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Bank commissions? US$ to QAR...

jp61's picture
By jp61 on Tue, 29/05/2012 - 10:08pm
Posted in:

Hi - I have a questions about salaries and bank accounts.

I am on the verge of accepting an offer for a company and have been offered US$10000 per month.

I am planning to get an HSBC bank account when I arrive in Doha.

If I have my account in Dollars would I need to pay any commission to HSBC when I convert from US Dollars to local currency (ie when I take cash out of the ATM or use my debit card).

Similarly if I decide to have my account in QAR, would I pay commission when the Dollars are paid into my account and exchanged to QAR?

I appreciate the the exchange rate is fixed at 3.65, but my question is do I pay any commissions to HSBC at any point when it converts from US$ to QAR?

Does that make sense? :)


Comments

silverstar's picture

silverstar said Remittance ...

The Bank account is always in the local currency and hence there are no charges for withdrawal from ATM.

Tue, 29/05/2012 - 11:28pm

 

galloper48's picture

galloper48 said if you use your US debit card ...

and go to any ATM machine here in Doha to take local currency you will be charged.

If you take your Doha debit card to the US and take US$ there then you will be charged.

There is people saying they don't mind transferring the whole salary into their overseas account and pay the fees/commission every time they use a Doha based ATM machine since it is considered; and I quote "peanuts

Better talk to the bank and clarify the fees scheme they would applying onto your account on every overseas transaction you perform.

Regards!!

Wed, 30/05/2012 - 8:00am

 

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