Bounce a cheque - your account is now frozen
#1
Bounce a cheque - your account is now frozen
Within 2 days
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.
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.
#2
Re: Bounce a cheque - your account is now frozen
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.
#3
Re: Bounce a cheque - your account is now frozen
ok just read the article lol - it's about the rent deposit....fortunately for me, my company pays for my rent deposit.
#4
Re: Bounce a cheque - your account is now frozen
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.
#5
Re: Bounce a cheque - your account is now 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.
#6
Re: Bounce a cheque - your account is now frozen
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.
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.
#7
Banned
Joined: Oct 2015
Location: Luton
Posts: 1,162
Re: Bounce a cheque - your account is now frozen
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.
#8
Re: Bounce a cheque - your account is now frozen
Scary sh1t.
#9
Account Closed
Joined: Feb 2011
Posts: 0
Re: Bounce a cheque - your account is now frozen
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.
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.
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.
#10
Banned
Joined: Oct 2015
Location: Luton
Posts: 1,162
Re: Bounce a cheque - your account is now frozen
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.
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.
"British Expat Forum" Friends
#11
Re: Bounce a cheque - your account is now frozen
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.
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.
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.