Question: On June 23, Dh9,751 ($2,655) was charged to my Emirates NBD credit card. No one-time password was sent for the transaction, which appears to be from a company in Poland that I had not heard of.
When I look at the transaction in the app, it shows “success June 24 12.00am”. I don't know if this means the bank could have stopped the transaction had I reported the fraud.
As soon as I saw the fraudulent transaction, I called the bank to block the card. The agent confirmed it as a fraud transaction.
I also placed a request for a temporary credit while the transaction was being investigated. I was told that it was up to the senior management to approve it.
Three days later, another transaction was attempted from the same vendor for €304 ($329). The card was already blocked, so I assumed the transaction did not go through.
I subsequently called the bank to follow up on the temporary credit and mentioned the second transaction.
I was told that Visa was investigating the transaction and there had been no feedback regarding the temporary credit, and a follow-up note was put on the account.
The €304 was refunded to my card after a few days.
When I followed up again, I was told there was no feedback regarding the transaction or temporary credit. Another note was put on the account to request the fraud team to contact me with an update, but nobody did.
I called again and was told that there was a note that the transaction needed further investigation and there was no feedback on the temporary credit I'd requested.
Instead, I was offered an instalment plan so I would not have to make the payment in full for the initial fraudulent transaction as my monthly payment date was due soon.
I questioned this since I would have to pay interest, but the agent said it was my only option to avoid paying for the transaction in full.
I asked her to escalate the issue and for feedback on why they would not apply a temporary credit. She added another note to the account and told me there was nothing else she could do.
It has been frustrating dealing with the bank and I am confused as to why the second transaction was refunded, yet they need further time to investigate the first one.
While the bank states a 60- to 90-day turnaround time for the investigation, I am unsure as to why they would not apply temporary credit. Can you help? LC, Dubai
Answer: Seeing a fraudulent transaction on an account is stressful and is all too common these days. LC took the right action without delay.
I escalated the issue to my contacts at the bank and they acted swiftly.
After a few days, the representative said: “We are pleased to inform you that our Group Customer Experience team has been in touch with Ms C and provided her with the necessary clarifications regarding the fraudulent transactions and the matter has been resolved to her satisfaction.”
A temporary credit has been added to the account so no payments are due while the initial fraudulent transaction is being investigated, which can be a lengthy process.
Q: I have resigned from my job after two years as I want to move to a different type of work.
I have an offer for a new job and so, I have resigned from my current company. My contract says there is one month’s notice and I am working that.
My worry is that my current employer may say that I have to leave the country after I finish working for them and may take me to the airport to make sure I leave. Will I need to do that? DS, Sharjah
A: It is not necessary for DS to leave the UAE on changing employment and the employer is incorrect. They simply need to pay all that is due and cancel the visa.
The Ministry of Human Resources and Emiratisation (MoHRE) has officially stated: “The employer may not compel the employee to leave the state if the employee desires to join a new employer in the event that the employee complies with the procedures stipulated regarding the termination of the employment contract.”
If this employer is insistent even once DS explains the law, they can make a formal complaint to MoHRE for support.
Keren Bobker is an independent financial adviser and senior partner with Holborn Assets in Dubai, with more than 30 years’ experience. Contact her at keren@holbornassets.comor at www.financialuae.com
The advice provided in our columns does not constitute legal advice and is provided for information only
Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin
THE DETAILS
Director: Milan Jhaveri
Producer: Emmay Entertainment and T-Series
Cast: John Abraham, Manoj Bajpayee
Rating: 2/5
if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
Meydan racecard:
6.30pm: Handicap | US$135,000 (Dirt) | 1,400 metres
7.05pm: Handicap | $135,000 (Turf) | 1,200m
7.40pm: Dubai Millennium Stakes | Group 3 | $200,000 (T) | 2,000m
8.15pm: UAE Oaks | Group 3 | $250,000 (D) | 1,900m
8.50pm: Zabeel Mile | Group 2 | $250,000 (T) | 1,600m
9.20pm: Handicap | $135,000 (T) | 1,600m
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
LA LIGA FIXTURES
Thursday (All UAE kick-off times)
Sevilla v Real Betis (midnight)
Friday
Granada v Real Betis (9.30pm)
Valencia v Levante (midnight)
Saturday
Espanyol v Alaves (4pm)
Celta Vigo v Villarreal (7pm)
Leganes v Real Valladolid (9.30pm)
Mallorca v Barcelona (midnight)
Sunday
Atletic Bilbao v Atletico Madrid (4pm)
Real Madrid v Eibar (9.30pm)
Real Sociedad v Osasuna (midnight)
It's up to you to go green
Nils El Accad, chief executive and owner of Organic Foods and Café, says going green is about “lifestyle and attitude” rather than a “money change”; people need to plan ahead to fill water bottles in advance and take their own bags to the supermarket, he says.
“People always want someone else to do the work; it doesn’t work like that,” he adds. “The first step: you have to consciously make that decision and change.”
When he gets a takeaway, says Mr El Accad, he takes his own glass jars instead of accepting disposable aluminium containers, paper napkins and plastic tubs, cutlery and bags from restaurants.
He also plants his own crops and herbs at home and at the Sheikh Zayed store, from basil and rosemary to beans, squashes and papayas. “If you’re going to water anything, better it be tomatoes and cucumbers, something edible, than grass,” he says.
“All this throwaway plastic - cups, bottles, forks - has to go first,” says Mr El Accad, who has banned all disposable straws, whether plastic or even paper, from the café chain.
One of the latest changes he has implemented at his stores is to offer refills of liquid laundry detergent, to save plastic. The two brands Organic Foods stocks, Organic Larder and Sonnett, are both “triple-certified - you could eat the product”.
The Organic Larder detergent will soon be delivered in 200-litre metal oil drums before being decanted into 20-litre containers in-store.
Customers can refill their bottles at least 30 times before they start to degrade, he says. Organic Larder costs Dh35.75 for one litre and Dh62 for 2.75 litres and refills will cost 15 to 20 per cent less, Mr El Accad says.
But while there are savings to be had, going green tends to come with upfront costs and extra work and planning. Are we ready to refill bottles rather than throw them away? “You have to change,” says Mr El Accad. “I can only make it available.”
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 258hp from 5,000-6,500rpm
Torque: 400Nm from 1,550-4,000rpm
Transmission: Eight-speed auto
Fuel consumption: 6.1L/100km
Price: from Dh362,500
On sale: now
The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
So what is Spicy Chickenjoy?
Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.
