Dubai Forums Dubai Expat Forums Dubai Expat Help Forum

Hi,

we are looking for a reputable bank in the UAE, good for expats. The bank should be no US bank , the best is, if it would be based in Europe but it could be also are very well known UAE bank. It should have accessible branches in Dubai (preferably Marina) and credit card and check services.
Did you have ever heard of Habib bank Zurich and what do you think of it?

Habib bank is relatively small in the UAE. Didn't deal with them but I dunno any one who did as well.

European banks despite how reputable they would be may not have the same reputation in the UAE. For example ABN-Amro is a total disaster.

I'm not sure why you need a European-based bank. R u planning to use it to wire money back home. That wouldn't be a problem since there are zillions of currency exchange offices you can use.

I suggest HSBC or a big local bank like Commercial Bank of Dubai (www.cbd.ae)

Habib Bank Zurich is a Pakistani bank, which doesn't have more than a few branches (I've only seen one) in Dubai. I would totally suggest not to bank with them.

HSBC is good but I've seen very poor customer service issues with them, some of which is outright mind boggling according to western standards.

Local banks (based in UAE), I've heard aren't that good as far customer service is concerned. This is only in comparison to western banks.

I think Standard Chartered bank is a good bank.

From my experience in dealing with Dubai banks, the best one in comparison right now is probably Emirates Bank. Yes, they have inferior customer service but they do have a top notch online banking in which you can do almost all of your banking activities. Plus they have the largest number of ATMs, after merging with NBD!

Tommy

I would any day recommend a local bank. Foreign banks are quite mercenary and service is no where compared to what they offer in their home country or even in other 'developed' countries where they operate. Not that any local bank is different but on observation one comes to the conclusion that they have a better branch network, product offering and flexible approach and their technology is atleast one generation ahead of the foreign banks.

Some good local banks which come to my mind are Emirates NBD, Mashreq, ADCB and Dubai bank.

All Dubai banks are much the same in the end - what I mean is you'll get annoyed sooner or later with any of them. Foreign branches are not really branches - they're set up indepndently of the main bank anyway. I'd look for one with a branch close by, good opening hours, and main branch is based in Dubai or Abu Dhabi, perhaps RAK Bank is ok.

I am a newbie here. Do I need a work visa in order to open a bank account in Dubai? Thanks

I just scanned through that sent by Bonk and it listed credit cards as 30-40% interest rate.

Forget it!

MaggieLam wrote:I am a newbie here. Do I need a work visa in order to open a bank account in Dubai? Thanks

I opened a Status Account with HSBC on Thursday without my Visa. However it IS being processed and my employer wrote them a letter saying this. They are happy as long as the letter notes how much monthly income you get and that the visa is pending.

seardarren wrote:I just scanned through that sent by Bonk and it listed credit cards as 30-40% interest rate.

Forget it!

Not all of them, some are less than 20% . But it depends also how you calculate it. What the bank says they'll charge, and the actual percentage rate you pay may not be the same after adding in fees, and how the charge is applied.

I would suggest Emirates NBD would be quite ok comparitively. Never try Barclays Bank. I have closed my account and they are very very rude to me. Even when I was their customer, they are also very very rude. Bad Bad.. =(

national bank of dubai and (or) emirates bank..they both r the same.

mashreq bank too is a good option. but both these banks arent based out of europe