Emirates NBD to charge transfer fee to select nations, not India
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Emirates NBD, Dubai’s largest bank by assets, will implement a new fee structure for specific international money transfers made through its mobile app and online banking platform, starting September 1.
A charge of Dh 26.25 will apply to transfers outside the bank’s existing zero-fee corridors, which include India, Pakistan, Egypt, Sri Lanka, the Philippines and the United Kingdom. Transfers to these destinations will remain free of charge under the bank’s DirectRemit service.
Widely used by Indian expatriates, DirectRemit offers instant digital transfers with a minimum transaction value of Dh 100. The newly introduced fee, inclusive of VAT, will apply only when funds are sent to countries not in the designated fee-free network.
According to reports, Emirates NBD has begun informing impacted customers via email, with an official announcement expected soon.
In a parallel move, the bank is also planning to expand DirectRemit access to over 30 additional countries. While the Dh 26.25 fee will apply to these new destinations, correspondent bank fees will be waived, offering potential cost savings to customers.
International money transfer charges among UAE banks typically range from Dh 20 to Dh 60, depending on the destination and mode of transfer.
The new pricing policy is seen as a step toward standardizing transfer fees while continuing to offer cost-effective options to key remittance markets.