Category Archives: Bills

My New Sim Card is Hunted by its Past..

Posted on January 7, 2013 by | Leave a comment

I opened and used the new sim card on a Friday. An hour later, there was a call from the National Bank of Abu Dhabi. On Saturday, I received another call from Mashreq Bank. On Monday, another call but this time it was not from the bank. It was the legal office informing that the case was filed already.

Shocking, right?

It doesn’t end there. On 26 December, I received a sms reminder for minimum payment of AED 998.87 for a credit card with a due date on 31 December. Then on 1 January, there was another sms, a confirmation of the payment received.

My new sim card is hunted by its past. It seems that the previous owner of the number that I am using now is being chased for collection.

I cannot help but conclude that the owner is somehow facing some financial issues. It means that he has not been paying regularly his bank dues and I feel sorry for him.

I hope that my assumptions are just figments of my unleashed imagination and that he is well and in good situation.

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Posted in Banks, Bills, Finances, Life in Abu Dhabi

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How to Close Your ADCB Credit Card (If You Are No Longer in UAE)?

Posted on November 14, 2012 by | 5 Comments

Three weeks ago I was in ADCB - Khalidiya Branch to facilitate the closure of my best friend’s ADCB credit card as she left already the country. To my surprise, it was not that easy despite of having an authorization letter and copies of other relevant documents.

My best friend found a better job opportunity in Doha, Qatar. She wasn’t able to close her ADCB credit card before leaving UAE because of the lack of funds (but bear in mind that she was not a delinquent payer).

Anyway, here are few steps to help you out in closing your ADCB credit card in case you are no longer in the country.

Check your total outstanding balance. You can call their international toll free number which can be found at the back of the credit card. You have to personally ask for your outstanding balance. Note that your representative (and even the bank employee) cannot obtain this information. The customer service employee tried this in front of me but the call center agent refused to provide him the information.

Though the bank can access your records in the system, they will not see the updated outstanding balance. They cannot confirm if it is the right amount for final settlement.

Settle the Outstanding Balance. Once you know the exact amount, you have to pay in full either through the machine or to the teller.

Visit the ADCB Branch. Before asking your representative to visit the bank, make sure that he/she has the authorization letter (my best friend included copies of her credit card, passport and current ID). Then the customer service agent will ask you to complete one form (for the closure of the credit card) and will require your representative’s identification card.

Don’t forget to ask for the clearance certificate which will take 40-45 days. Until now, I have not yet collected the clearance certificate of my best friend.

Additional Tips:

· After you settle the outstanding balance and applying the credit card closure, I personally recommend asking the credit card holder too to call the bank’s toll free number and verified the matter. Actually, the credit card holder can request also to close the credit card and the bank’s call center agent can actually do that provided you do not have any balance to be paid.

· Once you know the outstanding balance, it is better to settle it the soonest possible. There is a chance that additional charges may incur if you keep on delaying it.

I hope this information helps though take into consideration that bank’s policy changes every now and then. Still it is best to check directly the details with your bank.

 

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Posted in Banks, Bills, Finances

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Getting Rid of Bad “Spending” Habits

Posted on January 6, 2012 by | 6 Comments

I am glad that somehow I passed already the stage of ignorance about personal finance. I mean, I am not an expert on that subject but I would say that I am better now on it compared two years ago.

Thanks for the tons free online reading materials about personal finance. My goal is to be debt free and to establish passive source of incomes. I am not yet there but it is on the process. It takes time get rid of old and bad “spending” habits.

I have been working on my “financial freedom” goal for the last two years. It takes a lot of discipline and sacrifice.

Compulsive Buying. Sometimes it is just difficult to ignore the red “SALE” tag. It is like a magnet. When I am in the mall and I see a “SALE”, I cannot resist the urge to rush and to look around. I have always this hope to find something really nice at a very reasonable price.

Now I still shop but only for my “needs” although occasionally I cave in to buying my whims. Before I hit the mall, I already have the list on what I need to purchase. In this way, I avoid compulsive buying even it is a sale.

Cash Diet. It is not an easy journey but possible. I closed all my credit cards last year. Now I am only keeping prepaid card because I need it sometimes for online purchases.

