Arsalan Qalandar’s Post

Beware of Misleading Credit Card Promotions: My Experience with First Abu Dhabi Bank (FAB) - Dubai First cash back credit card. I want to share an experience I recently had with FAB Bank's Dubai First Cash Back Credit Card, which I believe serves as a cautionary tale for others. A sales representative named Basit from FAB Bank contacted me, offering what seemed like an excellent deal. Since I was a previous customer who had closed the same card two years ago, he informed me that I was eligible for a special promotion: the card would be free for life (waiving the AED 399 annual membership fee), and I would receive a AED 1,000 cashback as a joining bonus. Given the attractive offer, I decided to proceed. However, shortly after receiving the card, I was charged the annual membership fee, and the promised cashback never arrived, even after a month had passed. I contacted the bank, and a representative named Anna from the corporate office assured me she would help reverse the charges and ensure the cashback reward was credited to my account. Unfortunately, she too has since disappeared, and my attempts to resolve the issue with the call center have been met with refusal and dismissiveness. I can’t help but feel this may be part of a larger issue, potentially affecting many others. It’s important for everyone to be vigilant and to thoroughly verify any promotions offered by financial institutions. Misleading practices can easily catch unsuspecting customers off guard. Please share this post to raise awareness and protect others from falling into similar traps. #CustomerExperience #Banking #CreditCard #FABBank #Dubai #ConsumerProtection

I Tried The Best Banks in Dubai So, banking in Dubai is a pretty big deal. I mean, when you open a company here to pay 0% in tax, you obviously want to have good banking. You want access to international transfers, local transfers, cash deposits, and smooth payment processors. Below are the ones I personally like, and I'll tell you the pros and cons. My Top Banks in Dubai: 1. Rack Bank Pros: No large initial deposit required, straightforward setup process. Cons: The online interface feels outdated. 2. Emirates NBD (Emirates National Bank of Dubai) Pros: Comprehensive range of services. Cons: Often needs a big initial deposit (around 500,000 AED). 3. FAB (First Abu Dhabi Bank) Pros: Strong government backing, plenty of branches. Cons: You might need to visit in person for major updates. 4. Wio Bank Pros: Fully digital, easy to open, no large deposit needed, government-backed. Cons: Entirely digital, so if you need to deposit cash, use FAB for that. What makes Dubai banks the best? • You can hold accounts in multiple currencies without high forex fees. • Sending and receiving large sums is simple. • Banks here are less leveraged and require collateral for credit, making them safer.

Top 10 Apps I Use ~ Finance EDITION (As a 20-Year Old) 1. Trading 212 (My Stocks & Shares ISA) Honestly probably the easiest platforms to start your investment journey. 2. Monzo Bank (General everyday money transfers. I don't really keep much of my cash here) 3. PayPal (Only really for paying people through my business) 4. American Express (Gold, Platinum & British Airways Premium Card - racking up as many points as I can to use on flights) 5. Experian (So important to check your credit score regularly!) 6. Allica Bank (Business bank account, which has over 4% savings interest rate) 7. Wio Bank (My main bank account in the UAE. 5% savings interest rate) 8. Barclays (I use the Avios card, whenever AMEX isn't accepted) 9. Curve (Probably a very underrated app. Allows you to pay off a credit card, with a credit card. You can go back in time and switch payment methods. No FX charges on cards that normally charge high rates. + more) 10. HSBC (Global Money Account & Current Account. For me, it beats any other currency conversions when transferring from UAE to UK) #finance #education #university #student

🚨 Struggling to open a business bank account in Dubai? You’re not alone. Discover the top challenges that could be holding you back! 🚨 Here's our new content series that gets into the groove of how Dubai's banking operates. More in-depth coming soon from next week, stay tuned! We are going to provide a hassle-free service and help you open your corporate bank account! #DubaiBanking #BusinessBankingUAE #BankingChallenges #SummitUpConsultancy #DubaiBusiness

Open a Business Bank Account in the UAE – Hassle-Free Uncertain about navigating the complexities of opening a business bank account in the UAE? AB Capital Services can help! We specialize in assisting businesses of all nationalities, across all Emirates, and with any trade license or business activity. Our team of experts will guide you through the entire process, ensuring a smooth and successful bank account opening – guaranteed. Benefits of Using AB Capital Services: * Simplified Process: We handle the paperwork and communication with banks, saving you valuable time and effort. * Guaranteed Approval: Our proven track record ensures your business bank account gets approved. * Nationwide Support: We assist businesses across all Emirates in the UAE. * Open to All: Regardless of your nationality, business activity, or trade license type, we can help. Focus on Your Business, We'll Handle the Banking Let AB Capital Services take care of your business bank account opening needs in the UAE. Contact us today and get started AB Capital Services +971 52 365 5193 info@abcapital.ae #BusinessBankAccounts #UAΕ #OpenABusinessAccount #GuaranteedApproval #Emirates #AllNationalities #AllBusinessActivities #SimplifyBanking

