launches its cross-border money transfer service in UAE - April 15, 2020.