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Many expats in the UAE, especially domestic workers, freelancers, and blue-collar employees are
excluded from traditional banking services due to salary thresholds, documentation requirements,
or minimum balance rules. This has created a growing demand for bank-free financial solutions
that are simple, affordable, and accessible.

“These workers tend to prefer simple, multilingual, and intuitive apps that remove the complexity of
managing money digitally,” said Syed Muhammad Ali, CEO of myZoi, a UAE-based fintech platform
focused on financial inclusion.

He added that trust and human support are essential. “Services that offer help in multiple
languages are more likely to resonate with this segment.”
Choose regulated apps for security and peace of mind

One of the first things to look for when choosing a remittance app, experts say, is whether the
provider is licensed by the Central Bank of the UAE.

“This ensures transparency and consumer protection,” Ali said. “It’s also important to review the
full cost of the transfer, including any hidden fees. And consider apps that offer digital IBAN wallets,
which act like bank accounts and can also be used to receive salaries and save money.”

MyZoi, for example, offers a “Digital Wallet” tailored for underbanked users, along with a “One-to-
Many” feature that lets users send money to up to five recipients back home for the cost of one
transaction.

Blockchain-powered transfers are growing
Beyond wallets, blockchain-based platforms are also gaining traction among modern expats
looking for faster, more secure money transfers.

“It’s no longer just about sending money home efficiently, but also about making that hard-earned
money work harder,” said Daniel Ahmed, COO and Co-Founder of Fasset, a blockchain-based
financial super-app.
Ahmed explained that blockchain technology enables fast, low-cost, cross-border transfers while
also providing access to digital financial tools aimed at long-term wealth creation.

“Transactions are transparently settled on-chain, reducing manual processes and making money
movement more affordable. We’ve recorded over $1 billion in trading volume in just the first half of
the year, which shows strong demand,” he added.

Are remittance apps really better than banks or exchange houses?
According to UAE-based financial coach Jay Adrian Tolentino, many standalone remittance apps
are just as reliable as traditional exchange houses, sometimes even better.

“I personally use Taptap Send, and before that, Denarii Cash, because they offer better exchange
rates, are faster, and charge zero fees for most transfers to the Philippines,” Tolentino said.

Most apps today offer features once only expected from banks: instant or same-day transfers, real-
time tracking, and responsive customer service. Still, Adrian advises users to compare carefully.

https://gulfnews.com/living-in-uae/banking/how-to-save-on-remittance-fees-in-the-uae-expert-
tips-for-expats-without-bank-accounts-1.500184441