One of the hottest topics in the UAE right now is the launch of a highly innovative banking platform called Gulf Transfer. As a formation business we know already that the first thing that comes after registering a company in the UAE is the need for a bank account or method of sending and receiving payments. With bank account opening staff arriving late and months of delays to open a simple business account in Dubai, a gap in the market has been here for some time. Thats without even talking about the giant account opening balances which can be just too much for some small businesses we deal with.
Here is where Gulf Transfer have stepped in, a payments account offering over 100 currencies of which you are able to send, receive and exchange at some of the most competitive rates on the market this company is certainly here to stay.
We began on boarding of our clients over the last month and the complete process has averaged 3 days to have the account opened and clients able to make transfers which is a far cry from the 2 months average we had prior to this.
We love the fact we can open AED accounts for clients along with service all the currencies in our major client markets including all the African currencies, Asian currencies and of course the majors USD, EUR, GBP.
This for us covers pretty much every possible client we have on our books and gives them what they want without them having to wait.
The sign up process is really simple and doesn’t require hundreds of forms and signatures along with the stamps of every man and his dog to complete which is a breath of fresh air for simplicity with application processing.
This all comes with a price (what doesn’t now days) but after working with several institutions like this we can really see that you get what you pay for.
Gulf Transfers Service is one highly recommended by us and we have had no issues so far with payments or the on-boarding process of our clients.
One of the main features that our clients have loved is the local currency collections accounts which means that if a customer wishes to be paid in GBP they will get local details in the UK making the receipt of funds much faster than making international payments.
For security the platform is regulated by the DFSA – Dubai Financial Services Authority and the FCA – Financial Conduct Authority in the UK so are fully compliant.
For any business looking to get their account opened we are one of their approved referral agents and are taking applications now for account openings.
Give us a call today or we are live in our chat feature 24/7.