IKnowNothing

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Bounced cheque can lead to freeze on Dubai tenant's account - Emirates 24|7

Not just rent cheques....

Now i know we should say that no-one bounces cheques, but think about it, how many deposit cheques have you written?

Life can change in 1 few hours here. Just beware out there guys.

mission

best thing to do is to never keep surplus cash in your local account - I keep the bare minimum to keep me going for the month and transfer the remainder every month.

mission

ok just read the article lol - it's about the rent deposit....fortunately for me, my company pays for my rent deposit.

mission

but this decree should go both ways...ie if the landlord doesn't return the deposit within a reasonable amount of time, then he/she should also be penalised somehow.

IKnowNothing

Thin end of the wedge though, what will soon happen is, you bounce a cheque, your account is frozen.

This is already kinda happening, you open a bank account with your Emirates ID - or subsequently get it linked to your EID, then if you have (say) AED20,000 in one account, but you are indispute over another payment or credit card with another bank, the latter bank can take the cash from your account. This is what the central bank is setting up. It's a bit scary - and i applaud your tactics.

People should be aware of what could happen.

mission

Does that sh*t really happen? I didn't think the banking infrastructure was remotely that sophisticated

iggle

My account was frozen when i changed jobs.

I had over AED100k, and no access to my account for 1 month. Apprantly i was a liability to the bank. But I had no loans, no credit cards nothing.

I now have AED15k max in my account, and the day I get pay all my bills then transfer the cash over back to the UK.

IKnowNothing

Happened to an ex of mine, she had a 23k debt on a credit card that she was arguing with the bank (Let's say bank 1) over (she's a local), and she banks and her salary is in bank 2, bank 1 (actually Tasheel the debt collectors) took out the money, nothing she could do about it. She'd never given Tasheel the details of her bank (2) account.

Scary sh1t.

scrubbedexpat141

My mate's account was frozen for the same reason. Took weeks for it to get unblocked with new visa stuff etc.

It only happens though if your company tell them. I changed jobs and they said they wouldn't tell them and that as soon as new visa was sorted I was to tell the bank myself. Sorted.

iggle

We should become friends

"British Expat Forum" Friends

mission

when I moved here back in 2008, I opened an account with LloydsTSB, since I bank with them back in the UK (Lloyds out here got taken over by HSBC a few yrs ago).


The guy who opened my account, explicitly told me not to keep any surplus cash in the account over here, because at the end the day, you have no control over it ie the gvt and the bank can have access to your account virtually any time they want.


I always keep what I need from month to month and transfer the remainder to my UK account.