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Time of India
2 days ago
- Business
- Time of India
How to send money from UAE without bank account: What expats need to know
AE expats can send up to AED 135,000 abroad without a bank account using low-fee apps like Careem Pay and Botim and more/ Representative Image For millions of UAE expatriates, sending money home is more than a transaction, it's a vital financial link that supports families, strengthens communities, and fuels national economies. Thanks to rapid advancements in financial technology, UAE expats no longer have to rely on traditional banks, which often involve high fees, long processing times, and the need for formal banking setups. Today, a growing number of digital platforms offer simple, fast, and low-cost alternatives, often requiring nothing more than a mobile number and a debit or credit card. Below is a detailed look at the most prominent digital platforms that allow expats in the UAE to transfer money internationally, even without holding a bank account. 1. Botim: From Calls to Global Money Transfers Originally a VoIP calling app, Botim has transformed into a powerful fintech tool. In 2023, it launched the world's first in-chat international money transfer service in the UAE, India, and the Philippines. Key Capabilities: Transfer money to 170+ countries Works through a partnership with Mastercard and regional fintech firms Direct transfers to bank accounts or mobile wallets Fully integrated with a built-in wallet feature for transaction tracking Minimal to zero transfer fees for select corridors Competitive exchange rates Supported countries include India, Pakstan, the Philippines, and Egypt 24/7 service with real-time tracking 2. Careem Pay: Ride-Hailing Meets Money Transfers Careem, best known as a ride-hailing platform, launched Careem Pay with a focus on personal finance. The service now covers domestic and international money transfers, bill payments, and more. In 2022, Careem Pay rolled out its peer-to-peer transfer service, allowing users to send, request, or receive money via: Phone number Personal QR code Personal payment link all without the need for an IBAN or bank account. Transfer Highlights: Send money to 30+ countries Foreign exchange rates are 50% cheaper than banks Transfer limits: Up to Dh45,000($12,253.50) per transaction Up to Dh135,000 ($36,760.50) monthly Supports UAE-issued debit cards Offers instant or same-day delivery in certain corridors Interface includes multilingual support 3. e& money: Telecom Giant's Leap into Fintech Previously known as Etisalat Wallet, e& money is the fintech arm of the Emirates Telecom Group. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Discover Hotel and Restaurant Management Programs in Asia LocalPlan Search Now Undo Now licensed and regulated by the UAE Central Bank, the app offers a wide range of digital financial services. Top Features: International remittances to over 200 countries Send funds directly to bank accounts or mobile wallets Also supports local transfers, bill payments, mobile top-ups, and gifting Offers competitive exchange rates and minimal fees Fully smartphone-based interface 4. Taptap Send: Zero-Fee Transfers for Emerging Markets Newer to the UAE market but popular globally, Taptap Send focuses on enabling fast, affordable transfers to developing nations, particularly in Africa, Asia, and the Caribbean. App Features: Zero transfer fees for countries like: India Ghana Bangladesh Competitive exchange rates Delivery often within minutes Extremely simple user interface Fast registration process 5. LuLu Money: The Digital Face of LuLu Exchange Operated by LuLu Exchange, LuLu Money is a remittance and payment app serving over 170 countries. Key Benefits: Transfer money using cash, prepaid card, or a linked digital wallet Offers real-time exchange rate monitoring Features flexible payout methods Backed by strong regulatory compliance Customers can track transactions easily Includes loyalty points and developer tools for integration 6. Al Ansari Exchange App : The All-in-One 'Super-App' A well-established name in UAE remittances, Al Ansari Exchange has digitized its services into a comprehensive mobile platform. What It Offers: Transfers via: Online bank transfers Credit/debit cards (Visa/Mastercard) Direct debit PayPlus card Cash deposits at branches Features include: Real-time exchange rates Rate-alert notifications 24/7 transfer service Regulated by the Central Bank of the UAE High-level encryption and fraud protection 7. Unimoni App: Transparency and Global Reach Previously known as UAE Exchange, Unimoni is part of Wizz Financial/Finablr, headquartered in Abu Dhabi and operating in over 30 countries. Service Range: International money transfers Foreign exchange Travel and payment services Credit solutions Unique Advantages: Uses live mid-market exchange rates Small markups are built into rates, no flat hidden fees Clear display of fees in UAE dirhams For India transfers: 18% GST on the transfer fee or forex margin 5% TCS (Tax Collected at Source) on annual remittances above Dh30,500, as per Indian tax laws
Khaleej Times
3 days ago
- Business
- Khaleej Times
How UAE expats can transfer money abroad without a bank account, with low fees
