Can anyone help me with this?

@GinetaG15

Strange to see this.

As I know here in Dubai you can open business / personal bank account with first AED Account Number and then you can apply USD EURO GBP account. Emirates Islamic, Emirates NBD they have this facility. CBD also launch this recently, but I'm not sure.

So better from your existing bank reference open account in this way with another bank. Get Account first in AED and then they will give you another 3 currency account and account number to operate.

From USD EURO GBP when you transfer outside UAE, they will charge you remittance fees if you transfer in same currency, if you transfer from other currency then currency conversion rate also apply.

Thanks.

Thanks for that. I'm with Emirates Islamic and they seem to be a law unto their own. I have received nothing from them in writing regarding why the account was blocked or why they suddenly wanted Euro to apply a conversation rate. Is there any independent body that monitors the banks? In the UK we have the Banking Ombudsman for such things.

Thanks

Phil

@GinetaG15

You can reach to Central bank UAE who is monitor all banks.

Recently from last 2-3 months Emirates Islamic and ENBD both have changes their charges on Business and Personal account specially for Remittance.

Better to keep another bank in backup to avoid such situation.

Thanks.

@jayonline

Thanks for the information. Basically, it's not the rates it seems to be more greed. To go over the history my Personal Banker with EI has since the account opened been trying to sell me something; life insurance, credit card, office space, all the things I didn't need. The Euro was always getting mentioned when I refused other products. I agreed verbally to Euro only if the account was changed from a dollar amount to Euro but he didn't want that because of course, conversion rate. The whole thing came to ahead last year when the account was blocked, not closed but blocked. The email said it was internal banking policy... whatever that means. Verbally, my banker said it was because of a payment to a Russian bank which was completely nonsense. However, using his sale skills he said he could get the account unblocked if I sent an email confirming I would make payments in Euro.  So I did and the account was unblocked. Now, to date I have had nothing in writing regarding the products he wanted me to buy or even the Euro payments. When I have requested the information it gets ignored or some cryptic response that has no relation to the question. I have had no reason given written or verbal as to why the account was blocked and why Euro was the magic key!

I do have his text messages insisting on Euro payments but no emails or letters.

I don't know if this is his own scheme for his bonus or if someone is pushing down on him. It's obviously to do with extra money to the bank but my business does bring money to the bank and we are crystal clear with compliance. It doesn't make sense.

@GinetaG15

That's possible for his personal target he insists EURO as they get more incentive on Foregin currency remittance like USD EURO.

Any ideas on how I should peruse the matter?

Why don't you try a new bank and see how it goes.

My advice is to contact lawyer and dont let anyone make money on you or cheating. I was facing blackmailing and it stopped once i got help from the lawyer. Contact them and check what they can do for you: ***. They helped me a lot.

I hope you were comfortable with your bank accounts and release from confusions.