A company in the UAE sends dirhams, dollars or euros to an agent from our pool. We select the agent to suit its bank and the contract currency. Roubles arrive in your account, and you see the rate and the fee in the payment order before the transfer.
Estimate the minimum fee
The final fee and rate are fixed in the payment order
Minimum amount: 10,000 USD or equivalent
This is a minimum, not an offer or a rate lock. The final figure depends on the country, amount and the banks involved and is fixed in the payment order.
Request a quoteThe Emirati company pays an invoice that carries the agent's details. The agent receives the currency, converts it at the rate in the payment order and sends roubles to your Russian bank. You do not need to open an account in the Emirates.
A bank in the Emirates asks about the buyer's license, the end recipient and the route of the goods. We work out the answers with you before the transfer. We put together the set for your currency control ourselves.
3 business days
That is the crediting period set in the agency agreement. The rate and the fee from the payment order are known before payment, so the rouble amount will not come as a surprise.
Buyers in the UAE are mostly trading companies. They buy Russian goods and sell them on: to the Persian Gulf countries, Asia and Africa. This is how metals, grain and food products, fertilizers, sawn timber and equipment are traded.
Many of these companies are registered in free economic zones. Each has a trade license listing its permitted activities, and the bank checks the goods against it. If a firm licensed for electronics pays for grain, the transfer will stall.
Ask the buyer to prepare a short note for its bank in advance: what the goods are, where they come from, where they go next and who the end recipient is. Banks in the Emirates ask these questions often, and it helps when the answer is already on file.
The Emirati side needs a basis for paying the agent rather than you. Sign a supplementary agreement to the contract that names the agent and gives its details. We will send you the text.
The dirham is pegged to the dollar, so the buyer usually does not mind which one it pays in. For you, the difference is which agent will accept the currency now and how it will convert it. Fix the currency in the contract, and we will select the agent to match it.
Money from the Emirates is usually delayed not by the route but by checks at the buyer's bank. These are the situations we see most often.
The bank will not process the payment if the goods are not among the buyer's licensed activities. Ask for a copy of the license before signing the contract.
For re-exports, the bank wants to know to whom and to which country the goods will go. The buyer answers with documents, preferably before the transfer.
When a related company of the buyer sends the money, you need an agreement on the change of payer between you, the buyer and that company. Without it, your bank will not link the incoming payment to the contract.
During Ramadan, banks work a shortened schedule, and on public holidays they close. Plan a large payment in those weeks with time to spare.
We read the bank's reply. If the deal is lawful, we take an agent whose route this bank accepts. If another lawful route is needed, a lawyer reviews it first.
from 0.4%
minimum fee for receiving dirhams, dollars and euros
The final rate depends on the currency, the Emirati bank, the amount and the selected agent. We enter the figure and the rate to the rouble in the payment order before the buyer sends the money. There will be no separate invoice from VEDmost: the agent pays the broker.
Send us the agent's terms. We will work out what you actually pay in FX markup, fee and fixed charges, and look for a lower-cost option in our pool. If there is none, we will tell you plainly.
Not for the transfer itself. What matters is that the goods fit its license and that the contract states its exact name and address in the zone.
If the deal is lawful, this is normally not an obstacle. The bank will ask who the end recipient is. The buyer answers with documents; we will tell you which ones.
Yes, if the contract says so. Each part goes under its own payment order, with its own rate and fee.
Document a change of payer in a three-party agreement. A lawyer reviews it before payment; otherwise your bank will have nothing to link the incoming funds to.
3 business days after the currency reaches the agent, under the agency agreement.
Describe the deal: the buyer's country, currency and amount. We'll reply with a proposed route and terms. We name the agent in advance, and the rate and fee go into the payment order before the buyer pays.