Mashreq Bank International Money Transfer

mashreq international transfer

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 SurveyFor being the UAE market leader 
Forbes Regions Most Valuable Banks 2023For coming under the list of the Top 50 most valuable banks in the MENA region
MENA Banking Excellence Awards 2023For being the best private bank in UAE
Best Organization for Women 2023Granted 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

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:

TypeMashreq Bank RateCorrespondent Type Charge
Sender (Our)Borne by SenderBorne by Sender
Shared (SHA)Borne by SenderBorne by Sender
Receiver (BEN)Borne by ReceiverBorne 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.

mashreq international transfer

Details Required to Receive Money

The Mashreq international transfer requires the customer to submit the following details to receive money using SWIFT

BranchAll UAE Branches
SWIFT Code / BICBOMLAEAD
AddressAl 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. 

mashreq international transfer

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

How much does Mashreq Bank charge for international transfers?

The Mashreq International transfer rate is usually AED 26.25.

How long does Mashreq transfer take?

The Mashreq Transfer takes just 1 day to complete. Customers can contact the bank if the money is not transferred within 3 working days.

How long does Mashreq bank transfer take to India?

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.

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