Page 98 - AAE PR REPORT - January 2025

UAE consumers get zero fixed fees, salary advances

on remittances

UAE remittance operators push for lowest cost to users when sending funds
Last updated: January 30, 2025 | 07:29

Manoj Nair, Business Editor

3 MIN READ

Using cash in sending remittances is becoming less frequent, according to a new Visa study. It has
made the battle for remittance supremacy between digital platforms and legacy currency houses
even more intense.Virendra Saklani/Gulf News

Dubai: The battle for market share in the UAE remittance market is getting more intense as
consumers turn ever more finicky about the cost of spending money to their home country or
anywhere else.

More remittance service providers are offering 0% fees on transfers for extended promotion
periods, even as fintechs are upping their game in getting new customers to sign up with them.

Careem Pay has done just that.

“Sending money abroad through traditional remittance providers can be expensive due to the mix of
high fixed fees per transaction plus transfer rates,” said Mohammad El Saadi, Vice-President of
Careem Pay.

https://gulfnews.com/business/markets/on-remittances-uae-consumers-get-zero-fixed-fees-
salary-advances-even-more-1.500025439