ACE Money Transfer
ACE Money Transfer
23 Oct 2026
If you live or work in the UAE, chances are you regularly send money abroad. Whether it's a monthly salary remittance to family in India, tuition fees for a sibling studying in the UK, or a property payment routed through Hong Kong, international money transfer is a routine part of life for millions of UAE residents and expats.
Mashreq Bank offers international money transfers via SWIFT and Quick Remit, giving customers two distinct channels depending on how fast they need funds to arrive and where they're sending them. You can initiate transfers through the Mashreq Mobile app, Mashreq Online banking, or by visiting a branch in person. QuickRemit and SWIFT transfers may differ in supported destinations, currencies, processing times, and fees. Check the relevant provider’s current terms for details. Mashreq's international transfer services are particularly suitable for UAE customers who need reliable, regulated pathways to move money overseas.
Common use cases include salary remittances, family support, medical or emergency expenses, education payments, and international business obligations. But Mashreq isn't the only option. Many customers now compare bank-based transfers with specialised online remittance providers like ACE Money Transfer, which can offer different fee structures, payout methods, and delivery speeds depending on the corridor.
In this guide, we’ll explain how to send money internationally with Mashreq, including required documents, fees, exchange rates, transfer limits, and cutoff times. We’ll also cover ACE Money Transfer as an alternative channel. Exchange rates fluctuate, and the rate you receive may differ from any rates quoted. Always check the live rate at acemoneytransfer.com before sending. By the end, you'll have the information you need to choose the right method for your next transfer.
Mashreq supports international money transfer through Mashreq Mobile, Mashreq Online, and at UAE branches. Users can initiate transfers through the Mashreq Mobile app and Online Banking, making the process accessible from almost anywhere. Here's how the general flow works across channels.
Mashreq provides access to digital platforms for initiating transfers, and the mobile app is the most popular starting point. The typical process looks like this:
Log in to Mashreq Mobile or Mashreq Online using your credentials.
Navigate to the "Money Transfer" section from the dashboard. You'll see options for QuickRemit (faster, home-currency remittances to select countries) and International Money Transfer (SWIFT-based, wider reach).
Select an existing beneficiary or add a new one. When browsing destination options, you'll see country tiles - for example, an India rect icon or similar visual selectors for Pakistan, Philippines, Hong Kong, and other corridors.
Enter the amount you want to send and choose the currency. For QuickRemit, this defaults to the recipient's home currency. For SWIFT, you can send money in over 30 currencies worldwide.
Review the displayed exchange rate, fees, and charge allocation (whether you or the recipient covers correspondent bank charges).
Confirm using OTP or biometric authentication. You may notice a brief spinner white decorative animation while the system processes your request.
When you add a new beneficiary, you'll need to fill in the recipient's IBAN or account number, SWIFT/BIC code, and bank details, then save and authenticate via OTP. Be aware that Mashreq customers can send up to AED 7,000 immediately after adding a new beneficiary - specifically, Mashreq allows AED 7,000 per transaction for new beneficiaries within the first six hours of adding them. After that window, transfer limits vary by corridor after 6 hours, and standard corridor-specific limits take effect.
Transfers sent via QuickRemit are processed instantly in many corridors, while SWIFT payments may take longer depending on intermediary banks and destination country banking hours.
For those who prefer in-person services, the process at a branch location involves:
Bringing your Emirates ID or passport for identity verification.
Filling out an international remittance or SWIFT form with complete beneficiary details.
Stating the purpose of payment (family support, education, trade, etc.) and providing source of funds information.
Submitting any supporting documents required for your specific corridor or transfer type.
Your current or savings account is debited directly. Branch-based transfers generally accommodate higher limits after additional verification, which can be useful for large payments. Some customers also fund transfers via a linked debit card inside Mashreq Mobile, though most transfers pull directly from the bank account.
QuickRemit transfers go through faster corridors in the recipient's home currency. SWIFT transfers cover a wider range of destinations but may involve intermediary banks and additional processing time.
Having the right details ready before you start can save you from rejected transfers, delays, and exchange rate losses. Here's what Mashreq typically requires:
Recipient/Beneficiary Details:
Full legal name (must match the recipient's bank account)
Bank name and branch or address
IBAN or account number
SWIFT/BIC code
In some corridors: routing number, sort code, or CLABE (Mexico)
Sender Information:
Clear payment purpose - for example, family support, education fees, medical expenses, property purchase, or trade payment. UAE and international regulations require this clarification for every transfer.
Emirates ID or passport for identity verification
Supporting Documents (when applicable):
For higher-value transfers: salary certificates, invoices, or sale and purchase agreements
For US dollar payments or commercial transactions: commercial invoices, transport documents, trade agreements
Mashreq's transfer form may display an empty heading placeholder for optional fields - don't skip these if they apply to your transfer type. Every detail matters.
Double-check all beneficiary information before confirming. A transaction rejected due to incorrect details is refunded in 3 working days, but the exchange rate applicable at refund may differ from your original rate.
