Banking advice

Old Jun 1st 2012, 4:58 am
  #16  
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Default Re: Banking advice

Originally Posted by Idtbrian
I've been following many threads over the past few months and I have also done some research relating to banking in the UAE (Abu Dhabi).
If I understand your advice correctly I need to keep a working balance in my current account for living expenses, set up an offshore account (if appropriate) and should I keep a smallish amount of money in cash should the wheel fall off and I need to make myself scarce for whatever reason? not that I'm planning anything insulting to anyone. The reason for this is that I have heard of workers having made serious cultural mistakes and have jumped ship before getting into serious trouble.
I bank with Barclays here in the UK and having spoken with their International Banking division I wasn't overly impressed. Maybe they weren't interested in the amount of money I am hoping to save.
Do offshore banks operate in a similar way to the High Street banks, ie. Debit/ Credit cards or are they mainly for saving? I'm not asking for recommendations for specific banks or products but any advice or pointers into Offshore Banking would be gratefully received.

Ta very much
Hi Brian...........

Banking generally is very backward here (well it must be - I work in it). For example, direct debits are only now being launched for the first time. Actually, that's an exaggeration - the Central Bank are currently receiving feedback from banks on how they would introduce them, what problems there might be, etc.

Also - despite the fact that it is a criminal offence to write a cheque you cannot meet (so cheque guarantee cards have never been used or even needed), they still freeze your bank account if you lose your job, die, etc.

Banking-wise, there is now a serious effort under way to modernise - to get banking from the 1980s to the 1990s.............

Last edited by The Dean; Jun 1st 2012 at 4:58 am. Reason: .
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Old Jun 1st 2012, 6:35 am
  #17  
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Default Re: Banking advice

Originally Posted by The Dean

Banking-wise, there is now a serious effort under way to modernise - to get banking from the 1980s to the 1990s.............
Not sure that is a good thing! - Perhaps we should return to the Seventies when you had a Branch Manager you could talk to! - Not a Call Centre! (Does anyone remember the National Westminster advertising campaign, with the Manager in your wardrobe?)
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