How to Best Send Money to Sri Lanka from the UAE: A Money Transfer Guide

Sinhalese is one of the 200 nationalities contributing to the rich culture of the United Arab Emirates. Like other expats, the Sinhalese are concerned about international money transfers, specifically concerning how to send money to Sri Lanka.

Job seekers worldwide are attracted to the UAE for its excellent infrastructure and growing economy; thus, expats comprise over 85% of the UAE’s population.

For this reason, the United Arab Emirates has become one of the globe’s top remittances markets, with outward personal remittances topping 169.2 billion AED in 2018, according to The National, a leading Middle East news platform.

Today, UAE expats are sending these remittances to nearly every country worldwide, and Sri Lanka is no exception.

Therefore, as a Sinhalese or person with Sinhalese ties, your goal should be to find the least expensive provider to help you save on fees and access better exchange rates, regardless of whether you send money to your loved ones in Colombo, Kalutara, Gampaha districts in the northern and eastern regions, or other areas in Sri Lanka.

In this article, we will offer you a thorough guide on how to send money to Sri Lanka from the UAE quickly and securely. We will cover:

1. Top problems of international money transfer from UAE to Sri Lanka

2. Mistakes to avoid when making international transfers to Sri Lanka from UAE

3. A cost-effective and easy way to send money from UAE to Sri Lanka

[Are you looking for a convenient, trusted, and easy way to send money to Sri Lanka from the UAE? Download Hubpay on Apple or Google play store and register for free to enjoy efficient international money transfers with multiple additional services such as bill payments and airtime recharge.]

1. Top problems of international money transfer from UAE to Sri Lanka

Here are some of the top issues everyone commonly faces when transferring money abroad:

1. Poor exchange rates

The exchange rate is the main worry when sending money abroad because it fluctuates and varies depending on the bank or vendor offering online or offline money transfer services. Particularly when transferring a substantial sum of money, a poor exchange rate can result in a considerable loss of hard-earned money.

1. Hidden fees

Most international online money transfer service providers in the UAE typically charge additional and undisclosed fees for each transaction. These hidden fees can add to the total cost of sending money abroad, making it more expensive.

1. Slow transfers

When you send money back home to Sri Lanka, you want it to arrive as soon as possible. Unfortunately, sometimes it takes a while to process, especially when using bank transfers. It might take several days before the fund is available to the recipient.

Furthermore, in case of an emergency, extra fees are charged to process a same-day transfer. Other factors that might cause delays are the banking holidays and the time difference between the UAE and Sri Lanka.

1. Inconvenience

Sending money might require going to the bank or the exchange house and waiting for a while. Making these round trips might be inconvenient and the time consumed might be better spent somewhere else.

1. Mistakes to avoid when making international transfers to Sri Lanka from UAE

When sending money to Sri Lanka, be careful to avoid the following mistakes:

1. Not doing your research

Before deciding how to send money to Sri Lanka, some research is required. Doing good research about the available options, exchange rates, and transaction service fees is necessary. Don’t go with the first option that pops up on your screen because you might lose the chance to save some money and enjoy a better service.

1. Not using a reputable provider

Researching informs you about the exchange rates and fees and helps you find the best company to transfer money internationally. Unfortunately, there are many scammers out there and you can be scammed if you are not careful. So, ensure you pick a licensed service provider in the UAE.

When deciding on a money transfer service provider, you should check their website, social media, and online reviews. Additionally, don’t let cheaper transfer fees or higher exchange rates be the sole decision-making factor.

1. Incorrect payment details

Using incorrect payment details is one of the most common mistakes regarding money transfers. Entering the wrong details can cause a huge delay: the transfer can take days to process as it will take a while to coordinate with the recipient and correct the details.

Moreover, the transfer can eventually fail.

3. A cost-effective and easy way to send money from UAE to Sri Lanka

Whether you've been saving small amounts from your salary or doing side hustles in Dubai to generate extra income, you'll need a cost-efficient method to transfer those funds back home to your loved ones.

