Careem Pay, the fintech arm of the Careem Everything App, has expanded its international remittance service by introducing 18 new European transfer corridors.
UAE citizens and residents can now send money directly to bank accounts in Austria, Belgium, Croatia, Cyprus, Estonia, Finland, Greece, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, the Netherlands, Portugal, San Marino, Slovakia, and Slovenia.
This adds to existing transfers available to Germany, France, Ireland, Spain, and Italy.
Careem Pay had already launched transfers to key remittance destinations, including India, Pakistan, the UK, and the Philippines.
With this expansion, it extends its service to more European countries, allowing users to transfer up to AED 150,000 per transaction and AED 450,000 per month to valid IBANs.
According to Mohammad El Saadi, VP of Careem Pay,
“Sending money abroad can often be expensive, slow, and full of unnecessary complications. Many expats still rely on physical exchange houses or banks, while others search for money transfer apps that avoid high fees and delays. By expanding our remittance service, we’re offering a fast, hassle-free way to support their families, pay their mortgages, and manage personal expenses.”
The service uses SEPA transfers for EU corridors, with 80% of transactions processed in under 30 minutes.
Exchange rates are claimed to be 50% lower than banks, and Careem Plus members receive exclusive rates with no transfer fees.
Featured image credit: Careem
