# Bank in Dubai?



## ajesh.nair (May 20, 2012)

Hi Guys,

I will be moving to Dubai next week and will be staying there for around 2 years. I have done my research in this forum and found couple of bank names for banking. Emirates NBD, HSBC, Standard Chartered, RakBank, ADIB bank. I wanted to know out of these which bank allows a non resident to open an account. Please help. 

Thanks.


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## rsinner (Feb 3, 2009)

ajesh.nair said:


> Hi Guys,
> 
> I will be moving to Dubai next week and will be staying there for around 2 years. I have done my research in this forum and found couple of bank names for banking. Emirates NBD, HSBC, Standard Chartered, RakBank, ADIB bank. I wanted to know out of these which bank allows a non resident to open an account. Please help.
> 
> Thanks.


Non resident where ? You will be a non resident in Dubai ? How is that possible? If you are talking about being a non resident Indian, then you can get an NRE/NRO account with HSBC (and probably Standard Chartered Bank as well)


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## ajesh.nair (May 20, 2012)

rsinner said:


> Non resident where ? You will be a non resident in Dubai ? How is that possible? If you are talking about being a non resident Indian, then you can get an NRE/NRO account with HSBC (and probably Standard Chartered Bank as well)




Yes i will be a non resident in Dubai since I will be moving there from India


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## blue_moon (Apr 25, 2012)

ajesh.nair said:


> Yes i will be a non resident in Dubai since I will be moving there from India


Which makes you a resident, once you reside in Dubai.


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## RoxiRocks (Aug 16, 2011)

Assuming your stay is based on a work permit then you are considered a Dubai resident. So, you can walk into any bank with your proof of work visa and open an account. What drama!


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## blue_moon (Apr 25, 2012)

RoxiRocks said:


> Assuming your stay is based on a work permit then you are considered a Dubai resident. So, you can walk into any bank with your proof of work visa and open an account. What drama!


I think the question that really matters is to which bank?  What are the differences between the banks and what to look out for?


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## md000 (Dec 16, 2008)

My experience with HSBC

Amazing electronic banking with the ability to remit money to your home country for US$7 (25 AED) on the single click of a button. 

Anytime I deal with a human - on the phone or in the bank - absolutely the most atrocious experience man could have. I would rather spend a day with DEWA, Etisalat, and the Dubai Courts than spend an hour with the individuals that are HSBC employees. They make me want to cry. Or laugh. Or cry with laughing - and not from joy.

-md000/Mike


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## saima1215 (May 31, 2010)

I was declined a savings account because I'm a US citizen. Has anyone faced this recently? I found it so weird. Apparently it's a central bank policy (could be a temporary thing). When asked why I was told due to tax reasons. This was at Emirates NBD.


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## md000 (Dec 16, 2008)

saima1215 said:


> I was declined a savings account because I'm a US citizen. Has anyone faced this recently? I found it so weird. Apparently it's a central bank policy (could be a temporary thing). When asked why I was told due to tax reasons. This was at Emirates NBD.


Yep...that's coming. Why? Because the US government wants the ability to steal expatriate's money worldwide. 

-md000/Mike


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## rsinner (Feb 3, 2009)

A lot of banks are becoming wary of accounts from US citizens because of reporting requirements under new legislation (I forgot the name). Essentially every US citizen needs to declare assets abroad, and banks are required to maintain a list of all accounts from US citizens.


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## blue_moon (Apr 25, 2012)

md000 said:


> My experience with HSBC
> 
> Amazing electronic banking with the ability to remit money to your home country for US$7 (25 AED) on the single click of a button.
> 
> ...


Might it be that HSBC is the best when it comes to transfer fees to abroad? 

Do some banks charge fees when receiving transfer from abroad? I know how much my bank will charge for transferring money from Europe to UAE, but they claim that the UAE bank might also charge fees for receiving the money.


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