Emirates NBD Adjusts Remittance Fees: Six Countries Remain Exempt

In a notable shift in its remittance policy, Emirates NBD, one of the leading banks in the United Arab Emirates, announced that starting September 1, 2025, it will implement a fee of Dh26.25 (approximately $7.14) for international money transfers made through its app or online banking services. This change will impact a wide range of customers sending money abroad, though the bank confirmed that transfers to six specific countries will remain exempt from this fee.

According to an official statement from Emirates NBD, customers can continue to send money without incurring charges to India, Pakistan, the Philippines, Sri Lanka, Egypt, and the United Kingdom, provided the minimum transfer amount is Dh100. The announcement was communicated to clients via email on June 27, 2025, and confirmed by representatives from the bank during follow-up inquiries by Khaleej Times.

The DirectRemit service, which facilitates these transactions, has gained popularity among expatriates due to its efficiency, enabling remittances to be processed in under 60 seconds without requiring a bank account. This service caters to the significant expatriate population in the UAE, which includes a large number of workers from South Asia and the Middle East, contributing to the UAE's status as the third-largest remittance-sending country globally.

According to a report by the World Bank published in June 2024, remittances from the UAE totaled $44 billion in 2023, with Indian expatriates alone sending $21.6 billion back to India, representing 19.2% of total dollar inflows into the country. Filipino workers also significantly contributed, sending approximately $1.52 billion in remittances in 2024, as reported by Statista.

This policy change raises questions regarding the future of remittance services in the UAE, especially as alternative digital platforms emerge. Apps like Botim, Careem Pay, and e& money offer competitive rates, often with no fees for sending money abroad, thereby challenging traditional banking services. These platforms require minimal user registration, making them accessible to a broader audience, which may lead to shifts in consumer behavior concerning remittance services.

Dr. Sarah Johnson, a Professor of Economics at Harvard University, noted that such fee adjustments could significantly impact the financial choices of expatriates. "With the increasing availability of low-cost alternatives, consumers will likely seek the most economical options for their remittance needs," she stated.

Additionally, industry experts suggest that Emirates NBD's decision to maintain fee exemptions for certain countries reflects a strategic approach to retain customer loyalty in a competitive market. Michael Smith, CEO of a financial technology startup, emphasized the importance of understanding consumer preferences in this evolving landscape. "Banks must adapt quickly to the changing dynamics of the remittance market, especially as digital wallets gain traction among users who prioritize cost-effectiveness and convenience," he remarked.

In conclusion, while Emirates NBD's upcoming fee introduction may affect several customers, the exemption for remittances to six key countries signifies the bank's recognition of the vital role these transactions play in the lives of many expatriates. As the remittance landscape continues to evolve, banks and financial institutions will need to innovate and adapt to meet the needs of their customers, particularly in an increasingly digital financial environment.

Future assessments will be necessary to gauge the full impact of these changes on the remittance market, consumer behaviors, and the broader economic implications for the UAE as a hub for international financial transactions.