Money Transfer to and from the Middle East

Friday, August 14, 2009

From exchange houses to banks, overseas money transfer services are widely available in the Middle East. To help you choose the right service we have compared charges and rates of the most popular service providers. The following table compares money transfer options such as telegraphic (wire) transfers, foreign currency cheques and bankers (demand) draft. You may find more transfer options in our report covering international money transfer service providers.

note Click here for a comparison of bank transfer charges in the UAE.
Please read our detailed primer on money transfer to learn about hidden charges and poor rates your transfers may incur.


al-Ahli United Bank Bahrain

  • Telegraphic Transfer (TT):
    Outward - BHD 5 (GCC); BHD 7 (Rest of the World)
  • Bankers Draft (BD):
    Outward - BHD 3

TTrank 3
BDrank 2

BIIECo Bahrain

  • Wire Transfer (WT):
    BHD 1 (India)
    BHD 2.5 Cash, BHD 3.000 to Account (GCC countries)
    BHD 6 (US)
  • Western Union (WU): BHD 2.5 (India, Sri Lanka & Bangladesh)
  • Demand Draft (BD): BHD 0.5
  • Door-to-door (DD): BHD 1 (limited to India)

WTrank 4
WUrank 4
BDrank 4
DDrank 4

HSBC Bahrain

  • Telegraphic Transfer (TT):
    Outward to HSBC account - BHD 10 (Branch); BHD 5 (Online)
    Outward to other bank - BHD 12 (Branch); BHD 6 (Online)
    Inward - free (HSBC BHD account); BHD 10 (Other bank)
  • Cashier Order/Demand Draft (BD): COC - BHD 3, DD - BHD 5

TTrank 3
BDrank 2

National Bank of Bahrain Bahrain

  • Telegraphic Transfer (TT):
    Outward - BHD 5 (GCC); BHD 7 (Rest of the World)
    Inward - BHD 3 (Gulf Currency); BHD 5 (Foreign Currency)
  • Bankers Draft (BD):
    Outward - BHD 3
    Inward - BHD 3 (BHD 5 to other bank)

TTrank 3
BDrank 2

Gulf Bank Kuwait

  • Telegraphic Transfer (TT): Transfers through Western Union
  • Bankers Draft (BD):

TTrank 0
BDrank 0

Kuwait Finance House Kuwait

  • Telegraphic Transfer (TT):
  • Bankers Draft (BD):

TTrank 0
BDrank 0

National Commercial Bank (NCB) Saudi Arabia

  • Quick Pay (QP): Transfer fee
  • International Cheque (BD):

QPrank 2
BDrank 0

Arab National Bank (ANB) Saudi Arabia

  • Tele Money (TM): Transfer fee
  • Bankers Draft (BD):

TMrank 2
BDrank 0

Oman International Bank Oman

  • Telegraphic Transfer (TT): Transfer fee
  • Phone Banking (PB): Transfer fee

TTrank 5
PBrank 2

BankMuscat Oman

  • Telegraphic Transfer (TT):
  • Bankers Draft (BD):
  • Speed Transfer - Demand Drafts to India (ST): OR 1.5

TTrank 0
BDrank 0
STrank 4

Commercial Bank Qatar

  • Telegraphic Transfer (TT):
  • Bankers Draft (BD):
  • Branch Transfer (BR): QR 10 (ICICI India, CIB Egypt)

TTrank 0
BDrank 0
BRrank 4

HSBC Qatar

  • Telegraphic Transfer (TT): QR 70 (Branch), QR 52.50 (Online)
  • Bankers Draft (BD): QR 25

TTrank 2
BDrank 3

Qatar National Bank Qatar

  • Telegraphic Transfer (TT):
  • Bankers Draft (BD):

TTrank 0
BDrank 0

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