| What is the local currency? |
| The unit of currency is the UAE Dirham (Dh) to which there are 100 fils. |
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| What denominations does it come in? |
| The Dirham is available in denominations of 5, 10, 50, 100, 200, 500 and 1,000 notes and in 25 fils, 50 fils and 1 Dirham coins. |
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| What is the best way to exchange currency? |
| Either through banks or foreign exchange offices. Hotels offer money exchange but their rates are high. |
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| What are commonly-used forms of payment for everyday purchases (such as groceries)? |
| Cash & credit cards (Visa, Eurocard, Diners Club, MasterCard, American Express) |
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| Will I be able to use my credit card around town? If not, list when I’ll need cash. |
| Credit cards are widely accepted although it is recommended that you take cash with you when shopping at the Souqs (markets) |
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| By what method are bills (such as rent and utilities) paid? |
| Rent is usually paid by cheque. Utility bills are payable in several ways: by cash to the local DEWA (Dubai Electricity & Water Authority) office, via banking machines (your local bank can make the payment on your behalf and they will deduct the amount from your account) and over the Internet |
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| What are the requirements for opening a bank account? At what stage of the settling-in process should I open it? |
| You will need your passport with visa (or the application underway), work contract or No Objection Letter from your sponsor and a document that can identify you as a local resident, such as a utility bill or driver's license. Most banks have a set minimum account limit raging from DHS 2,000 to DHS 10,000 |
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| Will foreign residents be able to find banking services in their native languages? |
| The majority of the banking services are in English and/or Arabic. |
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| Are there any restrictions on services for those who are new to your country? |
| Non-residents are not able to open bank accounts |
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| What are typical banking hours? |
| Banking hours are generally Saturday to Wednesday (8:00 a.m. to 15:30 p.m.) & Thursdays from 8:00 a.m. to 14:00 p.m. Some banks open in the evening but please check with your local institution |
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| Are automatic teller machines (ATMs) available around the clock? |
| Absolutely. Most ATM cards are compatible with other UAE based banks. |
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| Is there any other money information that might help me? |
| Due to the diverse requirements of the residents of Dubai, facilities here are comparable to those found in large cities around the world |
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| Useful Links |
Thomas Cook/ Al Rostamani Currency Exchange
www.tcookrostamani.com
Citibank UAE
www.citibank.com/uae
HSBC UAE
www.hsbc.ae
National Bank of Dubai
www.nbd.com |