# Banks In Dubai



## tahir29 (Mar 13, 2014)

Hi guys, 

Can anyone recommend a hassle free bank which also allows to send money to UK with minimum charge please? 

I've been advised HSBC, if so are HSBC any good? as my salary will also be paid into my new account (once opened) as I've been advised my HR to find a new bank. 

Thanks


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## rsinner (Feb 3, 2009)

You may find that sending money through banks is expensive (poor interest rates) even when the transfer charges are nil. If you search the forum there are many recommended FX service providers. 

Coming back to the question: you should use a bank which has a reasonable number of ATMs and branches (sometimes needed), reasonable CCs (helps), allows bill payments for utilities, and provides financing when needed, good online banking (critical). 

HSBC is okay but too few branches. I see ENBD being recommended a lot. have used ADCB and like them a lot.

My pet peeve with HSBC is that you have a physical device to generate a token to log in to internet banking if you want to do a number of things (not just view the account) including transfers etc. BIG PAIN.


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## Sunder (Mar 11, 2014)

I use ENBD and more than happy with them. Lots of branches, lots of ATM's and they give lots of discounts while dining outside.

One of my friends has HSBC, for any trivial issue he needs to go to Al Ghubaiba.

For transfer to the UK, FOREX houses are the best.


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## UKMS (Jan 9, 2017)

I’ve banked with HSBC for 30+ years in the UK and now in UAE. Always found them very good and serve my needs well. For me the smaller number of branches is not an issue as I rarely need to go to a branch, I do everything online or worst case by phone. That said they clearly aren’t for everyone, so I’m not singing their praises from the rooftops. If you bank with them in your home country you can make instant transfers between accounts which may not be the best exchange rate but it’s quick and you know your money is safe. I’m always wary of forex companies, some are unregulated and professionally I’ve dealt with scenarios where people have lost a lot of money which disappears into a black hole all because they want to make a few extra £’s on the exchange rate. As for the HSBC key generator .... it may be a pain but it’s secure. My wife has accounts with ADIB and has been very happy also.


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## rsinner (Feb 3, 2009)

UKMS said:


> As for the HSBC key generator .... it may be a pain but it’s secure.


I never have it with me when I need it! Most banks which want you to login with two factor authentication have moved to mobile key generator apps. I am sure HSBC will take YEARS before they do that. 
Another pet peeve (or two): I bought something using the HSBC credit card on 3/6 month instalment at 0%. it is IMPOSSIBLE to figure out what the amount due is in a given month. (ADCB lay out EXACTLY how much you need to pay). CC payments take till the end of day to get reflected - ADCB does this instantaneously. HSBC allows relatively fewer bill payments for utility providers (but seem to have added to the list - earlier it used to be ZERO)



UKMS said:


> My wife has accounts with ADIB and has been very happy also.


Switched to them recently out of necessity. Initial interactions haven't been great and the website is very basic and not as good as ADCB's (transactions do not get updated till the end of day; online transfers locally have always taken 1 business day while ADCB does in a few hours; adding names for bank transfers has no 2 factor authentication and feels insecure; managers cheques took 1 week to be generated).

Keeping my fingers crossed that they will positively surprise me.

Having said all of this, ENBD seems to be as good from what I have heard. Also choose a bank your company is listed with - helps immensely.


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## Toons (Nov 28, 2016)

Having just moved here i was shocked at how poor the banking system is here. The man who opened the account for us was telling us this as we filled out the forms. We opened an account with HSBC and it was as slow as a wet week. The staff never filed our documents and they where left in the boot of his car. And then the bloody cheque book...! In my 35 years i've never had a cheque book. As for transferring money dont use the banks even if they say its free. They just put the fee on the spread so it looks like its free. Use some of the online companies like Tranferwise or Revolut.


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## Dave-o (Aug 23, 2015)

rsinner said:


> I never have it with me when I need it! Most banks which want you to login with two factor authentication have moved to mobile key generator apps. I am sure HSBC will take YEARS before they do that.


