Where to Exchange Money in Dubai | A Complete Guide

Fri, 08 Nov, 2024

When you're in Dubai, one of the first things you'll need to figure out is where to exchange money. Finding the best places to exchange currency can make a big difference, not only in convenience but also in saving some extra cash.

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In this guide, we'll explore all the different ways you can exchange money in Dubai. Whether it's at the airport, in malls, or even through ATMs, we've got you covered.

Where to Exchange Money in Dubai

Exchange Location	Pros	Cons	Operating Hours
Dubai Malls	Multiple exchange options available	Busy during peak shopping hours	Same as mall hours (usually late night)
	Convenient if you're already shopping
	Extended hours for convenience
Dubai International Airport	24/7 availability for travelers	Often offers less favorable rates	24/7
	Multiple exchange counters across terminals	Can be crowded, especially at peak times
ATMs (Citywide)	Widely available across Dubai	Possible bank fees for international withdrawals	24/7
	Convenient for instant cash withdrawals	Not ideal for multiple small transactions
Hotels	Extremely convenient for small amounts	High convenience fees, less competitive rates	24/7 (based on hotel services)
	Easy access if staying in the hotel
Popular Exchange Houses	Competitive rates	Requires identification documents	Varies by location (often late hours)
(Al Ansari, Al Fardan, GCC)	Multiple branches across the city	Some branches may be busy during peak times

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1. Where to Exchange Money in Dubai Malls

One of the easiest places to exchange money in Dubai is at one of the many malls. Malls in Dubai are not just for shopping-they also have multiple exchange houses that can help you with currency conversion. The Dubai Mall, for instance, has over ten different exchange bureaus. These include branches of popular exchanges like Al Ansari Exchange, Al Fardan Exchange, Al Ghurair Exchange, LM Exchange, and Orient Exchange. This means that if you're shopping or just visiting the mall, you can easily exchange your money.

The malls also offer the benefit of extended hours. Most exchange houses in malls stay open during mall hours, which can be more convenient compared to other places. This means you can exchange your money in Dubai even late into the evening.

Dubai malls are known for their convenience, not just in shopping but also in offering multiple services, including money exchange. The Dubai Mall, Mall of the Emirates, City Centre Deira, and others have various exchange houses that provide competitive rates. You can find well-known exchange companies like Al Fardan Exchange, Al Ansari Exchange, and Sharaf Exchange in these malls. These exchanges are reliable and have a reputation for providing excellent service, making it easy for you to convert your money without hassle.

Advantages of Mall Exchanges

• Convenient Hours: Open during mall times, usually from morning to late night. Most malls operate well into the evening, which means you can exchange your money after a long day of shopping or sightseeing.

• Multiple Options: More choices mean you can compare rates easily. Comparing rates across different exchange houses can help you get the best value for your money.

• Central Locations: Most malls in Dubai are centrally located, making them easy to reach. This is particularly useful if you are staying in popular tourist areas.

Dubai malls also offer the benefit of other services, such as dining and entertainment, allowing you to make a day out of your visit. You can shop, eat, and exchange money all in one place, adding convenience to your travel experience.

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2. Where to Exchange Money at Dubai International Airport

If you're just arriving in the city, the Dubai International Airport is a convenient place to exchange money. Each terminal has currency exchange options, so whether you're landing at Terminal 1, 2, or 3, you won't have trouble finding an exchange bureau. One of the popular names you'll see here is Travelex, which has several branches throughout the airport.

You can also find Al Ansari Exchange in Terminal 1, and there are other smaller multi-currency exchange counters scattered throughout. One of the best things about airport exchanges is that they are open 24/7, so no matter what time your flight arrives, you'll be able to swap your currency.

The Dubai International Airport is one of the busiest airports in the world, and it caters to travelers' needs by providing multiple exchange options. Apart from Travelex and Al Ansari Exchange, you will also find several other multi-currency exchange counters in Terminals 1, 2, and 3. The best part about these exchanges is that they operate around the clock, making it easy for travelers who land at odd hours to get their money exchanged without any delay.

Airport vs. Other Exchange Locations

• Always Open: Airport exchanges never close. This makes them ideal for travelers arriving in the middle of the night or very early in the morning.

