Latest news with #DirectRemit
Filipino Times
03-07-2025
- Business
- Filipino Times
DMW thanks Emirates NBD, UAE gov't for continued zero-fee remittances to the Philippines
The Department of Migrant Workers (DMW) has expressed gratitude to the United Arab Emirates government and Emirates NBD after the bank confirmed that money transfers to the Philippines will continue to be free of charge under its DirectRemit service. Starting September 1, 2025, Emirates NBD will begin charging a nominal fee of up to AED 26.25 (inclusive of VAT) on most cross-border transfers to over 30 new countries, as part of its expanded DirectRemit offerings. However, transfers to the Philippines, as well as to India, Pakistan, Egypt, Sri Lanka, and the United Kingdom, will remain free for all Emirates NBD customers. Migrant Workers Secretary Hans Leo Cacdac thanked both Emirates NBD and the UAE government for ensuring that OFWs in the country can continue to send money home without additional costs. 'We likewise express our sincere gratitude to the UAE Government and the Ministry of Human Resources and Emiratisation for fostering a supportive environment for migrant communities. Their cooperation ensures that OFWs can continue sending financial support to their loved ones without additional costs,' said Cacdac. Data from the Philippine Statistics Authority show that around 700,000 Filipinos lived in the United Arab Emirates as of 2023, with approximately 600,000 working as overseas Filipino workers. The Philippines remains one of the world's top recipients of remittances, which serve as a key source of income for millions of Filipino families.
Filipino Times
03-07-2025
- Business
- Filipino Times
DMW thanks UAE government for exempting Filipinos from new remittance fees
The Department of Migrant Workers (DMW) has expressed gratitude to the United Arab Emirates government after Filipino workers were exempted from a new fee imposed on international remittances by one of the country's largest banks. Starting September 1, 2025, Emirates National Bank of Dubai (NBD) will implement a fee of AED 26.25, inclusive of VAT, on most cross-border money transfers made through its DirectRemit service. The Philippines is among six countries excluded from this charge, along with India, Pakistan, Egypt, Sri Lanka, and the United Kingdom. Migrant Workers Secretary Hans Leo Cacdac thanked both Emirates NBD and the UAE government for ensuring that OFWs in the country can continue to send money home without additional costs. 'We likewise express our sincere gratitude to the UAE Government and the Ministry of Human Resources and Emiratisation for fostering a supportive environment for migrant communities. Their cooperation ensures that OFWs can continue sending financial support to their loved ones without additional costs,' said Cacdac. Data from the Philippine Statistics Authority show that around 700,000 Filipinos lived in the United Arab Emirates as of 2023, with approximately 600,000 working as overseas Filipino workers. The Philippines remains one of the world's top recipients of remittances, which serve as a key source of income for millions of Filipino families.
India Gazette
30-06-2025
- Business
- India Gazette
India not affected by the new fee for DirectRemit to key countries by Emirates NBD
ANI 30 Jun 2025, 13:16 GMT+10 New Delhi [India], June 30 (ANI): Emirates NBD has clarified that its DirectRemit service will continue to offer free international transfers to major remittance destinations such as India, Pakistan, Egypt, and the Philippines, as reported by the Gulf News. Emirates NBD Bank PJSC is Dubai's government-owned bank and is one of the largest banking groups in the Middle East in terms of assets. The company has its operations in the UAE, Egypt, India, Turkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and clarification comes after confusions were caused by a prior bank notice suggesting that all international transfers, including those via DirectRemit, would be charged a Dh26.25 fee starting September 1, response to concerns and media reports, the bank said in a statement that, 'To clarify: Emirates NBD will not be charging Dh26 for remittances to key corridors such as India, Pakistan, Egypt, and the Philippines. These corridors will remain free of charge for our customers. The Dh26 fee applies only to non-core corridors, in line with Central Bank regulations.'The Dh26.25 fee (including VAT) applies only to countries not listed in ENBD's main zero-fee remittance list. This fee applies when transfers are made via the bank's online, mobile, or ENBD X platforms.'International wire transfers through UAE banks often carry fees ranging from Dh20 to Dh60, depending on the destination and platform used. However, Emirates NBD's DirectRemit service to selected countries has long been promoted as a zero-fee offering, and that remains unchanged for the major corridors mentioned,' the Gulf News reported. Customers are advised to review the list of eligible corridors in their ENBD app or platform to confirm whether their intended destination qualifies for zero-fee transfers. (ANI)
Fintech News ME
30-06-2025
- Business
- Fintech News ME
Emirates NBD to Maintain Free DirectRemit Transfers to Six Countries Amid New Fee Structure
Emirates NBD has confirmed that its DirectRemit money transfer service will remain free of charge for transfers to six key countries, despite the introduction of a new international transfer fee from 1 September 2025. This clarification follows a recent communication to customers stating that a fee of AED 26.25 (inclusive of VAT) would be applied to international transfers made via the bank's app or online banking. However, in a statement to Khaleej Times, a spokesperson for the bank assured that DirectRemit transfers to India, Pakistan, Egypt, Sri Lanka, the Philippines, and the UK will continue to be free for all Emirates NBD customers, provided a minimum transfer amount of AED 100. 'Emirates NBD remains committed to providing seamless and cost-effective banking solutions for our valued customers,' the spokesperson said. 'As part of this commitment, DirectRemit transfers to India, Pakistan, Egypt, Sri Lanka, the Philippines, and the UK will continue to be offered free of charge.' The bank also announced plans to expand its DirectRemit service to over 30 additional countries. For these new corridors, as well as all other international transfers, customers will be subject to a nominal transfer fee of up to AED 26.25 (inclusive of VAT). Notably, customers will no longer incur correspondent bank charges. Emirates NBD Private Banking, Priority Banking, and Personal Banking Beyond clients will continue to benefit from free DirectRemit and international transfers. DirectRemit is a digital remittance service that enables Emirates NBD customers to send money to select countries, including India, Pakistan, the Philippines, Egypt, Sri Lanka, and the UK, in under 60 seconds via online or mobile banking.
