I am looking into which bank to open an account with and I was wondering if there are any banks in Doha who have branches in the UK-i.e. HSBC, LloydsTSB.
We set up an amazing expat service here in Qatar. We will arrange all your cards and accounts before you arrive, plus a free handset and SIM card. Our international transfer rates are very competitive, and with a Sadara account, free. Usually any transfer will arrive in your overseas account within 48 hours. Visit http://www.cbq.qa/EN/Personal/Tailored-Packages/Pages/New-to-Qatar.aspx
Dweller - wrong. Lloyds TSB offshore credits money immediately. I even had cases when a transfer from QNB in the morning resulted in credit on my Lloyds offshore account next morning. It never took more than 2 days and it is due to the fact that all USD transfers of QNB go to Chase Manhattan first.
Jolene I use a currency broker as part of my business and may be able to help you with these fixed monthly transfers at little or no fee (not to me but to the currency xchange company). PM with details of how much and I will contact the people I use in London who do a lot of work with my clients for me.
I think the rule of thumb here is your account should not be less than 2500 for a month at a stretch. If its less than 30 days then I dont think they will charge you.
Just go into the money changers with enough cash and say that you want to transfer X amount of pounds to a UK account. You may be able to negotiate a better exchange rate than that shown on the board but that depends on the amount being transferred.
Give them the UK bank's name, address, sort code and the account number and name.
They will tell you how much you pay and give you a slip showing the transfer details and exchange rate.
The rate will be better than that offered by the banks.
I regularly used the Al-Saad exchange on Al-Saad Street and the money arrived in the UK within hours.
SOme banks do offer that. But its a privilege provided to the low-income people that also based on a letter from their employer. But the main thing is your minimum balance shouldnt fall below QR2500/ longer than a month. SO oif you manage your accounts then I dont think you will be below QR2500/ for a month at a stretch.
So basically setting up an account isn't too hard nor is transferring money overseas but I have to have QR5000 floating around that I don't ever need to spend so it can just sit in the bank doing nothing-oh joy of joys! Wonder if work will pay me cash-only joking!!!
Who would have thought that something that silly could be the end of my plans to move out there!?!
I'll keep researching in the hope I can come up with another idea!
Hi dweller, can you elaborate on how to use money changers, I havnt heard of it before. HSBC ends up costing me a fortune on my regular direct debit to the UK. For example, if I want to sent £1,500 they would take around QAR 10,666 out my account!
Everyone I know who has had an account there was unhappy. Try Commercial Bank. Opening an account is very straightforward and a rep will come to your office an do everything for you. You need the following:
1. A copy of your Resident's permit (if you have one). Otherwise tell them that the RP is in progress).
2. Letter from your employer stating your salary
3. Copies of your passport
I don't think there is a minimum balance requirement for Commercial Bank.
The account is et up the same or next day and you will get your credit and debit cards within a week. They also have internet banking that allows you to transfer money to banks overseas.
Everyone I know who has had an account there was unhappy. Try Commercial Bank. Opening an account is very straightforward and a rep will come to your office an do everything for you. You need the following:
1. A copy of your Resident's permit (if you have one). Otherwise tell them that the RP is in progress).
2. Letter from your employer stating your salary
3. Copies of your passport
I don't think there is a minimum balance requirement for Commercial Bank.
The account is et up the same or next day and you will get your credit and debit cards within a week. They also have internet banking that alows you to transfer money to banks overseas.
That is what Christopher Columbus discovered too. Too much money/gold to be carrying or to be deposit in the hull. In this case the deposit. Welcome to the middle east.
Well I've discovered that I can open and account in Qatar with HSBC but only if I have QR5000 to leave in there and never go below that amount. Unfortuantely I will only have my relocation money and that is already planned for things so is there any chance of opening a straight forward account in Qatar where you don't have to keep a minimum amount in there? Also I seem to need all this paperwork-did any of you have any problems opening accounts before your first pay is supposed to go in?
I recommend HSBC Off-shore - that way you can set up accounts in different currencies if you want and even take out foreign currency loans and mortgages if you're game.
When you eventually leave here to wherever you're from you shouldn't have to worry about closing/changing your accounts.
I transfer money from my QNB acct. in Qatar to my Lloyds TSB acct. in UK over the counter. You can do wire transfer from any bank in Doha, and the transfer fees (vary from bank to bank) are negligible.
each month through HSBC a set amount it just comes out our account each month, we dont even have to think about it, it just goes! there quite good hsbc!
