Which foreign currency demand drafts is Emirates NBD discontinuing in October 2025?
Emirates NBD will stop issuing foreign currency demand drafts for 12 major currencies starting October 18, 2025. The affected currencies include USD, GBP, EUR, CAD, AUD, and seven other international currencies, impacting all bank customers across the UAE.
Existing demand drafts issued before October 17, 2025 remain valid until their natural expiry date, ensuring current holders aren’t immediately affected by this change.
What currencies are affected by Emirates NBD’s demand draft discontinuation?
The bank will cease issuing demand drafts for these 12 currencies from October 18, 2025:
Major global currencies:
- USD (United States Dollar)
- EUR (Euro)
- GBP (British Pound Sterling)
- JPY (Japanese Yen)
- CHF (Swiss Franc)
Regional currencies:
- CAD (Canadian Dollar)
- AUD (Australian Dollar)
- HKD (Hong Kong Dollar)
- SGD (Singapore Dollar)
Nordic currencies:
- SEK (Swedish Krona)
- NOK (Norwegian Krone)
- DKK (Danish Krone)
This comprehensive list covers most international currencies commonly used for overseas transactions by UAE residents and businesses.
When does Emirates NBD’s demand draft service end?
Final issuance date: October 17, 2025 marks the last day Emirates NBD will issue new foreign currency demand drafts for the affected currencies.
Service discontinuation: From October 18, 2025, the bank will no longer provide this service for the specified currencies.
Existing drafts validity: Any demand drafts issued on or before October 17, 2025 will remain fully valid and honoured until their natural expiry date.
The bank has provided advance notice to allow customers sufficient time to arrange alternative payment methods for international transactions.
How should Emirates NBD customers prepare for this change?
Emirates NBD recommends customers “make the necessary arrangements well in advance to avoid any disruption” to their international payment needs.
Alternative options available:
International wire transfers: The bank continues offering electronic international transfers through online banking and mobile app services.
DirectRemit services: Specialised remittance services remain available for specific countries with competitive rates.
Other banking products: Traditional banking products like international cheques or alternative payment instruments may be available.
Customers should contact Emirates NBD directly to discuss suitable alternatives for their specific international payment requirements.
What are the costs for Emirates NBD international transfers?
Since June 2025, Emirates NBD charges Dh26.25 (including VAT) for most international transfers made through the app or online banking platform.
Free transfer destinations:
- India
- Pakistan
- Egypt
- Sri Lanka
- Philippines
- United Kingdom (minimum Dh100 transfer via DirectRemit)
These free transfer options help maintain affordable remittance services for key markets where UAE residents frequently send money to family and business partners.
Why are banks discontinuing demand draft services?
While Emirates NBD hasn’t specified reasons, the banking industry globally is shifting towards digital payment solutions for several reasons:
Operational efficiency: Electronic transfers process faster than physical demand drafts, reducing processing time from days to minutes.
Cost reduction: Digital transactions eliminate printing, handling, and physical delivery costs associated with paper-based instruments.
Security improvements: Electronic transfers offer better tracking, reduced fraud risk, and enhanced compliance with international banking regulations.
Customer convenience: Online and mobile banking provide 24/7 access versus traditional banking hours for demand draft issuance.
How does this affect UAE expatriate communities?
The discontinuation particularly impacts expatriate communities who traditionally used demand drafts for:
Property transactions: International real estate purchases often required demand drafts for large payments.
Educational expenses: University fees and educational institution payments frequently used demand drafts for security.
Business transactions: Import/export businesses relied on demand drafts for trade finance and supplier payments.
Family remittances: Some recipients overseas preferred demand drafts over electronic transfers for larger amounts.
These communities must now adapt to alternative payment methods for their international financial needs.
What alternatives exist for international payments in UAE?
UAE residents have multiple options for international money transfers:
Digital banking: Most UAE banks offer competitive online international transfer services with real-time tracking.
Money transfer operators: Western Union, MoneyGram, and regional operators provide extensive global networks.
Fintech solutions: Digital platforms like Wise, Remitly, and local fintech companies offer competitive exchange rates.
Traditional banking: International wire transfers, banker’s cheques, and other established banking instruments remain available.
Each option offers different advantages in terms of speed, cost, and recipient convenience.
FAQ
Will existing demand drafts become invalid immediately? No, all demand drafts issued before October 18, 2025 remain valid until their original expiry date and will be honoured by recipient banks.
Are there any exceptions to this discontinuation? The bank’s notice indicates this applies to all customers uniformly, with no mentioned exceptions for specific account types or customer categories.
How long do demand drafts typically remain valid? Standard demand drafts usually remain valid for 3-6 months from the issue date, though specific terms may vary by currency and amount.
Will Emirates NBD offer any replacement services? While not specified in the announcement, customers should inquire about alternative international payment products when contacting the bank.
Do other UAE banks offer similar services? Other major UAE banks like ADCB, FAB, and RAKBANK continue offering various international payment services, though each has specific terms and conditions.
Key Takeaway
Emirates NBD’s discontinuation of foreign currency demand drafts reflects the banking industry’s shift towards digital payment solutions. Customers have until October 17, 2025 to obtain final demand drafts, with existing drafts remaining valid until expiry. Alternative electronic transfer options remain available with competitive pricing structures.
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