# bank account for new resident



## deeps_10 (Mar 21, 2014)

hi,

I will be arriving in dubai on April 18th to work and live for the foreseeable future. Upon arriving I will be picking up my entry visa at the airport and then starting the process of getting my residency visa through my employer/sponsor.

My question is about getting a bank account as soon as possible. From reading the forums, it looks like HSBC is a bank that will allow me to open a bank account even if I don't have a residents visa, but only if I can prove through my employer that the process is happening, I assume through a letter.

Is this the case?

Also I will be staying in hotel apartment the first month organised by my employer. During the first month I will then look at places to stay and decide where to rent full time at the end of the first month. Is not having a permanent address going to cause issues with getting a bank account?

Thanks in advance to all!


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## twowheelsgood (Feb 21, 2013)

If your company stands behind ypu, then you won't have any difficulty getting an account from HSBC.

I had two new starters last week, and both had HSBC call on them in the office on their first day to sort out the paperwork.

Permanent address is a non-issue as as far as HSBC is concerned, as I still use my work address as it has a PO Box number and it means online stuff can be delivered to it. Everyone in my office does the same - nobody uses their 'home address'.


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## BedouGirl (Sep 15, 2011)

Generally, companies have a preferred bank. This is the one you will be introduced to, probably during your first week. They will come to you, you won't need to do anything except to provide the information they need. This is something you really don't need to be concerned about.


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## londonmandan (Jul 23, 2013)

My company use ENBD, they came in and did everything for me. All I did was show passport and entry date stamp then the company wrote a salary certificate. Few days later card came.


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## expatteacher2014 (Mar 18, 2014)

If you're already an HSBC customer, you can open an HSBC account in UAE before you leave blighty ... for the princely sum of 100 English pounds. Takes a couple of weeks and they open it as a savings account which you can convert to a current account when you get there and show them your paperwork.


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## BedouGirl (Sep 15, 2011)

expatteacher2014 said:


> If you're already an HSBC customer, you can open an HSBC account in UAE before you leave blighty ... for the princely sum of 100 English pounds. Takes a couple of weeks and they open it as a savings account which you can convert to a current account when you get there and show them your paperwork.


Goodness, that's really cheeky. Having to pay for the privilege of opening account. I wouldn't bother. Most companies only pay into the accounts of bank(s) they specify so there's a strong possibility you'd have to open another account anyway.


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## expatteacher2014 (Mar 18, 2014)

BedouGirl said:


> Goodness, that's really cheeky. Having to pay for the privilege of opening account.


Yeah, preying on the anxious I think.


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## deeps_10 (Mar 21, 2014)

Thanks for replies great information. 

Second question my wife will arrive from the UK and I go through the process of sponsoring her and getting residency. She won't be working as we have a newborn. What's the normal process of getting a debit card for her? 

Can we get a joint account or should I just give her my card. 

She is Canadian and only moved to the UK a year ago. We knew we were moving to Dubai, so rather than set up an account I just gave her a debit card (as I have two HSBC accounts in the UK) for the year and she used that. 

Dubai is more long term so would like to do whatever is the norm for getting her some plastic to live on. 

Cheers


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## expatteacher2014 (Mar 18, 2014)

HSBCs "International Banking Centre" were right on the ball when I spoke to them and incredibly helpful - why not give them a ring? 

FWIW, in my situation opening a joint a/c in advance of moving was not a problem.


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## expatteacher2014 (Mar 18, 2014)

Link ... now that I've hit 5 posts ... !

Overseas Account: open an account abroad | HSBC UK


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## twowheelsgood (Feb 21, 2013)

deeps_10 said:


> Can we get a joint account or should I just give her my card.


HSBC will only give out debit cards to named account holders but will give out credit cards to anyone you want on your account. To add a name to an account she must be resident so your wife will have to wait for residency to get her own debit card.

I never bothered, as she uses my Debit Card, and her credit card which she uses 90% of the time. They never look at credit card signatures as long as you know the PIN number.


