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Bank Account - Savings without Visa

Bank Account - Savings without Visa

Old Sep 17th 2007, 2:47 pm
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Default Bank Account - Savings without Visa

Hello all,

I am having trouble getting HSBC to tell me exactly what is needed to get a bank account when you dont have a visa, I have been told four different things on four different occasionsand I am getting rather perplexed, I was hoping somebody could shed some personal experience on this for me..?

This is what I was told I need:

1. Must deposit 5000 AED
2. Need 2 x Passport photos
3. Letter from your employer commenting on your personality (?)
4. Letter from your European bank, sent via post, to HSBC stating that you are a good customer
5. Original Passport

Everytime I call I get a different story, however I have been told points 1,3,5 on two seperate occasions after pressing for a response and personally visiting the bank. Has anybody done this and know what actually works?

I am in a bit of a pickle as I need to get a bank account ASAP for my company to transfer funds to pay my rent (due next week)...

Thanks,

M
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Old Sep 17th 2007, 2:53 pm
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Default Re: Bank Account - Savings without Visa

Get a cash advance against salary from your employer. It is illegal to withold wages. Only the bank can tell you what you need. Your company HR can tell you what you usually need. Don't bring up the subject of not having a visa. All of the requests look normal to me and they may also ask for a copy of your rental agreement. The character reference is a little unusual but I think you are mis-describing what is needed.
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Old Sep 17th 2007, 3:22 pm
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Default Re: Bank Account - Savings without Visa

Originally Posted by twisty100 View Post
Hello all,

I am having trouble getting HSBC to tell me exactly what is needed to get a bank account when you dont have a visa, I have been told four different things on four different occasionsand I am getting rather perplexed, I was hoping somebody could shed some personal experience on this for me..?

This is what I was told I need:

1. Must deposit 5000 AED
2. Need 2 x Passport photos
3. Letter from your employer commenting on your personality (?)
4. Letter from your European bank, sent via post, to HSBC stating that you are a good customer
5. Original Passport

Everytime I call I get a different story, however I have been told points 1,3,5 on two seperate occasions after pressing for a response and personally visiting the bank. Has anybody done this and know what actually works?

I am in a bit of a pickle as I need to get a bank account ASAP for my company to transfer funds to pay my rent (due next week)...

Thanks,

M
HSBC/Emirates Bank for ex pats are the better ones. Under normal circumstances all you need is a passport copy (usual stuff), salary certificate, copy of employment contract plus copious passport sized pics. That should be sufficient to open the account. The account will not be active until the first salary cheque goes in.....
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Old Sep 17th 2007, 3:45 pm
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Default Re: Bank Account - Savings without Visa

Originally Posted by oktoberon View Post
HSBC/Emirates Bank for ex pats are the better ones. Under normal circumstances all you need is a passport copy (usual stuff), salary certificate, copy of employment contract plus copious passport sized pics. That should be sufficient to open the account. The account will not be active until the first salary cheque goes in.....
Account Opening Form
For a savings/call account you do not have to be a resident/i.e no need of residence visa/employment contract. Residence Visa only required for current accounts (with checking facility)
Passport copy, original passport for verification.
Photographs not required for Lloyds/EBIL/NBD/RAKBANK- unless you're illiterate
If you intend to deposit large amounts of dosh - banker's references/previous bank account statements/source of wealth - just to ensure you're not dodgy and don't use your account to launder money.....
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Old Sep 17th 2007, 3:49 pm
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Default Re: Bank Account - Savings without Visa

Originally Posted by IndieGirl View Post
Account Opening Form
For a savings/call account you do not have to be a resident/i.e no need of residence visa/employment contract. Residence Visa only required for current accounts (with checking facility)
Passport copy, original passport for verification.
Photographs not required for Lloyds/EBIL/NBD/RAKBANK- unless you're illiterate
If you intend to deposit large amounts of dosh - banker's references/previous bank account statements/source of wealth - just to ensure you're not dodgy and don't use your account to launder money.....
Great, so for a savings account in any other bank from HSBC, I just need the passport copy and nothing else?
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Old Sep 17th 2007, 3:53 pm
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Default Re: Bank Account - Savings without Visa

Originally Posted by twisty100 View Post
Great, so for a savings account in any other bank from HSBC, I just need the passport copy and nothing else?
Right - will send you a pm.
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Old Sep 18th 2007, 7:01 am
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Default Re: Bank Account - Savings without Visa

are there actual savings accounts here? The ones i saw were the same (i.e. measly) rate of interest as a current a/c, the only difference being lack of ATM card...
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Old Sep 18th 2007, 1:02 pm
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Default Re: Bank Account - Savings without Visa

Very poor rates......you don't get a cheque book with a savings account here
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Old Sep 18th 2007, 2:48 pm
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Default Re: Bank Account - Savings without Visa

Originally Posted by jvr20 View Post
are there actual savings accounts here? The ones i saw were the same (i.e. measly) rate of interest as a current a/c, the only difference being lack of ATM card...

Put your money in an offshore account. I don't know why anyone would keep more than day to day expenses in a UAE account.
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Old Sep 18th 2007, 2:50 pm
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Default Re: Bank Account - Savings without Visa

Originally Posted by Meow View Post
I don't know why anyone would keep more than day to day expenses in a UAE account.
Why not? I keep it in my bank.....get pretty good rates

HSBC is currently paying 6% on their super-saver AED account.
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Old Sep 18th 2007, 6:31 pm
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Default Re: Bank Account - Savings without Visa

HSBC esaver pays 6% and the term deposit accounts pay between 5 and 6 %.

Unless you have a very large amount of money these rates are the best youa re going to get without doing some funny deals.
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Old Sep 18th 2007, 6:32 pm
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Default Re: Bank Account - Savings without Visa

Also,

You should be able to open a current account at HSBC without your residence visa but you just won't get a chequebook until you have given a copy to them (central bank requirement).
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Old Sep 19th 2007, 5:16 am
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Default Re: Bank Account - Savings without Visa

Originally Posted by IndieGirl View Post
Why not? I keep it in my bank.....get pretty good rates

HSBC is currently paying 6% on their super-saver AED account.

Not about rates. Sharia Law

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Old Sep 19th 2007, 6:58 am
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Default Re: Bank Account - Savings without Visa

Aha.

Yes, Meow has a very good point.

She either means that because usuary is illegal then it is difficult to reconcile receipt of interest.

Or she means that it is not just about interest rates but also about exchange rates too.

Or she asks us to consider what would happen if something happened to the Banking system and if there are more sources of intervention possibly in the region than offshore.

I must say that has caused me to rethink.
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Old Sep 19th 2007, 1:27 pm
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Default Re: Bank Account - Savings without Visa

Originally Posted by Meow View Post
Not about rates. Sharia Law


Sharia Law, as far as inheritance is concerned, only applies to muslims. If you are a non-muslim, then the law of your country applies (not sure what happens if you're from an Islamic country though). If there is no Will, then you'd have to get a probate, get it legalised and the Bank releases your funds.

Best to keep the money in your wife's name
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