Banking in UAE

Old Nov 17th 2023, 2:05 pm
  #1  
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Default Banking in UAE

I will be opening a (resident) bank account in the UAE. My salary will be paid into my account in USD. Can anyone advise what is the best bank (in UAE) to transfer funds back to my bank account in the UK ?
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Old Nov 18th 2023, 9:02 am
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Default Re: Banking in UAE

Originally Posted by graemegdc
I will be opening a (resident) bank account in the UAE. My salary will be paid into my account in USD. Can anyone advise what is the best bank (in UAE) to transfer funds back to my bank account in the UK ?
Firstly which Emirate will you be living ? Worth considering this from the point of view of branch availability. You will get lots of opinions because experiences can be inconsistent here with banks. I can only speak from my own experience and I usually send AED or USD to Revolut either from HSBC or Commercial bank of Dubai and then change to GBP then send on to my UK bank. Somewhat depends on the amounts and frequency as to whether you want to make the effort to get a good exchange rate.
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Old Nov 18th 2023, 10:08 am
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Default Re: Banking in UAE

Originally Posted by UKMS
Firstly which Emirate will you be living ? Worth considering this from the point of view of branch availability. You will get lots of opinions because experiences can be inconsistent here with banks. I can only speak from my own experience and I usually send AED or USD to Revolut either from HSBC or Commercial bank of Dubai and then change to GBP then send on to my UK bank. Somewhat depends on the amounts and frequency as to whether you want to make the effort to get a good exchange rate.
Hi. Thanks for the points. I will be living in the uk, the bank account in uae is solely to receive my salary. I need to transfer my salary over every month. I will have residency status etc
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Old Nov 18th 2023, 11:00 am
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Default Re: Banking in UAE

Originally Posted by graemegdc
Hi. Thanks for the points. I will be living in the uk, the bank account in uae is solely to receive my salary. I need to transfer my salary over every month. I will have residency status etc
The other consideration is who you bank with in the UK and whether they have any ties here.

I bank with HSBC in UK and also bank with them here simply because the accounts link although the exchange rates are poor if you transfer internally. Hence why I use Revolut.

if you are not with HSBC then consider ADIB OR ADCB OR CBD experiences can vary as you may see in some old threads.

Obviously you will need to be here to open etc.

Is the salary coming from the UAE ?
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Old Nov 19th 2023, 11:34 am
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Default Re: Banking in UAE

Originally Posted by UKMS
The other consideration is who you bank with in the UK and whether they have any ties here.

I bank with HSBC in UK and also bank with them here simply because the accounts link although the exchange rates are poor if you transfer internally. Hence why I use Revolut.

if you are not with HSBC then consider ADIB OR ADCB OR CBD experiences can vary as you may see in some old threads.

Obviously you will need to be here to open etc.

Is the salary coming from the UAE ?
Yes, the salary is paid into ‘a bank’ in uae. My office is in uae, I’m based out of uae, but work remotely from uk
I will have residency in uae
I just need to best way to transfer my salary back to the uk
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Old Nov 19th 2023, 12:27 pm
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Default Re: Banking in UAE

Originally Posted by graemegdc
Yes, the salary is paid into ‘a bank’ in uae. My office is in uae, I’m based out of uae, but work remotely from uk
I will have residency in uae
I just need to best way to transfer my salary back to the uk
For me the best way is to send to Revolut and then on to the UK. Much better exchange rate. If you’re not worried too much about exchange rate then send it from the bank you choose to your account in the UK. HSBC ADIB ADCB or CBD whatever suits your circumstances.
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