If you are among the millions of expatriates working across the Middle East, we get how hard you work to build a better life for yourself and for the family you’ve left behind. Sending money home is how parents cover school fees, relatives pay medical bills, and entire households stay afloat. It’s a big responsibility, and making sure your hard-earned money gets home safely (without losing too much on the way) makes all the difference.

Remittances are a lifeline, and for those of us earning or saving in stronger currencies like USD, EUR, or GBP, choosing the right way to send money can mean saving hundreds, or even thousands, over the course of a year.

What the remittance landscape looks like today

The Middle East, especially the Gulf states like the UAE, Saudi Arabia, Qatar and Kuwait, are some of the top sources of remittances worldwide. In 2024 alone, global remittances are estimated at more than 900 billion US dollars, and a great share of that came from expatriates living in this region.

Also read: How to create a foreign currency account in the Middle East and North Africa

How most expats send money home

If you’re living and working in the Middle East, you probably have already tried a few different ways to send money back home, some more convenient (and cheaper) than others.

• Money exchange houses

You’ll find these everywhere, especially in the UAE and Saudi Arabia. They’re still the go-to for many expats who like dealing in cash or prefer the face-to-face experience. But between the fees and exchange rate markups, they’re not always the best deal, especially if you're converting from USD, EUR, or GBP.

• Mobile remittance apps

Platforms like Grey, Wise, Remitly, Western Union, and WorldRemit are popular with tech-savvy expats. They’re fast, easy to use, and usually more transparent about what you’re actually paying. This option often makes life easier if you’re juggling long hours or living far from an exchange centre.

• Bank transfers

Still common, but rarely the most cost-effective. Transfers can take several days, and banks often charge higher fees and offer less competitive exchange rates. Plus, the process isn’t always as smooth as you’d hope.

• Cash pickup and prepaid cards

Useful when your family doesn’t have access to a bank account or needs the money urgently. But the convenience usually comes at a higher cost, and not every location offers these services reliably.

Breaking down the real cost of remittances

So, how much are you really spending to send money home?

The cost of remittances can quietly add up, especially if you’re sending money regularly. A few extra dollars in fees here and less-than-ideal rates there might not seem like much at first, but over time, it can mean hundreds lost. Let’s break down what the most common options actually cost today:

• Banks are the most expensive, with fees averaging 11–14% per $200. Transfers can also take up to five business days.
• Exchange houses charge around 5–5.5% and generally process transfers faster (often same day), with flat fees on popular corridors.
• Online banking platforms often charge 2.8–4.8% (sometimes lower for first-time users or regular transfers). Speedy, transparent, and often the best value when sending from currencies like USD or EUR.

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Always watch out for hidden costs

It’s easy to get caught up in “zero fee” offers, but always check the real cost of sending money, including the transfer fee and the currency conversion rate (which can vary significantly)

Some platforms quietly take a margin on the exchange rate, so you receive less than expected on the other end.

To get a clearer picture, use tools that let you track current exchange rates and margins in real time. It’s a quick way to see how much of your money actually makes it home.

Having a multi-currency account helps

If you’re earning or saving in USD, EUR, or GBP, using a multi-currency account makes it easier and cheaper to manage your money abroad.

You can:

• Hold your money in a strong currency without converting until you're ready.
• Transfer locally in your currency of choice or convert at more favourable rates when the time is right.

Multi-currency accounts also present smart ways to keep your savings stable while living in countries with different local currencies, especially if you're sending money to multiple family members or accounts in different countries.

You may also like: Best virtual banking solutions for freelancers in the Middle East

Little things that make a big difference

• Skip weekend transfers: Rates are often worse when markets are closed, so if it’s not urgent, wait for a weekday.
• Keep an eye on the rates: If your home currency is weaker, it might be a good time to send more and get better value.
• Use local options when you can: Mobile wallets or local banks (like M-Pesa, UPI, or GCash) can be cheaper and quicker. Grey integrates easily with Mobile Money.
• Have your details ready: Double-check account info and add a clear reason for the transfer. It helps avoid hiccups.
• Stay safe: Stick with trusted services, track your transfer, and never share tracking codes publicly.

What you should know about some countries

In the UAE, most expats now rely on exchange houses or digital apps. Some banks that previously offered free transfers have introduced flat fees in 2025, prompting a shift towards newer digital-first providers like Grey, Remitly, Wise, and WorldRemit.

In Saudi Arabia, Qatar and Kuwait, the remittance landscape is similar, with digital tools growing fast and fees remaining in line with those in the UAE.

In countries like Lebanon, Syria and Yemen, transfers can be more difficult due to extra compliance checks and limits on cash payouts.

Related article: How to open a virtual bank account as a freelancer in the UAE

Money doesn’t have to be the hardest part

Being away from home comes with enough challenges, and sending money back shouldn’t be one of them. You can easily use Grey to hold, send, and convert USD, EUR, or GBP, without chasing down exchange houses or worrying about bank delays.

You get fair rates, low fees, and transfers that actually land when they’re supposed to. Whether it’s rent, school fees, or just a regular “I’ve got you” transfer to family, send money abroad easier.

Open a free Grey account to send, receive, and convert money across borders without the usual stress.

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