Indian expatriates in the UAE should be aware of upcoming changes to banking fees. Starting in May, ATM withdrawals will become more expensive, impacting the cost of accessing cash for many residents.
Several banks in the UAE have announced adjustments to their fee structures, citing rising operational costs and regulatory changes. For Indian expats, who form a significant portion of the UAE’s workforce, this means higher charges for withdrawing cash from ATMs, particularly for transactions at non-network or out-of-network machines.
Key Details:
- Effective Date: The new fees will apply from May 2025.
- Fee Increase: Charges for ATM withdrawals, especially at non-affiliated ATMs, are expected to rise by 10-20% depending on the bank.
- Impact: Expats relying on frequent cash withdrawals may face increased financial strain, particularly those with accounts linked to Indian banks operating in the UAE.
- Recommendations:
- Use digital payment methods like mobile apps or cards to reduce reliance on cash.
- Opt for ATMs within your bank’s network to avoid additional charges.
- Check with your bank for updated fee schedules and explore accounts with lower transaction costs.
Indian expats are advised to review their banking options and plan transactions strategically to mitigate the impact of these fee hikes. Stay informed by contacting your bank or visiting their official website for detailed updates.
