Mashreq Bank is the first bank to be operated in the UAE. The banking institution was established in 1967 making it the oldest bank in UAE and MENA. Mashreq Bank offers online banking and e-commerce services. International money transfers are also easy with the bank. Customers can transfer money to the UAE or any other country around the world. The Mashreq international transfers can be done through SWIFT transfers/quick remittances. Keep reading to know more about the Mashreq International Money Transfers.
| Mashreq Bank- Awards | Description |
| 2023 Euromoney Trade Finance Survey | For being the UAE market leader |
| Forbes Regions Most Valuable Banks 2023 | For coming under the list of the Top 50 most valuable banks in the MENA region |
| MENA Banking Excellence Awards 2023 | For being the best private bank in UAE |
| Best Organization for Women 2023 | Granted by the Economic Times (India) |
| 2022 Euromoney Cash Management Award | For being the market leader in UAE for 3 consecutive years |
Why choose the Mashreq International Transfer?
Here is a list of reasons a customer can choose the Mashreq International Transfer.
- Transfer money in more than 30 currencies around the world. For example, EUR, CAD, USD, GBP, AUD, NZD, JPY, and SAR.
- Real-time international money transfer tracking using SWIFT gpi
- Fast, safe, and secure international transaction
- Instant and same-day credit using quick remit. Moreover, 24/7 online processing is also available.
- No corresponding bank charges/hidden costs
Mashreq International Transfer: Swift Transfers
The Mashreq Bank allows the transfer of funds worldwide using SWIFT. The international transfer of funds using the system can be accessed using the Mashreq online/mobile services, ATM services, or by visiting the bank branch. Customers can check the prevailing exchange rate while using online banking services. The translation limit depends on the customer segment. Do note that the transactions initiated post-cut-off time and on Fridays can only be processed on the next business day. For high-value transactions preferential and competitive rates are provided.
Also Read: Axis Bank International Transfer
Charges for Outward Transfers
The Mashreq international transfer charges are as follows:
| Type | Mashreq Bank Rate | Correspondent Type Charge |
| Sender (Our) | Borne by Sender | Borne by Sender |
| Shared (SHA) | Borne by Sender | Borne by Sender |
| Receiver (BEN) | Borne by Receiver | Borne by Receiver |
Fees and Charges
The Mashreq Bank international transfer varies on the basis of factors such as the correspondent bank charge, amount, currency, type of charges selected, and the customer class or segment. The charges differ on the basis of the bank, the amount, and the beneficiary country.
Details Required to Receive Money
The Mashreq international transfer requires the customer to submit the following details to receive money using SWIFT
| Branch | All UAE Branches |
| SWIFT Code / BIC | BOMLAEAD |
| Address | Al Ghurair City, 339-C, AGC, Al Riqqa Street, Dubai – UAE |
Mashreq International Transfer: Quick Remit
The Mashreq international transfer can be done using quick remit. Quit remit is a way of transferring funds instantly. Hence, quick remit allows a person to transfer funds quickly to more than 40 countries. Under this, a customer can transfer funds to the home country in their home currency. The Mashreq international services are available online and by using mobile apps.
However, Mashreq international transfer (quick remit) is secure, convenient, and allows 24/7 processing. Although the execution time depends upon several factors such as more information requested by the processing partner, and bank holidays. One major benefit of using quick remit is that the transfers are transparent with no hidden charges.
Also Read- Mizuho Bank International Money Transfer
Mashreq international transfer: Credit Card Remittances
The Mashreq international transfer allows the transfer of money. The Mashreq Card makes the transfer of money easier. Transfer money directly and pay later. Some of the benefits of using Mashreq credit card remittances is that no amount is charged for cash advances. The bank offers competitive exchange rates and high transfer limits.
FAQs
The Mashreq International transfer rate is usually AED 26.25.
The Mashreq Transfer takes just 1 day to complete. Customers can contact the bank if the money is not transferred within 3 working days.
An amount less than INR 2 lakh takes around 60 minutes to be transferred to India.
Mashreq Bank is one of the oldest and best banks in the UAE. The bank offers quick, safe, and secure transfer of funds using the SWIFT, and quick remit. Credit card remittance is also available to users. Mashreq international transfer can be done online or by visiting the branch. International transfers can be done in 40 currencies easily. Hence, it is one of the best baking service providers in Bangladesh, Kuwait, and other countries. To discover more articles like this one, visit the study abroad experts at Leverage Edu.
