For millions of UAE residents, sending money home is a regular part of life. Traditionally, this meant visiting exchange houses, paying higher fees, and waiting days for transfers to clear.
Today, fintech platforms like NOW Money and Rise are transforming the remittance experience with mobile-first solutions that focus on speed, convenience, and accessibility.
These platforms are especially popular among migrant and low-income workers, offering easier access to digital accounts and affordable international transfers.
By cutting out traditional intermediaries and using modern payment rails, fintechs provide a faster, more transparent alternative to long-established remittance methods.
1. Lower costs: fees and exchange rates
Reduced transfer fees
Fintech platforms operate with lower overhead costs because they rely on digital infrastructure rather than physical branches. This allows them to charge:
- Significantly lower transaction fees
- Zero-fee transfers on certain routes
- More predictable and transparent pricing
For frequent users, these savings can make a noticeable difference over time.
Fewer intermediaries
Traditional wire transfers often involve several correspondent banks, each taking a small fee along the way. Fintechs bypass most of these middle layers by building direct digital partnerships, resulting in:
- Lower costs
- Fewer delays
- Reduced risk of unexpected deductions
Competitive and transparent exchange rates
Digital remittance apps typically offer exchange rates closer to the mid-market rate. They also display all fees upfront and show the exact amount the recipient will receive before confirming the transaction.
This level of clarity helps users make informed choices and avoid hidden charges.
2. Convenience and speed: remittances without queues
Mobile-first experience
Fintech platforms are designed for smartphone users, offering:
- Remittances directly through mobile apps
- Digital account access without paperwork
- Full service availability 24/7
This eliminates the need to travel to a physical branch or wait for traditional banking hours.
Faster transfer times
Many fintechs process transfers in minutes, especially along popular corridors.
Users also receive instant notifications when money is sent or delivered, making the process more predictable and reassuring for both sender and recipient.
3. Expanding financial access for underbanked workers
A major advantage of fintechs like NOW Money and Rise is their focus on groups historically underserved by traditional banks.
NOW Money: financial access for low-income workers
NOW Money offers digital accounts to workers who may not meet minimum salary requirements for traditional banking. Through the app, users can:
- Receive their salary
- Hold a digital account and debit card
- Send money home at competitive rates
- Access financial services without needing a bank branch
This is especially valuable for workers who have limited mobility or irregular schedules.
Rise: digital remittances built for migrants
Rise focuses specifically on migrant communities, providing tools that help workers manage money in the UAE and support families in their home countries. Its products include:
- Digital remittance services
- Tools for shared financial access
- Features designed for families relying on regular transfers
This makes it easier for users to handle everyday financial needs and long-distance responsibilities.
4. Transparency and control for every transaction
Upfront visibility
Fintech remittance apps typically display:
- Transfer fees
- Exchange rate and margin
- Delivery estimate
- Final amount the recipient receives
This reduces uncertainty and eliminates the hidden fees that can appear in some traditional transfer models.
Clear tracking and notifications
Users can monitor each transfer step directly in the app, including:
- Payment initiation
- Processing updates
- Final confirmation of receipt
This level of tracking gives senders and recipients more confidence and planning ability.
5. What UAE residents should consider before choosing a remittance app
Even though fintechs offer strong advantages, it is important for users to evaluate each platform carefully.
Compare full pricing
A “zero fee” transfer may still come with a poor exchange rate. Always compare:
- Total transfer cost
- Actual amount the recipient will receive
- Exchange rate margin
Verify credibility
Choose platforms that operate transparently and hold partnerships with regulated financial institutions in the UAE or abroad.
Prioritize security
Before using an app, ensure it includes:
- Two-factor authentication
- Secure login systems
- Protection against unauthorized access
Understand limitations
Not all platforms support every country or corridor. Transfer speed, limits, and costs can vary depending on:
- Destination country
- Payment method
- Local banking infrastructure
Fintechs like NOW Money and Rise are significantly improving the remittance experience in the UAE.
By offering lower fees, faster transaction times, mobile-first access, and transparent pricing, they provide a more convenient alternative to traditional money transfer methods.
For residents who regularly send money home, these digital platforms can simplify the process, reduce costs, and expand financial access—especially for workers who have historically faced barriers in the banking system.