I've recently relocated to UAE and paid my salary here. I would like to know the best method to transfer money regularly to my bank account in Gambia. Does anyone have any experience or advise on methods to avoid?
I have costed out Western Union but this is way too expensive.
The simplest methods of transfer from account to account don't always give the best bank exchange rate. The Gambian Dalasi is not a recognised international trade currency and banks will only move funds in $'s or £'s to Gambia, this way I have to change from AED (the Dirham used in Dubai) to £'s then back to Dalasi, if not careful you can lose out by changing the currency to many times. Also a lot of the UAE banks don't work with the Gambian banks. The only one I found was the Standard Charter but you need to hold an account with a £3000 minimum in your UAE account at all times!!
The simplest methods of transfer from account to account don't always give the best bank exchange rate. The Gambian Dalasi is not a recognised international trade currency and banks will only move funds in $'s or £'s to Gambia, this way I have to change from AED (the Dirham used in Dubai) to £'s then back to Dalasi, if not careful you can lose out by changing the currency to many times. Also a lot of the UAE banks don't work with the Gambian banks. The only one I found was the Standard Charter but you need to hold an account with a £3000 minimum in your UAE account at all times!!
Hi Denise, I wasn't sure of the system there, I transfer here by SO and yes the rate vary's so much. Ive just received a new visa that doesn't charge to use it abroad or conversion fees this might be an option you could withdraw from the ATM and deposit there, only problem with that is it wouldn't be regular transfers. I think your only options might be to weigh up the western union /moneygram fees to the bank transfers sorry got no other suggestions hopefully someone else might step in.
Topic Locked
Posted - 06 Sep 2008 : 21:09:43
hopefully someone else might step in.