# Bank Account



## chris_uel (Oct 30, 2011)

Hi all, any advice on opening an account in the middle east to be able to transfer money back to the UK for free/very cheap and that is reliable.

Should I open a HSBC account in the UK and use them? Or do I open an offshore account somewhere and divert the money that way?

Any help would be very appreciated.

Thanks.


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## kevinthegulf (Aug 16, 2009)

chris_uel said:


> Hi all, any advice on opening an account in the middle east to be able to transfer money back to the UK for free/very cheap and that is reliable.
> 
> Should I open a HSBC account in the UK and use them? Or do I open an offshore account somewhere and divert the money that way?
> 
> ...


When I was in Abu Dhabi I used a money changer (plenty of choice in UAE) the rates were good, I used to get a "free" transfer everymonth (it had to be constant not changable) with HSBc, but the account cost about £20 a month. Once you get sorted there the money changers have internet accounts etc so it becomes very easy and convenient,

I am shortly moving to the gulf again and will certainly be looking at the money changers route for transferring home, 
rgds


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## chris_uel (Oct 30, 2011)

But is the 20 quid a month better than having to pay other fees? I am looking for the least of all evils. Even if the date is a constant, that wouldn't matter as I am not sending money back to pay any bills, just sending it back to keep in a UK account.


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## kevinthegulf (Aug 16, 2009)

You will have to do a bit of homework, as you have to consider the exchange rates as well, personally I am totally underwhelmed by H5bC, as my income was very irregular when I was there I just sent the basics via my account and sent my other stuff via a money changer when I had a good payday, when I occaisionally checked rates then the bank was a worse rate than the money changers.

My uk bank recently gave me the wonderful rate of 3.61 when I used my dollar debit card in the UAE to buy something, the money changers were giving 3.65AED for cash
Trust the banks to look after you!!!!!!


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