Remittances from expats in the UAE and around the world are more than just money transfers to families back home; they are a vital cog of foreign currency inflows. These money flows help support financial stability, boost household incomes, and even contribute to national GDPs. With digital transfers just a tap away, sending money abroad has become faster, easier, and more affordable. Thanks to the rise of digital apps and mobile fintech platforms, expats can now avoid the high fees and lengthy processes of traditional banks. Some apps offer free to minimal fees when sending money from the UAE to other countries. Some require no registration fees, no minimum balance, and no bank account. Customers only need an active UAE mobile number, a debit or credit card with online banking access. Here is the list of apps you can send your money through and how it works: Botim Originally popular among expats as a VoIP calling platform, expat can transfer money transfer across 170+ countries with Botim. In 2023, Botim launched its first fintech service and the world's first in-chat international money transfers in the UAE, India, and the Philippines. Stay up to date with the latest news. Follow KT on WhatsApp Channels. Through its partnership with Mastercard and regional fintech players, Botim now allows users to send money directly to bank accounts or mobile wallets in multiple countries. Botim integrates with its own wallet feature, allowing users to manage and track their transactions. Key features: Competitive exchange rates Minimal to zero fees for select corridors Transfers to countries like India, Pakistan, the Philippines, and Egypt Available 24/7 with real-time tracking Careem Pay Expats can send money to more than 30 countries through Careem pay. From bill payments, to domestic and international transfers, customers can manage most of their financial needs directly through Careem Pay. Careem Pay launched its peer-to-peer money transfer service in 2022, allowing customers to send, request, and receive money using a phone number, personal QR code, or personal payment link without needing an IBAN or account number. And with competitive foreign exchange rates that are 50 per cent cheaper than banks, customers can transfer up to Dh45,000 in a single transaction and up to Dh135,000 monthly. Key features: Low-cost international transfers Instant or same-day delivery in select corridors Integration with UAE-issued debit cards User-friendly interface with multilingual support e& money Formerly known as Etisalat Wallet, e& money is part of the Emirates Telecom Group's foray into fintech. With its digital wallet, users can send money abroad directly from their smartphones with minimal fees and competitive exchange rates. e& money has expanded its financial services by offering international and local transfers, bill payment, top up, gifting, card payments, lending and many more financial services. Key Features: Licensed and regulated by the UAE Central Bank Direct transfers to bank accounts and mobile wallets International remittances to over 200 countries Supports utility payments, in-app purchases, and local transfers too Taptap Send This platform provides fast, low-fee money transfers, particularly for communities sending money to countries in Africa, Asia, and the Caribbean. While newer to the UAE market, it is popular for its zero transfer fees, competitive exchange rates, and quick transfer times. Key features: No transfer fees in many corridors (e.g., to India, Pakistan, Ghana, Bangladesh) Competitive exchange rates Fast delivery, often within minutes Simple interface and quick registration Lulu Money LuLu Money is the digital remittance and payment platform offered by LuLu Exchange. Through the app customers can transfer money to over 170 countries easily and securely. It maintains a safe record of all transactions which you can access with ease. This app allows users to send money using cash, a prepaid card, or a linked digital wallet. Its standout advantages include real-time rate monitoring, flexible payout methods, competitive fees, strong regulatory backing, and added perks like loyalty points and developer-ready remittance solutions. Al Ansari Exchange app Al Ansari Exchange app is a fully digital 'super-app' for remittances, prepaid card management, bill payments, airline tickets, mobile top-ups, and government services. It has multiple payment options such as online bank transfers, credit cards, Visa/ Mastercard debit cards, direct debit, PayPlus card or even cash at the branch to make your experience with us as convenient as possible. Regulated by Central Bank of the UAE, Al Ansari Exchange app sends money 24 hours with real‑time exchange rates and rate-alert notification. The app offers bank-grade encryption, fraud prevention layers, and in‑app secure navigation. Unimoni app Unimoni (formerly UAE Exchange) is a global financial services brand under the Wizz Financial/Finablr umbrella, headquartered in Abu Dhabi. It operates in over 30 countries with a strong presence across the GCC, South Asia, Africa, Australia, Canada and more. It is a global provider of money transfer, foreign exchange, payments, travel services, and credit solutions. It claims to be transparent, with low fees displayed upfront in dirham and no hidden charges or surprises. The app uses live mid-market rates for foreign exchange, with small markups built into rates instead of flat fees. For India transfers, fees include 18 per cent GST on the fee or forex margin, 5 per cent TCS (tax collected at source) for over Dh30,500 remittances yearly under India's regulations.
