mandm65

Just like to hear from you if you opened another account with HSBC other than your base currency?
I travel quite often to UAE and so was wondering if there is any mileage in opening account in UAE Dirhams?
Cheers

UKCityGent

Not sure about HSBC but i have 3 currency accounts for work, travelling - ranging from GBP,USD, and EUR.

When travelling inter-GCC - i just used KWD to pay for bills

Norm_uk

You're better off with a USD account as it's pegged to the Dirham....and it's advisable not to have it in the UAE unless you're keeping smaller sums in it - even the international banks in the UAE are franchises and do not operate by the same rules, your money can be frozen for any number of reasons including you getting involved in an accident (even if it's not your fault), death (your will may not be respected), or if you annoy the wrong local.

I have a GBP account back home but rarely use it, a USD offshore account and I use my UAE account for daily expenses etc.

N.

mandm65

thanks guys for your response, the purpose of the account is to use it as a 'local account' while in UAE.
The reason for posting here is jut to see what benefirts, if any, one could get, but it seems not much!
cheers