How to Send Money to Qatar | Best Money Transfer Services
Qatar is an Asian country with a population of around 2.6 million and over 85% of expats. It's not surprising international transactions to and from the country are a common occurrence. If you are looking for the best ways to send money to Qatar, stick to international money transfer services.
Providers like Remitly, Western Union, and TransferGo can transfer money to Qatar quickly and easily. In this article, we'll review the top money transfer services, but also other alternatives available. You'll also learn about factors worth considering before sending money to Qatar, so start reading to ensure everything goes smoothly!
How to Send Money to Qatar Using a Money Transfer Provider?
The process of sending money to Qatar by using an online money transfer service is simple. To transfer money you only need to follow these three steps to execute a transaction!
Step 1: Compare Providers to Find the One That Best Fits You
Step 2: Sign Up with the Chosen Provider
Step 3: Transfer the Money
How to Send and Receive Money in Qatar?
The latest information available indicates that USD 651.6 million was sent as personal remittance to Qatar in 2020. A generous selection to send and receive money is important, and that's what's available when you transfer money to Qatar.
Ways to Send Money to Qatar
People who want to transfer money can pick from multiple options. The idea is to choose the simplest and fastest option to send money that won't cost a fortune. Here's a detailed analysis of all sending money methods available to transfer money and relevant factors that could affect your decision!
Money Transfer Services
International money transfer platforms (MTPs) offer their services online (and rarely offline). Send money online to Qatar via these internet-based services is fast, simple, and safe.
To transfer money you just sign up for an account and verify your data in accordance with KYC and other relevant anti-money laundering programs. MTPs obtain the necessary licenses and stick to the latest security standards to ensure they run a safe and legit business.
Send money online to Qatar is available via debit and credit cards, e-wallets, cash, bank transfers (if you have a bank account), and other methods. You can send money online to the receiver's disposal in minutes. Money transfer services like Remitly and Western Union offer fast money transfers that only take a couple of clicks. Using money transfer operators to send money online has simplified moving money to Qatar and made it more affordable, ensuring it's the best option for senders worldwide.
Many call this the old-fashioned approach, and it's a fact wire transfers aren't as popular as before. They require heading to the financial institution and paying a hefty fee. On top of that, it could take days before the money becomes available.
Providers that make international money transfers make the process of sending money to Qatar easier since they only require filling out a simple form. Money transfer operators are always more affordable and often faster than wire transfers, making them a better option when you transfer money to this country.
Bank Account Transfers
Qatar National Bank, Commercial Bank of Qatar, and Doha Bank are among those processing bank account transfers in the destination country. Bank transfers are reliable, but they are slow and expensive. If you already have a bank account, you may know what possibilities you have.
These financial institutions offer exchange rates that are far worse than when using international money transfer services. Unlike bank transfers, international money transaction platforms rarely take more than a business day to transfer money. They are more affordable, so it makes more sense to use an MTP available in your area.
Challenger banks also go by the name "neobanks." These are fintech institutions focusing on digital banking services and online bank transfers, such as Ahli Bank Qatar or Dukhan Bank. But international transactions are rarely the priority for these money transfer services, also you may need to create a bank account.
There's the question of the neobanks' solvency, too. If you send large sums to Qatar, it's better to stick to international money transfer providers. MTPs will likely be more affordable and much faster, so it's a wise decision to pick them over neobanks.
Mobile Apps and Payment Services
Vodafone iPay is an e-wallet allowing mobile payments in Qatar. But while these are convenient for domestic payments, they often aren't available for international transactions.
Many MTPs have mobile apps that will cover you when sending money on the go. The great thing about mobile apps is they are free and suitable to use on almost any portable device running Android or iOS.
PayPal is a payment service offered in over 200 regions and countries. However, only Qatar National Bank is the company's partner in the country. So while you can send from any location where PayPal is available, the receiver must have a bank account to collect the money.
Additionally, PayPal transfers are expensive and come with unfavorable exchange rates. Combine that with more sending and receiving options available, and it's clear why international money transfer platforms are a better choice.
Money Transfers to a Pick-Up Location
These involve sending cash from an agent, such as a nearby store or the service's branch. Some MTPs, such as Western Union, also offer this service. But this is inconvenient for large sums because you want to avoid having a lot of cash on you for safety reasons.
Pick-up locations tend to offer worse rates than online money transfer services. Even if it's the same international money transaction provider, it's better to use the web-based service.