US dollar outward remittances are subject to stricter international compliance checks. Because USD payments route through US correspondent banks, Mashreq often requires enhanced due diligence before processing these transfers. This applies to both personal and business customers, though business accounts face the most scrutiny.
Supporting documents may be mandatory for USD transfers initiated via Mashreq Online or at branches. Payments are typically categorised by type - each with slightly different information requirements:
Service payments: Type of service, country of service, and optionally the end-user's name and nationality.
Trade payments: Port of loading and discharge, invoice copies, and transport documents such as bills of lading.
Trade advance payments: All of the above, plus details on goods' origin and nature.
If required documentation is missing or incomplete, the payment may be declined without compensation for any exchange rate loss that occurs between submission and resubmission. Customers are typically notified of a decline by SMS, email, or phone and must reinitiate the money transfer with correct documentation.
The cost and speed of a Mashreq international money transfer depend on the destination country, the transfer channel (mobile, online, or branch), and whether the transfer uses QuickRemit or the SWIFT network. Mashreq’s beneficiary limits and waiting periods may vary. Mashreq’s beneficiary limits and waiting periods may vary. Check Mashreq’s official guidance for current transfer limits and beneficiary activation rules.
Because exact fee amounts and rate markups change over time, always check the latest information inside Mashreq Mobile or Mashreq Online before you send money. Here's a general breakdown of what to expect.
Fees fall into a few categories:
Fixed Transfer fees: Quick Remit’s fees and any additional bank or intermediary charges depend on the applicable terms. Check the provider’s current fee information before transferring.
Promotional corridors: The zero transfer fee for India and Pakistan is a limited offer. This dramatically reduces costs for the most popular UAE outbound corridors. Transfer fee offers may vary by destination and eligibility. Check the provider’s official website for current promotions and terms.
SWIFT transfer fees: Standard SWIFT transfers may involve intermediary bank fees. You'll choose a charge type - SHA (you pay Mashreq's fee, recipient pays correspondent charges), OUR (you bear everything), or BEN (recipient bears all). Mashreq’s international wire transfer fees depend on the transfer method and applicable charges. Check Mashreq’s current Schedule of Charges for the latest fees. Additional beneficiary or correspondent bank charges may apply.
Branch fees: Fees for international transfers initiated at a Mashreq branch may differ by account type and transaction. Check Mashreq’s current Schedule of Charges for applicable fees.
Fees may be revised without prior notice, so always confirm the current schedule before initiating a transfer.
Mashreq applies exchange rates and currency conversion charges according to its current terms. Check the applicable rate and fees before confirming a transfer. The rate displayed during initiation is indicative - the actual rate applied is the one at the time of processing, not submission. This means there can be a small change between what you see and what gets applied, especially if there's a delay.
For high-value or premium-segment customers, preferential rates may be available.
| Scenario | Limit |
|---|---|
| New beneficiary (first 6 hours) | Up to AED 7,000 per transaction |
| After 6 hours | Corridor-specific limits apply |
| Branch transfers | Generally higher limits with additional verification |
| Daily/monthly caps | Vary by customer segment and account type |
Mashreq imposes per-transaction, daily, and sometimes monthly limits on international transfers via Mashreq Mobile and online banking. Higher limits are generally available through branches after additional identity and source-of-funds checks.
Mashreq imposes strict cut-off times for wire transfers and has strict cut-off times for wire transfers. Here's what that means in practice:
QuickRemit: QuickRemit transfer processing and delivery times vary by destination, payment method, and transaction requirements. Check the provider’s official website for current delivery estimates. QuickRemit allows instant or same-day remittances to select corridors, though transfer speed for Quick Remit can depend on cut-off times and compliance checks.
SWIFT: Standard SWIFT transfers typically take 1 to 3 business days, depending on intermediary bank involvement and destination banking hours.
After cutoff: Transfers submitted after the daily cutoff process the next working day. Transfers to countries not supporting 24/7 processing will process next working day.
Weekends and holidays: UAE weekends (Saturdays and Sundays) and public holidays in either the UAE or the recipient's country can introduce delays. Some 24/7-enabled corridors still process instantly regardless of the calendar.
Mashreq publishes Key Facts Statements and Terms & Conditions for its money transfer services, explaining fees, limits, and processing times in plain language. These documents are available on Mashreq's website and within the app.
Real-time transaction tracking is available through SWIFT gpi for international wire transfers, giving senders end-to-end visibility on where their funds are at any given moment. Digital confirmations and on-screen breakdowns inside Mashreq Mobile help ensure transparency and traceability for each remittance.
Before confirming any large international payment, review these documents and the on-screen fee summary carefully. Look under each heading and sub-heading in the transfer flow to confirm the total cost - the Mashreq logo at the top of your confirmation screen should give you confidence you're on the official platform.
Alongside bank transfers, many UAE residents use dedicated online remittance providers to send money internationally. ACE Money Transfer provides international remittance services across supported corridors, with available payout options and exchange rates depending on the destination and transaction details. If you’re comparing options for smaller or frequent international remittances, review the fees, exchange rates, delivery times, and receiving methods offered by banks and providers such as ACE Money Transfer.
