Emirates NBD, Dubai's largest bank by assets, will start charging fees for international transfers made through its app or online banking platform from September 1.
The bank will charge a fee of Dh26.25 for remittances, including those made through DirectRemit, it said in an email to customers.
DirectRemit is a platform that allows customers to transfer money via online or mobile banking in 60 seconds to countries including India, Pakistan, Sri Lanka, Egypt, the Philippines and the UK.
Emirates NBD will also charge a fee of up to Dh26.25 for recalling and cancelling local and international transfers, it said.
The move by the lender may prompt other banks to introduce fees on remittances and may be a boon for exchange houses that offer lower charges, analysts said.
“Introducing a Dh26.25 fee from September 2025 marks a shift, and as the largest local bank sets the tone, it’s possible others may follow,” Dhruv Tanna, associate vice president at DIFC-based investment and wealth management firm Phillip Capital, told The National.
Some lenders such as RAK Bank already impose a fee for international transfers, charging Dh15.75 for the Philippines and Dh26.25 for India, according to its website. Mashreq bank has zero fees for Pakistan and India, but charges a flat fee of Dh26.25 for the Philippines, according to its website.
Others such as FAB have zero transfer fees for instant transfers to countries including India, Pakistan, Philippines, Sri Lanka, the UK and the EU, according to its website.
International transfers are rarely entirely free as banks recover their costs indirectly, analysts said.
"While some digital channels advertise zero fees, most banks have always made money either through transfer charges or by applying a margin to the exchange rate, or both," said Ben Bolger, founder of Squirrel Education, a company that teaches school children financial independence.
Opportunity for exchange houses
Exchange houses with more competitive fees are likely to benefit as banks impose charges on international transfers.
“For exchange houses, this presents a renewed opportunity to attract price-sensitive customers with lower transfer fees and competitive rates," Mr Tanna said.
"Still, many mid-to high-income customers may continue to choose banks for the convenience, even with a nominal charge."
Mr Bolger said that as banks adjust their terms, consumers could reconsider their options.
"Exchange houses, which tend to offer more competitive rates and transparent pricing, may become increasingly attractive, despite the convenience of transferring money directly through your bank," Mr Bolger said.
Emirates NBD's move to charge fees for remittances may prompt other lenders to follow suit, but it also "opens the door wider" for exchange houses and digital apps offering zero fees and better value, Jay Adrian Tolentino, a UAE-based financial coach, said.
This will particularly benefit expats sending money to their home countries on a regular basis, he added.
Based on World Bank data, remittances to low- and middle-income countries are expected grow by 2.3 per cent in 2024 and 2.8 per cent in 2025, reaching $690 billion in 2025.
Remittances by expatriates in the UAE and wider region to their home countries are a major source of foreign currency inflows for those economies.
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
Rating: 2.5/5
match info
Manchester United 3 (Martial 7', 44', 74')
Sheffield United 0
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Countdown to Zero exhibition will show how disease can be beaten
Countdown to Zero: Defeating Disease, an international multimedia exhibition created by the American Museum of National History in collaboration with The Carter Center, will open in Abu Dhabi a month before Reaching the Last Mile.
Opening on October 15 and running until November 15, the free exhibition opens at The Galleria mall on Al Maryah Island, and has already been seen at the Jimmy Carter Presidential Library and Museum in Atlanta, the American Museum of Natural History in New York, and the London School of Hygiene and Tropical Medicine.
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
MO
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Overall standings
1. Christopher Froome (GBR/Sky) 68hr 18min 36sec,
2. Fabio Aru (ITA/AST) at 0:18.
3. Romain Bardet (FRA/ALM) 0:23.
4. Rigoberto Uran (COL/CAN) 0:29.
5. Mikel Landa (ESP/SKY) 1:17.
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
Results
6.30pm: Maiden Dh165,000 (Dirt) 1,200m
Winner: Barack Beach, Richard Mullen (jockey), Satish Seemar (trainer).
7.05pm: Handicap Dh170,000 (D) 1,200m
Winner: Way Of Wisdom, Connor Beasley, Satish Seemar.
7.40pm: Maiden Dh165,000 (D) 1,900m
Winner: Woodditton, Connor Beasley, Ahmad bin Harmash.
8.15pm: Handicap Dh185,000 (D) 2,000m
Winner: Secret Trade, Sandro Paiva, Ali Rashid Al Raihe.
8.50pm: Handicap Dh185,000 (D) 1,600m
Winner: Mark Of Approval, Antonio Fresu, Mahmood Hussain.
9.25pm: Handicap Dh165,000 (D) 2,000m
Winner: Tradesman, Pat Dobbs, Doug Watson.
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Continental champions
Best Asian Player: Massaki Todokoro (Japan)
Best European Player: Adam Wardzinski (Poland)
Best North & Central American Player: DJ Jackson (United States)
Best African Player: Walter Dos Santos (Angola)
Best Oceanian Player: Lee Ting (Australia)
Best South American Player: Gabriel De Sousa (Brazil)
Best Asian Federation: Saudi Jiu-Jitsu Federation
