List of Forex Exchange Companies in UAE

Forex Exchange Companies in UAE

Exchange companies are an integral part of UAE Economy. Most of us being expatriates here, money exchange companies play a vital role in transferring remittances from UAE to the destination countries. In the UAE there are more than 130 registered money exchange companies as per UAE Central Bank. Billions of amount of currencies are remitted from UAE to other countries and Exchange houses play very important role in this.

Besides handling money exchange/foreign exchange transactions, the exchange companies in UAE also handle payments such as Credit Card payments, Utility Bill payment, WPS Processing, Etisalat/Du payments and many other related payments.

Exchange companies also are employment generators. There are regular requirements for Cashiers/Tellers, Officers to handle front office, Treasury handling officers and many other roles. It is a good opportunity for job seekers to apply directly at the exchange companies for vacancies available. 

The reason for this post is to cover the list of money exchange companies in UAE.

Below is the list of UAE Exchange Companies/ Forex Exchange companies

How to get best exchange rates at Forex Exchange Companies?

• The amount of forex exchange rates depend on how large the amount is. Larger the better! Therefore, if you have a large amount to send, you are at an advantage.
• Call up the call centre or the helpline of your favorite exchange companies to enquire about the rates. The rates displayed on the main board may not have been updated. It makes ‘money sense’ to always enquire at more than 4-5 exchange companies before making your decision.
• Don’t go to the exchange houses when they are crowded. Go at an odd time when you can discuss with the agent on what are the best the best rates. 
• Always bargain and ask for the best rate. The general public rates are for normal walk-in customer. If you keep quiet the agent may assume that you are happy with the board rates. It does not take much skill to ask for best rates. The officers at the front desk of the exchange companies do have some prerogative to provide you a better rate than that is displayed on the board.
• Be friendly and make good friends at the Exchange companies. This is no brainer! 
• Be consistent in sending your money and enrol for any membership that may be available at the exchange house you prefer.

Hope these strategies will help you get the best exchange rates for your hard earned money.

Do you have a trick that has helped you in the past to get the best rates? Share it with other readers!