UAE Law or Grasping Bank ?

[gardenshed]

Just been down to Lloyds here in Dubai to find I have been charged 25Dhs for having less than 3000 Dhs in my account.
They say UAE requires this as a minimum amount to remain in the account even though as a EK pilot I thought our accounts had no minimum fee.
Your thoughts please.:ugh:

[Trader]

Call them and remind them you are with EPC. They should reverse it.

[777boyindubai]

Grasping Bank. Write to the manager. I am sure they will reverse it. Idiots!!

[woodja51]

Dont be too sure they will reverse it.. that is what it used to be like but they changed their TnCs recently.

I got charged it the other day too ( first time in 12 years) and thought I would do something about it but bit lazy and not got to it yet.

And I have a 1.9 mortgage with them and have had around 400 000 dirhams move thru the account in the last few months but it only has to drop below 3k ( I thought it was 5actually) and there you go , 25 chips thanks

it means that if you did nothing they would steal all your money eventually - of course they lock the account as dormant before then but you get the drift.

BANKS ARE A GREATER THREAT TO A MANS FREEDOM THAN STANDING ARMIES" paraphrased but Thomas Jefferson said this in 1776 or similar - google it for the exact facts...

WJA

[gardenshed]

Any of you guys with HSBC etc do you have this problem, just trying to get a few facts before I go down there and go off on one, if I discover that they are lining their pockets at my expense.:mad:
Thanks in advance.

[Rotaiva]

Same with Mashreq; my 'visible cash' frequently drops below that amount with no charge!

[helen-damnation]

Just spoken to Lloyds. Apparently the EK deal is discounts on loans and mortgages but the 25AED charge is "required by law" (curent account only).

Apparently it applies to all banks, so you're :mad: whoever you bank with. Watch out for those back charges :hmm:

[helen-damnation]

Further to the previous, just had a letter from Lloyds informing me they are changing the IOM accounts and fees.

If you have less than 2,500 pounds in your account, you will be charged 20 pounds for each month it happens.

Are HSBC or others doing the same?

[BigGeordie]

Standard Chartered in Dubai also charge 25Dhs a month (used to be 200!) if the balance drops below 3,000 Dhs. This is waived if you bring in a salary transfer letter.