Perhaps you have made a business deal with someone in Dubai, and you need to send money. There are a few effective ways to transfer money to Dubai. Some use the latest technology while other methods are more traditional. Your choice likely depends on where you live.

The currency in Dubai is the UAE dirham, and it is linked to the U.S. dollar, so as one goes down in value, so does the other. Currently, $1 is equal to 3.674 dirham. Residents of the area can hold a bank account, and there are few restrictions on the amount of money they import or export, unlike many other countries. This makes transferring money there easier than ever before. For a personal transaction, the amount your recipient can receive without explanation is $5000, but if you can prove it is a business transaction, there is no limit.

If you live in or around Afghanistan, one of the more popular ways to send money is through the Shazada Market. Considered the area’s Wall Street, it is where you go if you need to transfer money to Dubai. In fact, though you can send money to about 175 countries through this market, nearly everyone sending money there send it to Dubai. You can show up at the market if you live nearby, or call one of the money changers and give him you and your recipient’s information. Fees change depending on the day and the world market, so be prepared.

If your recipient does not mind, one way to avoid outrageous fees charged by banks or similar companies that send money is to use a prepaid debit card. In this case, you would purchase a debit card, send it to the person you are doing business with, and wait for them to receive it in the mail. You would then call with a PIN, and upload the agreed upon amount to the card.

This usually costs $5 to $8, no matter how much you load to the card. Your recipient could then either use the debit card to purchase items, or take cash out for a small fee. Debit cards are widely accepted in Dubai, though some small stores charge a small fee to use it, and haggling will not work if you take out a debit card. However, presuming your recipient is a resident of Dubai, he or she likely is aware of this. 

Compare the prepaid debit card method with wiring money from your bank to your recipient’s. Most banks charge upwards of $20 to wire hundreds of dollars, including Dubai Bank, Abu Dhabi Commercial Bank, Commercial Bank of Dubai, HSBC, First Gulf Bank, Citibank, National Bank of Abu Dhabi, and more. If you need to transfer money to Dubai and live near Afghanistan, using the Shazada market might work, if you don’t mind varying fees that you don’t know until you call or show up. If you want to be able to budget in advance for your fees, and your recipient in Dubai does not mind using a debit card, a prepaid debit card might be your best bet.

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