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Banking

The numerous local and international banks offer all the usual banking services with some offering offshore banking. There are no government restrictions on the international transfer of funds into or out of the country.

There are many UAE banking options available in Dubai. It is recommended that a local bank account is setup as use of banks and credit cards from your home country can charge interest up to 3%. Your salary is typically paid into the bank account of your choice in the UAE the last day of each month.

If desired Move One can help you open up a bankĀ  account. In order to open a bank account there are three main documents you will need: a photocopy of your passport, a photocopy of your residency card, and a passport size photograph. Some may ask for more details on home country address and current address.

Bank (ATM) machines are located throughout Dubai in bank facilities and in shopping malls and grocery stores. It is important to note that in the UAE you cannot stop a check once it has been written. Many businesses do not accept personal checks although post dated checks are often used to pay car loans, personal loans and villa/apartment rent. Banks offer major credit cards such as Master-card and Visa.

If you decide to retain the credit card that was issued in your country of origin, it is a good idea to notify the issuing bank. If you do not notify the bank of your change of address, you risk having your debit/credit card stopped by the bank due to a sudden and unexpected profile/geographical change.



3 Responses to “Banking”

  1. Cortes says:

    How easy is it to transfer money from Dubai, to my home country?
    What options do I have?
    Thanks!

  2. Bob says:

    You can do the same via Online Banking and is quite simple. I came across a site called souqalmal.com and they seem to have a lot of details on the charges of international transfers across UAE banks. You might want to check it out.

  3. amanda young says:

    Thanks, that is extremely helpful


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