In recent years, Dubai has become a magnet for investors, entrepreneurs, and simply people looking to preserve or grow their capital. People buy real estate, open businesses, and close major deals here. But this also raises a practical question: how to quickly and securely transfer money in Dubai?
Hand-to-hand payment—the personal transfer of cash from hand to hand—has become one of the most popular methods . This method may seem old and archaic, but it actually works perfectly in today’s financial world. Moreover, for many investors and businessmen, it’s perhaps the most reliable and fastest way to transfer large sums.
What is hand-to-hand?
Hand-to-hand is a direct, in-person cash transfer. Instead of using banks or payment systems, the sender and recipient meet in person (or through trusted representatives) and hand over the money directly.
In Dubai, this format is very common, especially among:
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buyers and sellers of real estate;
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entrepreneurs who pay for transactions without banking intermediaries;
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individuals transferring money to relatives or friends;
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investors who need to quickly transfer large sums of money without delays and bureaucracy.
Why is hand-to-hand shopping popular in Dubai?
Dubai is a city where millions of dollars in transactions are concluded daily. Banks here are reliable, but not always fast: transfers can take anywhere from several days to a week, and bureaucracy and inspections often hinder speed.
Hand-to-hand solves these problems:
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Instantaneous. Money is transferred instantly, without waiting.
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No restrictions. It doesn’t matter whether you’re a resident or not, whether you have a bank account or not.
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Convenience. You can arrange a meeting at a convenient time and place.
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Simplicity. No need for long forms, SWIFT codes, or intermediary fees.
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Direct control. You personally observe and monitor the transfer process.
How does hand-to-hand transfer work in Dubai?
To better understand the process, let’s look at what it typically looks like step by step:
1. Agreement on the amount and currency
The sender and recipient agree in advance on the amount to be transferred and the currency to be used: rubles, dollars, euros, or dirhams. Dirhams are typically chosen for real estate and business transactions.
2. Organizing a meeting
The parties agree on a meeting location. This is most often a broker’s office, a business center, a hotel, or any other secure location. Sometimes, the offices of companies specializing in cash exchange are used for such meetings.
3. Identity verification
To avoid any missteps, parties to the transaction can exchange copies of their passports or business cards in advance. This creates an additional level of trust.
4. Cash transfer
At the meeting itself, the money is counted, checked for authenticity (usually using a portable detector), and then handed over to the recipient.
5. Confirmation of the transaction
In some cases, the parties execute a receipt or a simple agreement confirming the transfer. Sometimes, exchanging receipts or photographs of the received banknotes is sufficient.
Advantages of hand-to-hand
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Speed. You transfer the money, and the transaction is immediately completed.
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Accessibility. No need to open a bank account or be a UAE resident.
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Control. You’re personally involved in the process, rather than waiting for the bank to confirm.
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Simplicity. No complicated forms or unnecessary paperwork.
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Flexibility. You can transfer both small amounts (for example, a deposit for an apartment) and larger sums for a business or real estate.
Disadvantages and risks
To complete the picture, it is worth noting the disadvantages of this method:
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A personal meeting is necessary. If you’re in another country, this may be inconvenient.
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The dangers of transferring large sums of money. It’s important to choose reliable meeting locations and work with trusted partners.
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No bank guarantees. Everything is based on trust and supporting documents.
Where is hand-to-hand payment most commonly used in Dubai?
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Purchasing real estate. For example, a deposit or full payment for an apartment.
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Rent payment. Some landlords prefer to accept cash payments.
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Business transactions. Payment for goods, services, or partner projects.
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Transfers between countries. For example, a Russian transfers rubles in Moscow, and their partner receives the equivalent in dirhams in Dubai—at a face-to-face meeting.
A practical example
Alexey, an investor from Moscow, decided to purchase an apartment in Dubai for 1 million dirhams. He chose the hand-to-hand method for making the deposit: he contacted the agent in advance, arranged a meeting at the real estate agency’s office, and handed over the equivalent amount in dirhams to the developer’s representative. The entire process took less than an hour, and the deal was finalized that same day.
Conclusion
Hand-to-hand money transfers in Dubai are a fast, straightforward, and familiar method for many investors, businessmen, and individuals. Although it requires personal involvement and trust, under the right conditions, this method is extremely reliable.
Today, when bank transfers are fraught with bureaucracy and delays, hand-to-hand remains an excellent solution for those who value speed, simplicity, and control over their funds.
