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Review: UAE Exchange Australia international money transfers

Get competitive exchange rates when you send money overseas or exchange foreign currency with UAE Exchange.

Updated

Fact checked

Quick verdict

Good for
  • Sending to a wide range of destinations
  • Bank transfers and cash pick-ups
  • Competitive exchange rates
  • Travel money
Not so great for
  • Fee transparency

UAE Exchange rates and fees

When you send money overseas with UAE Exchange, there are two costs you'll need to consider: the exchange rate margin (the difference between the mid-market rate you see on Google and the rate quoted to you) and the transaction fee. However, fees vary depending on where you are sending the money and the type of transfer you select.

Available currencies

UAE Exchange allows you to send money to more than 190 countries around the world. The company also offers a foreign exchange service which customers can use to buy and sell foreign currency. Some of the currencies UAE Exchange supports include:

  • GBP British pound sterling
  • CAD Canadian dollar
  • CNY Chinese yuan renminbi
  • EUR Euro
  • FJD Fijian dollar
  • INR Indian rupee
  • IDR Indonesian rupiah
  • JPY Japanese yen
  • NZD New Zealand dollar
  • SGD Singapore dollar
  • THB Thai Baht
  • USD US dollar

What types of transfers can you make with UAE Exchange?

UAE Exchange offers multiple transfer options when you want to send money overseas:

  • Online money transfers. UAE Exchange offers online money transfers through Unimoni. This service allows you to send international bank transfers as well as cash pick-up transfers.
  • Telex transfers. UAE Exchange offers telex transfers so you can send money to bank accounts in countries all around the world.
  • Instant bank transfers. UAE Exchange's FLASHremit service is designed to offer fast transfers to your recipient's bank account. This transfer option is only available for selected countries.
  • Instant cash transfers. UAE Exchange is an authorised agent to provide the services of MoneyGram and Xpress Money, allowing you to send cash pick-up transfers to hundreds of thousands of collection locations around the world.

However, now that UAE Exchange has become Unimoni, Australian customers should check out our Unimoni review to find out about the transfer options available in Australia.
Find out more about buying foreign currency

How long does a transfer with UAE Exchange take?

Transfer times vary depending on the transfer method you select and where you are sending your money.

For example, while cash payout transfers can be available for your recipient within minutes, bank transfers can take two or three business days.

What payment methods does UAE Exchange accept?

Once again, the payment methods available from UAE Exchange are dependent on the type of transfer you want to send. However, please note that not all payment options will be available in all countries.

For example, if sending an online transfer via Unimoni, you can pay via Internet banking transfer, POLi Payments or BPAY.

Is UAE Exchange safe to use?

  • Security and regulation: Australian arm of global brand regulated by ASIC and registered with AUSTRAC
  • Established: 1980
  • Number of customers: 15 million
  • Reviews: Trustpilot gives UAE Exchange a score of 9.4 out of 10, based on over 6,700 reviews*
  • Global presence: 31 countries
*According to UAE Exchange and Trustpilot on 1 February 2019.

Unimoni Pty Ltd (formerly UAE Exchange Australia Pty Ltd) is regulated by the Australian Securities and Investments Commission (ASIC). It is also listed on the Australian Transaction Reports and Analysis Centre's (AUSTRAC) Remittance Sector Register, which businesses must be on if they want to offer remittance services in Australia. Unimoni is part of UAE Exchange Group (UX Holdings Limited), which operates under the laws of Dubai International Financial Centre.

As for the safety of your money when you send an overseas transfer with UAE Exchange, the security measures in place depend on the transfer method you choose. For example, the company claims that the Unimoni website uses the latest 128-bit SSL encryption technology and that personal and transactional data is kept safe and confidential.

How does UAE Exchange make money?

Like many other international money transfer services, UAE Exchange makes money in two ways:

  • By charging transaction fees
  • By adding a margin on top of the mid-market exchange rate

How to register an account

If you want to send an online money transfer with UAE Exchange, you'll need to register for an account with Unimoni.

How do I make an international money transfer with UAE Exchange?

In Australia, UAE Exchange's international transfer service is offered under the Unimoni brand name. Here's what you'll need to do to send a transfer:

  1. Navigate to the Unimoni website and log in to your account.
  2. Select the type of transaction you want to send: bank transfer or cash payout transfer.
  3. Enter your recipient's name, contact details and (if sending a bank transfer) bank account details.
  4. Enter the amount and currency you want to send.
  5. Select your payment method.
  6. Review the exchange rate and fee before clicking "Send".

What is UAE Exchange?

UAE Exchange is a global provider of remittances, foreign exchange and payment services. The UAE Exchange group was founded in 1980 and is headquartered in Abu Dhabi. It operates in more than 30 countries around the world and its services have been used by 15 million customers.

While this review focuses largely on UAE Exchange's international transfers, the company also operates a well-known foreign exchange service for travellers who need overseas currency. UAE Exchange has more than 800 branches around the world where customers can buy and sell all major currencies.

In Australia, UAE Exchange and its online transfer service, Money2Anywhere, rebranded to become Unimoni in 2018.

In a nutshell

Pros
  • Established brand. UAE Exchange was established in 1980 and has a presence in more than 30 countries around the world.
  • Choice of pick-up methods. You have the convenience of sending either a bank transfer or a cash pick-up transfer.
  • Competitive exchange rates. UAE Exchange typically offers better exchange rates than the major banks.
  • Foreign exchange service. UAE Exchange is also a well-known provider of foreign exchange services for international travellers looking to buy and sell major currencies.
Cons
  • Limited fee information. If you want to find out what transaction fee will apply to your transfer, you'll need to sign up for a Unimoni account first.

How does UAE Exchange compare to other providers?

Want to see how UAE Exchange stacks up against the competition? Check out the table below to compare exchange rates, fees and transfer times across a range of leading money transfer services.

Data indicated here is updated regularly
Name Product Description Minimum Order Amount Maximum Order Amount Delivery/Pickup Method Commission Fees
Travelex Foreign Currency
Travelex makes it easy to exchange and get the best rate on over 40 currencies so you can be prepared for your next holiday.
$500
$5,000
In Store or At Airport
$0
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Compare up to 4 providers

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 2,000 1 day AUD 0.00 0.7 USD
6,999
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.7 USD
6,999
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.7 USD
6,999
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.7 USD
6,999
$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.
Go to site Show details
GBP 3,000 1 day AUD 0.00 0.7 USD
6,999
Global Reach will match any competitor's exchange rates. Conditions apply.
Get no fees for both business and personal transfers when you send your money overseas with Global Reach.
Go to site Show details
AUD 1 1 day AUD 52.00 0.699 USD
6,955
Pay no fees on your first two transfers, up to $3,000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Go to site Show details
AUD 0 Same day AUD 2.99 0.695 USD
6,947
Special offers like free transfers and better exchange rates available for new customers.
Affordable transfers around the world with both express and economy options. Express transfers delievered in as little as 10 minutes for an extra fee.
Go to site Show details
AUD 1 Same day AUD 0.00 0.699 USD
6,992
Get fast transfers with no fees and a range of foreign currency tools. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.702 USD
6,985
Exclusive: Use code FINDER10 to receive US$10 off your first transaction.
Quick and simple international money transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies.
Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.696 USD
6,955
Special offer: Zero fees on your first 10 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Same day AUD 3.99 0.694 USD
6,940
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Frequently asked questions

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Important Information*
Logo for TorFX International Money Transfers
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.

Logo for SendFX International Money Transfers
SendFX International Money Transfers

SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.

Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.

Logo for OFX (Ozforex) International Money Transfers
OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.

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