What does remit mean?

To remit means to send money to someone in another country, usually as a payment or support. In finance, a remittance is a transfer of money by a foreign worker to their home country. In the UAE, remittance (remit) refers to money sent by expat workers — from Indian, Pakistani, Filipino, and other communities — back to their families. The UAE is the world's 3rd largest remittance-sending country, with over $43 billion sent abroad annually. remit.ae is the UAE's independent comparison platform for all CBUAE-licensed remittance providers.

What is remittance in UAE?

Remittance in UAE refers to money transferred by expatriate workers living in the UAE back to their home countries. The UAE sends over $43 billion in remittances annually, making it one of the world's largest remittance-sending nations. The most common corridors are UAE to India (AED to INR, ~$14B/yr), UAE to Pakistan (AED to PKR, ~$6B/yr), UAE to Philippines (AED to PHP, ~$3.5B/yr), and UAE to Bangladesh (AED to BDT, ~$2.5B/yr). All remittance providers in UAE must be licensed by the Central Bank UAE (CBUAE). Compare CBUAE-licensed providers at remit.ae.

Remitly AE (Remitly in the UAE) is a digital money transfer app available in the United Arab Emirates. It is licensed by CBUAE and allows UAE residents to send money internationally — particularly to India, Pakistan, Philippines, and other corridors. Remitly offers two speed options: Economy (1-3 business days, better rate) and Express (minutes, higher fee). Compare Remitly rates versus Al Ansari Exchange, LuLu Exchange, Wise and other UAE providers at remit.ae.

What does e-remit mean?

E-remit (electronic remittance) means sending money internationally through a digital or online platform, without visiting a physical exchange house or bank branch. In the UAE, e-remit services include apps like Wise, Remitly, and WorldRemit, as well as online banking transfer portals from UAE banks. E-remit is popular among UAE white-collar workers for bank-to-bank transfers. For cash pickup and walk-in services, UAE exchange houses like Al Ansari and LuLu Exchange remain the most used. Compare all UAE e-remit and exchange house rates at remit.ae.

What is the best money transfer app in UAE?

The best money transfer app in UAE depends on your destination and priority. Wise: best exchange rate (mid-market), transparent fees, ideal for bank-to-bank. Remitly: fastest delivery (minutes via Express), good for India/Pakistan/Philippines. WorldRemit: good for mobile wallet delivery. For walk-in cash transfers, UAE exchange houses (Al Ansari Exchange, LuLu Exchange, GCC Exchange) have 200+ branches across Dubai, Abu Dhabi, and Sharjah. All must be CBUAE-licensed. Compare current rates at remit.ae — always verify final rate with your provider.

What is the best way to transfer money from UAE to India?

The best way to transfer money from UAE to India (AED to INR) depends on your priority. For the best exchange rate: Wise (mid-market rate). For walk-in with cash: Al Ansari Exchange or LuLu Exchange (200+ UAE branches each). For fastest delivery: Remitly Express (minutes). UAE exchange houses are generally competitive for amounts over AED 1,000. Compare current AED to INR rates from all CBUAE-licensed providers at remit.ae — always verify final rate directly with your provider before sending.

Which is the cheapest money transfer from UAE to India?

The cheapest money transfer from UAE to India changes daily as exchange rates fluctuate. Wise typically offers the mid-market AED to INR rate with a small transparent fee. Al Ansari Exchange and LuLu Exchange are often competitive for larger amounts (AED 1,000+) with zero transfer fees but a small FX margin. Compare all providers' total cost — rate plus fee — at remit.ae. Always verify the final rate with the provider before sending.

Is remit.ae a money transfer service?

No. remit.ae is an independent editorial comparison platform — not a money transfer service. We do not transfer money, hold funds, or act as a financial institution. remit.ae compares live rates and fees from CBUAE-licensed providers including Al Ansari Exchange, LuLu Exchange, GCC Exchange, Wise, Remitly, Western Union, and others. Always send money directly through the licensed provider you choose.

What is WPS and how does it affect money transfers from UAE?

