Accounts in four currencies
Hold GBP, EUR, USD and AED, each with its own account details, so you can get paid like a local.
- Named account details
- Receive from customers, platforms and partners
- One overview of every balance
Payments
SendReceivePay
A money transfer moves money from one account to another: to a supplier, to staff abroad, or between your own accounts in different countries. With uTransact you can send and receive GBP, EUR, USD and AED through local payment systems and international SWIFT payments, with the fee shown before you confirm.
What you get
Everything you need to move money across borders, in one account.
Local and international payments
We use local payment systems where they are available and SWIFT for everything else, so your money takes the most suitable route.
- Local UAE payments, SEPA and UK Faster Payments
- SWIFT international payments
- Status tracking for every payment
Batch payouts
Pay many suppliers or staff in one go, from a single file, list or API call.
- Pay many recipients at once
- Approvals for business teams
- Clear reporting afterwards
Clear, upfront fees
Payments in and out are a percentage of each payment, set by your industry and your monthly volume.
- Fee shown before you confirm
- No onboarding fee
- Indicative quote before you apply
Please note. uTransact is not a bank. Accounts and payment services are provided through regulated partner financial institutions, and client money is held with those institutions, not by UQG Ltd.
How it works
Add a recipient
Enter the name and bank details of the person or business you are paying.
Choose the amount
Pick the currency and amount, and see the fee and exchange rate.
Confirm
Check the details and approve the payment.
Track it
Follow the payment's status until it arrives.
Questions
See all fees on our pricing page, or talk to the team.
How long does a transfer take?
Local payments usually arrive the same or next working day. International SWIFT payments usually take one to three working days, depending on the countries and banks involved.
Which currencies can I send and receive?
You can hold, send and receive GBP, EUR, USD and AED. Payments in other currencies can be arranged with our team.
What do I need to send money?
The recipient's full name and bank details, such as their IBAN or account number and the bank's SWIFT/BIC code, and the reason for the payment.
Is my money safe?
Accounts are provided through regulated partner financial institutions, and every payment goes through our security and anti-money-laundering checks. uTransact is not a bank.
Clients join uTransact through one uQualify application. We qualify and match you, and when UQG direct is the best fit, you are offered uTransact.