# Bank account advice needed please



## ProjectMan (Sep 28, 2011)

Hi all, 
I will be starting a new job in Dubai at the beginning of December and am looking for some advice on which are the best banks in Dubai.

Specifically I need an account that allows me to make online transfers of funds from an account in Dubai to an account in the UK or the Republic of Ireland.

In brief my salary will be paid into a Dubai account but I need to send money each month to the UK and Ireland to pay my mortgage and other obligations.
I really dont want the hassle of going to some exchange or transfer place, I had to do this previously when working in Saudi Arabia and it was a horrendous experience

Best Regards
Steve


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## dizzyizzy (Mar 30, 2008)

I'm with Emirates NBD and I can do international transfers online, however the exchange rate is a bit crap and the charges are more expensive than if you went through an exchange company. But quite convenient I have to say as I hate going through the exchange companies here.


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## ProjectMan (Sep 28, 2011)

dizzyizzy said:


> I'm with Emirates NBD and I can do international transfers online, however the exchange rate is a bit crap and the charges are more expensive than if you went through an exchange company. But quite convenient I have to say as I hate going through the exchange companies here.


Thanks once again for the advice, I am the same as you, I dont mind paying a little more for the convenience of making the transfer online

Many thanks
Steve


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## Gavtek (Aug 23, 2009)

I second what IzzyDizzy said, Emirates NBD have the best online banking system I've seen here, and probably better than most of the UK banks too (you can pay your phone, internet, tv, utilities, fines, toll gates and a lot of other stuff from their site - saves muchos hassle).


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## ProjectMan (Sep 28, 2011)

Gavtek said:


> I second what IzzyDizzy said, Emirates NBD have the best online banking system I've seen here, and probably better than most of the UK banks too (you can pay your phone, internet, tv, utilities, fines, toll gates and a lot of other stuff from their site - saves muchos hassle).


Thanks Gavtek, no surprise about it being better then the UK Banks. I have been working in Bulgaria for the last two years and they also have excellent online banking systems in comparison to the UK and Ireland.


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## BedouGirl (Sep 15, 2011)

You may find that your company has an arrangement with a specific bank/banks for salary transfers (many companies here do) which means if it's not your bank of choice, you will have to open another account accordingly to move your money to where you want it to be,


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## ProjectMan (Sep 28, 2011)

BedouGirl said:


> You may find that your company has an arrangement with a specific bank/banks for salary transfers (many companies here do) which means if it's not your bank of choice, you will have to open another account accordingly to move your money to where you want it to be,


Thanks, thats a good point


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## Canuck_Sens (Nov 16, 2010)

Hi PMP man!

There is HSBC and you can make transfers online to your home country (wire) and If you have HSBC accounts in the countries where you want to transfer, the transfer is done in real time.


Just to warn you that quality of service "sucks big time!" in Middle East when it comes to Banking.


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## ProjectMan (Sep 28, 2011)

Canuck_Sens said:


> Hi PMP man!
> 
> There is HSBC and you can make transfers online to your home country (wire) and If you have HSBC accounts in the countries where you want to transfer, the transfer is done in real time.
> 
> ...


Thanks Canuck, as long as I can get a decent internet banking service that's whats important to me.


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## rsinner (Feb 3, 2009)

It has been mentioned already but the exchange rate does suck for online transfer . The difference was about 5% for Indian rupees last week when i checked


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## INFAMOUS (Apr 19, 2011)

HSBC works great and I have not once had to step into a branch... they came to me to open the account etc! 

ADIB is also great for financing and low rates. Great customer service as well.


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## wazza2222 (Sep 7, 2011)

*transfer costs RE: overseas banks*

I asked yesterday whilst in branch enquiring about credit cards/Skyward miles. The cost of HSBC (UAE) to HSBC (overseas account) is currently US$7.
The cost of HSBC (UAE) to non-HSBC is US$50!!! 
I guess they then smack you for a sharp exchange rate too... ouch



INFAMOUS said:


> HSBC works great and I have not once had to step into a branch... they came to me to open the account etc!
> 
> ADIB is also great for financing and low rates. Great customer service as well.


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## talkitter (Sep 29, 2011)

If you have account with HSBC in your home country than use HSBC. Its good for international transfers and their online system is quite good.


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## osiere (Apr 23, 2011)

Have you checked with Citibank?


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## md000 (Dec 16, 2008)

I second everything said about HSBC. The transferring of money between HSBC accounts is REALLY EASY. Basically, a couple of clicks and instantaneous transaction. They charge about 25 AED for this privilege (US$7 to send to my US account). 

On the other hand, the service is extremely poor and they nickel and dime you for every single transaction. The latest one is, if you want to deposit money less than 2000 AED at a teller, you have to pay a fee. They also wanted a fee (1%) for putting US dollar in my US dollar account. I hate them. With the passion of a lover scorned. I hate them.

The choice is yours though. 

-md000/Mike


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## nrqazi (Nov 9, 2010)

*Free transfers between UK & UAE bank accounts*

Hi Steve
I am doing exactly that.

Open a Premier or Plus account with HSBC UK.

Then open an HSBC UAE account (you can start the process sitting in UK; no worries. Just contact your HSBCpremier account manager and he will guide you how to.

Once you are set up with both accounts, you will enjoy free and instant online transfers between your accounts, through Global Transfers.

Hope this helps
regards


ProjectMan said:


> Hi all,
> I will be starting a new job in Dubai at the beginning of December and am looking for some advice on which are the best banks in Dubai.
> 
> Specifically I need an account that allows me to make online transfers of funds from an account in Dubai to an account in the UK or the Republic of Ireland.
> ...


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## md000 (Dec 16, 2008)

nrqazi said:


> Hi Steve
> I am doing exactly that.
> Open a Premier or Plus account with HSBC UK.
> Then open an HSBC UAE account (you can start the process sitting in UK; no worries. Just contact your HSBCpremier account manager and he will guide you how to.
> Once you are set up with both accounts, you will enjoy free and instant online transfers between your accounts, through Global Transfers.


Just to frame the conversation:

HSBC Premier requires:

A. Maintain a balance of 350,000 AED in deposits or investments
or
B. Salary transfer of 50,000 AED or above for the first 12 months after which you must maintain a balance of 350,000 AED or above.

If not, fee applies: 200 AED/month

btw. if you have a UAE-based account and want to deposit GBP, they charge you 1%: http://www.hsbc.ae/1/2/personal/banking/current-accounts/premier-account

-md000/Mike


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