# Bank account options for UK expat in Dubai?



## Emanef (Dec 19, 2012)

Hi guys

Another newbie question....! We're due to move out in a few weeks and are looking at options for banking. We have a HSBC account in the UK and they're said they do an expat type account which makes it easier to move money between currencies, although looking at the charges we're not sure that there's much benefit from their account. 

Does anyone know of other bank it might be worth looking at so we can have an account in UAE but be able to move money to sterling and make withdrawals abroad without too much charge on top of currency conversion loss? 

Thanks!


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## blazeaway (Sep 28, 2011)

Emanef said:


> Hi guys
> 
> Another newbie question....! We're due to move out in a few weeks and are looking at options for banking. We have a HSBC account in the UK and they're said they do an expat type account which makes it easier to move money between currencies, although looking at the charges we're not sure that there's much benefit from their account.
> 
> ...


I'm using ADCB, they currency rates etc are better than my UK bank and service leaves UK standing


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## FlexRay (Feb 12, 2013)

I too am new in Dubai, i am awaiting to be sponsored by my wife so until that process is finished i will not be able to get a local HSBC Account

I went to the HSBC Jumeirah branch and equired about a non residents savings account which i learned on here i could get which supplies me with a ATM card but no cheque book. HSBC said its a very complicated process and i would be better contacting HSBC International and they would open a a local account from the UK which is an easier process. I have still to do this as i think im just gonna wait til the visa is confirmed.

You are going to loose money with any bank trassfer when currency is concerned, people on here will advise you to use these companies like money corp or western union.


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## vantage (May 10, 2012)

get info from ELPHABA on here.
I bank with Emirates NBD, with no problems so far.

The usual advice is to avoid using the banks for transfers back to Sterling, as the rates are not as favourable as other options, regardless who you bank with.


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## Mr Rossi (May 16, 2009)

HSBC here are a pain, I was forced to use them when they bought out Llyods. I've gone from a business bank account to one that has the same features as the "junior super saver" account I had when I was 15.

Emirates NBD seem to be ok, but I've heard they can be troublesome if you change jobs etc.


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## Stevesolar (Dec 21, 2012)

Emanef said:


> Hi guys
> 
> Another newbie question....! We're due to move out in a few weeks and are looking at options for banking. We have a HSBC account in the UK and they're said they do an expat type account which makes it easier to move money between currencies, although looking at the charges we're not sure that there's much benefit from their account.
> 
> ...


As I have posted before - I do not bank with the offshore division of my UK bank.

This keeps our life in Dubai totally financially separate from our life in the UK.

If things go pear shaped in either country - you dont then have the same bank chasing you for problems in both countries (especially with the tougher laws and penalties in UAE regarding banking issues).

We use the currency exchange houses to send money to UK - sent 4950 AED on Monday this week and £861.05 landed in my Barclays account Tuesday afternoon - very simple and straightforward!

Cheers

Steve


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## HamishUK (Oct 20, 2009)

As has been said by others the UAE franchises of UK banks are vastly inferior to the UAE banks.

Personally I use NBAD and could not be happier.

Any bank will allow you to transfer money to the UK, however I use Dubai Foreign Exchange Rates ~ Currency Money, UK Transfer Specialists as they give you ~1-2% or so better rate than the bank which means you get hundreds of pounds more on a 10,000 pound + transfer. Plus they have friendly service and no commission.

Other factors for choosing a bank are:
Which bank does your company use? Using the same bank will mean you get paid a couple of days earlier

Which branches are near where you live/work and how busy are they? Life in the UAE needs lots of bank visits: Paying in cheques, salary certificates, etc always need visits.


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## Emanef (Dec 19, 2012)

Thanks for the replies guys, that's some really useful information for us to look at!


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## mrsm (Aug 5, 2011)

Stevesolar said:


> As I have posted before - I do not bank with the offshore division of my UK bank.
> 
> This keeps our life in Dubai totally financially separate from our life in the UK.
> 
> ...


Standard chartered don't charge for transfers to uk with their salary account, although the receiving bank will.


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## nikkisizer (Aug 20, 2011)

Hello Emanef,

When I first moved out here many years ago as I banked with Lloyds in the UK I thought that having an account with Lloyds here too would make things easier but quickly discovered it was of no benefit at all.

I then moved to a local bank here, Emirates NBD, and can recommend them as I have not had any problems.

Good luck!


