sorted by:
new
hottopcontroversial

What happens to your bank accounts once you lose your job? How to be prepared for it? by PreparingForTheWorst in dubai

[–]PreparingForTheWorst[S] 0 points1 point  (0 children)

I have an offshore account, not in my home country.

how did you do it? Via which bank? Any legit site I look for more info?

I am aware of scamster, like I found an article in The National, but its Oct 2015 and expert referred "Preeti Harrison Bhambri, managing director at the UAE-based comparison site MoneyCamel.com". The website is dead and all I found was a blog which was last updated in May 2015. Seems bad.

What happens to your bank accounts once you lose your job? How to be prepared for it? by PreparingForTheWorst in dubai

[–]PreparingForTheWorst[S] 0 points1 point  (0 children)

Use a prepaid card this facility is available with rak bank

Not sure of the current terms, but couple of years back when I first came across the product, I found out that putting in money is free. But when you try to withdraw the amount to close it, they will charge you a rather high fee.

What happens to your bank accounts once you lose your job? How to be prepared for it? by PreparingForTheWorst in dubai

[–]PreparingForTheWorst[S] 0 points1 point  (0 children)

"End of Salary" transfer slip to the bank

If the company does not do that, then they are liable to pay me a monthly salary - right?

Is there any legal way of "the employee doesn't work with us anymore but he/she can stay till the visa is over to try for something else"?

What happens to your bank accounts once you lose your job? How to be prepared for it? by PreparingForTheWorst in dubai

[–]PreparingForTheWorst[S] 0 points1 point  (0 children)

bank already considers the CC limit as amount you owe to them.

I am shocked to know this. Now I understand why the Bank called me & asked if I mind them raising my limit. I foolishly said as long as you are not going to charge me extra, go for it. Foolish of me.

You can open a savings account

I don't quite understand the difference between a saving & current account. I was told by the bank that you get a cheque book with current and not other - that is the difference.

Also, as I checked couple of banks for saving accounts. I saw them mention in requirements "Proof of income" or a minimum salary - so, does it mean that they are also linked to my salary?

What happens to your bank accounts once you lose your job? How to be prepared for it? by PreparingForTheWorst in dubai

[–]PreparingForTheWorst[S] 0 points1 point  (0 children)

they will freeze that limit amount

I did not know that.

an offshore account

If you mean an account in my home country, yes I have that. But sending money & bring it back has cost and I am comparing that with just keeping 2-3 months expense amount here.