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## sm105 (Jan 9, 2014)

londonmandan said:


> My company use ENBD, they came in and did everything for me. All I did was show passport and entry date stamp then the company wrote a salary certificate. Few days later card came.


Same here with EmiratesNBD. I just filled out the form (with passport copy, entry visa copy and salary certificate) and got an SMS the next day that my savings account was open together with an Aramex tracking number for the card delivery.

Now that I have my residence visa, I need to convert the savings account into a current account with checkbook (or open a current account in addition).


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## londonmandan (Jul 23, 2013)

sm105 said:


> Same here with EmiratesNBD. I just filled out the form (with passport copy, entry visa copy and salary certificate) and got an SMS the next day that my savings account was open together with an Aramex tracking number for the card delivery.
> 
> Now that I have my residence visa, I need to convert the savings account into a current account with checkbook (or open a current account in addition).


I also got a GBP account with my savings account


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## deeps_10 (Mar 21, 2014)

Dan why did you go for a GBP account? 

Do you get get paid in AED? 

If so then would you not lose money with the currency conversion?


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## londonmandan (Jul 23, 2013)

deeps_10 said:


> Dan why did you go for a GBP account?
> 
> Do you get get paid in AED?
> 
> If so then would you not lose money with the currency conversion?


I get paid in AED and it all goes to that account, for some reason though they opened me a GBP account as well, apparently it doesn't cost to transfer back home or exchange.


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## sm105 (Jan 9, 2014)

arabianhorse said:


> All banks here operate under Sharia Law. This means that at the end of ev ery year a certain percentage of all money deposited into that account has to be donated to a charitable cause.
> If you don't nominate one, the banks will take out a straight 8% of your total deposits.
> M
> No one minds, as its for a good cause.


:lol: :flypig: :lol:


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## Sparki (Mar 22, 2014)

Hi
I worked in a local bank for the past 2 years I'm fully aware of the processes.
best way to go about opening an account in your case is opening a saving account.
I recommend EmiratesNBD if you stay in Dubai as you can find ENBD ATMs/Branches everywhere across Dubai.

you can visit any EmiratesNBD branch with your original passport + Temp employment Visa (in case you don't have a visa, or have a tourism Visa, You might be asked for a recommendation letter from your home country bank.

Once the account is opened, you can submit a salary certificate & employment Visa (Original visa must be presented for validation) at the same branch to convert you account to a salary transfer account, then you can open a current account either at the same branch or Online. it will be free of charge.

That's about it buddy. you can as well reach Emirates NBD @ +971600540000 // EmiratesNBD.com


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## Sparki (Mar 22, 2014)

arabianhorse said:


> All banks here operate under Sharia Law. This means that at the end of ev ery year a certain percentage of all money deposited into that account has to be donated to a charitable cause.
> If you don't nominate one, the banks will take out a straight 8% of your total deposits.
> M
> No one minds, as its for a good cause.


All Banks?? that's absolutely not true.


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## kmdxb (Jan 19, 2014)

arabianhorse said:


> All banks here operate under Sharia Law. This means that at the end of ev ery year a certain percentage of all money deposited into that account has to be donated to a charitable cause.
> If you don't nominate one, the banks will take out a straight 8% of your total deposits.
> M
> No one minds, as its for a good cause.


Complete rubbish! I've had my accounts with Emirates since 2004 and RakBank since 2009, never has any such thing happened.

Not all banks are Sharia - there are some banks that only offer Sharia accounts (e.g. ADIB or DIB) and some banks that have accounts that are Sharia compliant and accounts that are not (e.g. HSBC or ENBD). You choose what sort of account you want when you open it. I don't have an sharia accounts, so I can't say for certain what happens in that instance, but I would have a hard time believing that just take 8% every year.


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## BedouGirl (Sep 15, 2011)

arabianhorse said:


> There's a new bank starting up soon that only takes 1% off. The bank contributes the other 7%. But its only open to restricted clientele. I'm happy to let you use my account with this bank. Just deposit your salariy and I'll transfer 99% back the very same day.


You should've written it in red


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