Any experiences with larger sums of money transiting UAE banks
Thread Starter
Join Date: Aug 1998
Location: the ridge where the west commences
Posts: 770
Likes: 0
Received 0 Likes
on
0 Posts
Any experiences with larger sums of money transiting UAE banks
I will conclude a property deal, the result of which will be several million dirhams dropping into my Dubai bank.
I wish to wire that sum out of Dubai immediately. Has anyone perhaps seen a case where a substantially-larger-than-normal amount transiting one's account causes delays whilst the bank queries the provenance of the funds?
I am sure many of you have experienced the manifold joys of dealing with these numpties, so you will understand my concern.
I wish to wire that sum out of Dubai immediately. Has anyone perhaps seen a case where a substantially-larger-than-normal amount transiting one's account causes delays whilst the bank queries the provenance of the funds?
I am sure many of you have experienced the manifold joys of dealing with these numpties, so you will understand my concern.
short flights long nights
Agree with Bacon, don't use the banks exchange rate. Ever. Never ever.
Join Date: Feb 2008
Location: S E Asia
Posts: 198
Likes: 0
Received 0 Likes
on
0 Posts
Dropp,
Similar experience but nearly two years ago now, so things may have changed. Slight delay in the transfer due to need to get UAE Central Bank approval - not more than a few days though.
7B
Similar experience but nearly two years ago now, so things may have changed. Slight delay in the transfer due to need to get UAE Central Bank approval - not more than a few days though.
7B
Join Date: Mar 2016
Location: Kuwait
Posts: 67
Likes: 0
Received 0 Likes
on
0 Posts
Unless there is some reason that is not apparent I would question the wisdom of transferring any significant sum of money to a bank account in the Middle East.
If the source of funds is also in the Middle East then why not direct that the funds be transferred to a foreign account. If the source of funds is not in the Middle East then why bring those funds here?
If the source of funds is also in the Middle East then why not direct that the funds be transferred to a foreign account. If the source of funds is not in the Middle East then why bring those funds here?