Grace O Malley

This morning i went to pick up my brand new shiny credit card, the previous one had expired.

On receiving my new card i was asked to sign a security cheque for 100,000 dhs?

I had never signed a security cheque for the first one, maybe i should of and the bank forgot, who knows.

Anyway i refused to sign the security cheque for now and i don't have my credit card

The manager advises that security cheques must be handed over now for all credit cards due to the amount of run aways

Anyone else had this happen or did you hand over a security cheque when you first got your card

Inselaffen

no. sounds like time to change your bank

Grace O Malley

Um thing is they have been great up till now, i have been with them 4 years. Just wondering if all the banks will be following suit, i guess they have lost a lot of money on run aways and cant run such risks anymore.

I think soon the gov will order a directive to all companies that if an employee is being terminated or leaving the company's employ that the company must inform the bank immediatley.

This was the case when i first got here. You had to get a letter from the bank that all your loans etc were paid up and that yr bank account was closed, then your visa was cancelled, you passport held until flight departure date, you were then escorted to the airport by the PRO, given yr passport, made sure you left and ha ha then came back on the next plane for the next job


I see some pretty crazy new rules coming, the banks cant soak up all these unpaid debts, just my thoughts

Meow

I have never heard of that. I know that certain banks ask you keep a specified balance in yoru current account if you have a credit card with them.

I'd be interested to know which bank this is.

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Grace O Malley

PM u.

So its not normal? Have had my credit card 4 years, my salary goes in to my account every month, very strange, me thinks

lionheart

It sounds absolutely ridiculous. I don't have Dhs100,000 in my UAE account anyway so the cheque would be worthless. HSBC have never asked me for such a thing, although they do have a nasty habit of raising the card limit without telling me, which I don't like. Fortunately, they have alway agreed to reduce the limit back to the original amount once I complain about it.

tonyhenderson

I got my credit card with ADCB June 2008 and yes you had to sign the cheque its the last item on the application form

lionheart

Absolute madness!

Grace O Malley

So it must be a new rule then and they got me on issuing a new one.

There you go, you learn something new every day! I will have to sign it then no doubt!

Grace O Malley

Ridiculous, maybe, who knows, just another new rule LH with some form of logic behind it, although hard to find it

The Dean

But what's your limit on the card?

Surely it's not 100,000?

MrsHaps

Would they ask for 100,000 knowing full well she never has 100,000 in her bank and therefore if the worst was to happen they can make sure it would bounce?

Meow

Riasing your limit is actually a compliment. It means you are considered a good credit risk. HSBC are actually reducing a lot of card limits at the moment.

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Meow

I wouldn't recommend signing it. And definitely not unless your credit limit is 100k.

Try another provider as you don't have to have a credit card with your own bank.


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Grace O Malley

That's a very personal question W.