Get Cashback on Remittance from UAE Exchange
On April 7, 2019, I had written about various money transfer and remittance options from the UAE.
I had discussed the size of remittances from UAE and the pros and cons of each option.
Further, I had mentioned how exchange houses dominate the remittance market in UAE.
Now, UAE Exchange, one of the largest exchange houses, is offering assured vouchers on international transfers.
UAE Exchange Cashback Details
The cashback table is here:
| Total Transfers within offer period | Value of Vouchers |
| >= AED 1,000 (first transaction) | AED 200 |
| >= AED 5,000 and < AED 10,000 | AED 400 |
| >= AED 10,000 and < AED 25,000 | AED 800 |
| >= AED 25,000 and < AED 50,000 | AED 1,000 |
| >= AED 50,000 | AED 1,200 |
Note: The first transfer has to be more than AED 1,000. The website also mentions that for the first voucher of AED 200, the cumulative transfers have to be more than AED 5,000. I am not sure what this means as transferring AED 5,000 or more will entitle you to a total voucher of AED 400.
The other terms and conditions are:
- This offer is only available for online or app-based transfers
- Offer period between April 1, 2019 to April 20, 2019
- Prizes will be sent by May 10, 2019
- Prizes will be sent as Yougotagift voucher(s) to your email address
- Maximum of 8 transfers can be done
- You must use the code “OFFER” while making the transfer
- The transfer amount is exclusive of charges (if any) levied by UAE Exchange
For full terms and conditions, refer to this page.
Yougotagift Voucher Details
You may have noticed that I have used the terms voucher and cashback interchangeably. There is a reason for it. Yougotagift vouchers can be redeemed across a variety of places (online and offline) and have long validity. Therefore, for me (and possibly for you) they are as good as cash.
These are some of the places you can use these vouchers – Noon, Vox Cinemas, Lulu, SharafDG, Mall of the Emirates, Cleartrip, Babyshop etc.
The process is quite simple – you will get a coupon code which you can convert to gift card of your choice.
My Review of UAE Exchange
Exchange rates at UAE Exchange are always very competitive. This is particularly true for transfers to India, Pakistan, Philippines, Bangladesh etc.
For example, at the time of this post, AED to INR transfer can be done at 18.808 which is only 0.2% below mid-market rate.
Similarly, AED to PHP transfer can be done at 14.155 which is again 0.2% below mid-market.
My only wish from UAE Exchange is that the process could be faster. My bank does not support direct debit facility but wire transfer takes less than 10 minutes. Still, I have to wait a day for confirmation from UAE Exchange regarding receipt of funds. Then, it is another day or two for the transfer to be completed.
Bottomline
This is a great offer. The exchange rates offered by UAE Exchange are quite good. Further, you can earn further 2.4-8% back as vouchers.
If you wish to open an account with UAE Exchange, you may use this link. This will give you a voucher of AED 100 for transfers more than AED 1,000.
The offer is back but with much higher thresholds. https://ae.uaeexchange.com/summercoolers_existingcustomers.html
Yes. Hope to see a better offer soon. Did you make use of the last offer?
Sadly, I couldn’t use it last time. I started following your blog only after the offer ended.
I see. If you have not used UAE Exchange before, they have a decent bonus for first timers.
I checked and it’s shows only 100 AED online.
That is correct. AED 100 for a transfer of 1,000 is a sweet deal. Don’t you agree?