• Convenience for Travelers: Especially useful if you need cash immediately after landing. It is also helpful if you need to exchange money before heading to your hotel or any other destination.

• Rates: Sometimes the rates at the airport are less favorable compared to city exchange houses. While convenience is a plus, airport rates may not always be the best, so it's wise to exchange only a small amount initially and explore better rates in the city.

In addition to exchange counters, the airport also has ATMs where you can withdraw cash in UAE dirhams. Look for ATMs operated by banks like Emirates NBD, Mashreq Bank, or international banks such as HSBC. Using ATMs can sometimes be a better option depending on the fees charged by your home bank.

3. Using ATMs to Get Cash in Dubai

Another simple way to get local currency is by using ATMs. If you prefer using your international card to withdraw cash, ATMs are a solid choice. They are available everywhere in Dubai-at malls, airports, hotels, and on many streets. Look for ATMs of local banks like Emirates NBD and Mashreq Bank, or international ones like HSBC.

Before using an ATM, it's always wise to check with your home bank about withdrawal fees. Some banks add extra charges for international withdrawals. If the fee is fixed, you might want to make fewer, larger withdrawals rather than many small ones.

ATMs are scattered across Dubai, making it extremely easy to access cash whenever you need it. You will find them in every corner of the city, including in malls, hotels, airports, and even local convenience stores. Some of the popular banks that operate ATMs include Emirates NBD, Mashreq Bank, Dubai Islamic Bank, and international banks like HSBC.

Using ATMs to withdraw local currency can often be convenient, especially if you don't want to carry a lot of cash with you. However, it's crucial to keep an eye on the fees your bank charges for international transactions. In many cases, making fewer large withdrawals is more economical than making several smaller ones. ATMs in Dubai are user-friendly, and many offer multi-language support, making them accessible for international travelers.

Benefits of Using ATMs

• Accessible Everywhere: ATMs are scattered across the entire city. You can find them easily in malls, supermarkets, and even near tourist attractions.

• 24/7 Availability: Just like exchanges at the airport, ATMs are always accessible. No matter what time of day, you can withdraw cash when needed.

• Local Currency on Demand: Get your cash in dirhams without visiting an exchange house. This is particularly useful if you prefer not to carry large amounts of foreign currency and instead withdraw cash as required.

Using ATMs can also provide better exchange rates compared to some exchange houses, depending on your bank's fees. It is always wise to contact your bank before traveling to understand any international fees involved in using your card abroad.

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4. Money Exchange in Hotels: Worth It?

Most hotels in Dubai also offer currency exchange services, but it's important to note that you might not get the best rate here. Hotels add a convenience fee, which makes their rates less attractive compared to dedicated exchange houses. If you're in a rush or need a small amount of cash, hotels can be an option, but otherwise, it's best to exchange elsewhere.

If you do decide to exchange at your hotel, simply ask at the front desk or check the hotel's website to see if this service is available.

Many luxury and high-end hotels in Dubai provide currency exchange services to cater to their guests. This service can be helpful if you are staying at a resort and do not want to leave the premises to find an exchange house. However, it's worth noting that the rates offered by hotels are usually not as competitive as those found at dedicated currency exchange centers.

Hotels provide exchange services mainly for convenience, and while it's great if you need a small amount of cash urgently, it's not the best option if you're looking to get a good exchange rate. If you need a larger amount, you're better off visiting an exchange house in a mall or using an ATM.

When to Use Hotel Exchange Services

• In a Hurry: If you need cash immediately and don't have time to find an exchange house. This is especially helpful if you arrive late at night or need money for a quick purchase.

• Smaller Amounts: For exchanging small amounts, the convenience may outweigh the poor rates. If you're just buying a meal or paying for a taxi, the convenience may be worth it.

• Convenient but Costly: Hotels are all about convenience, but you pay for it. The rates are typically less favorable, and the convenience fee can add up.

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5. Can You Use International Cards in Dubai?

Yes, you can use international cards like Visa, Mastercard, American Express, and others at most shops, restaurants, and hotels in Dubai. Just keep in mind that your bank may add a fee for international transactions. Often, this fee includes both a fixed charge and a percentage of the transaction amount. This can make paying by card quite costly if you do it often.

