Careem Pay launches international remittance to the UK

 Careem Pay launches international remittance to the UK

• 240,000 British expats reside in the UAE; the UK is currently the largest remittance corridor in terms of average value per month.
• With competitive foreign exchange rates, customers can transfer up to AED 45,000 in a single transaction and up to AED 135,000 monthly.

• Careem Pay also provides remittance to India and Pakistan. One customer sent $93,217 to Pakistan throughout 2023.

Dubai, UAE – April 22, 2024: Careem Pay, the digital wallet and fintech platform within the Careem Everything App, expands its international remittance services to include ‘Faster Payments’ to the United Kingdom for residents of the UAE.

Careem Pay enables customers, Captains, and business owners to manage their money, settle bills, and make seamless transactions both within and beyond the app. The Careem Pay international remittance service to India and Pakistan has been adopted by expats across the UAE. One customer sent $93,217 to Pakistan throughout 2023.

The new UK remittance service enables customers in the UAE to send money to UK bank accounts in a matter of minutes using just the recipient bank account number and sort code, or the IBAN. With competitive foreign exchange rates, customers can transfer up to AED 45,000 in a single transaction and up to AED 135,000 monthly.

Mohammad El Saadi, VP of Careem Pay, commented: “Careem Pay’s purpose is to simplify and increase access to financial services for people across the region. We were thrilled to see our remittance services to Pakistan and India enable so many of our customers and Captains in the UAE to send money back home within minutes, and we are excited to now extend this service to another significant segment of the UAE population with near-instant money transfers to the UK.”

“Our UK remittance service will be particularly helpful for anyone who makes consistent transfers to the UK, be it to support families back home, make mortgage payments or contribute to other personal investments.”

There are approximately 240,000 British expats residing in the UAE as of 2023. The UK received over $2.9 billion from the UAE in less than one year. 

To initiate an international transfer, customers can download the Careem app and select the Global transfer button within the Careem Pay section. Customers can open or download Careem from the  App Store, Google Play, or via direct Android download.

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