 

If you do not have discipline, then credit cards can be destructive to your personal finance health. When you are spending and you are using credit card, you do not feel the money getting out from your hands until you receive your monthly credit card bill.

 

Also, there is a greater possibility to spend more because the expenditures become unnoticed. Unless you are on a cash diet, you monitor every penny that goes out from your pocket.

 

Simple Living. Honestly I gave up already buying, planning and dreaming fancy things. For me now, it is all about functionality.

 

Financial freedom is not an easy journey especially if you are already trapped in spiraling debts. However, it is not yet too late and there will always be ways to improve your financial situation. It is just a matter of choice.

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Posted in Bills, Finances, Frugal Tips, Thoughts

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Philippine Hospital Bills can Kill you..

Posted on August 29, 2011 by | 5 Comments

I was admitted in the hospital last weekend as per the recommendation of my doctor. She was quite anxious because during my last ultrasound the heartbeat of my baby was below normal. So, I was confined in the delivery room for 12 hours with some medical device attached to my tummy and my baby’s heartbeat was monitored the entire evening.

Gladly, everything was alright and after two nights in the hospital, I was discharged.

While my sister was busy settling the hospital bills, I was somehow in the state of ignorance. I was not sure how much to expect because I have been out of the country since 2002. I knew it is costly because that is the rant I always hear from the news but I never felt the expensive cost until my sister handed over to me the details of the hospitalization bills.

The two nights in the hospital along with the laboratories and other tests costed me Php 13,000 (approx  USD 325).

My medical bills made me think. Just imagine that I paid already such amount for two days only. What will happen to those patients who have complicated illness and require intensive medications or treatments? What happen if they cannot afford the cost of hospitalization bills?

It really made me think and in a way scares me.. I should have always a health fund in case such needs arise (though God forbids!).

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Posted in Bills, Family, Finances, Thoughts

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Bye-bye Credit Card.. Hello Prepaid Card

Posted on July 20, 2011 by | 2 Comments

I am quite overwhelmed today morning when I called my bank to cancel my last credit card. It is really an achievement for me considering that at the peak I had 5 credit cards on my wallet which later I realized was not a wise decision at all.

One of the reasons that I hang on to saving one credit card in my wallet is its usefulness in online purchases and transactions. Let’s face it. We need at least one credit card to do online transactions like purchasing your domain name or airline tickets.

So when I discovered the prepaid card of National Bank of Abu Dhabi (NBAD) last week, I was delighted.

Very eager to know about its features and benefits, I inquired and days later applied for it. I see it as an excellent option to keep me away from any spiraling debts and be in control with my finances.

So, what are its features and benefits?

 The NBAD prepaid card works like a debit card but can be used as well for online purchases. All you have to do is to fund the NBAD prepaid visa card and it is ready to use like online shopping.

 Applying for it is very easy. I just went in Khalidiya Branch. I completed the registration form and presented my driving license. Any ID will do. Then an initial deposit is required. The minimum deposit is AED 100 and the bank charges AED 10 for the first deposit. The fee for the subsequent deposits will be AED 5 per deposit.

After an hour, I left the bank with the NBAD prepaid visa card on my hand though activation is done within 24 hours.

Balance inquiry can be done through the ATM machines of NBAD or though online.  

To learn more about this product, click it here.  

Don’t get me wrong.. I am not paid to write about this product. I am just happy to share that this option is available and I personally believe that it is an excellent choice especially for those (like me) who are working on improving their financial health.

I think AED 5 deposit fee is very minimal comparing to paying an interest or late payment fees for not being able to fully settle their credit card bills every due date.

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Posted in Banks, Bills, Finances, Frugal Tips, Reviews

Rent a Car in Abu Dhabi

Posted on May 18, 2010 by | 8 Comments

Out of necessity for my new job post, I am obliged to have a car. I have a mixed feeling whether to purchase or simply rent a car in Abu Dhabi. I abhor the long financial commitment of availing a car loan and with the current job market condition; I honestly don’t find it the best solution for the time being.

