What is the local currency?
The unit of currency is the UAE Dirham (Dh) to which there are 100 fils.
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.
What is the best way to exchange currency?
Either through banks or foreign exchange offices. Hotels offer money exchange but their rates are high.
What are commonly-used forms of payment for everyday purchases (such as groceries)?
Cash and credit cards (Visa, Eurocard, Diners Club, MasterCard, American Express).
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).
By what method are bills (such as rent and utilities) paid?
Rent is usually paid by check. 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.
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.
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.
Are there any restrictions on services for those who are new to your country?
Non-residents are not able to open bank accounts.
What are typical banking hours?
Banking hours are generally Saturday to Wednesday from 8:00 a.m. to 3:30 p.m. and Thursdays from 8:00 a.m. to 2:00 p.m. Some banks open in the evening, but please check with your local institution.
Are automatic teller machines (ATMs) available around the clock?
Absolutely. Most ATM cards are compatible with other UAE-based banks.
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.
Crown Relocations has made every effort to present accurate information. However, regulations, rates and other variables are subject to change and Crown Relocations cannot accept responsibility for the errors that might result. Should you have any questions or need additional information, please contact your local Crown representative.