Every month, thousands of UAE companies send money abroad to pay suppliers, freelancers, and vendors. Yet most don’t realise how much they lose to hidden cross-border transfer fees and exchange-rate mark-ups.
If your business makes regular account-to-account payments overseas, this guide explains how those charges work, and how to lower them using modern, transparent fintech providers.
What actually happens when you send money abroad
When you make a payment from your UAE business account to a supplier in another country, the funds rarely travel directly. They pass through several intermediary banks, each taking a small cut. Your own bank adds a transfer fee, and if there’s currency conversion, a foreign-exchange (FX) mark-up applies too.
Even when the stated fee looks low, the total cost can reach 1–3 % of the amount sent.
The main types of cross-border fees
- 💸 Transfer fees: Flat AED 50–150 per payment.
- 💱 FX mark-ups: Usually 0.5–2 % above the true market rate.
- 🏦 Intermediary bank fees: Deductions as money passes through correspondent banks.
- ⏳ Receiving bank fees: Charges at your supplier’s bank when they receive the funds.
Faster, smarter alternatives to traditional banks
Modern fintech payment companies have simplified this process. Instead of multiple correspondent banks, they use local payment rails in each country — cutting costs and speeding up transfers.
With these providers you can get:
- Transparent, upfront pricing
- Same-day or next-day settlements
- Virtual multi-currency accounts to hold USD, EUR, GBP, and more
- Automated bulk payouts and reconciliation tools
How to reduce your cross-border costs
- Compare providers – Fintech specialists often beat banks on FX and speed.
- Pay in local currency – Avoid double conversions.
- Batch payments – Some platforms offer lower fees for bulk transfers.
- Ask about local rails – Domestic-style transfers mean no “cross-border” tag.
- Check the FX rate – Ensure it’s close to the real mid-market rate.
Why comparison matters
Every provider differs in rates, currencies, and settlement speeds. Some excel in Asia corridors, others in Europe or Africa.
That’s why PaySelect helps UAE businesses compare trusted cross-border payment providers side-by-side — so you can pick the best partner for your volume, destination, and currency needs.
The takeaway
Cross-border B2B payments don’t have to be expensive or complicated.
With the right provider, you can:
✅ Cut FX and transfer fees
✅ Receive faster settlements
✅ Improve cash-flow visibility
👉 Compare leading cross-border B2B payment providers today at www.payselect.ae
Empowering businesses to achieve greater growth
