# Banking in Dubai: What are my options?



## leelum (Feb 11, 2015)

Hey everyone!

I'm sorry for this n00b question but hopefully someone can advise.

I currently live in Iraq as a teacher and I bank with ADIB here. However, given the precarious situation here in the region, I don't want to keep my money here as at any moment banks could refuse to start giving out cash.

I'm going to Dubai in March and I'd like to open an account that offers me the option of online banking and a visa debit card, even if it's just for a savings account as it will only be used for emergencies. 

If anyone can recommend a bank or can provide further information, that would be great. Initially my opening deposit would be small however I would aim to use it as an account to transfer the remainder of my salary to each month.

I'm sorry if something along these lines has been asked before but I wasn't able to find my specific query in a search.


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## Fat Bhoy Tim (Feb 28, 2013)

I would recommend ADCB first and then Emirates NBD second. 

I wouldn't touch the rest.


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## leelum (Feb 11, 2015)

Fat Bhoy Tim said:


> I would recommend ADCB first and then Emirates NBD second.
> 
> I wouldn't touch the rest.


I just contacted RAK Bank and apparently it's possible with them and they give a Visa Debit card but it takes a week to issue and I will only be there for 7 days. 

I'll check out the above bank too! Thank you


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## arabianhorse (Nov 13, 2013)

Don't think you can open an account in the UAE unless you are a resident.

But I've been wrong before. Once in November of 1989.


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## leelum (Feb 11, 2015)

arabianhorse said:


> Don't think you can open an account in the UAE unless you are a resident.
> 
> But I've been wrong before. Once in November of 1989.


I've contacted RAK and it's possible with a minimum deposit of 3000AED. I'm just not there long enough to get the card...


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## Windsweptdragon (Aug 12, 2012)

Why use Dubai? The banks here can be horrendous, the best you can hope for is to find a bank that aren't as useless as the rest. 

If you're only transferring money to an emergency account do you not have an account already setup in Ireland? 

Majority of people I know do not keep their savings in Dubai due to the possible risks, they get money out to offshore or home accounts. While I have no doubt its much safer to keep money in Dubai than in Iraq, you'd only be moving money to a slightly safer country, not a safe one.


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## leelum (Feb 11, 2015)

Windsweptdragon said:


> Why use Dubai? The banks here can be horrendous, the best you can hope for is to find a bank that aren't as useless as the rest.
> 
> If you're only transferring money to an emergency account do you not have an account already setup in Ireland?
> 
> Majority of people I know do not keep their savings in Dubai due to the possible risks, they get money out to offshore or home accounts. While I have no doubt its much safer to keep money in Dubai than in Iraq, you'd only be moving money to a slightly safer country, not a safe one.


The main reason is because I don't get paid in Euro and my home bank charge crazy fees on even just transferring dollars into a my account and on top of government imposed fees, the UAE is a good temporary option.


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## The Rascal (Aug 6, 2014)

arabianhorse said:


> Don't think you can open an account in the UAE unless you are a resident.
> 
> But I've been wrong before. Once in November of 1989.


And again in 2015, a number of banks do savings accounts with a debit card for non-residents, Citi do but it takes a while to get it (experience).

Emirates NBD do too, when it used o be NBD (before they merged) they'd print you a card while you waited (in the branch that is now McGettigans at Trade Centre), might be worth a call there. I'd also suggest you bring 3-6 months of bank statements too, bankers can be awkward.

The obvious suggestion though is why don't you open a savings account with ADIB and explain the situation, that would also make it easier and cheaper to transfer money, I'd have thought if the cash was at the Dubai Branch then the "hold" cannot be put on it.


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## leelum (Feb 11, 2015)

The Rascal said:


> And again in 2015, a number of banks do savings accounts with a debit card for non-residents, Citi do but it takes a while to get it (experience).
> 
> Emirates NBD do too, when it used o be NBD (before they merged) they'd print you a card while you waited (in the branch that is now McGettigans at Trade Centre), might be worth a call there. I'd also suggest you bring 3-6 months of bank statements too, bankers can be awkward.
> 
> The obvious suggestion though is why don't you open a savings account with ADIB and explain the situation, that would also make it easier and cheaper to transfer money, I'd have thought if the cash was at the Dubai Branch then the "hold" cannot be put on it.


Unfortunately the Iraqi Central Bank will only allow Banks in Iraq to "link" with their parent branches if they have permanent residency of the country in question. I don't have permanent residency...

I'll definitely check out Emirates NBD; I can't find anything on the website about an account for non residents though?


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## arabianhorse (Nov 13, 2013)

HSBC Premier allows you to have multicurrency accounts in different countries.

Transfer between accounts is instantaneous and free.

Rascal - I've not been well, also have a slight hangover today. The next time I'm wrong will be in 2039


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## Malbec (Jan 2, 2014)

Windsweptdragon said:


> Why use Dubai? The banks here can be horrendous, the best you can hope for is to find a bank that aren't as useless as the rest.
> 
> If you're only transferring money to an emergency account do you not have an account already setup in Ireland?
> 
> Majority of people I know do not keep their savings in Dubai due to the possible risks, they get money out to offshore or home accounts. While I have no doubt its much safer to keep money in Dubai than in Iraq, you'd only be moving money to a slightly safer country, not a safe one.


Normally, that is the direction money flow these days: TO UAE and not the other way. After Cyprus failure and Swiss privacy leaks, Singapore and UAE are considered as top countries to keep money. UAE has unlimited deposit guarantee should Central Bank licensed bank fail.


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## leelum (Feb 11, 2015)

Does anyone know the name of the specific account Emirates NDB offer for non residents?


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## Malbec (Jan 2, 2014)

leelum said:


> Does anyone know the name of the specific account Emirates NDB offer for non residents?


Normal saving account. They can courier debit card overseas at a charge of AED 150 if I remember well.


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## leelum (Feb 11, 2015)

Malbec said:


> Normal saving account. They can courier debit card overseas at a charge of AED 150 if I remember well.


Thank you


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## 1768009 (Jun 2, 2021)

I would be interested in which banks are recommended nowadays because a lot seems to have changed last years. Using mashreq but prefer to move my savings in a 'non digital' bank. Any recommendations?


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## UKMS (Jan 9, 2017)

1768009 said:


> I would be interested in which banks are recommended nowadays because a lot seems to have changed last years. Using mashreq but prefer to move my savings in a 'non digital' bank. Any recommendations?


Perhaps you can expand with a bit of context ........ when you say 'recommended' for what ? and moving savings where ?


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