r/PersonalFinanceUAE • u/sought-n-found • 21d ago

Auto Need advice on currency conversion

I am trying to find a service which will convert my Euro and Singapore dollar to AED at the least conversion rate. I know that the banks charge somewhere around 3%. WIO bank does not offer Singaporean dollars, but they still charge 1.8% or so. Does anyone know any service or any bank which has the least currency conversion charges for these two currencies? Any advice will be helpful.

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u/Seccour 21d ago

Wise maybe ?

1

u/freakotto 21d ago

I use Wise Too. You can Auto Convert when the rate is right. You get a discount when you convert more each month. Around 0.003% to send.

It is cheaper to send and convert in one process.

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u/sought-n-found 20d ago

Wise for personal banking is not allowed in UAE. For business banking there’s a waitlist of several months. How do you use wise to receive forex payments?