Internet transfers aren't so good as I'll only have internet access via an interent cafe and I wanted it to be a regular amount going out the same time each month. Well I'll pop inot my local HSBc and see what they say. If it's not possible or too expensive I'll have to turn the job offer down. As I still have to pay my mortgage back home and that is more important. Thank you for all you help and I'll look into it today.
to Richard123-as I'm not in the country yet-'fraid I can't help you!
The best rates for sending cash to your home country are available at the money changers. It's quicker, cheaper and the rate is far better. Banks make a fortune out of transfers
Sorry to go off piste here but I noticed you are a dental nurse. Could you recommend a good dentist to check over my American teeth. I haven't been to the dentist in 1 year and am in need of a check up.
If you opt to use HSBC here and open a HSBC account in UK I presume internet transfers will be free. Perhaps open an online HSBC account in UK will will allow you to distribute funds there. Sounds like a lot of work but if making regular transfers it might be worth it.
Why dont you try with Local Banks like Doha Banks and others who have different prize and lucky draw schemes when you open an account with them. Who knows if You are gonna be a next Lucky winner.
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Hello this is Commercial Bank :)
We set up an amazing expat service here in Qatar. We will arrange all your cards and accounts before you arrive, plus a free handset and SIM card. Our international transfer rates are very competitive, and with a Sadara account, free. Usually any transfer will arrive in your overseas account within 48 hours. Visit http://www.cbq.qa/EN/Personal/Tailored-Packages/Pages/New-to-Qatar.aspx
Dweller - wrong. Lloyds TSB offshore credits money immediately. I even had cases when a transfer from QNB in the morning resulted in credit on my Lloyds offshore account next morning. It never took more than 2 days and it is due to the fact that all USD transfers of QNB go to Chase Manhattan first.
Jolene I use a currency broker as part of my business and may be able to help you with these fixed monthly transfers at little or no fee (not to me but to the currency xchange company). PM with details of how much and I will contact the people I use in London who do a lot of work with my clients for me.
Ree
and check the date of the post you think he will be waiting for your comment all this time :D
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try Standard Chartered
I think the rule of thumb here is your account should not be less than 2500 for a month at a stretch. If its less than 30 days then I dont think they will charge you.
Just go into the money changers with enough cash and say that you want to transfer X amount of pounds to a UK account. You may be able to negotiate a better exchange rate than that shown on the board but that depends on the amount being transferred.
Give them the UK bank's name, address, sort code and the account number and name.
They will tell you how much you pay and give you a slip showing the transfer details and exchange rate.
The rate will be better than that offered by the banks.
I regularly used the Al-Saad exchange on Al-Saad Street and the money arrived in the UK within hours.
It's easy for you to say!
After sending money home for my mortgage I only have Q2000 to live off! Good job work cover pretty much everything!
So I will just have to pay the Q10 charge a month as there is no way I can live without that Q2500!
I am not bound to please thee with my answers.
William Shakespeare
SOme banks do offer that. But its a privilege provided to the low-income people that also based on a letter from their employer. But the main thing is your minimum balance shouldnt fall below QR2500/ longer than a month. SO oif you manage your accounts then I dont think you will be below QR2500/ for a month at a stretch.
I heard some banks offer to open a savings account for as low as 500QRs.
Commercial bank requires a minimum balance of QR2500/-. Thats all.
Ignore that last post!!
I've discovered that Commercial Bank needs less money as a minimum balance so I think I can afford it! Yeah!!
I should stop being so negative and expecting things to go wrong and mess this up!
'I am not bound to please thee with my answers.'
William Shakespeare
I am not bound to please thee with my answers.
William Shakespeare
Greatest English dramatist & poet (1564 - 1616)
So basically setting up an account isn't too hard nor is transferring money overseas but I have to have QR5000 floating around that I don't ever need to spend so it can just sit in the bank doing nothing-oh joy of joys! Wonder if work will pay me cash-only joking!!!
Who would have thought that something that silly could be the end of my plans to move out there!?!
I'll keep researching in the hope I can come up with another idea!
'I am not bound to please thee with my answers.'
William Shakespeare
Hi dweller, can you elaborate on how to use money changers, I havnt heard of it before. HSBC ends up costing me a fortune on my regular direct debit to the UK. For example, if I want to sent £1,500 they would take around QAR 10,666 out my account!
There is a minimu balance required in Commercial Bank. Overall their service is good.
