# Bank Accounts



## 21MR (Jan 9, 2012)

Looking for some pointers on whether to open an account in UAE or an offshore account. Seems like opening in Dubai is time-consuming and problematic. Any thoughts greatly appreciated!


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## Elphaba (Jan 24, 2008)

You will need a UAE bank account to receive your salary. Opening one is not at all complicated.

Comparative info here: www.souqalmal.com


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## 21MR (Jan 9, 2012)

thanks Elphaba...I'll have a look at this site. Any ideas on timescales etc? I have a lot to do on arrival in Dubai in terms of setting up home and the new job. Thanks again!


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## Elphaba (Jan 24, 2008)

21MR said:


> thanks Elphaba...I'll have a look at this site. Any ideas on timescales etc? I have a lot to do on arrival in Dubai in terms of setting up home and the new job. Thanks again!


Almost instant with some banks. Just make sure you have the paperwork you need.

Good luck with your move.


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## md000 (Dec 16, 2008)

Elphaba said:


> You will need a UAE bank account to receive your salary.


This isn't necessarily true for all folks here. If you work for a freezone-based company or are sponsored by a semi-government entity (one that doesn't use WPS), then you don't need to have a local account.

-md000/Mike


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## Elphaba (Jan 24, 2008)

md000 said:


> This isn't necessarily true for all folks here. If you work for a freezone-based company or are sponsored by a semi-government entity (one that doesn't use WPS), then you don't need to have a local account.
> 
> -md000/Mike


Strictly speaking the WPS (Wages Protection System) system insists on payment to a local bank account in UAE Dirhams.


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## md000 (Dec 16, 2008)

Elphaba said:


> Strictly speaking the WPS (Wages Protection System) system insists on payment to a local bank account in UAE Dirhams.


Yes, this is true.


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## Elphaba (Jan 24, 2008)

md000 said:


> Yes, this is true.


But we both know that with the right connections, you can get around all sorts of rules...


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## md000 (Dec 16, 2008)

Elphaba said:


> But we both know that with the right connections, you can get around all sorts of rules...


Well, I don't even think you need connections. The only ones that I know of that need WPS are the employees of companies registered in the Dubai Municipality.

Let's just say that I know from first-hand experience =) 

-md000/Mike


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## Elphaba (Jan 24, 2008)

md000 said:


> Well, I don't even think you need connections. The only ones that I know of that need WPS are the employees of companies registered in the Dubai Municipality.
> 
> Let's just say that I know from first-hand experience =)
> 
> -md000/Mike


The law states that any company with five or more employees must use the WPS System. The law states...


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## 21MR (Jan 9, 2012)

Am I right in saying the only paperwork required is a passport and 'letter of no objection' from my employer? Any recommendations on banks?


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## md000 (Dec 16, 2008)

Passport copy, visa copy, salary certificate/contract and you should be good to go. I don't remember there being a NOC from my employer.

Every time I think of dealing with my bank, HSBC, I have to ponder how big a splash my body would make when I heave myself off the top of the Burj Khalifa. 

-md000/Mike


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## warsawer (Jan 2, 2013)

which one is the cheapest to maintain ?


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## 21MR (Jan 9, 2012)

I've heard lots of negatives about HSBC...seems I'd be better looking elsewhere. Thanks for the advice!


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## Roadworrier (Jul 3, 2012)

md000 said:


> Passport copy, visa copy, salary certificate/contract and you should be good to go. I don't remember there being a NOC from my employer.
> 
> Every time I think of dealing with my bank, HSBC, I have to ponder how big a splash my body would make when I heave myself off the top of the Burj Khalifa.
> 
> -md000/Mike


I needed an NOC from my employer when opening my account. Wearing a nice shirt and tie helps me get good service there, at least when I am in AD.


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## rsinner (Feb 3, 2009)

Roadworrier said:


> Wearing a nice shirt and tie helps me get good service there, at least when I am in AD.


last time I was in HSBC AD, I thought the customer "service" agent or receptionist (whatever she was) was going to slap me because I questioned the need for my original passport and salary certificate for just getting a new cheque book. No idea why my emirates ID or any other form of ID did not help. She went from nored to rude, probably because I had interrupted her chit chat session with her colleague. (And she wasnt local)

I thought I was dressed well. Maybe you are white and not brown? probably that makes a difference?

But all said and done, I would probably show up with all the documents. Need my salary in my account and too scared to open another account with another bank. Recently heard that you need an NOC from your old bank if you need to open a new account (no idea if this is correct). If I have to deal with any more bureaucracy I will shoot myself in the head.


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## crt454 (Sep 3, 2012)

ENB is a good one, and has good reviews.


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## Drkcyde (Oct 10, 2012)

I have had good experiences with hsbc.
Met me at my office to fill out paperwork. Took care of everything. Almost like they couldn't wait to get a credit card in my hand!!!


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