They already have the mobile key generator. I replaced my keyring key generators over a year ago with the mobile version, it's more secure because you can use a longer password, but also less secure because it relies on your phone company, it's chips, the OS etc keeping the device secure.

I don't mind HSBC, opened the Dubai account in the UK and it was ready when we got here, never had an issue that requires going into a branch in the 3 years I've been here. I assume I'll be able to close it remotely when I move back home.

Wouldn't ever transfer money between the UAE and UK accounts through HSBC, it's convenient but you don't half pay for it.


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## tahir29 (Mar 13, 2014)

Thanks guys for the advice


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## rsinner (Feb 3, 2009)

Dave-o said:


> They already have the mobile key generator. I replaced my keyring key generators over a year ago with the mobile version, it's more secure because you can use a longer password, but also less secure because it relies on your phone company, it's chips, the OS etc keeping the device secure.


Are you sure it was HSBC UAE? They do not have mobile key generators.

From their website:


> Why can't I use my mobile phone to generate a security number to log on with, rather than have to carry a Secure Key with me?
> Secure Key has been uniquely designed for HSBC as a sealed, tamper proof unit which makes it very difficult for an attacker to compromise. The nature of modern mobile phones, with their ability to download software, makes it much more difficult to guarantee the same level of robust security found on the physical device. The Secure Key has been developed to be small enough to easily fit a purse or wallet which we hope makes this method of access as convenient as possible.


https://www.hsbc.ae/1/2/personal/why-hsbc/ways-to-bank-with-us/personal-internet-banking/secure-key


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## UKMS (Jan 9, 2017)

rsinner said:


> Are you sure it was HSBC UAE? They do not have mobile key generators.
> 
> From their website:
> 
> ...


You can do a lot of everyday transactions on the HSBC mobile app that do not require a key .... you either login using a long password or the UAE version now uses FaceID on iPhone X or TouchID on other iOS devices this has been the case for quite a long while. You can view all your accounts, transfer money, pay bills (pre setup) etc ..... there are still some functions requiring the key. I use it daily.

There is a digital secure key for customers who also have accounts in U K ..... this allows you to access your global view and perform transactions without a physical key.


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## kiniser (Dec 19, 2013)

UKMS said:


> You can do a lot of everyday transactions on the HSBC mobile app that do not require a key .... you either login using a long password or the UAE version now uses FaceID on iPhone X or TouchID on other iOS devices this has been the case for quite a long while. You can view all your accounts, transfer money, pay bills (pre setup) etc ..... there are still some functions requiring the key. I use it daily.
> 
> There is a digital secure key for customers who also have accounts in U K ..... this allows you to access your global view and perform transactions without a physical key.


Customer Service is really bad at HSBC..... They are not as generous as the other banks in terms of waiving fees. There was one time, i withdrew cash from my Credit Card by mistake because HSBC's debt and credit card do look alike. They wouldn't reverse the withdrawel fee nor the finance charges on the credit card.... I simply close myaccount and move on to ADCB....


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## twowheelsgood (Feb 21, 2013)

kiniser said:


> Customer Service is really bad at HSBC..... They are not as generous as the other banks in terms of waiving fees. There was one time, i withdrew cash from my Credit Card by mistake because HSBC's debt and credit card do look alike. They wouldn't reverse the withdrawel fee nor the finance charges on the credit card.... I simply close myaccount and move on to ADCB....


So you judge a bank by how much it lets you get away with paying for your own mistakes ? And it was one time ?

Customer Service is fine at HSBC as long as you are not trying to take the proverbial and asking them to pay for your mistakes.


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## JackLeTap (Jan 20, 2018)

My wife has a HSBC account and hasn't had any issues - plus they provide quite a few perks for free (she got it through her company so may be why). Have not had to deal with customer services yet so cannot comment on that but from reading the general consensus is that's its poor.


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## Adeelkhan (Jan 21, 2018)

I would recommend ENBD. Everything available on online banking and many branches in Dubai.


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