Everyone I know who has had an account there was unhappy. Try Commercial Bank. Opening an account is very straightforward and a rep will come to your office an do everything for you. You need the following:
1. A copy of your Resident's permit (if you have one). Otherwise tell them that the RP is in progress).
2. Letter from your employer stating your salary
3. Copies of your passport
I don't think there is a minimum balance requirement for Commercial Bank.
The account is et up the same or next day and you will get your credit and debit cards within a week. They also have internet banking that allows you to transfer money to banks overseas.
Everyone I know who has had an account there was unhappy. Try Commercial Bank. Opening an account is very straightforward and a rep will come to your office an do everything for you. You need the following:
1. A copy of your Resident's permit (if you have one). Otherwise tell them that the RP is in progress).
2. Letter from your employer stating your salary
3. Copies of your passport
I don't think there is a minimum balance requirement for Commercial Bank.
The account is et up the same or next day and you will get your credit and debit cards within a week. They also have internet banking that alows you to transfer money to banks overseas.
That is what Christopher Columbus discovered too. Too much money/gold to be carrying or to be deposit in the hull. In this case the deposit. Welcome to the middle east.
Well I've discovered that I can open and account in Qatar with HSBC but only if I have QR5000 to leave in there and never go below that amount. Unfortuantely I will only have my relocation money and that is already planned for things so is there any chance of opening a straight forward account in Qatar where you don't have to keep a minimum amount in there? Also I seem to need all this paperwork-did any of you have any problems opening accounts before your first pay is supposed to go in?
I am not bound to please thee with my answers.
William Shakespeare
And have you sussed out yet how much Lloyds charge you to "receive" the money that they hold on to for 3 days?
Not only do you pay to send it but for them to receive it too.
I recommend HSBC Off-shore - that way you can set up accounts in different currencies if you want and even take out foreign currency loans and mortgages if you're game.
When you eventually leave here to wherever you're from you shouldn't have to worry about closing/changing your accounts.
I transfer money from my QNB acct. in Qatar to my Lloyds TSB acct. in UK over the counter. You can do wire transfer from any bank in Doha, and the transfer fees (vary from bank to bank) are negligible.
each month through HSBC a set amount it just comes out our account each month, we dont even have to think about it, it just goes! there quite good hsbc!
Flip!! It's all so difficult!!
Internet transfers aren't so good as I'll only have internet access via an interent cafe and I wanted it to be a regular amount going out the same time each month. Well I'll pop inot my local HSBc and see what they say. If it's not possible or too expensive I'll have to turn the job offer down. As I still have to pay my mortgage back home and that is more important. Thank you for all you help and I'll look into it today.
to Richard123-as I'm not in the country yet-'fraid I can't help you!
i need a good dentist too havent been in years and know i need quite a bit of work!! let us know!
Banks make profit of exchange and tranfering charge at same time
The best rates for sending cash to your home country are available at the money changers. It's quicker, cheaper and the rate is far better. Banks make a fortune out of transfers
Sorry to go off piste here but I noticed you are a dental nurse. Could you recommend a good dentist to check over my American teeth. I haven't been to the dentist in 1 year and am in need of a check up.
If you opt to use HSBC here and open a HSBC account in UK I presume internet transfers will be free. Perhaps open an online HSBC account in UK will will allow you to distribute funds there. Sounds like a lot of work but if making regular transfers it might be worth it.
I use Commercial Bank and can send money via the website to any overseas bank.
So if there isn't much choice banks wise-anyone any ideas how I can send money home each month??
Oooops duplicated.....sorry
No there isn't but I am sure they will be looking into opening one.
Never ones to miss the chance of screwing someone new
Manu, she was looking for a bank which has a branch in UK and not for the bank with draws/lucky numbers etc. If you want a draw, play a lottery.
Why dont you try with Local Banks like Doha Banks and others who have different prize and lucky draw schemes when you open an account with them. Who knows if You are gonna be a next Lucky winner.
Is there one in Doha?
Thank you guys.
Its better to call on customer care and find out the facilities and make clear your doubts..
HSBC banks have the same name but they are different banks. They are not branchs of the same bank as it is different for each country.
Don't expect a great service from Lloyds/TSB
Remember this motto to live by:
"Life should NOT be a journey to the grave with the intention of arriving
safely in an attractive and well preserved body, but rather to skid in
sideways, chocolate in one hand martini in the other screaming oh what a ride"
There is HSBC and Standard Chartered.