Mashreq Bank
Info CheckedCurrency Exchange & Money Transfer
Various, Dubai
About
Mashreq Bank is one of the UAE's oldest and most established private banks, offering comprehensive foreign exchange services alongside its full suite of banking products. Founded in 1967, Mashreq has built a reputation for innovation in the regional banking sector, including its digital banking platform Mashreq Neo. The bank's FX services cater to both personal and corporate clients, with competitive rates available through branches, online banking, and the Mashreq app.
Key Services
Mashreq Bank's FX services include foreign currency exchange at branches, international wire transfers through SWIFT, forward contracts for hedging currency risk, and multi-currency accounts. The bank's online and mobile platforms allow customers to execute FX transactions and international transfers without visiting a branch. For property buyers, Mashreq offers integrated FX and mortgage services — customers can convert foreign currency and apply for a mortgage through the same relationship manager, streamlining the property purchase process. The bank also provides treasury services for corporate clients with complex FX needs.
Why Choose Mashreq Bank
Mashreq Bank's advantage for property buyers is the integration of FX services with mortgage lending. Customers converting foreign currency for a property purchase can benefit from preferential exchange rates when taking a Mashreq mortgage, and the bank's relationship managers can coordinate both the currency conversion and mortgage approval simultaneously. Mashreq Neo, the bank's digital platform, provides 24/7 access to FX rates and transfer capabilities, while the extensive branch network ensures in-person service is always available for high-value transactions.
Services Offered
Key services Mashreq Bank provides for currency exchange & money transfer clients in Dubai:
Why Choose Mashreq Bank
- One of the UAE's oldest privately owned banks, established in 1967
- Regulated by the Central Bank of the UAE and listed on the Dubai Financial Market
- QuickRemit sends to 35+ global destinations with instant or same-day credit
- SWIFT transfers in 30+ currencies with exchange rates updated every 30 minutes
- Digital-first via Mashreq NEO and NEO BIZ mobile and online banking
- International presence across markets including New York, London, Hong Kong and Mumbai
How Mashreq Bank Works
-
1
Open / hold a Mashreq account
Banking, transfer and FX services require a Mashreq personal, business or private banking relationship.
-
2
Log in to Mashreq Mobile or Online
Access transfers through the Mashreq NEO app or online banking under the Money Transfer section.
-
3
Add a beneficiary
Add the recipient or beneficiary bank account; QuickRemit covers home-country transfers, International Money Transfer covers cross-currency.
-
4
Confirm currency, rate and fee
Review the applicable exchange rate and flat per-transaction fee before submitting.
-
5
Submit and track
Transfers process instantly or same/next business day depending on destination and channel.
Business Profile
Hours and pricing may change — confirm directly with the business before engaging.
Licenses & Certifications
Licenses and certifications are subject to renewal. Verify current status with the issuing authority before engagement.
Frequently Asked Questions
Can I transfer money from abroad to buy property in Dubai?
A property purchase is typically funded by transferring money into a Dubai bank, developer or escrow account. As a UAE bank, Mashreq facilitates both outbound international transfers and inbound credits to accounts held with it; large incoming payments are subject to standard bank compliance and source-of-funds checks.
What is QuickRemit?
QuickRemit is Mashreq's instant international money transfer service, available to over 35 global destinations with instant or same-day credit and a flat per-transaction fee. It is initiated through Mashreq Mobile or Online banking.
How do I send money in a currency other than my home currency?
QuickRemit handles home-country transfers in home currency. For cross-currency transfers, Mashreq directs customers to the International Money Transfer (SWIFT) option, which supports 30+ currencies.
Is Mashreq regulated?
Yes. Mashreq is a bank licensed and regulated by the Central Bank of the UAE (CBUAE) and is listed on the Dubai Financial Market (DFM).
Is Mashreq an exchange house?
No. Mashreq is a full-service bank, not an exchange house. Its foreign exchange and international transfer services are part of its banking offering, accessed by account holders.
What exchange rate do I get on an international transfer?
Rates are not fixed; for SWIFT transfers Mashreq states exchange rates are updated approximately every 30 minutes. The applicable rate and fee are shown before you confirm a transfer.
How quickly do transfers arrive?
QuickRemit transfers can be instant, with same-day or next-business-day credit depending on the destination country and whether it supports 24/7 processing.
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