About to leave Qatar without cancelling bank account ? Need advice !
By Milachrone •
Hello !
I have a fixed deposit in QNB. So when i told them to cancell it (becouse i will exit from Qatar on 3rd of August), so i will not be allowed to qatar for next two years. QNB told me they need 43 days to cancell my account. They cancelled my Credit card already.
They told me that, after 43 days, they will transfer my fixed deposit to my savings account and i can collect my money from my country using the debit card.
Anybody have experienced these kind of thing ?
Will the gov proceed an exit permit while my bank accounts are alive ?
Please give me your suggestions.
Thanks for reading
Perhaps it would also be good to find out the existing 'exit' policy for banks in Qatar. A call to 3-5 other banks should enable you to know whether this is standard protocol in the event of no liabilities.
Hi,
You need to visit someone really high up because it is sheer madness to be made to wait - particularly with no liabilities.
Find someone on linkedIN, ask your colleagues; you will find someone who will be able 'unlock' your money.
Tying up loose ends from a distance has never worked.
Fixed deposits are meant to be fixed for a certain period in order to earn certain percentage of interest thereon.
However the banks do accept the request to break the fixed deposit immediately by a written request, there is no question about it. The only thing is that the Bank may not pay you the interest of this period, or they may pay you interest at a lesser percentage (like saving account interest rate).
Your account has nothing to do with your exit permit, however it is advisable to take out the full amount now and close your account. The deposit supervisor is the right person to speak with, because the people at counter may not have enough experience to handle such requests.
if nothing working, then speak with the Deposit Manager or Branch Manager, he would definitely accept your request.
Yes this is defenitely ridiculous. That money is yours and you have invested in bank(fixed deposit). bank should give you back when ever you want and they might just deduct some amount for that. that amount also to be deducted from the intrest they are giving you. now they say 43 days is certainely unacceptable. speak to the manager and still if things doesnt work ask them to give in writing and file a complaint (based on that written communication) with QCB. REMEMBER, IF YOU GO INDIA YOU CANNOT FOLLOW UP FOR ANY THING AND IT WILL BE VERY DIFFICULT EVEN FOR SILLY THINGS, BANK DOESNT ALLOW YOUR FRIENDS FOR ANY PROCEEDINGS.
This is ridiculous. I do not see any reason that a bank need 45 days to cancel a deposit.
Please have every communication in writing. You may file a complaint with Qatar central bank at http://www.qcb.gov.qa/English/ConsumerRelations/Pages/ComplaintForms.aspx
consumer protection.
http://www.qcb.gov.qa/English/ConsumerRelations/Pages/Overview.aspx
let us know your experience...
It is advisable to clear the matter while you are still here. The money is yours when it is only in your pocket! Possibly, if you speak to some one in the management and explain your situation, he may be able to assist you. While your bank is providing you the facility of withdrawing the amount in your country, you may face some difficulties there which you may be currently unaware of. I suggest you write a letter to the bank to transfer the entire amount to your bank account in your country through bank to bank transfer after the 43-day period. They will take a small charge for this, but you will get your money at home.