Received a SMS message from First Abu Dhabi Bank, UAE "we need more information on transactions on your credit card / FAB account..."

[5K1PP3R]

extremedox101 said:
why you don't try to call them from another number then let them know about your registered number and confirm your identity in the call .
or contact your account manager to sort out your problem.
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I can't call them, there is no way to talk to the operator, only voice robot.
I don't have any account manager, there is some old email from a "Sales Executive Liabilities Telesales" but the +971-04-565 9027 doesn't answer.
They don't answer emails.
Ridiculous this FAB

 

[ShillGates]

you sure it is not a scam? plenty of them around from the central bank of the uae. Does your bank account still work? if so, ignore

 

[5K1PP3R]

OffMyBack said:
you sure it is not a scam? plenty of them around from the central bank of the uae. Does your bank account still work? if so, ignore
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doesn't look like a scam. There is no link, just tells me to visit the branch or contact my manager which I don't have

wow I managed to speak with a person there finally. They said they will email my branch and tell them to connect with me using email. Let's see

Last edited: Mar 20, 2023

 

[Mike Forman]

Why not just visit the branch and talk to them, ask what exactly they need. If you don't respond within a certain time, mostly 30 days they might close the account

 

[5K1PP3R]

Mike Forman said:
Why not just visit the branch and talk to them, ask what exactly they need. If you don't respond within a certain time, mostly 30 days they might close the account
Click to expand...

I am oversees

 

[5K1PP3R]

Finally received an email from the FAB bank. They want source of income, which is fine, I will send them dividend resolution. But they also want docs about outgoing transactions:

Provide complete details & purpose of IPI Transfer of total AED XXXXXX made to XXX Technologies along with supporting documents . Also confirm what is the relationship with the mentioned counterparty ?
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What are my best options? What if I tell them the truth I was buying USDT via Binance P2P? Investing in Bitcoin?

 

[Martin Everson]

5K1PP3R said:
What are my best options?
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1. Tell the truth as you don't know how much they already know.
2. Make a false statement on the transaction, hence commit wilful fraud and/or money laundering and pay the potential price in UAE.


Depending on your choice your looking at potentially nothing happens, through to fine, visa revocation up to to jail time. Honesty is always best no matter the cost.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Mike Forman]

5K1PP3R said:
Finally received an email from the FAB bank. They want source of income, which is fine, I will send them dividend resolution. But they also want docs about outgoing transactions:



What are my best options? What if I tell them the truth I was buying USDT via Binance P2P? Investing in Bitcoin?
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There is a big chance they already know what is going on but they offer the chance to explain.

If you don't tell them anything or a false reason your account for sure will be closed. Buying bitcoin is not a crime for a bank but may be against their policies or beyond their risk appetite. They can then still close the account, there are other banks in UAE you can open a new account if that's the case.

 

[Fred]

5K1PP3R said:
What are my best options? What if I tell them the truth I was buying USDT via Binance P2P? Investing in Bitcoin?
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To be honest - they close down the account - avoid.

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[5K1PP3R]

Fred said:
To be honest - they close down the account - avoid.
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But what can I tell them?

 

[scooterguy]

My understanding is that with FAB you need to buy/sell crypto through an exchange, P2P is not allowed.

Maybe withdraw a huge chunk of your money and then tell them some vague truth, like 'ah that is Binance probably'?

 

[NicolasMaduro]

Be honest and tell them you didnt know if it is an issue, but it wont happen again. If they close your acccount you have so many other bank acccount options in UAE?

 

[5K1PP3R]

NicolasMaduro said:
Be honest and tell them you didnt know if it is an issue, but it wont happen again. If they close your acccount you have so many other bank acccount options in UAE?
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Thanks for the advice. Do you have first hand experience?

Not many options for Russians. NBD was taking ages, refused two times. They did call to come again but I was already overseas. Not sure what else can I try.
If they close account how long do they give to transfer my money out. I hope they are not freezing it.

Also this: "Available Limit of the Day: AED 100,000.00", damn it

 

[Mike Forman]

You violated terms while knowing that could lead to issues. Most banks and EMI don't want to take risks with crypto.

In some jurisdictions they block the account if they suspect anything or you dint provide them the info they requested (or worse you gave false info they find out), this can then take a few months to get back access to the finds. If they just close the account without immediate suspensions they will inform you and you have 30 days to move out all your funds.

Unless someone here or in private can give you advice on being dishonest with little risk I believe you have to accept that this is account is gone

 

[5K1PP3R]

Mike Forman said:
You violated terms while knowing that could lead to issues. Most banks and EMI don't want to take risks with crypto.

In some jurisdictions they block the account if they suspect anything or you dint provide them the info they requested (or worse you gave false info they find out), this can then take a few months to get back access to the finds. If they just close the account without immediate suspensions they will inform you and you have 30 days to move out all your funds.

Unless someone here or in private can give you advice on being dishonest with little risk I believe you have to accept that this is account is gone
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Are you sure I don't see any conditions
https://www.google.com/search?q=sit...conditions-consolidated+crypto|cryptocurrency
Does anyone knows how to lift 100000 AED daily limit for transfers?

 

[5K1PP3R]

The seller recommends to tell FAB that I was buying Amazon Gift cards at discount from them. They say it worked with other clients.
As if I am buying 5000 AED cards for 4965 AED.
They are ready to give Purchase Invoices.
Can this work?

 

[scooterguy]

What if you call the bank using an anonymous number, pretend to be a new customer, and ask if P2P through Binance is allowed?

Because according to Binance they support P2P with FAB: Binance P2P Supports New Payment Methods for MENA | Binance Support.

If it's allowed, not sure why this should be an issue, especially if you did with a personal account (it would be different with a corporate account though).

 

[5K1PP3R]

scooterguy said:
Because according to Binance they support P2P with FAB: Binance P2P Supports New Payment Methods for MENA | Binance Support.
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that doesn't mean FAB allows it. Binance also have Wise and Revolut in the dropdown. That's just a UI feature

scooterguy said:
What if you call the bank using an anonymous number, pretend to be a new customer, and ask if P2P through Binance is allowed?
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That's a good idea. But in the current world the customer support doesn't know s**t. Even the compliance officer who is checking me now probably doesn't know the outcome if I tell them either it was USDT or Amazon cards. That's a world we live in

 

[NgonBoRe]

5K1PP3R said:
that doesn't mean FAB allows it. Binance also have Wise and Revolut in the dropdown. That's just a UI feature


That's a good idea. But in the current world the customer support doesn't know s**t. Even the compliance officer who is checking me now probably doesn't know the outcome if I tell them either it was USDT or Amazon cards. That's a world we live in
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Is there any update on it bro? I want to known cause I'm starting trading on biannce p2p with my Personal account now. Many thanks

 

[Lord Palmerstone]

uplana said:
If they will accept it by e-mail or not is easy to ask them about!

If you provide honest answers to them you won't have difficulties to provide documentation. Unless you have spend the money on hookers, drugs or firearms. Or had a dinner with Putin.
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Just to address your fears - in UAE you CAN have dinner with Putin as he is definitely NOT personna non grata here.
Secondly to spend your money on hookers here is completely normal and will be thought of as quite normal.