If you do use your card, you might be given an option to pay in dirhams or in your home currency. Always choose dirhams to avoid additional hidden fees that can come with currency conversion.

Using your international card in Dubai is very easy as most businesses accept major credit cards, including Visa and Mastercard. You can use them at restaurants, hotels, shopping malls, and even for taxi rides. Some vendors also accept cards like American Express and Diners Club, but it's always good to check in advance.

One thing to keep in mind is that many international cards may come with additional charges for foreign transactions. This can include a flat fee plus a percentage of the transaction amount. To avoid these costs, consider using cash where possible or making fewer but larger transactions.

Important Tips for Card Use

• Transaction Fees: Check with your bank for international transaction fees. Some banks have partnerships that reduce these fees, so it's good to inquire before you travel.

• Always Pay in Dirhams: This helps you avoid extra hidden charges. If you're given an option to pay in your home currency, always decline.

• Widely Accepted: Visa and Mastercard are accepted almost everywhere. However, it's a good idea to carry some cash for smaller vendors that may not accept cards.

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6. Documents Needed for Currency Exchange

When exchanging money in Dubai, make sure you have some form of identification. Most exchange houses will ask for either your passport or national ID. In some cases, especially if you're using traveller's cheques, it's a good idea to call ahead to make sure they will accept them. Not every exchange bureau handles traveller's cheques, so this can save you time.

Another point to remember is that the UAE dirham is pegged to the US dollar. This means the exchange rate for dollars to dirhams remains stable, while the rates for other currencies may fluctuate.

To exchange money at an exchange house in Dubai, you will need a valid ID, which could be your passport, Emirates ID, or another form of national identification. This is a standard requirement for all exchange transactions to comply with local regulations. If you are planning to use traveller's cheques, you should call ahead to confirm that the exchange house will accept them.

Traveller's cheques are not as widely used as they once were, and many exchange houses no longer accept them. If you do have them, make sure you verify their acceptance before heading out to exchange them.

Required Documents for Currency Exchange

• Passport or National ID: These are usually mandatory. Carry a photocopy if you want to keep your original documents safe.

• Traveller's Cheques: Call ahead to confirm acceptance. This will save you time and hassle if they are not accepted.

• Contact Details: Some places might ask for your local contact information. Having these details ready will make the exchange process smoother.

7. Popular Exchange Houses in Dubai

Dubai is home to several well-known exchange houses that are trusted and have many branches across the city. Some of the most popular ones include:

• Al Ansari Exchange: Founded in 1966, Al Ansari is one of the most recognized exchange houses in Dubai. With over 115 branches, including locations in Dubai Mall, City Centre Deira, and Al Barsha, you're never far from an Al Ansari branch.

• GCC Exchange: This exchange is also well-reputed, with branches in neighborhoods like Bur Dubai and Deira.

• Sharaf Exchange: Part of the Sharaf Group, this exchange has 20 branches across Dubai, including in places like Satwa and Mercato Mall.

• Al Fardan Exchange: With over 30 branches in Dubai, you can find Al Fardan in areas like Bur Dubai, Mall of the Emirates, and Dubai Festival City.

These exchanges have earned a solid reputation for offering good rates and making the process quick and convenient.

Dubai has numerous reliable exchange houses that offer competitive rates and trustworthy services. Al Ansari Exchange, with its extensive network of over 115 branches, is perhaps the most well-known. You will also find GCC Exchange, which has branches across popular areas like Bur Dubai and Deira. Sharaf Exchange and Al Fardan Exchange are other popular options that have multiple branches in Dubai, providing convenience for tourists and residents alike.

Key Locations of Popular Exchange Houses

• Al Ansari Exchange: Dubai Mall, Al Barsha, City Centre Deira. This makes it one of the most accessible options for travelers.

• GCC Exchange: Bur Dubai, Deira. Convenient locations make this a popular choice for those staying in older parts of the city.

• Sharaf Exchange: Satwa, Mercato Mall. Ideal for those who are visiting residential neighborhoods and smaller shopping centers.

• Al Fardan Exchange: Bur Dubai, Mall of the Emirates, Dubai Festival City. Widely distributed branches make it easy to find an Al Fardan Exchange near you.

These exchange houses provide a range of services beyond currency exchange, such as remittances and bill payments, which can be handy if you are staying in Dubai for an extended period.