You can send international remittances using the ACE Money Transfer platform by creating an online account, entering recipient details, and paying via debit card, credit card, or online bank transfer.
Here's a step-by-step walkthrough of how to send money with ACE:
Register or log in to your account using your email, Google, or Apple ID.
Choose your destination country - for example, India, Pakistan, Philippines, or Hong Kong - and select a payout option (bank deposit, mobile wallet, or cash pickup).
Enter accurate recipient details, including bank account numbers, mobile wallet numbers, or cash pickup location preferences depending on your chosen payout method.
Select a payment method such as a debit card, credit card, or online bank transfer. Funding and delivery times vary by payment method and transaction. Rates and fees may vary. Visit acemoneytransfer.com for current rates.
Add a payment reason and confirm the transfer details - including exchange rate, fees, and the amount the recipient will receive - before clicking "Pay Now."
Track your transaction in real-time using the reference tracking number provided. ACE gives senders status updates from initiation through to payout.
ACE supports multiple payout methods depending on the recipient's country:
| Payout Method | How It Works |
|---|---|
| Bank Deposit | Direct transfer to the recipient's bank account at major partner banks globally |
| Cash Pickup | Over-the-counter cash collection at authorized partner bank branches and agent locations |
| Mobile Wallet | Instant crediting to supported digital wallet accounts |
ACE Money Transfer may offer different receiving methods, including cash pickup in supported locations. Availability depends on the destination and service conditions. Check the available options before sending.
Mashreq customers can initiate international transfers through Mashreq Mobile, subject to account eligibility and service availability. ACE Money Transfer offers international remittance services with receiving options, fees, and delivery times that vary by destination and transaction details. Check each provider’s current terms before sending. ACE Money Transfer fees and exchange rates may vary by corridor and transaction details. Rates and fees may vary. Visit acemoneytransfer.com for current rates.
Mashreq allows eligible customers to initiate international transfers through their existing bank account, subject to account terms and service availability. Fees and exchange rates may vary by transfer amount, destination, and account type. Check Mashreq’s current terms and charges before sending.
Consider your own needs - speed, payout method (bank deposit vs. cash pickup vs. mobile wallet), and total cost - when deciding whether to send money via Mashreq Bank, ACE Money Transfer, or a combination of both.
International money transfer through Mashreq and reputable providers like ACE takes place over secure, encrypted channels. Mashreq customers can initiate eligible international transfers through their existing account. Fees, exchange rates, and security measures vary by provider and transaction. Key Security Practices
Never share OTPs or online banking passwords with anyone, including people claiming to be bank representatives.
Verify beneficiary information verbally with the recipient before initiating a transfer - a single digit wrong in an IBAN can redirect your funds or trigger a rejection.
Use only official apps and websites when you send money. Download Mashreq Mobile from your device's official app store and access ACE only through its verified website or app.
Both Mashreq and ACE monitor transactions for unusual patterns. Legitimate transfers may occasionally be delayed for additional verification in line with AML and sanctions rules - this isn't a result of an error on your part, but rather a standard compliance check.
Compare before you confirm. Check the exchange rate and total fees inside Mashreq Mobile or the ACE platform before hitting "send." Even small differences in rate markups can add up across frequent transfers.
Don't send at the last minute. Given cutoff times and potential compliance holds, initiate your transfer well before any deadline - especially for education payments or business invoices with due dates.
Keep digital copies. Save screenshots or PDFs of receipts and reference numbers for every transfer. These are essential if you need to raise questions or disputes later.
Understand the type of transfer you need. QuickRemit is ideal for fast, personal remittances in home currency. SWIFT is better for multi-currency, high-value, or commercial payments.
If a money transfer is delayed or appears stuck, here's how to get support:
Mashreq: Contact the call centre, use chat support within Mashreq Mobile, or visit a branch. Have your transaction reference number ready for faster resolution.
ACE Money Transfer: Reach out to ACE customer support through the app or website, quoting your tracking reference number.
In either case, provide as much information as possible - the amount sent, the date, the destination country, and any confirmation codes you received.
Plan your international remittances ahead of time - whether via Mashreq Bank, ACE Money Transfer, or both - so that family support, education fees, or business payments arrive on time and with minimal cost. The right choice depends on your corridor, your urgency, and how much you're willing to pay in fees. Compare fees and exchange rates before your next transfer to see whether another option may offer better value. Costs and savings vary by provider and transaction.
Disclaimer: This article is intended for general informational and educational purposes only and should not be construed as legal, regulatory, tax, business, or financial advice. While reasonable efforts have been made to ensure that all facts, figures, and data are accurate and valid as of the date of publication, no warranty or guarantee is given as to the ongoing completeness, accuracy, or currency of the information.
The content is based on information available at the time of publication. Regulations, government policies, market conditions, and service offerings may change over time and vary across jurisdictions and providers. As a result, some information may no longer be current or applicable. Readers should independently verify all information and consult qualified professional advisors before making any financial, legal, or business decisions.