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## XDoodlebugger (Jan 24, 2012)

I'd keep all my money in the tax free haven of Cyprus


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## After_Shock (Sep 16, 2012)

Stevesolar said:


> We use the currency exchange houses to send money to UK - sent 4950 AED on Monday this week and £861.05 landed in my Barclays account Tuesday afternoon - very simple and straightforward!


Any of the currency exchange houses you would suggest to use? 

Also what information do they need, literally just u.k account and sort code number or must you have the IBAN code aswell?

Forgot to get the IBAN before I left but im assuming can call up and get it over the phone from the u.k!

Also my dads out here next week was just thinking of giving him some cash to take back depending on the rates to exchange back in the u.k.


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## After_Shock (Sep 16, 2012)

After_Shock said:


> Also my dads out here next week was just thinking of giving him some cash to take back depending on the rates to exchange back in the u.k.


Scrap that idea, just looked at the rates as have been meaning to for some time, terrible!!!


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## ACertainRomance (Jun 21, 2013)

sorry to resurrect an older thread but..... ive been here a few days now and am just awaiting for my emirates NBD account to open. How can i get my money from my uK account to my dubai one??

I have some money in a halifax account that i want to transfer over to buy goodies such as furniture and so on but literally have no idea how to do this at present..

a google search shows plenty of ways of getting it back to the uk but what about getting it into dubai...?


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## blazeaway (Sep 28, 2011)

ACertainRomance said:


> sorry to resurrect an older thread but..... ive been here a few days now and am just awaiting for my emirates NBD account to open. How can i get my money from my uK account to my dubai one??
> 
> I have some money in a halifax account that i want to transfer over to buy goodies such as furniture and so on but literally have no idea how to do this at present..
> 
> a google search shows plenty of ways of getting it back to the uk but what about getting it into dubai...?


Transfer?


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## twowheelsgood (Feb 21, 2013)

Yup - standard bank transfer.

You need the IBAN details of the new account and simply transfer from your UK account.


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## ACertainRomance (Jun 21, 2013)

superb cheers. Wasnt sure if a standard transfer would work.


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## imac (Oct 14, 2012)

Although it may be cheaper for you to see if you could get a loan from your employer for setup costs... depending on how much you move, with what you will lose in the exchange rate conversion you could probably buy a decent microwave...


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## ACertainRomance (Jun 21, 2013)

Whilst my employer is paying rent i still need to pay the fees so im gonna have to transfer something over... not to mention shopping etc..

Employer is emirates..


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## fcjb1970 (Apr 30, 2010)

ACertainRomance said:


> sorry to resurrect an older thread but..... ive been here a few days now and am just awaiting for my emirates NBD account to open. How can i get my money from my uK account to my dubai one??
> 
> I have some money in a halifax account that i want to transfer over to buy goodies such as furniture and so on but literally have no idea how to do this at present..
> 
> a google search shows plenty of ways of getting it back to the uk but what about getting it into dubai...?


Wait and save, or try for an employer loan. It is a failure of the entire purpose of being here if you are transferring money from home to here.


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## imac (Oct 14, 2012)

ACertainRomance said:


> Whilst my employer is paying rent i still need to pay the fees so im gonna have to transfer something over... not to mention shopping etc..
> 
> Employer is emirates..


Well, depending on what you need, why not just withdraw it directly from an ATM? 

If your debit card limit allows this - you may be able to get your bank to bump it up for a while if the limit is low, most bank customer service can do this over the phone - If you are willing to pay charges, its quite convenient.

I have taken out AED 5000 once using my CAN debit card through a Citibank ATM, got charged CAD 5 from my bank for an international withdrawal, plus got dinged on the conversion rate a bit...


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## ACertainRomance (Jun 21, 2013)

fcjb1970 said:


> Wait and save, or try for an employer loan. It is a failure of the entire purpose of being here if you are transferring money from home to here.


Cant expect the employer to pay my groceries plus every day expenses, need cash initially ti get setup and then i can start to recuperate any losses...


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## fcjb1970 (Apr 30, 2010)

ACertainRomance said:


> Cant expect the employer to pay my groceries plus every day expenses, need cash initially ti get setup and then i can start to recuperate any losses...


Sure you can, I got a salary advance that I paid off over the next three months when I first moved here


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## ACertainRomance (Jun 21, 2013)

fcjb1970 said:


> Sure you can, I got a salary advance that I paid off over the next three months when I first moved here


and ive been given that as well... but still..... there's always extras..


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