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Banking in Dubai for a UK expat
Hi guys - I currently have a Barclays account in the UK, but I understand that they are in the process of closing down in the UAE.
I have been told to avoid HSBC as they are rubbish. From the research I have done, Emirates NBD seem to fair well. Is it easy to transfer money back from a local Emirates bank to my Barclays bank in the UK? Apologies if this is a stupid question, but just want to make sure I am getting the most out of my banking whilst I am out there. I will have a property in the UK which I will be renting out - but rental received will go into my Barclays account to cover the mortgage payments. However, I may need to transfer some cash back from Dubai to the UK on a regular basis and don't want to get stitched up with loads of fees! Thanks |
Re: Banking in Dubai for a UK expat
Have a good search through the forums here - I am sure the subject of money transfers back to the UK has been covered in depth not so long ago.
Best adivce I can give as I am not a financial expert. |
Re: Banking in Dubai for a UK expat
Hi Spiritofistanbul, Did you find the answers you were looking for re: Money Transfers or Accommodation?? If you have any questions on both I would be happy to help :)
Good Luck |
Re: Banking in Dubai for a UK expat
Originally Posted by spiritofistanbul
(Post 11202721)
Hi guys - I currently have a Barclays account in the UK, but I understand that they are in the process of closing down in the UAE.
I have been told to avoid HSBC as they are rubbish. From the research I have done, Emirates NBD seem to fair well. Is it easy to transfer money back from a local Emirates bank to my Barclays bank in the UK? Apologies if this is a stupid question, but just want to make sure I am getting the most out of my banking whilst I am out there. I will have a property in the UK which I will be renting out - but rental received will go into my Barclays account to cover the mortgage payments. However, I may need to transfer some cash back from Dubai to the UK on a regular basis and don't want to get stitched up with loads of fees! Thanks HSBC and Emirates NBD are the biggest banks here, as far as expats are concerned and there isn't that much difference between them. All banks have a decent online presence. For currency transfers you can get better rates than via banks. Even if they don't charge a fee, you'll pay by way of a poor exchange rate. This link might be of interest to you: http://financialuae.me/2014/04/21/th...en-currencies/ |
Re: Banking in Dubai for a UK expat
Originally Posted by Meow
(Post 11248075)
HSBC and Emirates NBD are the biggest banks here, as far as expats are concerned and there isn't that much difference between them. All banks have a decent online presence.
For currency transfers you can get better rates than via banks. Even if they don't charge a fee, you'll pay by way of a poor exchange rate. This link might be of interest to you: http://financialuae.me/2014/04/21/th...en-currencies/ I've had no problems with HSBC (other than the account balance reducing too quickly), however other people have. ADCB have a good reputation on this board. |
Re: Banking in Dubai for a UK expat
i like adcb been with them since 1996 not had any real probs.
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Re: Banking in Dubai for a UK expat
Originally Posted by Norm_uk
(Post 11248913)
ADCB rate highly with many of my clients. The wife got a job with them recently as well and they are a bit more organised it seems...for a local bank.
N. |
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