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RISE by Emirates NBD – Truth and Reality

(Dubai, 13/04/2014) With effect 01/05/2014, Emirates NBD massively increases the required Minimum Balances for its Business Banking Clients.

Emirates NBD, one of UAE's leading local banks frequently creates massive attention with its Marketing Campaigns, like:

  • RISE - The Power of Small to shape the Future ("Celebrating the Spirit of Entrepeneurship")
  • TRUTH . . . and REALITY (These comparisons really EVERYONER knows who drives on Dubai's roads!)

Banking GreedWith a small and harmless SMS in the middle of March, "the leading retail banking franchise in UAE" did educate its clients how THEY understand terms like "Rise" and "Truth . . . Reality":

The formerly required "Minimum Monthly Average Relationship Balance" for the Standard Business Banking of AED 10,000 will be increased to a stunning AED 50,000!

Furthermore, also the other Banking Package Minimum Balances have been massively increased: Business Banking Plus AED 200,000 and Busines Banking Select AED 500,000.

Of course, there are more or less competitive so called "Fall Below Fees" of AED 100 / 250 / 500 per month.

But everyone, banking in UAE, knows exactly that fall belows lead automatically to bothering frequent "Relationship Manager Calls" as well as sooner or later to account closures, since the relationship doesn't fall any longer under the expectation of the bank's customer policy.

Not to talk further about the Entrepeneur REALITY that not one single Dirhams lungering on a bank account leads to a RISE of HIS business - but only to a RISE of the bank's profits. This is a TRUTH.

So, for Emirates NBD it seems:
TRUTH is that a RISE is desired - although the financial figures are more than good - and this has been simply made to (poor) customers REALITY.

MCI recently launched its new Banking Liaison Department - maybe a good momentum to contact us for the discussion of banking alternatives.

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  1. You are truly awesome. After i read the information from you I feel very happy and excited, because the information is very interesting  

    Posted by jicstech.com | 28/10/2014

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