Advice on personal loans / UAE banking?
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Written on: 03.11.2009 [18:28]
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Maxwell
Maxwell
Topic creator
Posts: 2
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Can anyone offer some advice on bank accounts and personal loans (UAE)? I have to go to Dubai for a year on business and I need a bank account and perhaps a loan to cover additional costs. Should I set up some kind of international account in the UK or can anyone recommend a bank? |
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Written on: 05.11.2009 [16:16]
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Bethany
Bethany
Posts: 9
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If you're only going for a year you could set everything up in the UK and then just manage the accounts from Dubai. With internet and telephone banking you shouldn't face any big problems. The only thing might be the added cost of currency conversions and international withdrawals if you need to take cash out of your UK account in the UAE... HSBC and Barclays both operate in UK and UAE though, so they may be able to work something out for you! I think it makes more sense to do it that way, rather than spend time and money setting up an account in the UAE only to close it one year later. |
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Written on: 13.11.2009 [10:47]
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Shalin
Shalin
Posts: 3
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I disagree, i mean, you are going to be there for a year right, you are going to have to set up an account of some sort so why not save the bother of all the internet banking problems that yould go wrong and just set it up there? Paying for rent, a phone contract etc all requires a bank account usually within the country and dont forget the commission fees you will end up paying taking money out abroad all the time, its just simpler to get an account there. However for the loan i would say take it out in the UK and then just transfer the money over as i am not sure if you would be able to get a loan after just landing in the country..... |
