Dubai has long been an important financial and business hub, where tens of thousands of Russians live and work. Some come here for work, others to invest in real estate, and still others to conduct business related to the Emirates. Almost everyone asks: how to send money from Dubai to Russia quickly, safely, and cost-effectively? There are several options, from traditional bank transfers to alternative methods, each with its own pros and cons.
Bank SWIFT transfer
The most obvious way to transfer money from the UAE to Russia is through the banking systеm. Many banks in Dubai offer international SWIFT transfers. The client opens an account, deposits dirhams, and provides the recipient’s Russian bank details.
The advantages of this option inсlude high reliability, transparency, and official transfer records. However, the banking channel has many disadvantages. Firstly, there’s the processing time—transfers can take 2 to 5 business days, sometimes even longer. Secondly, there are fees: they range from 1.5% to 5% of the amount, plus possible hidden fees for currency conversion. Thirdly, there are restrictions. After the introduction of sanctions, not all banks are willing to work with Russian financial institutions, and some transfers may be delayed or even blocked.
Exchange services and the hawala systеm
An alternative to bank transfers is the hawala systеm and cash-to-cash exchange. This is an old but reliable mechanism widely used in the UAE. The concept is simple: the client transfers money in Dubai, and their relatives or partners in Russia receive rubles from the service’s partner.
Hawala’s main advantage is speed. Unlike SWIFT transfers, which require several days to process, funds can be received within hours. Moreover, fees are often lower than bank fees, and the exchange rate is more favorable.
Exchange services offer flexible terms: you can send anything from a small amount for personal use to a larger payment for business or investment. This option has become especially popular for those buying real estate or paying for transactions in Russia with income earned in the Emirates.
Cryptocurrency as an alternative
Cryptocurrency is becoming a third popular option. The crypto industry is actively developing in Dubai, with dozens of official, state-licensed exchanges operating. Clients can buy USDT, BTC, or ETH in Dubai and sell them for rubles in Russia through a crypto exchange or P2P platform.
The main advantage of cryptocurrency transfers is their speed and independence from banks. The transaction can take just a few minutes, and no sanctions or bank checks can prevent it. However, there are also disadvantages. Cryptocurrency prices fluctuate, and exchange fees may vary depending on the service. Furthermore, not all clients are prepared to understand the intricacies of crypto exchanges.
Comparison of fees and speeds
-
SWIFT transfer : 2–5 days, commission from 1.5% to 5%, possible delays.
-
Hawala and cash-to-cash : from 1 to 24 hours, commission 1–3%, flexible rate.
-
Cryptocurrency : from a few minutes to a couple of hours, the commission depends on the platform (usually 0.5–2%).
Therefore, the choice of method depends on the needs. For large official transfers with fixed reporting periods, SWIFT is suitable. For fast and convenient transactions, hawala or exchange services are better. And for those who want complete independence from the banking systеm, cryptocurrency is a good option.
Result
There are several ways to transfer money from Dubai to Russia. A classic SWIFT transfer remains the most official option, but it’s expensive and slow. Hawala and cash-to-cash allow for fast and favorable rates. Cryptocurrency offers freedom and speed, but requires careful consideration. Most Russians in Dubai combine different options depending on their situation to remain flexible and save on fees.
