To utilize First Abu Dhabi Bank (FAB) for foreign money transfers it is crucial to learn about its charge structure and transfer procedures. International transfer costs at First Abu Dhabi Bank depend on which account type you hold. In this guide, I will provide a comprehensive breakdown of the FAB Bank charges for international transfers and the various ways you can send money globally.
International Transaction Fee
| Account Type | Fee Percentage 1 | Fee Percentage 2 |
|---|---|---|
| Basic Account | 2.5% of the Transaction Amount | 3.15%* of the Transaction Amount |
| Business Advantage | 2.5% of the Transaction Amount | 3.15%* of the Transaction Amount |
| Business Preferred | 2.5% of the Transaction Amount | 3.15%* of the Transaction Amount |
| Merchant Account | 2.5% of the Transaction Amount | 3.15%* of the Transaction Amount |
| Call Account | 2.5% of the Transaction Amount | 3.15%* of the Transaction Amount |
How to Make an International Transfer with FAB Bank
Customers at FAB Bank have access to various options for executing international money transfers. Users can access international money transfers through four available channels: Online banking and branch offices as well as phone banking and business banking services.
1. Online Banking (FAB Online and Mobile App)
FAB Online Banking and the mobile app allow users to send international money transfers according to this procedure. You can also use these in your FAB account balance checking.
Users can access both FAB Online Banking through their account and the mobile application.
● Navigate to the “Transfers” section.
● Choose the international transfer section under “Send Money Abroad” or “International Transfer” from the options.
● Choose the currency and destination country.
● Enter the recipient’s details, including:
○ Name
○ Bank account number
○ SWIFT/BIC code
○ Bank name
● Indicate the monetary value for the funds transfer.
● Review the transfer details and applicable charges.
● Execute the transaction by verifying it through your One-Time Password (OTP)
authentication system or other provided verification methods.
● Save or print the transaction receipt for reference.
2. FAB Branch Visit
International transfers at FAB can be done through its established banking branches by customers who wish to handle banking in person.
Visit your nearest FAB branch.
● Provide the recipient’s details, including:
○ Name
○ Bank account number
○ SWIFT/BIC code
○ Bank name
● Fill out the international transfer form provided by the bank.
● Specify the amount and currency for the transfer.
● The international transfer form requires your valid ID which should be your Emirates ID
or passport for submission at this time.
● Pay the transfer amount and any applicable fees.
● After the transaction executes you will get documentation confirming the funds transfer.
3. Phone Banking
You should call the FAB Phone Banking service for assistance if you cannot use their online or branch banking services.
Call the FAB Phone Banking service at +971 600 5255 (UAE) or the international number for overseas customers.
● Follow the IVR instructions or speak to a customer service representative.
● Follow the system requirements to confirm your account details together with your
identity verification process.
● Share the recipient’s details, including:
○ Name
○ Bank account number
○ SWIFT/BIC code
○ Bank name
● Specify the amount and currency for the transfer.
● End the call by validating the transaction process while noting the reference number that
is provided.
4. FAB Business Banking (For Corporate Accounts)
The international transfer system of FAB Business Banking enables corporate account holders to execute overseas transactions.
Log in to your FAB Business Online Banking account.
● Navigate to the “Payments and Transfers” section.
● Select “International Transfer.”
● Enter the recipient’s details, including:
○ Name
○ Bank account number
○ SWIFT/BIC code
○ Bank name
● Specify the amount and currency.
● Review the transfer details and applicable charges.
● Complete the transfer through your corporate authentication system whether this is a
token or one-time password.
● Save the transaction receipt for your records.
How to Reduce International Transfer Fees
1. Choose the Right FAB Account
● Users who need regular transfer services should select an account package that offers better fee programs.
2. Use Online Banking Instead of Branch Services
● The process of online payments costs less than traditional bank transfers.
3. Transfer Larger Amounts Less Frequently
● You should postpone several smaller payments in favor of making consolidated transfers because they result in reduced fees.
4. Compare Exchange Rates
● You should review FAB’s exchange rates before you transmit funds to achieve maximum value.
Why Choose FAB for International Transfers?
FAB Bank operates as one of the top financial institutions within the UAE by delivering trustworthy international transfer services.The following list explains why FAB Bank should be your choice for global payments:
- Competitive Fees and Exchange Rates – Transparent pricing with no hidden charges.
- Multiple Transfer Methods – Clients can use three transfer methods to send or receive
- money through FAB Bank including the online platform as well as telephone services
- and in-branch transactions.
- Secure Transactions – The financial transactions stay safe through multi-level
- authentication procedures.
- Fast Processing – Funds transfer through FAB finishes within a prompt time which
- allows your recipient to obtain the money in a timely way.
- PPC Card – FAB PPC Card is one of the best cards in the world.
Final Thoughts
Knowledge about FAB Bank’s cross-border transfer costs and procedures enables you to choose financial options wisely. Using the appropriate wire transfer method allows business and personal users to save both time and money in their transactions. Check the appropriate fees and evaluate different options before beginning a money transfer. Repeat foreign money transfers should be optimized as a cost-saving strategy because of recurring international transactions.
