# Banking: HSBC vs. The Locals



## SHIFT_disturber (Oct 23, 2015)

Hello All,

With regards to banking, do most expats use HSBC or are there local options worth considering. I'm somewhat leery of local banks after time spent in South Asia where banking usually involved having to go in to do everything personally, staff that had taken at best a 3 day training course on their jobs, etc...

Surfing the bank websites, there seems to be not much difference in terms of service offering. Some banks give you a relationship manager at a lower deposit level, all seem to have multi-currency accounts, all have some level of mobile banking (Emirates NBD seems to have the most depth to their platform). Only variance really seems to be in Credit Card products.

Thoughts? Or should I just pick the one that has a branch closest to where I live.

Cheers,


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## Racing_Goats (Sep 5, 2015)

A lot of people choose the same UAE bank as their employing company banks with, for ease of transfers or better access to credit facilities. I did the same thing and bank with Emirates NBD, I've found them pretty good over the past years and their online banking platform works well for me.

I know quite a few people who bank with HSBC UAE and they haven't usually been too happy with the service, but then I guess only the unhappy ones mention it..


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## BedouGirl (Sep 15, 2011)

Racing_Goats said:


> A lot of people choose the same UAE bank as their employing company banks with, for ease of transfers or better access to credit facilities. I did the same thing and bank with Emirates NBD, I've found them pretty good over the past years and their online banking platform works well for me. I know quite a few people who bank with HSBC UAE and they haven't usually been too happy with the service, but then I guess only the unhappy ones mention it..


As RG rightly says, most employers have a relationship with one or two banks, which dictates where your salary is paid into. What you do with it after that is up to you, but watch out for minimum balances to avoid charges.


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## Roxtec Blue (Jan 14, 2013)

Don't forget HSBC are also locals................


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## Chocoholic (Oct 29, 2012)

HSBC here has zero to do with it's international counterpart.

I've just had a major nightmare with them. RAK bank seem to have a good reputation. I also have accounts with Emirates Islamic and have found them pretty good.


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## dogmeat (Dec 10, 2015)

I am with ADCB - They are okay. They froze my bank when i changed jobs. Not to impressed with that.

Outside of that - 
internet banking - good. 
Exchange rate - good
Enough banks around Abu - good
Ethihad miles - good. 
Card quality - Crap, needs replacing every 3 months.


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## Chocoholic (Oct 29, 2012)

I've just gone through the card freezing issue with HSBC. They didn't freeze my account though. I did everything they asked of me to avoid it happening, yet they still did it. Was not impressed.


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## telecompro (Apr 4, 2013)

Chocoholic said:


> I've just gone through the card freezing issue with HSBC. They didn't freeze my account though. I did everything they asked of me to avoid it happening, yet they still did it. Was not impressed.


Why did the freeze it?


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## The Rascal (Aug 6, 2014)

I find CitiGold to be great, and the team (in Dubai near Wafi) are always more than happy to help.


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## Chocoholic (Oct 29, 2012)

telecompro said:


> Why did the freeze it?


Because I changed sponsor. They do it until you have a new visa in your passport, a letter from your employer confirming your salary etc etc.

Lots of new paperwork to be filled out an signed.

Banks are very VERY nervous again at the moment and worried with all the job loses going on that people will do runners.


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## The Rascal (Aug 6, 2014)

Chocoholic said:


> Banks are very VERY nervous again at the moment and worried with all the job loses going on that people will do runners.


Aren't they just, they have to sell the loans to get the profit in but....

To be fair, the interest rates they charge is crazy - so they can afford a few skips.


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## Malbec (Jan 2, 2014)

Chocoholic said:


> Because I changed sponsor. They do it until you have a new visa in your passport, a letter from your employer confirming your salary etc etc.
> 
> Lots of new paperwork to be filled out an signed.
> 
> Banks are very VERY nervous again at the moment and worried with all the job loses going on that people will do runners.


Interesting. But let's say you are a good client of the bank and you keep a lot of money, I wonder if they would act the same way. I guess they freeze accounts of people who have no further interest in keeping the account except for the standard salary transfer in and out. So if they don't keep money, but have credit cards or other lending products, well, they can get a little nervous, no? Also you don't need to be a resident or have a residence visa to have an account here, except for the current accounts.


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