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8. Where to Find the Best Rates for Money Exchange

When exchanging money in Dubai, it's always a good idea to compare rates between different exchange houses. Rates can vary slightly from one place to another, and these small differences can add up, especially if you're exchanging a large amount of money. Mall exchange houses usually offer competitive rates, but if you have the time, consider comparing rates at multiple locations before settling on one.

Another option is to check rates online before heading out. Some exchanges also offer the ability to lock in a rate online, which can be helpful if you see a rate you like and want to avoid any fluctuations.

Getting the best exchange rate is all about comparing different options. Currency exchange rates can vary depending on the provider and location, so taking the time to compare rates is worthwhile. Most malls offer competitive rates, but you can also find favorable rates at dedicated exchange houses that are not inside shopping centers.

Some exchange houses allow you to lock in a rate online and then complete the transaction at one of their branches. This can be a great way to ensure you get the rate you want without worrying about changes in the market.

Tips for Finding the Best Rates

• Compare Rates: Always compare rates at different locations. Even a small difference in rates can make a noticeable difference in the amount you receive.

• Check Online First: Some exchange houses post rates online. This can help you decide where to go to get the most value for your currency.

• Consider Location: Airport and hotel rates are often less favorable. For the best rates, consider visiting a dedicated exchange house in a mall or a central area of the city.

Dubai has plenty of options when it comes to exchanging money. From the convenience of malls and airports to the accessibility of ATMs and hotels, you have choices depending on your needs. Remember that using popular exchange houses like Al Ansari and GCC Exchange is often the best way to get a good rate. If you're in a rush, airport and hotel options are available, but they might not offer the best value. With a little planning and by comparing rates, you can ensure that your money goes further while you enjoy all that Dubai has to offer.

Whether you're visiting for leisure or business, finding where to exchange money in Dubai shouldn't be a hassle if you know where to look. From malls to airports, and even ATMs and hotels, each option has its own benefits and drawbacks. By choosing wisely, you can get the best value for your currency and have more to spend on enjoying everything Dubai has to offer. With the right planning, exchanging money in Dubai can be a seamless part of your travel experience.

Conclusion

Dubai offers a variety of convenient and reliable options when it comes to exchanging currency, from malls and airport exchanges to ATMs and hotel services. Whether you're arriving in the city for business or leisure, knowing where to exchange money can save you time, effort, and even some extra cash. Malls such as Dubai Mall and Mall of the Emirates are great options if you're looking for extended hours and competitive rates. For those landing at odd hours, Dubai International Airport has 24/7 exchange bureaus and ATMs, making it easy to obtain UAE dirhams. ATMs throughout the city provide an alternative for those who prefer withdrawing cash using their international cards, though it's essential to be mindful of any fees.

Popular exchange houses such as Al Ansari Exchange, GCC Exchange, and Al Fardan Exchange are known for their reliability and convenience, with branches located across Dubai's popular areas. These exchange houses ensure fair rates and simple, hassle-free processes. Additionally, hotels may offer currency exchange services, but these tend to come with less favorable rates compared to dedicated exchange houses.

Overall, exchanging money in Dubai doesn't have to be a challenge. With the right planning, you can make sure you get the best value for your currency while enjoying your stay in this beautiful city. The UAE government has regulations in place to ensure transparency and security in currency exchanges, providing travelers with peace of mind.

Where To Exchange Money in UAE

Location	Advantages	Drawbacks
Malls	Extended hours, multiple options	Busy during peak times
Airport	24/7 availability, ideal for travelers	Rates may be less favorable
Hotels	Convenient for small amounts	Higher fees, less competitive rates
ATMs	Widely available, instant cash	Potential bank fees for withdrawals

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FAQs on Where to Exchange Money in Dubai

Where is the best place to exchange currency in the UAE?

The best place to exchange currency in the UAE depends on your needs. For competitive rates and convenience, Al Ansari Exchange is a trusted option with multiple branches across Dubai. Malls like Dubai Mall and Mall of the Emirates also have reliable exchange houses, making it easy to swap currency during your shopping trips.

Look out for these: Al Ansari Exchange, GCC Exchange, Sharaf Exchange.

