Money Transfer
By peter_j_lawrence •
Can anyone tell me if it is better to use a money transfer service (such as UAExchange) rather than a bank when transfering Qarai salary to UK bank account? I have noticed that the pound is really weak against the Qatari Riyal at the moment (but not sure if that is reflected in the exchange rate given at my Qatari bank).
There are lot of Exchange houses in Doha who can transfer to any currency to any bank you want. My experience with Qatar-UAE Exchange is the best. If your amount is good then they can give much better exchange rate compared to any bank.
The charges are around 25 QR per transaction.
Best website to know your current exchange is gocurrency.com.
Best of luck.
From my experience since the past two years...
I used the TT via al fardan exchange...
besides that i used to do TT from QNB internet banking...
I do have some problem, but not with these two but my bank at origin..
fortunately al fardan they have good system..where you can get your money back...
But, always remember to have the copies of the transaction while doing this business ie:track/transaction no/receipt.
I've used to lost a lot of money...since the past two years..because USD is too weak compare to my country currency...
hi there, I use Al Dah Exchange on the c ring road just next to the Al emadi business centre.
they have better rates than any bank, and all u have to pay is 200 riyal as the charge for any amount u transfer and its in your bank in the uk exactly two days. and there are no other charges. the exact amount u transfer is what would be credited to ur uk account.
It depends on the size of the transfer and the type of account you have. For large wire transfers, you may get the better rate from the bank, but for smaller transfers you may find that the exchange house gives you the better deal. You will need to shop around and compare. Make sure you factor in fees--higher fees will effectively give you a much less attractive rate. Even with a premium account at a major bank, the exchange rate will vary greatly depending upon the amount transferred. Sorry there is no clear answer here.
Money transfer from a trusted exchange house is safe and cheaper in terms of both exchange rate and charges. Do a rate comparison before processing any transfer.
Its better to go and compare rates at both your bank and an exchange house. I use UAE Exchange because their rates are competitive and service very good.