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UAE Banking enters the 20th Century

UAE Banking enters the 20th Century

Old Jan 13th 2014, 3:13 am
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Default UAE Banking enters the 20th Century

Direct Debits are now available from 1st March.

Well they are for CitiBank at least.

One small step for UAE Banking, one giant leap for their customers.
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Old Jan 13th 2014, 3:45 am
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Default Re: UAE Banking enters the 20th Century

Just waiting for them to come into the 21st century now.
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Old Jan 13th 2014, 3:50 am
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Default Re: UAE Banking enters the 20th Century

I haven't tried using it yet, but from what I had understood that this came in last year - certainly according to ADCB it had?
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Old Jan 13th 2014, 4:04 am
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Default Re: UAE Banking enters the 20th Century

No way would I let anyone in this country take money from my account on their own basis.
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Old Jan 13th 2014, 4:54 am
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Default Re: UAE Banking enters the 20th Century

Originally Posted by Brains1983 View Post
I haven't tried using it yet, but from what I had understood that this came in last year - certainly according to ADCB it had?
They have been 'available' theoretically for months, but few banks have formally introduced them yet. And of those that have I think most people are waiting for others to test the system.

Considering how many times they mess up standing orders I find it hard to believe that direct debits can be much worse...
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Old Jan 13th 2014, 5:54 am
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Default Re: UAE Banking enters the 20th Century

Originally Posted by Brains1983 View Post
I haven't tried using it yet, but from what I had understood that this came in last year - certainly according to ADCB it had?
they may have talked about it happening.... but talking and doing are two very different things.... plus we are talking uae time
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Old Jan 13th 2014, 7:14 am
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Default Re: UAE Banking enters the 20th Century

Originally Posted by Millhouse View Post
No way would I let anyone in this country take money from my account on their own basis.
My landlord (a major listed company) says all rents will be collected in this way after current contracts are renewed - so no choice for me .......... my feeling is that this will largely remove the need for all of those stupid post-dated cheques.............
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Old Jan 13th 2014, 7:54 am
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Default Re: UAE Banking enters the 20th Century

Originally Posted by The Dean View Post
My landlord (a major listed company) says all rents will be collected in this way after current contracts are renewed - so no choice for me .......... my feeling is that this will largely remove the need for all of those stupid post-dated cheques.............
One DD or 12 equal?
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Old Jan 13th 2014, 8:13 am
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Default Re: UAE Banking enters the 20th Century

Originally Posted by Kix View Post
One DD or 12 equal?
12 equal - might as well be, under a DD arrangement .............
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Old Jan 13th 2014, 12:26 pm
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Default Re: UAE Banking enters the 20th Century

Originally Posted by The Dean View Post
12 equal - might as well be, under a DD arrangement .............
Helps on cash flow for us that aren't as rich as you - or who has our employers paying....
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Old Jan 14th 2014, 1:22 pm
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Default Re: UAE Banking enters the 20th Century

Originally Posted by Kix View Post
Helps on cash flow for us that aren't as successful as you - or who has our employers paying....

I've corrected that for you...
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Old Jan 14th 2014, 3:14 pm
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Default Re: UAE Banking enters the 20th Century

Originally Posted by The Dean View Post
12 equal - might as well be, under a DD arrangement .............
If they are equal surely a standard order makes sense?
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Old Jan 14th 2014, 5:42 pm
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Default Re: UAE Banking enters the 20th Century

Direct Debit is a shitty system at the best of times.
Pay by cheque, here the money doesn't take a month to get from your account to the beneficiary's.
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