These are some of the most trusted currency exchanges in the UAE. Al Ansari Exchange, with over 115 branches in Dubai, offers fair rates and convenient locations. GCC Exchange also has a good reputation, with branches in Bur Dubai and Deira. Sharaf Exchange is another excellent choice with many branches in residential and shopping areas.

Which exchange is best in the UAE?

Al Ansari Exchange is one of the leading exchange companies in the UAE, operating for nearly 60 years. It offers online money transfer services, offline remittance, and foreign exchange services. This wide range of services, combined with competitive rates, makes it one of the best options for both residents and visitors.

Where is the best place to exchange currency?

Local banks and credit unions usually offer the best rates for currency exchange. Major banks like Emirates NBD in Dubai can also provide added convenience with ATMs located throughout the city. If you need immediate cash, mall exchange houses are another good option.

What is LuLu exchange rate charge?

LuLu Exchange charges fees that range between 18.11 AED to 72.45 AED, plus a 5% VAT, depending on the transfer amount and destination. The exchange markup can vary but generally adds around 1.56% on top of the mid-market rate. Always compare rates to get the best deal.

Which bank gives the best exchange rate?

Banks in Dubai such as Emirates NBD and Mashreq Bank are known for offering competitive exchange rates. Depending on the services and fees, these banks often provide reliable rates compared to smaller or less well-known institutions.

What does LuLu Exchange do?

LuLu Exchange offers a range of services, including foreign currency exchange, money transfers, and other financial services. The company is popular in the UAE because of its personalized customer service, competitive rates, and extensive network of branches.

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Where is it best to exchange money?

Banks and credit unions are often the best places to exchange currency because they offer reasonable exchange rates and low fees. However, exchange houses in Dubai's major malls are also good options, especially for those seeking convenience and extended hours of operation.

What should I know before exchanging money in Dubai?

Before exchanging money in Dubai, make sure to bring identification such as a passport or Emirates ID. Compare rates between different exchange houses to get the best deal. Remember that exchange houses in malls often provide competitive rates and are open late, making them convenient options for travelers.

Can I exchange currency at Dubai International Airport?

Yes, you can exchange currency at Dubai International Airport. Each terminal has exchange counters, such as Travelex and Al Ansari Exchange, which are open 24/7. Airport exchanges are convenient for travelers arriving at any hour, but the rates might be less favorable compared to city locations.

Should I use ATMs for cash withdrawal in Dubai?

Using ATMs in Dubai is a convenient way to get local currency. ATMs are available across the city, and you can withdraw dirhams using your international card. Just be aware that your bank might charge fees for international withdrawals, so check the details before using ATMs frequently.

Is it safe to exchange money at exchange houses in Dubai?

Yes, it is safe to exchange money at exchange houses in Dubai. The UAE government regulates these institutions to ensure transparency and fair practices. Major exchange houses such as Al Ansari Exchange and GCC Exchange have earned a solid reputation for their reliability and compliance with financial regulations.

Are hotel exchange rates in Dubai good?

Hotel exchange rates in Dubai are generally not as favorable as those offered by dedicated exchange houses or banks. Hotels add a convenience fee, which results in higher rates. If possible, use exchange houses in malls or ATMs for a better deal.

What documents do I need to exchange money in Dubai?

To exchange money in Dubai, you need to present identification such as a passport or Emirates ID. Some exchange houses might also ask for contact details. It's a good idea to call ahead if you plan to use traveler's cheques, as not all exchange houses accept them.

Can I use my international card at shops and restaurants in Dubai?

Yes, international cards such as Visa, Mastercard, and American Express are widely accepted at most shops, restaurants, and hotels in Dubai. It's best to pay in dirhams to avoid any hidden currency conversion fees. Be mindful of any transaction fees charged by your bank for foreign purchases.

Why do currency exchange rates vary in Dubai?

Currency exchange rates can vary due to multiple factors, including the service fees charged by the exchange house and fluctuating global market conditions. Rates at the airport or hotels may include convenience fees, whereas exchange houses in malls might provide more competitive rates due to increased competition.

Disclaimer: The information provided in this article is intended for general informational purposes only. The details mentioned are based on the best available information at the time of publication and are subject to change without notice by the respective authorities. Readers are encouraged to consult the relevant offices directly for the most accurate and updated information.

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