As per directive from UAE Central Bank, all inter bank local transfers denominated in AED will be routed through UAEFTS post 14th April 2012. To understand more on the implications of this change, you are requested to go through the below FAQs.What is UAEFTS?
What is the benefit of UAEFTS?
Is there any change in the TT application form?
Can the existing TT application form be used for AED payments?
Will the transfer be affected if the beneficiary name and IBAN does not match as per
beneficiary Bank's records?
Is IBAN mandatory post 14th April 2012?
Will the above be also applicable for Standing Instructions
effecting local AED payments within UAE?
What additional information is required from the customer?
What are the various "TRANSACTION TYPE" mandated by UAE Central Bank to be used for
remittance originating from Individual accounts?
What are the various "TRANSACTION TYPE" mandated by UAE Central Bank to be
used for remittance originating from Business accounts?
What if the above details with respect to TRANSACTION TYPE are not provided by the
Can TT requests be submitted over letter head of the company?
For further details on this, you are requested to visit your nearest Emirates NBD branch or contact your Relationship Manager.