Hubpay is a mobile application for sending money from the UAE to your loved ones abroad, including Sri Lanka. Below are the key benefits of using the Hubpay international money transfer service:

• No extra fees: Hubpay offers the most competitive foreign exchange rates because it can send AED directly without being converted to another currency, such as USD.

• Quick transfers: Transfers from UAE to Sri Lanka and other countries are completed without any delays. When you send money to Sri Lanka, the recipient will get it in LKR rupees in no time.

• Easy communication with recipient: The app has a chat feature that allows you to easily communicate with the recipient while the transfer is being processed.

• Add-on services: Hubpay is not just for international money transfers, it also offers additional features like international bills payment and international airtime recharge. With these features, you can pay the bills and recharge the phones of your family and friends in Sri Lanka.

Basic steps to send money to Sri Lanka from UAE safely and quickly

There are a few simple steps you’ll need to know to set up Hubpay before you can send money to your loved ones in Sri Lanka.

1. Download the Hubpay app

The Hubpay app is available on the IOS and Android app store. Simply download the compatible version for your mobile phone.

1. Create a new account

After downloading and installing Hubpay on your mobile phone, open the app and create a new account for free.

For identity confirmation, you will be asked to scan your emirates ID as part of the UAE’s know-your-customer (KYC) requirements. Complete the scan to get the account fully set up.

Security Measures

Hubpay provides advanced security measures to protect your account even in extreme conditions such as a stolen or lost mobile phone. This ensures no one else can access your account. There are two key security measures used on Hubpay:

One-time password (OTP)

Hubpay uses one-time password confirmation to add a layer of security to your account. Every time you log in, a new password is sent via text message (SMS) to your phone number, and no one can access the account without it.

Biometrics

Hubpay provides a high-end security tool via biometrics. Although someone could steal your mobile phone, no one can steal your fingerprint or face. Simply scan your fingerprint or face with Hubpay and level up your account’s security.

Link bank account

After setting up the account and securing it, the next step is to connect your Hubpay account to your bank account:

1. Click (Add Money) on the homepage, and a new pop-up tab titled (Link Your Bank Account) will appear.

Biometrics

Hubpay provides a high-end security tool via biometrics. Although someone could steal your mobile phone, no one can steal your fingerprint or face. Simply scan your fingerprint or face with Hubpay and level up your account’s security.

Hubpay integrates with your bank account to streamline money transfers. This process is necessary only once, so you can transfer money to your Hubpay account as much as you need without re-entering the details.

5. Add money to your Hubpay mobile wallet

Once you link your bank account, you can start adding money in AED to your Hubpay mobile wallet. On the app’s homepage, click on the (+) sign in the top right corner and input the amount.

Review the payment amount, confirm the transaction, and Hubpay will add it directly to your mobile wallet. Repeat this step whenever you need to add funds to your Hubpay wallet.

6. Remit money to loved ones in Sri Lanka

Once you choose Sri Lanka on the homepage, full details about the transfer fees and current foreign exchange rate between AED and Sri Lankan Rupees are displayed with no hidden charges.

To send money, click on the (Send Money) blue button at the bottom of the homepage and input the amount of money you want to send and the recipient’s bank details.

To ensure everything is set up correctly, the app will ask you to review the transaction details to ensure everything is set up correctly. As soon as you confirm it, it’ll instantly make the transfer to the recipient’s account.

7. Chat feature

Hubpay provides direct real-time communication between the sender and the recipient through a built-in chat feature.

8. Transactions history

You can check all your transactions status through the (Transaction) tab on the homepage. It provides an overview of completed and pending transactions (including estimated completion time).

[Do you want to send money to Sri Lanka from the UAE cost-effectively and easily? Download the Hubpay app for free on Apple or Google Play stores to enjoy low-cost international money transfers, international bill payments, and mobile recharges.]

Takeaways

• UAE is the global destination for jobseekers from all around the world, and one of the largest international remittances.

• International money transfer has common problems such as poor exchange rates, hidden fees, and inconvenience

• Hubpay app is a safe, fast, and reliable international money transfer app for free

• Hubpay provides a high level of security through two security measures: One-time password (OTP) and Biometrics