Any idea how to move mid 6 figures crypto to Dubai?

[MillionCents]

I've noticed that several local online crypto exchanges like Rain, Coinmena, and BitOasis now allow you to send USDT, convert it to AED, and withdraw it to your local bank account. Over the past six months, I transferred about 500,000 AED this way without encountering any issues with my bank. The only exception was with BitOasis, which recently asked for the source of my funds, but the issue was quickly resolved.

It seems that banks no longer raise concerns when transfers are done through local companies like Coinmena LLC. However, they are still wary of receiving funds from exchanges like Binance or OKX. Is this the case? Are banks generally more comfortable with local exchanges? What is your experience?

I look to move $2M in USD. Thinking about buying properties with manager cheques, do you think people that bought with these cheques will face trouble in future ? Example by buying a villa with a cheque through a third party such as coindesk ? What do you think. Is the best way to transfer from local exchanges to bank, from bank to property. Or the direct way via a third party to cheque to property?

 

[diro]

Have no problems to send from Kraken to Wise it works fantastic.

So I can send from Revolut to Wise and back again, no problems with the two EMI's.

 

[W Fish]

Have no problems to send from Kraken to Wise it works fantastic.

How long have you been doing this? Have you also done Wise -> Kraken?
Wise has in its terms of use that payments for any crypto are not allowed.
OK; seems things have changed and now they allow payments from regulated exchanges except Binance
https://wise.com/help/articles/2932118/incompatible-accounts-and-payments
Payments to exchanges, or to purchase crypto are still forbidden.
https://wise.com/gb/legal/acceptable-use-policy-eea

 

[diro]

Have done it for years... no problem. Always kraken to Wise.

 

[PinkCat]

I've noticed that several local online crypto exchanges like Rain, Coinmena, and BitOasis now allow you to send USDT, convert it to AED, and withdraw it to your local bank account. Over the past six months, I transferred about 500,000 AED this way without encountering any issues with my bank. The only exception was with BitOasis, which recently asked for the source of my funds, but the issue was quickly resolved.

It seems that banks no longer raise concerns when transfers are done through local companies like Coinmena LLC. However, they are still wary of receiving funds from exchanges like Binance or OKX. Is this the case? Are banks generally more comfortable with local exchanges? What is your experience?

I look to move $2M in USD. Thinking about buying properties with manager cheques, do you think people that bought with these cheques will face trouble in future ? Example by buying a villa with a cheque through a third party such as coindesk ? What do you think. Is the best way to transfer from local exchanges to bank, from bank to property. Or the direct way via a third party to cheque to property?

To me it seems like banks are more comfortable with locally regulated exchanges. Add m2 to that list.
Which UAE bank did you use to receive 500k from crypto? I will need soon to do the same.

Have done it for years... no problem. Always kraken to Wise.

what kind of amounts broski?