Arabian Business
22-05-2025
- Business
- Arabian Business
Central Bank of the UAE
The collaboration establishes Botim, powered by PayBy, as the UAE's first fintech platform to enable Jaywan card issuance
Mid East Info
19-05-2025
- Business
- Mid East Info
Astra Tech and 7X Partner to Advance Digital Financial Services and Integrated Trade and Logistics Solutions
* Collaboration advances UAE digital transformation goals through unified finance, logistics, and identity solutions * Agreement leverages FINTX and WAYN to drive financial inclusion, cross-border remittances, and last-mile delivery integration Dubai, UAE – 16th May 2025: Astra Tech, the leading consumer technology holding group behind Botim, has announced a strategic partnership with 7X, the investment holding group in trade, transport, and logistics. The agreement, formalized during the Dubai FinTech Summit (DFS), sets the stage for an integrated digital ecosystem that combines financial services, logistics, and last-mile delivery, advancing the UAE's vision for a connected, inclusive, and innovation-driven economy. The collaboration will enhance access to secure, compliant, and customer-centric services by embedding remittance capabilities, salary processing via both Wages Protection System (WPS) solutions through the innovative Botim Salary Card, and digital payment tools into everyday platforms. It also catalyzes future enhancements, including AI-powered address verification, last-mile delivery integration, and expanded payment acceptance points. Astra Tech's WPS solution, the Botim Salary Card, will be rolled out to FINTX's (the fintech arm of 7X) extensive customer base, marking a significant expansion in salary disbursement capabilities across businesses' clientele through a trusted and compliant delivery network. FINTX plays a central role in this collaboration, reinforcing its mandate as a trusted financial enabler and expanding the reach of UAE-born fintech capabilities across all user segments and geographies. In addition, the agreement also explores new avenues to expand Botim's international remittance services through FINTX's global financial network, connecting users to agent locations worldwide. By embedding this infrastructure into the Botim app, users will be able to send and receive cross-border remittances quickly and securely from within the platform they already use every day. This expansion positions Botim as a comprehensive financial services platform meeting the everyday needs of both domestic and international users. The collaboration also lays the groundwork for a broader range of fintech and logistics innovations. These include wallet top-ups and eKYC services at FINTX's Wall Street Exchange branches, enabling Botim Wallet payments at 7X retail locations, deploying point-of-sale systems to support SME digitization, and improving last-mile delivery logistics. Other areas under exploration include address verification powered by the WAYN platform, UAE's Digital P.O. Box, to support verified deliveries and secure digital identities. WAYN's integration will enable more secure, reliable communication and transactions across Botim's user base, contributing to the national digital infrastructure. It will also explore corporate payment integrations via WASLAH, the comprehensive logistics platform by 7X. Commenting on the signing, Ahmed Mourad, Chief Operating Officer of Astra Tech, said the partnership with 7X represents a major leap forward in Astra Tech's mission to redefine access to digital finance across the region. He noted that embedding financial tools into everyday digital experiences is not only about convenience but about building a sustainable infrastructure for long-term financial empowerment. Tariq Al Wahedi, Acting Group CEO of 7X, said: 'This partnership reflects our unwavering commitment to shaping a future where finance, logistics, and technology converge to serve people better. By joining forces with Astra Tech, we are advancing our shared commitment to supporting national priorities in digital transformation and empowering communities through accessible, integrated, and secure financial and last-mile services. This collaboration is a pivotal milestone in our roadmap to position 7X as a regional force in digital finance and smart trade infrastructure. We will be unlocking new opportunities to simplify how people move money, goods, and services, laying the foundation for a seamless, customer-centric ecosystem that is built for scale, inclusion, and innovation.' As part of 7X's broader digital strategy, FINTX and WAYN serve as critical enablers in this rollout. FINTX ensures that the financial integrations are robust, scalable, and regulatory-compliant, while WAYN strengthens last-mile authentication and secure identity verification for seamless delivery and communication. The partnership will be rolled out in phases, beginning with deployment of Botim Salary Cards to FINTX's WPS customer base, followed by remittance service integrations. Future phases will explore loyalty programs, logistics enhancements, and expanded financial and business services, making this one of the most comprehensive fintech collaborations in the region. This announcement reinforces Astra Tech and 7X's shared commitment to the UAE's national agenda for digital transformation and financial inclusion by making essential financial services accessible through a single, unified digital platform. -END- About Astra Tech Astra Tech is a UAE-based consumer technology investment and development group operating across the MENA region. Established in 2022, the company owns and operates a portfolio of leading digital platforms including Botim, PayBy, and Quantix. With a mission to redefine consumer technology through AI and innovation, Astra Tech developed the Botim Ultra app, the region's first platform to integrate communication, fintech, and services under one roof. PayBy, Astra Tech's fintech subsidiary, is licensed by the Central Bank of the UAE as a Stored Value Facility (SVF) and Retail Payment Services (RPS) provider. Serving over 150 million users in 155 countries, Astra Tech is setting new benchmarks for financial accessibility and consumer empowerment. In 2024, its fintech arm Quantix received the Finance Company License from the UAE Central Bank and secured a $500 million investment from Citi, the largest funding deal for a fintech in UAE history. About 7X 7X, a Public Joint Stock Company under the Emirates Investment Authority. 7X operates as a trade, transport, and logistics investment and holding group, headquartered in Dubai, overseeing and managing its diverse portfolio, including its logistics arm EMX, its fintech arm FINTX, its digital transformation business EDC, and postal services through Emirates Post. 7X supports the UAE's socio-economic development by integrating national goals across logistics, eCommerce, financial inclusion, and digitalization. It is the driving force enabling a world in motion from the 7 emirates to the 7 continents, and across the 7 seas.