Time of India
29-06-2025
- Business
- Time of India
Good news for expats: No Dh26.25 fee for sending money to India, UK, 4 other countries, Emirates NBD clarifies
Emirates NBD confirmed that its DirectRemit transfers to India, UK, Philippines, Pakistan, Egypt, and Sri Lanka will remain free of charge despite the upcoming Dh26.25 fee for other countries/ (Image composite: Emirates NBD) Emirates NBD has addressed recent customer concerns regarding international money transfer fees, assuring that its popular DirectRemit service will continue to offer free transfers to six major remittance destinations, including India, Pakistan, Egypt, Sri Lanka, the Philippines, and the UK. Fee Clarification and Affected Corridors Following an email notification sent to customers on Friday, which stated that from September 1, 2025, a transfer fee of Dh26.25 (inclusive of VAT) would apply to all international transfers via the bank's digital platforms, many customers expressed worry about the end of zero-fee remittances. In a clarification statement sent in response to media reports, the bank said: 'To clarify: Emirates NBD will not be charging Dh26 for remittances to key corridors such as India, Pakistan, Egypt, and the Philippines. These corridors will remain free of charge for our customers. The Dh26 fee applies only to non-core corridors, in line with Central Bank regulations.' Further emphasizing the commitment to its customers, the spokesperson said: 'Emirates NBD remains committed to offering seamless and cost-effective banking solutions for our valued customers. As part of this commitment, Emirates NBD DirectRemit Transfers to India, Pakistan, Egypt, Sri Lanka, the Philippines, and the UK will continue to be offered free of charge to all Emirates NBD customers.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy the Dip: Top 5 Dividend Stocks with Growth Potential Seeking Alpha Read Now Undo Details of the New Transfer Fees and Service Expansion The Dh26.25 fee will only apply to international transfers sent to countries outside the bank's designated zero-fee corridors, and only when transfers are initiated via online, mobile banking, or the ENBD X digital channels. Transfers within the six core countries will continue to have no charge, provided the transfer amount meets the minimum threshold of Dh100. The bank is also expanding its DirectRemit service to over 30 additional countries, allowing customers to benefit from near real-time transfers. The spokesperson added: 'Customers will no longer be charged any correspondent bank fees and will just be charged a nominal transfer fee of up to Dh26.25 (inclusive of VAT). All other international transfers will also incur a nominal fee of up to Dh26.25. These charges will be effective from September 1, 2025.' Additionally, Emirates NBD's Private Banking, Priority Banking, and Personal Banking Beyond customers will continue to enjoy free DirectRemit and international transfers as usual. How DirectRemit Works and Alternative Options DirectRemit is a digital money transfer service enabling Emirates NBD customers to send money quickly, within 60 seconds, to India, the Philippines, Pakistan, Sri Lanka, Egypt, and the UK. This ease and speed have made it a preferred choice for many expatriates in the UAE. O utside of Emirates NBD, there are other apps such as Botim, Careem Pay, e& money, and Taptap Send, which offer free or minimal fees for money transfers from the UAE. Some of these apps require no registration fees, no minimum balance, and no bank account—only an active UAE mobile number, a debit or credit card, or online banking access. These apps not only facilitate global and local money transfers but also support bill payments, merchant payments, and transfers directly to mobile wallets. UAE's Significant Role in Global Remittances The UAE ranks as the third-largest sender of remittances worldwide, after the US and Saudi Arabia. Last year, Indian expatriates sent $21.6 billion to India from the UAE, representing 19.2% of the country's total dollar inflows, making the UAE the second-largest source of global remittance to India after the US. Filipino workers in the UAE remitted approximately $1.52 billion in 2024, contributing to the Philippines' record $38.34 billion in total overseas remittances for that year, as reported by Statista and the Bangko Sentral ng Pilipinas (Philippine Central Bank). Major sources of these remittances include the US, Saudi Arabia, Singapore, and the UAE. What Customers Should Do Next Emirates NBD is preparing to send electronic direct mails (EDMs) to customers affected by the fee changes and plans to release a formal press statement to further clarify the details. Customers are encouraged to check the list of eligible zero-fee corridors on their Emirates NBD app or online platform before initiating transfers to confirm whether their intended destination qualifies for free remittance.
