Salary account - which bank would you recommend? | ExpatWoman.com
 

Salary account - which bank would you recommend?

33
Posts
EW NEWBIE
Latest post on 15 January 2015 - 14:58

Friends, I am new to Dubai and getting settled. I have been asked to choose any bank for salary transfer. Would someone please help me based on your experience?

Anonymous (not verified)
0
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EW NEWBIE
Latest post on 19 January 2015 - 16:41
If considering HSBC its useful to know that they have recently introduced a new policy towards customers who do not use their credit and finance facilities, if you have an account there and do not take out a loan, owe money on a credit card or mortgage they are likely to unilaterally close your account without notice and send you a cheque with your balance after a couple of weeks. This just happened to someone I know in Dubai and he was locked out of all his funds due to the sudden closure of his account for this reason and without even giving an explanation. Apparently Citi Bank are also enforcing the same policy. Beware. A good customer to them is not someone who is in the black. edited by chezmoi on 19/01/2015 Yes, one of the other members here also posted about a friend going through the same. Stick with a local bank, much better.
409
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EW EXPLORER
Latest post on 19 January 2015 - 16:22
I have found Emirates NBD to be really good and the plus point is that they have a branch local to my office so makes things a bit easier when I need to go to the bank. ADCB can be a bit difficult sometimes to deal with, unless you are very wealthy and have an Account Manager. I would stick with a local bank as they tend to offer better rates for credit, savings or other financial service. The large well known UK banks such as HSBC are not linked to the bank network back in the UK so for me there doesn't seem to be any benefit of using them here. I would check which bank your company uses and see if there is a branch local to you and then go with that one.
203
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EW NEWBIE
Latest post on 19 January 2015 - 11:09
I use ADCB and DH uses HSBC. We have had issues with both, but overall they serve a purpose. With the ADCB card (which both of us have) you can get points which convert into Etihad air miles; got us a few cheap trips to London.
4000
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EW MASTER
Latest post on 19 January 2015 - 10:57
If considering HSBC its useful to know that they have recently introduced a new policy towards customers who do not use their credit and finance facilities, if you have an account there and do not take out a loan, owe money on a credit card or mortgage they are likely to unilaterally close your account without notice and send you a cheque with your balance after a couple of weeks. This just happened to someone I know in Dubai and he was locked out of all his funds due to the sudden closure of his account for this reason and without even giving an explanation. Apparently Citi Bank are also enforcing the same policy. Beware. A good customer to them is not someone who is in the black. <em>edited by chezmoi on 19/01/2015</em>
3376
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EW MASTER
Latest post on 16 January 2015 - 22:51
Just to reiterate why I love banking with Noor. I just made a purchase over the internet for some denim on a US website here at 10pm local time. Cost 300 dhs, They called my mobile 5 minutes after the purchase to confirm that I myself made the purchase. I find this invaluable! I am afraid every bank does that. Enbd and citi do it for sure. that's great, then :)
1184
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EW OLDHAND
Latest post on 16 January 2015 - 22:39
Just to reiterate why I love banking with Noor. I just made a purchase over the internet for some denim on a US website here at 10pm local time. Cost 300 dhs, They called my mobile 5 minutes after the purchase to confirm that I myself made the purchase. I find this invaluable! I am afraid every bank does that. Enbd and citi do it for sure.
3376
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EW MASTER
Latest post on 16 January 2015 - 22:20
Just to reiterate why I love banking with Noor. I just made a purchase over the internet for some denim on a US website here at 10pm local time. Cost 300 dhs, They called my mobile 5 minutes after the purchase to confirm that I myself made the purchase. I find this invaluable!
326
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EW EXPLORER
Latest post on 16 January 2015 - 10:36
ENBD. It is the merger of two flagship local banks, Emirates and National Bank of Dubai (the building of which is on the 1 dirham coin). Not that those are reasons to bank with them but I prefer them as banking has been very straightforward, no bells or whistles. Or why not ask yor company who they bank with? As if you bank with the same bank, salary transfers will be quicker and there is less chance of any 'inter-transfer delays' near holidays.
184
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EW NEWBIE
Latest post on 16 January 2015 - 10:23
UNB ( Union National Bank ) are excellent and their customer service is also very good ... avoid HSBC .....
3376
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EW MASTER
Latest post on 16 January 2015 - 09:44
I am happy with Noor Bank, and have been with them for 4 years, as that is where my employer at the time banked--salaries hit faster. Their customer service is awesome. My only gripe is a lack of ATMs--they are not that many compared to something like Emirates NBD, so I may switch one day. Have heard great things all around about them for personal banking and have a ton of locations.
1184
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EW OLDHAND
Latest post on 16 January 2015 - 09:12
I recommend using a big local bank. The biggest plus is they have branches everywhere ( especially emirates nbd), whereas international ones have only 1 or very few. The other interesting benefit is while international banks kept mortgage rates high during the crisis times, local banks had much better rates. Local banks seem less greedy to me! And btw, international ones are also "local", having an hsbc account here would not be treated differently than any other account, when you walk into an hsbc branch elsewhere on earth. I recommend emirates nbd.
685
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EW GURU
Latest post on 15 January 2015 - 22:51
ENBD or mashreq bank. However if it's just for salary transfer I would find out what bank my employer is banking with and open an account in the same bank that the salary is going to come out from. Inter bank transfers usually are processed faster.
Anonymous (not verified)
0
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EW NEWBIE
Latest post on 15 January 2015 - 21:27
I had an ENBD account, their customer service is really good. ADIB is really good too, have been with them for a year and so far very happy with them.
8965
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EW MASTER
Latest post on 15 January 2015 - 16:06
ADCB are apparently the best. ENBD is very popular, as it HSBC Avoid ADIB - just awful Apparently I have never heard of these banks (except HSBC) outside UAE. So just curious to know what difference they make? Of course not, most are local banks. None what so ever to be honest, if you bank with HSBC in the UK then they offer some offers, but not many. I don't so it made no difference to me. They are all regulated by the Financial Services. These are probably some of the biggest banks in the world now. Standard Chartered is another one. I think the big banks here HSBC/Lloyds etc are regulated by the FSA ( In Jersey) for offshore accounts on. Regular accounts by the Central Bank ( Once again I think so and don't know for definite)
8965
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EW MASTER
Latest post on 15 January 2015 - 15:55
ADCB are apparently the best. ENBD is very popular, as it HSBC Avoid ADIB - just awful Apparently I have never heard of these banks (except HSBC) outside UAE. So just curious to know what difference they make? Customer Service usually. I use ENBD and they have been great ( 3 years with them) some of the others are shocking with regards to their customer service and should be avoided.
4423
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EW MASTER
Latest post on 15 January 2015 - 15:31
ADCB are apparently the best. ENBD is very popular, as it HSBC Avoid ADIB - just awful Apparently I have never heard of these banks (except HSBC) outside UAE. So just curious to know what difference they make? Of course not, most are local banks. None what so ever to be honest, if you bank with HSBC in the UK then they offer some offers, but not many. I don't so it made no difference to me. They are all regulated by the Financial Services. These are probably some of the biggest banks in the world now. Standard Chartered is another one.
33
Posts
EW NEWBIE
Latest post on 15 January 2015 - 15:14
ADCB are apparently the best. ENBD is very popular, as it HSBC Avoid ADIB - just awful Apparently I have never heard of these banks (except HSBC) outside UAE. So just curious to know what difference they make?
4423
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EW MASTER
Latest post on 15 January 2015 - 15:10
ADCB are apparently the best. ENBD is very popular, as it HSBC Avoid ADIB - just awful
 
 

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