Trade Arabia
17-05-2025
- Business
- Trade Arabia
Astra Tech, 7X in deal to advance digital financial services
Astra Tech, the leading consumer technology holding group behind Botim, has announced a strategic partnership with 7X, the investment holding group in trade, transport, and logistics. The agreement, formalized during the Dubai FinTech Summit (DFS), sets the stage for an integrated digital ecosystem that combines financial services, logistics, and last-mile delivery, advancing the UAE's vision for a connected, inclusive, and innovation-driven economy. The collaboration will enhance access to secure, compliant, and customer-centric services by embedding remittance capabilities, salary processing via both Wages Protection System (WPS) solutions through the innovative Botim Salary Card, and digital payment tools into everyday platforms, said the statement from Astra Tech. It also catalyzes future enhancements, including AI-powered address verification, last-mile delivery integration, and expanded payment acceptance points. Astra Tech's WPS solution, the Botim Salary Card, will be rolled out to FINTX's (the fintech arm of 7X) extensive customer base, marking a significant expansion in salary disbursement capabilities across businesses' clientele through a trusted and compliant delivery network. FINTX plays a central role in this collaboration, reinforcing its mandate as a trusted financial enabler and expanding the reach of UAE-born fintech capabilities across all user segments and geographies. In addition, the agreement also explores new avenues to expand Botim's international remittance services through FINTX's global financial network, connecting users to agent locations worldwide. By embedding this infrastructure into the Botim app, users will be able to send and receive cross-border remittances quickly and securely from within the platform they already use every day. This expansion positions Botim as a comprehensive financial services platform meeting the everyday needs of both domestic and international users. The collaboration also lays the groundwork for a broader range of fintech and logistics innovations. These include wallet top-ups and eKYC services at FINTX's Wall Street Exchange branches, enabling Botim Wallet payments at 7X retail locations, deploying point-of-sale systems to support SME digitization, and improving last-mile delivery logistics. Other areas under exploration include address verification powered by the WAYN platform, UAE's Digital P.O. Box, to support verified deliveries and secure digital identities. WAYN's integration will enable more secure, reliable communication and transactions across Botim's user base, contributing to the national digital infrastructure. It will also explore corporate payment integrations via WASLAH, the comprehensive logistics platform by 7X. On the deal, COO Ahmed Mourad said the partnership with 7X represents a major leap forward in Astra Tech's mission to redefine access to digital finance across the region. He noted that embedding financial tools into everyday digital experiences is not only about convenience but about building a sustainable infrastructure for long-term financial empowerment. Tariq Al Wahedi, Acting Group CEO of 7X, said: "This partnership reflects our unwavering commitment to shaping a future where finance, logistics, and technology converge to serve people better. By joining forces with Astra Tech, we are advancing our shared commitment to supporting national priorities in digital transformation and empowering communities through accessible, integrated, and secure financial and last-mile services." "This collaboration is a pivotal milestone in our roadmap to position 7X as a regional force in digital finance and smart trade infrastructure. We will be unlocking new opportunities to simplify how people move money, goods, and services, laying the foundation for a seamless, customer-centric ecosystem that is built for scale, inclusion, and innovation," he added.- TradeArabia News Service