So while on the process of getting acquainted with my new role, I decided to rent a car for the next few months. The average range for monthly car rental price here in Abu Dhabi is between AED 2,200 (USD 600) to AED 2,500 (USD 685). In fact, established car rental companies are more expensive.

Before renting my car, I called up many car rental companies to scour a cheaper deal. The price and insurance coverage are my primary deciding factors. Although there are cheaper price for auto rent in Abu Dhabi, I am not comfortable with their insurance coverage.

I am a new driver and considering the driving etiquette and parking issues here, comprehensive car insurance is the most favorable option for me. It means that if ever accident happens, insurance will cover it as long as I provide the car rental company with police report.

After calling numerous car rental companies in Abu Dhabi, I eventually found a better deal. It is the Auto Rent Company. The monthly price is AED 1750 for a 2010 model of Renault Logan with comprehensive car insurance.

The only hitch is they will charge AED 0.75 per kilometer after reaching a total mileage of 4500 km per month. Honestly, I am fine with it. I just drive within the city and occasional drive on weekends to Dubai or other Emirates.

The required documents for renting a car in Abu Dhabi are copies of your passport, credit card and driving license. If you are new in Abu Dhabi and don’t have credit card, you can always negotiate it with them.

As for their service, so far I am happy with it. If you want to get in touch with this car rental company in Abu Dhabi, here are the details.

Phone  : +971   2 6350250
Mobile  : +971 55 200 5850
Fax      :+971    2 6350822
Website: www.autorent-me.com

Just to let you know, this is not a paid blog post or review. I am simply recommending this auto rental company because I am satisfied with their service and it is the best deal I found in the city. If you have any other recommendations, please let me know and I’ll be delighted to try it as I plan to continue renting a car until end of the year.

(Last update 31/Oct/2012)

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Posted in Bills, Life in Abu Dhabi, Reviews, Transpo

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Obtaining Bank Statement is now Expensive

Posted on March 20, 2010 by | Leave a comment

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.

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Posted in Banks, Bills, Finances

How am I Saving 70% of my Telephone Bill?

Posted on November 24, 2009 by | 10 Comments

It all started with the YM (Yahoo Messenger) offline messages from my mum in September this year. Through the help of her younger colleague, she learned to open her yahoo account and to send messages to us (I and my brother).

I was ecstatic because I knew Mum. At her age (mid 60s), we can’t expect her to be techie at all. A simple feature in her mobile phone can be extremely complicated for her.

Since she learned to send messages in YM, my brother and I received daily messages. To catch us online, she will rush to her faculty room every break time because by then, we are up already and at work. Then for few minutes we chat.

By the time we have our lunch break, my Mum is already at home where unfortunately she doesn’t have internet. She can only access her YM at her workplace hence it limits our time chat.

So, we decided to purchase her a desktop and also subscribed for internet connection. My sister, who stays and works four hours away from home, traveled and spent a weekend with Mum so she could teach her all the basics in computer from switching on to turning off the machine.

My brother and I were anticipating to chat with her the following week. To our dismay, YM had always a system glitch. Sometimes I was unable to log-in for days for whatever reasons. Then my brother introduced us to Oovoo, a web based free video conference facility.

Since then, we chat every night and weekend. Sometimes due to work demand, I need to stay late and I miss them joining in the video conference. We also demanded curfew for our Mum. With the time difference, we told Mum that she could only stay online until 11.30pm which is 7.30pm in our time. We don’t want her to suffer the next day because of lack of sleep.

On occasions where I miss the video conference with my brother, my Mum would send me a video message. Oovoo is really nice. Rather than leaving offline message at YM, Oovoo has a better option – video messages though it has also a chat facility.

With this, it slashes my phone budget by 70%. I no longer buy phone cards to call Mum and our communication nowadays is even more frequent.

Then yesterday, I discovered the 160by2.com, a website where you can send free sms in UAE, Saudi, Kuwait and few Asian countries like India, Malaysia, Philippines and Singapore.

So now, I need only a phone card for emergency calls and when I don’t have internet access.

 

Update: I learned from a friend about smsteriod, a site for free sms. It’s actually better than the 160by2 because you can send sms anywhere in the world.

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