Payments continue to remain broken in the UAE— a small anecdote. So I booked a cleaner for 2 hours but she didn't have cash change. The total amount came to AED60. I was eventually asked to pay to a bank account. - Opened my Wio Bank app - Adding in the IBAN digits took about 2-3 attempts because of entry errors. - Adding the beneficiary from my bank app will take 4 hours because of the cooling-off period. - I was asked to take a video selfie to verify myself. - Now I'll have to log into my bank app to make the actual transaction of AED60 after 4 hours. - Payee may receive the funds D+1 if the transaction happens after banking hours. You can quickly see why Instant payments become the most viable payment option for such transactions. Al Etihad Payments with the Aani product can become a game-changer for low-value payments with a pay-to-mobile option. Unfortunately, Wio Bank has a broken Aani registration process. Alternatively, a wallet-based payment solution like Whizmo or Botim could come into play to allow instant funds transfer. Why are UAE banks not aggressively pushing for Instant payment rails? Is there a trade-off between security and compliance at play? As evident above, there is a significant pain point for payments of low-value directly into bank accounts. I'm keen to hear your thoughts on this in the comments. What needs to change to adopt instant payments? #InstantPayments #UAE #Transactions #openbanking Jan Pilbauer Eric Karobia Amro Elsayed Jayesh Patel Wood Gitobu Andrea Cianchetti

🚀 Exciting News Alert! 🚀 We’re thrilled to announce the release of our latest innovation: Digital Personal Finance! 🌟 In today's customer centric fast-paced world, convenience is key, and our new digital finance aims to revolutionize the borrowing experience. With just a few clicks, users can now access hassle-free financing on the go!! Dynamic customer empowerment to check their eligibility, provided with their maximum amount based on their credit worthiness, select the amount and period, granting them with: ✅ Seamless application process ✅ Instant pre-approval ✅ Dynamic repayment options ✅ 24/7 access to finance information At this first release we aim to make borrowing easier, faster, and more convenient than ever before. A new journey has started to embrace the future of lending 📈🌳 Thanking all team members who contributed towards this exciting start 🔝 And more updates are on the way ⏩ National Bank of Bahrain #closer_to_you #level_up #DigitalLoans #Innovation #Convenience #FinanceRevolution

We get it—navigating the UAE’s banking system can feel like you're stuck in a maze. But don’t worry, we’re here to clear the path and get your business bank account opened quickly and effortlessly! Here’s how we make it happen: Smooth Sailing on Documentation 📂: We handle all paperwork, from A to Z, ensuring nothing falls through the cracks. No more back-and-forth with banks! Expert Guidance on Bank Selection 🏦: Not all banks are created equal. We’ll match you with the right bank based on your industry, transactions, and needs. Swift Compliance & KYC Clearance ✅: Skip the frustrating delays. We’ll help you meet Know Your Customer (KYC) and compliance requirements like a pro! Multi-Currency Solutions 💸: Doing business internationally? We help you open accounts with multi-currency capabilities so your business is ready for global transactions. Exclusive Relationships 🤝: We leverage our close ties with UAE’s top banks to fast-track your application and cut down approval. time! Contact us for bank account assistance in UAE! #UAEbanking #BusinessBankingMadeEasy #BankingSolutions #BankAccountAssistance #PolestarAdvisory #BusinessInDubai #SMEbanking #FinancialFreedom

Commencing on your entrepreneurial journey in the UAE? Opening a business bank account can be a game-changer, but it's not without its challenges. From a strict regulatory framework to high demand for banking services and language barriers, navigating the complexities of the UAE's banking landscape can lead to frustrating delays. But fear not! M Power is here to be your guiding light through these obstacles. Our team of experts understands the nuances of the UAE's financial sector and will work tirelessly to ensure a smooth and efficient process for opening your business bank account. With M Power by your side, you can expect personalized assistance, transparent communication, and strategic solutions tailored to your specific needs. We'll help you navigate the regulatory maze, bridge any language gaps, and provide insights into the intricacies of the banking system, ensuring that you can focus on growing your business with confidence. Don't let banking hurdles hold you back. Partner with M Power and unlock the full potential of your business in the UAE! #m_powerbusinessuae #EmpoweringEntrepreneurs #FinancialFreedom #MPoweredAssistance #MPowerBusinessUAE #UAEBusiness