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Swissquote unveils ‘easy’ UAE expat bank account

Swissquote Bank has released details of its latest offering, designed specifically for ‘western’ expatriates that are based in the United Arab Emirates, expatforum.com reports.

The facilitation of all things financial can prove a concern for expatriates, who might be receiving a wage in local currency but need to pay bills at home in sterling. With several banks pulling their offshore products, expats and brokers alike will no doubt be pleased that the Swiss online bank’s Dubai subsidiary has launched a new account.

Targeting the UAE’s 500,000 expats, Swissquote’s product is hailed an ‘all-in-one’ solution that benefits those interested in saving and trading. The Swiss bank account provides access to a multi-asset trading system and a credit card but also operates in multiple currencies, promising easy international transfers.

Being online, expats are able to access their ‘bank’ wherever and whenever there is a connection to the internet, making it a convenient option.

Swissquote Bank MEA chief executive, Mario Camara spoke about the launch via tradearabia.com: “We are excited about the official introduction of the new expat account and convinced of its business potential in the region,” he said.

“With Dubai’s win to host Expo 2020 and with the UAE government’s continuous strive towards achieving sustainable development, the country is expected to gain more ground in attracting new investors and more expats.”

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