WPS (Wage Protection System) is a UAE Central Bank mandatory system requiring all UAE employers to pay salaries electronically between Day 24-28 of each month. After WPS salary credit, demand at UAE exchange houses spikes sharply as workers send money home. Al Ansari Exchange and LuLu Exchange branches in Dubai and Abu Dhabi can have long queues during WPS week (Days 24-28). Digital apps like Wise and Remitly avoid queues. remit.ae tracks WPS timing to help UAE workers compare providers during peak remittance periods.

Axis Bank SWIFT Code — UTIBINBB for UAE to India Transfers

Axis Bank Primary SWIFT / BIC Code

UTIBINBB

Valid for all Axis Bank branches in India · formerly UTI Bank

UTIB

Bank code

Country

Location

XXX

Branch (opt)

Why Does Axis Bank SWIFT Code Show "UTIB"?

Important: UTIBINBB is the correct SWIFT code for Axis Bank. The bank code "UTIB" comes from the bank's former name — UTI Bank — before it was rebranded to Axis Bank in 2007. SWIFT codes are rarely changed once registered, so UTIBINBB remains the official BIC for Axis Bank Ltd.

If you search for "Axis Bank SWIFT code" and find UTIBINBB, you are in the right place. Do not search for "AXISINBB" — that code does not exist in the SWIFT network.

Axis Bank Branch SWIFT Codes

Branch / City	SWIFT Code
Mumbai — Head Office	UTIBINBBXXX
Delhi	UTIBINBBDEL
Chennai	UTIBINBBMAA
Kolkata	UTIBINBBCAL
Bangalore	UTIBINBBBNG
Hyderabad	UTIBINBBHYD
Ahmedabad	UTIBINBBAHM

How to Receive Money from UAE in Axis Bank

Bank Name

Axis Bank Ltd

SWIFT / BIC Code

UTIBINBB

Account Number

15-digit Axis Bank account number

Account Holder Name

Full name as on Axis account

Bank Address

Axis Bank Ltd, Axis House, Mumbai 400025, India

Best UAE Providers for Axis Bank Transfers

WiseBest rate

Enter Axis Bank account number + IFSC. Best AED→INR mid-market rate.

Review →

Al Ansari ExchangeWalk-in

Walk-in at 200+ UAE branches. Direct Axis Bank deposit in 1-4 hours.

Review →

LuLu ExchangeNo fee

Supports Axis Bank India. Competitive rates, no transfer fee.

Review →

RemitlyFastest

Express delivery in minutes to Axis Bank. Economy option for better rate.

Review →

Compare all providers for AED → INR →

Frequently Asked Questions

What is Axis Bank SWIFT code?

Axis Bank's SWIFT code is UTIBINBB. The bank code UTIB comes from Axis Bank's former name, UTI Bank (Unit Trust of India Bank), which was rebranded to Axis Bank in 2007. Despite the name change, the SWIFT code retained UTIB. The full primary SWIFT BIC is UTIBINBB, valid for all Axis Bank branches in India.

Why does Axis Bank SWIFT code say UTIB and not AXIS?

Axis Bank was previously called UTI Bank (Unit Trust of India Bank) until 2007. SWIFT codes, once registered, are not easily changed as they are embedded in thousands of banking systems worldwide. So the bank code portion of the SWIFT — UTIB — still reflects the old name. When you see UTIBINBB, that is the correct and only Axis Bank SWIFT code for international transfers.

How to receive money from UAE in Axis Bank?

To receive money from UAE into your Axis Bank account, provide the sender: SWIFT code UTIBINBB, your 15-digit Axis Bank account number, your full name as on the account, and bank address: Axis Bank Ltd, Ahmedabad, India. UAE senders using Wise, Al Ansari Exchange, or Remitly can enter these details for direct bank deposit to Axis Bank India.

Related SWIFT & IFSC Code Pages

remit.ae is an independent comparison service. SWIFT codes are provided for informational purposes — always verify with your bank before initiating a transfer. Stack Jewels LLC.