My company banks with HSBC and we are having ongoing problems making salary payments to two employees based in Saudi Arabia and in Qatar. I have been processing the payments without a problem since 2014, but I put the payments through 10 days ago and the bank has still not processed them. I contacted the call centre to inquire why the payments were stalled, only to be told that they cannot tell me anything and to refer to our relationship manager. Our admin manager has called them and been told that they can't give a reason as to why the payments have not gone through and that we now have to inform them whenever we intend to make these payments in the future. Our two guys have mortgages and bills to pay and should have been paid on March 28. Can you help? EC, Dubai
I understand from EC that this has happened before so I got in touch with my contacts at HSBC who passed the query on to the relevant person who oversees issues with corporate banking.
I am happy to report that the problem was resolved within a day and EC was contacted by the bank with an explanation. She is delighted with the outcome, which I understand will solve the issues going forward.
HSBC said: “Thank you for the opportunity to comment, but unfortunately we cannot regarding customer issues as per the bank’s policy due to confidentiality reasons.” I am happy that they acted so quickly to solve a reader’s problem.
I have recently taken on a full-time maid and I understand that we have to provide her with some medical insurance. She is on a trial period so I don't want to pay out yet more money, so what is the deadline to get this sorted? I was told it keeps being extended. AB, Dubai
Under Dubai Health Authority (DHA) rules, it is mandatory that all visa holders have DHA compliant medical insurance plans in place. The final deadline, for individuals, dependents and domestic staff, was initially June 30, 2016, but it was then extended to the end of 2016 and extended again as people still had not arranged cover, despite the details being widely publicised since 2014. The final deadline to ensure everyone is April 30, so anyone who has not yet organised appropriate cover will be subject to fines.
These are Dh500 per uninsured person per month, or partial month, and visas will no longer be issued without proof of insurance. The DHA has recently increased staffing levels and is taking the matter seriously. The cost of insurance for domestic staff is low as most are eligible for the Essential Benefits Plan, basic cover for anyone earning less than Dh4,000 per month.
The annual premium for these plans, which are offered by nine participating insurers, is capped at Dh700 a year and most companies are charging less.
Details of the providers can be found on the DHA website.
Keren Bobker is an independent financial adviser and senior partner with Holborn Assets in Dubai, with over 20 years’ experience. Contact her at keren@holbornassets.com. Follow her on Twitter at @FinancialUAE
The advice provided in our columns does not constitute legal advice and is provided for information only.
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