# What Currency to bring?



## DadTwoThree (Jun 30, 2008)

I am coming to Dubai very soon and ready to change my money up from £UK, can anyone guide me as to whether I take £'s and change to Dirhams in Dubai, or change to $'s in UK first and then change to Dirhams as and when required. I am not a financial person but do know that changing twice will cost me more.
Thanks for any advice.


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## sgilli3 (Mar 23, 2008)

I would just change your pounds to Dhs when you arrive here.
There are plenty of places to do it here.


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## mardigras (Jun 20, 2008)

I too was wondering about this [3 weeks and counting] Why is it better to bring pounds over rather Dirhams? I was thinking of half/half [husbands coming over in 1 week and wants some cash for then. Thanks in advance


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## sgilli3 (Mar 23, 2008)

mardigras said:


> I too was wondering about this [3 weeks and counting] Why is it better to bring pounds over rather Dirhams? I was thinking of half/half [husbands coming over in 1 week and wants some cash for then. Thanks in advance


I think you will find the exchange rate better to change the pounds here.
It is generally a better deal when going back to the UK to change money here 1st...so I gather it is the same entering country.

When we have holidayed in the UK, we change all of our pounds, back here in the UAE.There are exchange places at the airport and also scattered all over the city.

Maybe Elphaba can help you next time she is logged on


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## Maz25 (Jul 6, 2008)

sgilli3 said:


> I think you will find the exchange rate better to change the pounds here.
> It is generally a better deal when going back to the UK to change money here 1st...so I gather it is the same entering country.
> 
> When we have holidayed in the UK, we change all of our pounds, back here in the UAE.There are exchange places at the airport and also scattered all over the city.
> ...


Quite right. You will lose out if you change your UK pounds to dirhams in the UK. Saying that, I have never seen the exchange rate for dirhams displayed anywhere in the UK, which would probably mean that you would have to order whatever amount you require at least a few days in advance and the bank will in all probability charge you even more for the privilege. 

I intend to change some of my money at the airport and then change the rest later as an when I need to.


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## Elphaba (Jan 24, 2008)

Without question bring Sterling an change to Dirhams here. The exchange rate will be significantly better. mainly as there is very little demand for Dirhams in the UK.

The same rules applies for anyone wanting to change Dirhams to any other major currency if going abroad. ALWAYS change cash in the UAE (unless large sum as as detailed by me in other threads).

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## Expatuae (Jul 12, 2008)

*Cash is King!*

100% agree on bringing cash in GDP and changing at airport, or somewhere like Mall of Emirates exchange stores.

The US$ is pegged at 3.67 so changing GDP to US to Dirhams will only make you lose money in the currency conversion fee's.

Before leaving Dubai convert back to GDP as you will find the exchange rate back in UK will only make you lose money on the exchange.


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## DadTwoThree (Jun 30, 2008)

*Many thanks*

Many thanks for everyones help, will bring £'s on Thursday.


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## Mac (Jul 6, 2008)

hi, 

I move out soon and have been reading this thread. It's got me thinking now though. I was planning on just leaving my money in a UK bank account & drawing money at ATMs and using my visa debit card in the shops. I figured this would be the best way. Now I'm not too sure. 

What would you recommend, taking sterling in cash & changing it as you need or just leave it in the bank & use my ATM?

Thanks


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## Elphaba (Jan 24, 2008)

Using your UK account is fine for a couple of weeks, but is a costly way to run your financial affairs as you will be charged everytime you make a withdrawal.

Assuming you will be paid in the UAE, then you will need a Dirham account anyway.

You will receive a much better rate of exchange by changing cash here, then by using a UK debit card. And there will be no fees or charges.


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## Mac (Jul 6, 2008)

Many thanks. I checked my banks charges & they would start to rack up if I just used my card.... they actually charge much more than I thought. 

Hmmm, Just thought though I may have a little bit of a problem here. I'm moving out at the begining of August but most of the money I'm "taking with me" isn't actually gona be paid into my UK account till mid august. What would be the best way of accessing this money if I'm in Dubai?

Could you give me an idea of the criterea for opening a UAE account? When I was speaking with my company they just said they'd get me an account sorted with HSBC after a couple of months. 

I'm gona paid in a mixture of currencies. I'm sure some will be AED but I'm expecting the majority will be in GBP or USD. If this goes into my UK account I'm gona get stung twice aren't I?... Once when they convert it to GBP & then again when I access the money from Dubai?


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## Ogri750 (Feb 14, 2008)

You won't need to wait for the company to open you an account.

Contact HSBC yourself. You will need a copy of your passport and letter of employment to open the account. You won't get a cheque book until you get your residency visa though.

If you need the number of a contact in HSBC, PM me.


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