# HSBC loan able to pay from overseas? after resignation?



## Becky84 (Aug 16, 2013)

Hi,

I am new to loan as I have never applied before and would appreciate any insights into this. I just applied for a small loan from HSBC bank and I have the means to repay them. It was for personal use.

However, due to some personal issues, I need to resign in a few months time. I didn't expect that but now I have to make a choice. And I do not want to run away either because I think that is irresponsible and I believe in karma. So I was wondering if it's possible to repay the loan from overseas? Keeping my account here active and bank in money every month? I do know that the bank will be notify about visa cancellation and will that have an impact on travel ban? I was thinking of notifying the bank once out of country to let them know that I will still continue with the installment but I will not be in dubai.I want to do things the right way and now I am stuck with a dilemma.

any advice will be appreciated


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## saraswat (Apr 28, 2012)

I don't want to say get in touch with the bank, as I do know most of them are unscrupulous when it comes to these types of things. Maybe someone with a bit more info might be able offer insight. One thing I do want to add is that if you end up speaking with them, then be ready to be able to offer them some sort of collateral (by which I mean some sort of arrangement in the country you will be going to, maybe even with HSBC out there). Without that, I am not sure if the bank would just take you on your word and let you leave.


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## Becky84 (Aug 16, 2013)

that's what I was thinking. I was thinking once am outside of the country, call up HSBC and inform them about my situation and see if I can continue to repay my debt as HSBC is a global bank so I am sure the country where I will be going has it as well. I wonder if either I keep my account active in Dubai and continue to deposit money for repayment or if its possible to transfer to d branch overseas? Am lost


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## earthworm88 (Jun 14, 2013)

Becky84 said:


> that's what I was thinking. I was thinking once am outside of the country, call up HSBC and inform them about my situation and see if I can continue to repay my debt as HSBC is a global bank so I am sure the country where I will be going has it as well. I wonder if either I keep my account active in Dubai and continue to deposit money for repayment or if its possible to transfer to d branch overseas? Am lost


Even though the banks may share the same name, they are by no means all connected, unless you have HSBC premier/global but still your loans likely can't be transferred from one to the other. By law, you are supposed to have a valid residence visa in order to keep your bank account open. 



> I just applied for a small loan from HSBC bank and I have the means to repay them.


Not sure what I am missing, but since you have the means, why not just go ahead and repay the outstanding balance before you leave? When you employer cancels your visa, your bank may be notified especially if you have direct deposit or gratuity paid to that account. Let's just assume hypothetically you were able to get out of the country and inform HSBC of your intent later, but they don't accept and report you? You will automatically be blacklisted and banned, the only way could be that you will have to return in person to sort this out, you may be arrested at the airport and then have to go through all the hassles. 

Again, I have never experienced this personally and hope I never will. But it is a bit risky to go through the trouble which may end up being more troublesome than it is worth. I know some people did not cancel their bank accounts even after they left the country, but these people I know just had regular accounts and not loans, so it isn't much of an issue for both parties. Hopefully someone who has first hand experience or deals with this type of issues at the bank can shed some light for you. 

Good luck!


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## Canuck_Sens (Nov 16, 2010)

Becky,

when you get five posts lease write to me or check your email box...there is some grey area in this case.


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## Chocoholic (Oct 29, 2012)

Plenty of people leave the UAE but still have active accounts. It's a tough one. Technically you could leave and just keep sending money to your account every month, so long as payments are still going in - they really won't care that much.

With new laws, companies are now not obliged to tell your bank that your final payment is going in and banks are no longer allowed to freeze accounts either - which makes this sort of thing easier.

It used to be the case that you had to provide clearance letters from your bank that everything was paid off - but I don't think this is the case anymore. 

As CS says, lots of grey areas with this one and tricky which tack to take.


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