# Banking



## superscot69 (Mar 14, 2011)

Hi moving out to RAK in a few months time and was wondering what’s the bank of choice among you as i still have commitments back home and will need to send money on a monthly basis to my account back home in Scotland. For the first few months just plan to send using Western Union till i can get an account opened up any help appreciated 

Cheers


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## newguyintown (Mar 15, 2012)

superscot69 said:


> Hi moving out to RAK in a few months time and was wondering what’s the bank of choice among you as i still have commitments back home and will need to send money on a monthly basis to my account back home in Scotland. For the first few months just plan to send using Western Union till i can get an account opened up any help appreciated
> 
> Cheers


Most of the MNC banks like HSBC, Stanchar as well as 'big' local banks ADCB, RAK Bank are quite good and provide decent service. As far as sending money back home is concerned I would suggest you to use the services of money exchanges as you get marginally better rates and if you are transferring a big amount (more than AED 8000 or so) you can actually bargain for better rates than what they are offering.

Hope that helps!


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## superscot69 (Mar 14, 2011)

Many thanks for the info 

Cheers


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## Elphaba (Jan 24, 2008)

Comparative info re bank accounts can be found here:

Compare Credit Cards, Personal Finance, Loans, Insurance, RakBank Loans in Dubai, UAE, Saudi Arabia, Kuwait- Souqalmal.com

If you are transferring more than AED 10k you will be able to get better rates than via your bank or Western Union. The larger the transfer the better the rate as wholesale rates are available. Contact me for details of the service I use personally and for my clients.


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