Expats from all around the world come to Dubai for official or business purposes. It has been noticed that many of them look for comfortable and enjoyable stay in Dubai. The longer stay often asks for some basic amenities in the Emirates like Banking in Dubai. It is one of the most significant, troublesome yet so simple processes in Dubai.
The wide presence of local and international banks and the low tax environment throughout the city makes banking a preferable choice in this part of the world. Expats often remain confused and hit a dilemma for choosing while Banking in Dubai and UAE. Here are some information that might help you to choose a bank that suits your needs for having a bank account in Dubai!
The very basis and primary information behind banking system are the required documentation to open a bank account. In Dubai, the process is rather hassling free and simple. The documentation required for opening an account is straightforward. Passport copy, photographs, UAE identification proofs like Driving License, Official address from the employer and no objection letter from the employer for a salary and title disclosure are the most important documents.
Some banks they might open you a bank account also if you don’t have a UAE residence visa but this is not a rule but the exception!
There are many worldwide banks and local banks in Dubai. International banks like HSBC, City Bank, Standard Chartered Bank, Royal Bank of Canada are well established in Dubai and also have a credible network of branches around the city. However, the smaller local banks cannot be overlooked as well. The UAE banks like Emirates NBD, Mashreq Bank, RAK Bank and Commercial Bank of Dubai, Dubai Bank, Dubai Islamic Bank, Noor Bank, First Gulf Bank also offer similar services and are strictly guided by the banking norms of the country. There is nothing to worry as the UAE central bank has strict rules in terms of bank structure and rules regulations.
While choosing a bank, it is important to understand the requirement of it. Almost all of the banks provide facilities like Credit Card, Debit Card, and Various Loans with the customer without any problematic process. However, one needs to set the priority right for the banking. If someone needs frequent banking internationally then going for an international bank is more suitable. One can also choose a bank according to the presence of the ATMs in the city. A bank must be chosen as per the availability. There are situations where the bank has special links up the employer and provides special services to the customer as well as part of the Banking in Dubai.
Choosing a bank is not a very hectic work instead it can be simple. One should find the reason of banking and pick the desired bank as per the requirement. There are many options and services available to the customers in the Dubai. Also, the banking guidelines of UAE ensures a good banking procedure.