What Do You Need to Send Money to Qatar?
Once you have picked the desired payment service, here's what you'll need to send money to Qatar:
Picking the preferred deposit method. You need to have sufficient funds, too, and that depends on how much you want to send and the applicable fees.
ID confirmation. It's enough to provide a valid ID card or passport with a photo.
Recipient's details. Depending on the provider and method, you'll need the receiver's name, address, phone number, and/or bank account info.
Proof of funding. It's usually only necessary for large transactions. Salary statements, property sale contracts, and any other relevant documents could prove you obtained the money legally.
What Are the Ways of Receiving Money in Qatar?
The most common option to receive money in Qatar includes a cash collection, but here is a quick overview of both available alternatives!
Location Pick Up
This method includes the collection of cash at the provider's agent. The receiver will need to head to that location and pick up cash.
While this method is common and fast, there's the matter of safety. It's only possible to collect all money at once, so the receiver might end up with a huge amount of cash in their possession, which could pose a theft risk if not handled with caution.
If you are sending money for your own trip to Qatar, you can choose the cash pickup option and select the closest store.
Direct Bank Deposits
If the receiver has an account with a local bank partnered with the MTP you used, you can send money to that account. The advantages include the receiver can collect the sum in portions, whether via an ATM or by visiting the bank.
What Do You Need to Receive Money in Qatar?
It's best to discuss with the receiver on the payment method they prefer. You should mention the documents they might need, which include:
ID verification. Just like you, they'll need a valid ID issued by the local government within the expiration date.
Transaction details. Some money transfer services require transaction reference numbers. TRN should be obtained by the sender and sent to the receiver.
Sender details and transfer purpose. This doesn't happen often, but the destination institution might require extra info on the sender from the receiver, as well as specifying transfer type and purpose.
Top Money Transfer Providers to Send Money to Qatar
The best money transfer platforms to transfer money to Qatar bring the best combo of speed and affordability while remaining 100% reliable. You can't go wrong with the following money transfer services!
Remitly – Best for Large Amounts
Remitly offers Standard and Express transfers, but they depend on the payment method. The money transfer service offers guaranteed delivery times, or it'll give up its processing fee. Remitly offers a promotion rate for new customers, along with the no-charge first transfer. You can easily deposit funds using your bank account, credit card, or debit card.
Same transfer fees for all sending amounts
Fast online money transfers every day
Sending money is simple via the website and app
Sending limits to depend on the membership tier
No way to see available sending methods before you register
3 Steps to Start Using the Provider
Start from the sending money to Qatar page on Remitly's website.
Sign up for an account via the site or download the app.
Finalize the transaction by entering the necessary parameters
Ria Money Transfer, Key Currency, PayPal
Western Union – Best for Favorable Exchange Rates
Western Union is available in over 200 countries, including Qatar. It supports sending money to the Qatar US Military Base, and you can track online money transfers in real-time. The money transfer service offers free apps for Android and iOS to send money on the go. The maximum sum to send per transfer is USD 5,000.
Card transfers available in minutes
An option to send money from a nearby store
A loyalty program for frequent customers
Bank account transfers can take up to four business days
Transfer fees are high after the first transfer
3 Steps to Start Using the Provider
Use the Western's Union web form to send money to Qatar.
Enter the parameters and check the fees.
Complete the transaction.
PayPal, Key Currency, Ria Money Transfer
TransferGo – Best for Sending USD
TransferGo is a popular choice for sending money to Qatar from European countries and the UK. The money transfer service has a refer-a-friend bonus and mobile apps that work flawlessly. Everything is transparent, and there are no hidden fees, so you can see the entire transfer overview before finalizing the transaction. Thanks to TransferGo mobile apps, you can send money online while on the move.
Multilingual support team
Fast transfer process
Favorable exchange rates
Transfers take longer than with the competition
A restricted number of countries to send money from
3 Steps to Start Using the Provider
Visit TransferGo's website.
Enter the sending and receiving countries and currencies.
Adjust the amount and finalize the transaction
PayPal, Ria Money Transfer, key Currency
What Are the Fastest Ways to Send Money to Qatar?
Sending money via international money transfer services can be fast, but the speed depends on several factors. Those are the deposit method used and the platform's and receiving institution's processing times. Here are the best choices to send money online to Qatar fast!
