Phase 2 · Living and working there

Sending money home without losing on every transfer

Most expats send money home every month. The easy option, a straight transfer from your Gulf bank, is often the most expensive one. Small differences add up over a year.

By Shiraz Hussein · Updated October 2026

Where your money goes

A transfer usually costs you in two ways:

1. The fee. You can see this one.
2. The exchange rate margin. The difference between the real exchange rate and the rate you get. You often can't see this one, and it is often the bigger cost.

So compare the amount that arrives, not the fee.

Your options

• Your Gulf bank: easy, but often a poor exchange rate. Ask for a better rate. Some banks offer one if you ask, or if you transfer regularly.
• Exchange houses: common across the Gulf and often cheaper than banks. They get very busy around salary day.
• Online transfer services: often close to the real exchange rate, with clear fees. Check what limits apply. Wise is one example: it shows the fee and the exchange rate before you send, so you can compare.

Good habits

• Compare before you set up a regular transfer. Check what arrives from two or three options.
• Check the limits your bank or the country may set on transfers.
• Don't try to time the market. A regular transfer on a set day is simpler than waiting for the "right" rate.
• Keep records of every transfer. They help with UK tax questions later.

What this means in your plans

The salary calculator shows your monthly surplus in your home currency. Every percent you lose on transfers comes out of that surplus. Sending money home needs a bank account, and that starts with your salary certificate. Read Your salary certificate, and the debt trap. Saving for university fees? Read UK university fees after the Gulf.

This is general information, not financial advice. Compare providers yourself before you choose.