UAE current account and foreign transactions

[liroyb]

Question for those who opened UAE bank account as residents and stay in UAE only few days per year to maintain residence visa - If you're using UAE personal bank account for your living expenses while living abroad most of the time, is there a risk of getting the account closed if the bank see too many foreign transactions for a long period of time?

 

[Fred]

liroyb said:
Question for those who opened UAE bank account as residents and stay in UAE only few days per year to maintain residence visa - If you're using UAE personal bank account for your living expenses while living abroad most of the time, is there a risk of getting the account closed if the bank see too many foreign transactions for a long period of time?
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No - there isn't a risk.

But it only makes sense as you have some banks who actually just target non-residents like Banks in the Isle of Man, Jersey, Switzerland and Liechtenstein.

@JackAlabama is an existing client since more then 2 years and can for sure confirm the same.

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[JackAlabama]

Fred said:
No - there isn't a risk.

But it only makes sense as you have some banks who actually just target non-residents like Banks in the Isle of Man, Jersey, Switzerland and Liechtenstein.

@JackAlabama is an existing client since more then 2 years and can for sure confirm the same.
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Yah. confirming this. There are 0 problems in real life.
Sidenote: I also never faced issues with banks from other popular offshore destinations.

However one pays fx fees / atm withdrawal fees etc abroad (normally). So (if possible) one can fancy to get some local payment solution wherever one is spending extended time if one cares to save those fees.

 

[liroyb]

Fred said:
No - there isn't a risk.

But it only makes sense as you have some banks who actually just target non-residents like Banks in the Isle of Man, Jersey, Switzerland and Liechtenstein.

@JackAlabama is an existing client since more then 2 years and can for sure confirm the same.
Click to expand...

Thanks for sharing, appreciate your help. If you need to choose between UAE local bank to Channel Islands as current account solution for your typical client profile (UAE as financial center while living somewhere else most of the time), which would you prefer?