QIB International Money Transfer

qib international money transfer

When it originally opened its doors in 1982, Qatar Islamic Bank (QIB) was Qatar’s first Islamic financial institution. It has 22 locations, and more than 170 ATMs, and accounts for nearly 40% of all Sharia-compliant banks’ assets nationwide. Capital Intelligence (CI) employees rated the business A+. The corporation received an A rating from Moody’s, an A from Fitch, and an A- from S&P. The second-largest bank in Qatar is Qatar International Bank (QIB). In Qatar, it accounts for somewhat more than 11% of all bank assets in terms of assets, financing, and deposits. Continue reading this blog article till the end to know about QIB International Money Transfer.

How to Use QIB to Send Money to Qatar?

QIB International Money Transfer, to transfer funds to a QIB account, follow these five steps:

  • Register for a RemitBee account. Included is the safe and user-friendly RemitBee Wallet, a digital wallet.
  • You have to add your full name, job title and home address in order to complete your profile. Make sure that you include your current details for a contact number, full name and e-mail address.
  • Now, you’ve to enter the address and contact details of the receiver. The fast code and IBAN of the beneficiary will also be required.
  • If the CAD/QAR exchange rate is favourable in this situation, input the amount you wish to transfer, select a payment method, and then adhere to the on-screen instructions to complete your transaction. The amount for each payment method remains the same, but exchange rates fluctuate constantly.
  • Once the money has been transferred, you will receive an email. You are able to monitor the progress of your money transfer using the RemitBee app.

Also Read: ACH International Money Transfer

Why Send Money to QIB Directly?

Some of the advantages of QIB International Money Transfer are mentioned below. Using RemitBee’s online money transfer service has many advantages. To name a few:

  • You don’t need to spend a lot of time at the bank or in line to send a transfer. You can send money at any time and from any location since time is equivalent to money.
  • The transactions are secure and safe.
  • Once the transfer is complete, the recipient can rapidly access their money.
  • For transfers of $500 (INR 41K) or more, there are no fees.

Must Read: DIB International Transfer

What details are required in order to execute the transfer?

In order to make QIB International Money Transfer, you will require the following details in order to send a transfer using RemitBee:

  • The name as it appears on the bank statement of the recipient.
  • The recipient’s home address and mobile number.
  • QIB’s Swift code is (QISBQAQAXXX).
  • IBAN, short for International Bank Account Number.

International Money Transfers for Employees

Transfer requests can now be made directly through the Employer without standing in line.  

 Employment Perks:

  • Transfers that are secure
  • Affordable Exchange Rates
  • Transfer without having to wait in line
  • Transferring up to 3,000 QAR (INR 67.5K) in money

Steps for International Money Transfers for Employees

Below mentioned are the steps for QIB International Money Transfer for Employees:

  • The ‘International Money Transfer Service for Employees’ form must be filled out by the employer. Excel*
  • The form entitled “International Money Transfer Service for Employees” must be filled out and signed by the employer.
  • The ‘Customer Authorization to QIIB to execute instructions sent by Email/Telephone’ form must be filled out by the employer. Form
  • Put the company stamp on all documents.
  • the employee’s QID should be attached if they want to transfer funds.
  • The QIIB Corporate Branch should receive all of the aforementioned forms electronically at [email protected].  

Things to Remember 

  • Please take note that this request will need to be processed within two (2) working days.
  • There are two formats in which the “International Money Transfer Service for Employees” Excel must be submitted. 
  • Format for Excel: Excel that will be printed, rubber-stamped, and scanned.

Direct Remit Service 

Below mentioned is the direct remit for QIB:

  • The New Direct Remit Service by QIB is what you need if you’re seeking for the quickest and most practical way to send money.
  • You can speed up the beneficiary account’s receipt of their money transactions. The service is accessible 24 hours a day, 7 days a week.
  • With the QIB Mobile App, you can now control and alter your transfer limits at will.
  • A cutting-edge transfer service called Direct Remit enables all QIB Mobile App registered users to instantly send money to the main ex-pat destinations on the spot. Four important corridors are now within the reach of the Direct Remit Service: Jordan India; Pakistan Philippines and there will be more.

Also Read: Tangerine Bank International Money Transfer

FAQs

Q1. What is the Qib daily transfer limit?

Additionally, the daily cap on transfers to accounts outside of QIB through any of the channels has been set at QAR 50,000 (INR 11 lakh); this cap may occasionally be raised or lowered by QIB.

Q2. How do I make a deposit into Qib?

Give your company representative the Deposit only card so he can use our 24/7 deposit machines to deduct your company’s cash and checks without having to go to the branch. Only QIB Cash & Cheque Deposit Machines are compatible with the card.

Q3. Can I use my QIB debit card abroad?

The card can be used at over a billion ATMs, banks, and retail locations globally. It is also accepted domestically and internationally.

We have covered everything about QIB International Money Transfer! Hope you received better insights. Reach out to Fly.Finance for better guidance. For more study abroad needs, you can contact Leverage Edu.  

About Team Leverage Edu

Leave a Comment

ICICI Bank Education Loan to Study Abroad Baroda Yoddha Education Loan to Study Abroad Top 5 Benefits of SBI Zero Balance Account for Students Eligibility Criteria for Aditya Birla Capital Education Loan to Study Abroad Auxilo Education Loan for Wards of Defence Personnel Steps Involved In Canara Bank Education Loan Processing Time IBDI Education Loan Documents Required Checklist Education Loan Interest Rate Comparisons: Banks vs. NBFCs Indian Army Education Loan to Study Abroad: Know It All Here Process and Ways to Obtain Gap Certificate for Education Loan
×

Send Money Abroad in <15 mins

×

Request a callback

×

Get an education loan at the lowest interest rate

×

Thank you! Your call request has been submitted

Our team will connect with your shortly

aero Want to transfer money abroad at the cheapest rates?