Most money transfer services will process debit and card transfers in minutes. Some have Standard and Express methods, and the faster one might come with additional fees. You'll find MTPs offering estimated delivery times, and they honor those timeframes in most cases.
What Is the Cheapest Way to Send Money to Qatar?
International money transfer services can impose processing or transfer fees, but they also earn from exchange rates. They are below the mid-market level, so the trick is to find MTPs offering the most favorable rates when sending money. Here's the list of the cheapest options to send money to Qatar!
Many money transfer services welcome users with promotional exchange rates or no-fee first transfers. Apart from new customers, some MTPs have loyalty programs and benefits for loyal users. The fees also depend on deposit methods and transfer speed options, and these can all contribute to spending less when you send money to Qatar.
What Is the Safest Way to Send Money to Qatar?
Moneyzine only recommends money transfer services that run a legit business and have been approved by Qatar's authorities. Most money transfer services also have certificates from FCA and international financial bodies. Many MTPs add extra security options for users to feel safer, and here is the list of those going the extra mile in this department!
Some platforms use separate accounts to keep clients' money, while others employ multi-level security to keep funds and sensitive data protected. Many international money transfer providers have customer service available 24/7 and a hotline to report if you suspect anything has gone wrong with the transaction!
What Are the Best Apps to Send Money to Qatar?
For international money transfer platforms, having a smartphone app and mobile-friendly website has become a matter of following the latest trends. While they all offer availability to send money to Qatar on the go, here are the top apps currently available!
The apps themselves are free and available for iOS and Android. You can use the same credentials, deposit methods, and benefits. It's vital to stick to apps that work smoothly since you don't want them crashing in the middle of the process of sending money.
Things to Consider When Sending Money to Qatar
QAR is the default Qatar currency, but a few platforms also allow sending USD. Once you pick the Currency to send, here are other considerations before finalizing the transaction!
The local government takes anti-money laundering seriously, and they've invested a lot in counter-terrorist financing, too.
Here is a quick list of important financial authorities in Qatar:
Qatar Central Bank. QCB is the central bank with the objective of controlling and supervising financial institutions.
Qatar Financial Markets Authority. The task of supervising and regulating financial markets is given to QFMA.
Ministry of Transport and Communications. It's worth mentioning since it monitors whether everyone honors the Qatari Personal Data Protection Law.
How Much You Are Sending Abroad
Large transactions might attract the attention of relevant authorities in Qatar and the country you want to send money. For example, the United States requires reporting transactions over USD 10,000.
International money transfer platforms require verifying your account before you send money to Qatar. If sending large sums, you might need to provide proof of source. Apart from that, many MTPs have daily or monthly sending limits. As long as you do everything by the book, you won't have any problems regardless of the sum sent to Qatar.
The Cost of Money Transfers
Transfer cost depends on several factors, including the payment method and the transfer providers. Debit and credit cards offer faster transfers, but they might come with additional fees.
Some MTPs offer to send money online by depositing cash in stores, but the rates are usually unfavorable compared to the same online money transfer service. Depending on the provider, the transaction fee might depend on the sum. Some services give up on their fees for a large sum, while others increase their charge.
Payment Type and Reason for the Transfer
Qatar is the host of many sports events, with the most famous being the 2022 World Cup. You might be sending extra money to someone in the country during these events. Perhaps you intend to invest, or you are sending a gift to a family member.
Personal transactions are the most common reason to send money to Qatar. But international money transfer platforms also offer business transactions. These are separate categories due to different regulations, so you'll need a business account.
Safety and Security of the Provider
It's a huge risk to use unregulated providers. That's why Moneyzine always checks that the recommended MTPs have the necessary licenses for relevant markets. The international money transfer platforms mentioned on this page all do business in Qatar legally.
Online MTPs shouldn't underestimate the security factor either. Multi-level protection and reliable security layers minimize the risk of data breaches and maximize the provider's reputation.
Tax Regulations in Qatar
The great news for all individuals who want to send money is that there's no applicable income tax in Qatar. Residents don't need to pay taxes on wages, salaries, or allowances. However, if any of the money sent from abroad is related to commercial activities, there's a 10% tax.
Although Qatar doesn't impose local taxes, expats might still need to pay those to their home countries, which is something to mention to the receiver. As the sender, you shouldn't worry about paying taxes when you send money to Qatar. The only consideration is whether you need to report the transaction to local authorities, which is best to check with a tax expert.