DIB International Transfer

DIB International Transfer

With the aid of its 2 million clients, the Dubai Islamic Bank seeks to become the “most forward-thinking Islamic financial institution in the world.” This evaluation is a reference for some of their financial services and foreign payment choices. With express transfer options for India, Pakistan, and Jordan, Dubai Islamic Bank provides international bank transfers to all countries. Overseas Fund Transfer and DIB Express Transfer are the two choices for overseas bank transfers. Learn more about DIB International Transfer through this article. 

About Dubai Islamic Bank

Dubai Islamic Bank was straightened out on 15 September in the year 1975. DIB operates Islamic Banking to intensify and amplify the customer banking experience. Also, Islamic banking recommends an extraordinary exclusive, and religious experience. This clearly signifies that Sharia’s principle guides the bank. 

DIB Pros and Cons

Below mentioned are the pros and cons of DIB:

ProsCons
All customers’ banking needs are served and fulfilled by DIB mobile banking app. This app allows the customer to transfer money, pay bills, make online transactions, and many more. This bank does not give access to references for exchange rates. 
This bank allows you to open an account through an app or website.There are limited options for transferring money. 

Dubai Islamic Bank Exchange Rates and Fees

A review of the Dubai Islamic Bank’s exchange rates and transfer costs is provided in this section. Customers can compare this data to that of other money transfer options: 

Rates of exchange: For the purpose of public transparency, Dubai Islamic Bank does not divulge its exchange rates. According to its website, interested clients should visit their branches to learn more about their real-time currency conversion rates. Only “competitive rates” in “all major currencies” are touted by the bank.

Transfer Charges: Each international transfer “by Telex/SWIFT for DIB customers” carries a charge of 63 AED (UAE Dirham; INR 1,406). It is not specified if this fee applies to transfers made exclusively through branches or ATMs. Through Al Islamic Online Banking, each international transfer would cost 36.75 AED (INR 820.48).

Added Charges: There is no mention of extra costs in the schedule of charges for Dubai Islamic Bank’s international money transfer services.

How Do DIB Transfer Fees Compare to Using a Money Transfer Service?

Online, Dubai Islamic Bank does not make its transfer fees or currency conversion rates available to the general public. However, it gives its clients a choice between DIB Express Transfer (available only to residents of India, Pakistan, and Jordan), and International Fund Transfer. (available worldwide).

Customers can check out XE as an alternate money transfer service. With more than 65 currencies accessible, XE can send money to more than 170 supported countries.

Although XE’s transfer fees are fixed at 2 GBP (British Pounds; 204.38), it is made clear that they may go up or down depending on the sender’s and recipient’s locations, the transfer method, and the total amount transmitted.

How to Transfer Money Using the Dubai Islamic Bank?

This section serves as a how-to manual for using Dubai Islamic Bank to send and receive money. These transactions make use of the bank’s mobile and Internet banking options.

Sending Money

Three primary methods of transmitting money for both domestic and international transactions are provided by Dubai Islamic Bank. The DIB Mobile app allows for local interbank transfers. Customers can use this option to send money to their recipients in the UAE regardless of the bank they use.

International transfers are split into:

(1) International Fund Transfer and 

(2) DIB express Transfer. Money will transfer in real time to recipient accounts

According to DIB Express Transfer. Only Jordan, Pakistan, and India offer this choice.

The majority of nations in the world are covered by the International Fund Transfers, although the Dubai Islamic Bank does not make clear how far it extends on its website. The DIB Mobile, Al Islami Online Banking (available through the DIB website), or any Dubai Islamic Bank office are all viable options for completing either option.

Getting Payouts

The app or online banking can be used for any transaction, including receiving money. Customers can receive and manage their money within their online accounts as long as their account is connected to their login credentials.

Customers in Pakistan can receive money using IBANs and their account numbers. Customers from Pakistan can utilize the bank’s online IBAN generator to send and receive money.

Methods of Sending and Receiving Money Abroad Used By Dubai Islamic Bank

Two main methods are provided by Dubai Islamic Bank for sending money abroad. These are International Fund Transfers and DIB Express Transfers (restricted to Jordan, Pakistan, and India). Regarding the scope and restrictions of its foreign money transfer alternatives, the bank gives no information.

Over 170 nations can receive payments through XE in a variety of currencies. Additionally, it offers transfer rates that start at just 2 GBP. The sum sent could arrive in a day. These factors may lead clients to prefer XE over the Dubai Islamic Bank’s options for overseas transfers.

Customer Support Options

Customer support options available in Dubai Islamic Bank are:

  • The First Option – Through an application form, you can send your inquiry. This option asks for details such as contact number, name, and email address.
  • The Second Option – This option allows you to provide feedback. 
  • The Third Option – In this option, you can contact the specific branch through their contact number.

FAQs

Q1. How to transfer money from Dubai to India?

Ans. Some of the ways to transfer money from Dubai to India are Wise, Western Union, Remitly, WorldRemit, Moneygram, Skrill, and many more. 

Q2. Can I Google Pay from Dubai to India?

Ans. Yes, you can use google pay to send money to the US, India, and Singapore.

Q3. Can I use the Dubai Islamic Bank to send money to India?

Ans. The DIB Express Transfer service has the following features: 24/7 accessibility. 60-second instant transfer to any bank account in Jordan, Pakistan, or India.

That was all about DIB International Transfer! Hope you received better insights. Reach out to Fly.Finance for better guidance. For more study abroad needs, you can contact Leverage Edu.  

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