Frozen bank account/starting a new job | ExpatWoman.com
 

Frozen bank account/starting a new job

8965
Posts
EW MASTER
Latest post on 30 June 2013 - 15:36
Resigned from a job in banking and got account frozen despite of not having a loan OR a credit card with them. They kept it frozen for 30days. Lawyer friend says its not something that should be done but its just one of those things that can be done, each company to their own I guess. I dont own a credit card from any bank here, have one from a bank in the UK, Im just too afraid of my own money being frozen again and not being able to pay a card off, ,etc...Also a very good idea to keep money in an account overseas that you always have access to ;-) edited by mcsk on 30/06/2013 I have 2 bank accounts purely because of this
315
Posts
EW EXPLORER
Latest post on 30 June 2013 - 15:35
Resigned from a job in banking and got account frozen despite of not having a loan OR a credit card with them. They kept it frozen for 30days. Lawyer friend says its not something that should be done but its just one of those things that can be done, each company to their own I guess. I dont own a credit card from any bank here, have one from a bank in the UK, Im just too afraid of my own money being frozen again and not being able to pay a card off, ,etc...Also a very good idea to keep money in an account overseas that you always have access to ;-) <em>edited by mcsk on 30/06/2013</em>
2725
Posts
EW EXPERT
Latest post on 30 June 2013 - 00:05
We dont bank with NBD but hubby took his new offer letter, and once he received his new visa he produced copies, his bank didnt freeze the account, we had a car loan at the time aswell.
4747
Posts
EW MASTER
Latest post on 29 June 2013 - 23:47
Hello ladies, Just wondering if anyone can help me to clarify something. I am leaving an old job for a new job, and I have both a loan and credit card with Emirates NBD. I have spoken with the bank, and understand that once my visa is cancelled, and my end of service benefits transferred to my account they will freeze it until I can produce the new visa from my new employer. I don't trust the banks here, and wanted to get some advice if any of you can help. I am terrified that they will immediately apply ALL of my end of service benefits to my outstanding debt. So say I owe XYD on my loan, and XYD on my credit card. Will they take XYD end of service benefits and use it to settle those two debts, or will they only freeze it like they have said they would, and then release the funds to me when I have my new visa? The bank keeps telling me yes, but as I said I don't trust them! I need to be able to count on the fact that once my new visa is issued I will have access to that money. Has anyone had a similar experience (frozen bank account) here, and can you tell me what happened? edited by sleeplessindubai on 28/06/2013 yes they can, they can freeze your account, or they can take a sum of money on hold to cover any credit card bill for 45 days etc, if you have a loan etc then because your visa status is changing they can actually demand you pay it back etc.
1042
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EW OLDHAND
Latest post on 29 June 2013 - 17:23
Same thing as Madge here. DH changed jobs in January. He took his new salary certificate to the bank before his visa for his previous company was cancelled to advise them he had a new job. They never even froze his account. The new visa was as expected slow to come but there were not any problems with the bank. He has accounts with HSBC and Emirates NBD. He only has a credit card with HSBC though and no loans. He does work in a free zone however his new visa was transferred to a different free zone in a different emirate. I would suggest getting a salary certificate as soon as possible and taking it to the bank before your visa is cancelled if possible. Otherwise a job offer or any evidence of your new job may help.
841
Posts
EW GURU
Latest post on 28 June 2013 - 22:26
When DH changed jobs, all he had to do to unfreeze his account was provide the bank with a salary certificate from his new company. No new visa required. Then again, he was moving companies within a free zone, so he's sponsored by the free zone authority and not the company he works for. <em>edited by Madge_Gustard on 28/06/2013</em>
136
Posts
EW NEWBIE
Latest post on 28 June 2013 - 12:15
Sleeplessindubai, I know exactly how you feel as I am going through the exact same thing myself. I spent all of yesterday running around between my current employer, the banks and my new employer trying to ensure I have some money to live on. What the bank will do is to immediately freeze your account/cards until you can produce a new visa page and salary letter from your new employer. They will take the relevant payments out of the frozen amount (loan, credit card) until it is unfrozen. They have told me they will take the amount due, not the entire amount. I have taken all my money out so it won't be frozen as well. I am trying to do a deal with them as I have 3 months salary plus my gratuity and flight money being paid in, so will have no money coming in until the end of September. What I am trying to get them to do is to freeze the gratuity and airfare and release the salary so I can live! I won't know until the payment goes into my account if I have been successful or not. It's a wait and see game - one I don't like being a player in! Good luck and I hope you get things sorted out.
1050
Posts
EW OLDHAND
Latest post on 28 June 2013 - 09:10
Yes they can and it happened to me when I left my last job. The company advised the bank that it was my final settlement and they froze everything. Despite owing less than 1000 on the credit card they froze all my savings and my gratuity, so I couldn't even pay off the credit card. After speaking with the bank, many times over, we came to an agreement to freeze the credit card only and enough to cover the limit on my card so I could access my account. Which is an oxymoron because the card was frozen so I couldn't use it anyway! I was in a complete flap because my rent cheque was also due, once I had a new visa and a letter from my employer all was good. On the other hand when DH finished at his last job there was no notification by his employer to the bank that it was his final settlement so he didn't have his account frozen, but just in case he took out enough cash to cover living and other expenses so he wasn't caught out.
4
Posts
EW NEWBIE
Latest post on 28 June 2013 - 01:25
Hello ladies, Just wondering if anyone can help me to clarify something. I am leaving an old job for a new job, and I have both a loan and credit card with Emirates NBD. I have spoken with the bank, and understand that once my visa is cancelled, and my end of service benefits transferred to my account they will freeze it until I can produce the new visa from my new employer. I don't trust the banks here, and wanted to get some advice if any of you can help. I am terrified that they will immediately apply ALL of my end of service benefits to my outstanding debt. So say I owe XYD on my loan, and XYD on my credit card. Will they take XYD end of service benefits and use it to settle those two debts, or will they only freeze it like they have said they would, and then release the funds to me when I have my new visa? The bank keeps telling me yes, but as I said I don't trust them! I need to be able to count on the fact that once my new visa is issued I will have access to that money. Has anyone had a similar experience (frozen bank account) here, and can you tell me what happened? <em>edited by sleeplessindubai on 28/06/2013</em>
 
 

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