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Here are a few tips to ensure your beneficiaries will get the most of your remittance:

• Send money in bulk, to save on transaction fees. “Try to remit larger chunks of money versus sending small amounts more often. The fee charged by exchange houses is most often per transaction and not limited to the amount,” advised Preeti Bhambri of MoneyCamel.com.

• There are certain days of the week when exchange rates are at their worst, so schedule your remittance accordingly. “Never transfer on weekly offs in either UAE or the receiver’s country. Off days in either country get you the worst exchange rates,” said Bhambri.

• Avoid moving funds at the last minute and do a comparison shop. “Plan ahead and keep some time on hand to compare different exchange houses before you make a transfer. Usually, most malls or localities have three to four exchange houses that you can use at any given point.

• Find out if there are extra charges that will be added later on top of the transaction fee.

• Opt for regular fund transfer. Some providers may offer to speed up the transfer through their “express” service, but this might cost you an additional Dh2.

source: http://gulfnews.com/

Thanks for sharing useful tips on Remittances, i would request you to please include tips related to International Bank Account Number (IBAN), as it is required for all inward and outward remittances to and from UAE those who are using money transfer services offered by reputed banks. I use ADCB's online service for money transfer from Dubai to India as they provide instant credit service.

Remittances are very important these days considering a lot of people work abroad. To save money on remittance just make sure you keep exchange rates in mind and then initiate it. I use ADCB for money transfer service as they provide simple, fast and attractive exchange rates for major currencies. Visit their website 'ADCB.com' for more details.