# Changing company...bank account freeze



## xchaos777 (Dec 15, 2010)

I am changing companies in a about 1 month....from an onshore company to a free zone company.

I am not concerned about the visa process...but more so about the bank account. The free zone company isn't established yet and will be within the month after my current position ends...it is in process.

However, I have significant sums in my local bank account. I have no debts, no loans, nothing like that owed to anyone in the UAE.

My question is, will the bank freeze the account? If so, for how long and under what situation does it open up again?

I haven't posed the question to the bank...because I don't want them to do something drastic, like steal my money...

I understand the worry about people doing runners...but as I have no one owed any money so there is no justification to lock up the money. I really don't want to cash out a lot and hold it or transfer it out and then back shortly later...the money will be used for a new apartment lease shortly.

Anyone know the situation here for this?? Recent experiences?

Thanks!


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## Gavtek (Aug 23, 2009)

I think generally, they'll only do something if your current employer notifies them, which they never have any real need to do in the first place unless they want to be malicious.


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## xchaos777 (Dec 15, 2010)

They won't be malicious. However, they may tag the final salary payment as such. Which in affect notifies the bank of that.



Gavtek said:


> I think generally, they'll only do something if your current employer notifies them, which they never have any real need to do in the first place unless they want to be malicious.


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## fcjb1970 (Apr 30, 2010)

I have changed jobs twice, and despite all the horrors stories I have heard, have never had anything happen to my accounts or credit card.


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## saraswat (Apr 28, 2012)

I can tell you from personal experience, I last time i left the UAE for an extended period (2 1/2 years) for the states, my credit card and bank a/c were left active (didn't cancel them before leaving). I didn't use them, but when i came back it was like i never left.. Maybe that was a mistake on the banks part. In any case if you talk to them and explain the situation I am sure they will co-operate, you have a month from the date of cancellation of your current employment visa to stay legally in the country. In that time if your free-zone formalities are not complete, you can do a visa run to be legally here, you could also have the under-formation company talk to your bank/submit a letter and explain their situation and the fact that you will be employed by them.
Also you can refer to this (top of the page)

http://www.thenational.ae/lifestyle...eeze-my-account-if-my-visa-is-cancelled#page2


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## Ogri750 (Feb 14, 2008)

There was an announcement about a month or so ago from the central bank that banks are not allowed to freeze your account simply because your present employer may tag a payment as a final salary.

The banks are only allowed to freeze accounts if 3 consecutive payments to them are missed


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## xchaos777 (Dec 15, 2010)

Thanks Ogri750. That's good information.

With that, I will have a discussion with the bank and update if there is something to be concerned about!



Ogri750 said:


> There was an announcement about a month or so ago from the central bank that banks are not allowed to freeze your account simply because your present employer may tag a payment as a final salary.
> 
> The banks are only allowed to freeze accounts if 3 consecutive payments to them are missed


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