New! Careem Pay expands remittance service to 18 European corridors

Careem Pay, the fintech arm of the Careem Everything App, expanded its international remittance service with the addition of 18 new European corridors.

The new service allows UAE citizens and residents to send money instantly to bank accounts across several European nations.

The newly added European corridors include: Austria, Belgium, Croatia, Cyprus, Estonia, Finland, Greece, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Portugal, San Marino, Slovakia, and Slovenia.

This complements Careem Pay’s existing remittance service to Germany, France, Ireland, Spain, and Italy.

Careem Pay’s high-demand remittance corridors

Previously, Careem Pay introduced money transfers to high-demand remittance corridors, including India, Pakistan, the UK, and the Philippines. With the latest expansion, the service now extends to additional EU countries, making it easier for UAE residents to send money across borders.

As the UAE continues to be a top destination for wealthy migrants, particularly from the UK and Europe, Careem Pay’s expansion addresses the financial needs of a growing expatriate population.

Speedy and seamless services

The service aims to simplify financial transactions by providing fast, secure, and seamless international money transfers. Customers can send up to Dhs150,000 per transaction and Dhs450,000 per month to any valid IBAN within the newly added corridors.

Careem Pay says it processes an average of eight out of 10 EU transfers in under 30 minutes.

Mohammad El Saadi, VP of Careem Pay, said, “Sending money abroad can often be expensive, slow, and full of unnecessary complications. Many expats still rely on physical exchange houses or banks to send money abroad, while others search for money transfer apps that avoid high fees and delays.

“By expanding our remittance service to cover more European countries, we’re offering customers a fast, hassle-free way to support their families, pay their mortgages, and manage personal expenses with just a few taps on their phone.”

Careem Pay’s remittance service offers competitive exchange rates, which are 50 per cent cheaper than traditional banks, and real-time processing through SEPA transfers for EU corridors.

Additionally, Careem Plus members benefit from exclusive rates and zero-fee transfers.

To make an international money transfer via Careem Pay, users can download or open the latest version of the Careem app and select ‘Send Money’ on the home screen.