Bahrain
Banking in Bahrain
Recent forum posts
-
Start your business in Dubai with Expert Consultants
Business Setup in Dubai made easy with expert guidance! Looking to establish a business in the vibrant city of Dubai? Our expert team can guide you through the entire process, from company formation to obtaining essential licenses and permits. We offer personalized solutions tailored to your specific needs, ensuring a seamless and efficient startup experience. Let us handle the complexities while
Total Posts: 2 Last post by goldenheritagetourism
-
Køb/bestil Zolpidem 10 mg uden recept.
Stjarnaapotek er det foretrukne apotek, når det kommer til at købe medicin online, fordi vi kun sælger førsteklasses medicin til en overkommelig pris. Vi sælger moderate og svære smertestillende midler, tabletter mod søvnforstyrrelser (søvnløshed), ADD/ADHD, vægttabsprodukter, angstdæmpende medicin, afhængighedsdæmpende medicin, antidepressiva, piller mod seksuel afhængighed og mange flere generis
Total Posts: 1 Last post by Vlayen
Banking in Bahrain
There are many formalities when opening a bank account in Bahrain, including a lot of paperwork.
To be eligible to open a bank account you will need a residence visa and a 'letter of no objection' or a 'no objection certificate' (NOC) from your employer. This letter must highlight your salary to show how much will be paid into your account. Most banks will also ask for a photocopy of your passport and some banks will also ask to see your tenancy agreement to establish your residential address. You should take copies of all these documents, as well as identity photographs.
Bahrain banks offer banking services including cheque clearance, standing orders, direct debits and credit card repayments. A certain number of transactions per year are usually free, after which a charge may be issued at the discretion of the bank manager. Charges vary between banks, as in most countries, so it is best to look around to see what is offered by different banks first before opening an account.
Current accounts pay little or no interest and, if they do, you must usually have a substantial balance to qualify. Therefore a savings or deposit account is the best option for surplus funds.
Transactions are usually made with cash in Bahrain as most people are suspicious of cheques. Most current accounts therefore are not cheque accounts.