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Mentor
They make money from both the exchange rate spread and transfer fee. WIO has the best FX rate (AED / USD) and has a minimal transfer fee, so WIO wins
Enthusiast
HSBC (aed) > Revolut (aed) and exchange to GBP is still the cheapest way I found to send money home (Dubai to UK)
Enthusiast
Wio definitely do have fees for the exchanges whereas HSBC don’t charge the ‘internal fee’ mentioned, but Wio are still pretty reasonable from memory - but can’t beat free.
Going to sound random but Careem Pay had some exceptional rates I’ve used recently compared to HSBC.
And yes beware the zero transfer fee trap - compare the bid/ask spread to the real spot price to understand the real costs incurred
Enthusiast
Yeah while they’re keeping fee free and good rates Careem are a very good (and fast) option
Careem pay ftw
In my experience ENBD is better at transfers than wio, depends on the country though because they have a list of countries with zero fees whereas wio does have fees.
I currently use wio as my main account but still maintain my old ENBD account just for transfer purposes, otherwise I have nothing there.
BOTIM pay or AlAnsari