Dubai Forums Dubai Expat Forums Dubai Expat Help Forum

Hi all,

Just another post before I head over to Dubai (will be there in a month now!).

Does anyone know if there is a way to get a UAE based bank account that will avoid international fees when you transfer money back to your country of origin?

I have a mortgage in Australia but my employer in Dubai will only place my pay into a local (Dubai based) bank account. That means everytime I want to transfer money over to my home loan/mortgage account, I will get charged fees.


Is there a way around this?

Also, does anyone know if a local bank in Dubai will lend a resident the money to purchase a property in another country?

I would ideally like to refinance my mortgage in Australia with a Dubai based bank, and don't know if they do this.

Thanks again! You guys have been very helpful so far...

Carlo wrote:Is there a way around this?

No.

Search the forum this has been discussed alot, i beleive HSBC has some sort of deal if you have two accounts with them one here and one in Australia .. not sure of the details though. As i said if you search the forum this has been discussed alot.

MaaaD wrote:Search the forum this has been discussed alot, i beleive HSBC has some sort of deal if you have two accounts with them one here and one in Australia .. not sure of the details though. As i said if you search the forum this has been discussed alot.

Nope, I looked into this, not possible. You can work hard to reduce the fee, but it still costs money.

Ok maybe it was to the UK .. they just dont like Australians

MaaaD wrote:Ok maybe it was to the UK .. they just dont like Australians

Yes, especially now we send OUR convicts to the UK, not the other way around.

I know someone with some sort of VIP account (pay an extra 100 dhs per month or something) that includes 1 free transfer per month. I thought it was HSBC.

I have an HSBC Status account and this gives me 1 free international transfer per month.

HSBC Premier accounts offer free international transfers for amounts in excess of GBP 2,000.

Carlo wrote:Hi all,

Just another post before I head over to Dubai (will be there in a month now!).

Does anyone know if there is a way to get a UAE based bank account that will avoid international fees when you transfer money back to your country of origin?

I have a mortgage in Australia but my employer in Dubai will only place my pay into a local (Dubai based) bank account. That means everytime I want to transfer money over to my home loan/mortgage account, I will get charged fees.


Is there a way around this?

Also, does anyone know if a local bank in Dubai will lend a resident the money to purchase a property in another country?

I would ideally like to refinance my mortgage in Australia with a Dubai based bank, and don't know if they do this.
Thanks again! You guys have been very helpful so far...

In case you are still interested, I have contacts at an international bank that will allow Dubai residents to borrow against properties in many other countries, including Australia. Very attractive interest rates from 5.5%, so much lower than Aussie rates.