Photo Credit: www.caribbeanunionbank.com
Processing loan transactions here in Abu Dhabi or UAE in general always require a bank statement of 3 months. Since I wanted to apply for car loan, I went last week to the bank to obtain the same.
I was really stunned to know that the new fee for acquiring bank statement is AED 50 (approx USD 14) for each month. So I shelled out AED 150 for the 3 months statement. I don’t know maybe it was ages ago since the last time I requested for bank statement but I really found it expensive.
Earlier the monthly bank statement is sent by postal mail and it can be used for any credit cards or personal loans application. Then lately the bank starts sending it by e-mail and I receive the monthly e-statement in my inbox. Unfortunately, the bank will not honor this because they need the company stamp.
Ideally the fee should be cheaper since they are no longer sending it by post. On contrary, the fee is even doubled than before. If they have continued sending it by post, I would have not spent AED 150 for that.
Honestly I can really feel the skyrocketing cost here in UAE after living and working here since 2002. Hence, it is another motivation for me to stay frugal in my expenses and way of life.
