All About Banking In Qatar

If you’re new in Qatar and banking seems overwhelming, read this blog to understand a few essentials that help you manage your finances in Qatar.

1.    Check books

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First, you need to open a current account with a bank of your choice. As soon your account is made you will be issued a check book. This will come in handy when you’re paying rent for your rented accommodation.

 

2.    Credit cards

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Credit cards are lucrative and are readily available, with a credit limit decided based on your income. Make sure to find out all about the fees and rates of interests related to card payments to avoid getting an unpleasant surprise on your bill.

3.    Taxes

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The fact that Qatar doesn’t believe in the system of taxing its citizens, feels like a balm after all the complicated banking procedures. The money you make is all yours. However, you must check if you have to pay taxes to your home country on money earned abroad.

4.    Money transfers

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Money transfer is not difficult, given the availability of money transferring options; either transact directly via the bank or avail the services of money transfer businesses.

While banking in Qatar is a very organized, they are also is very strict about criminal offenses. Make sure you make all your payments and your checks never bounce because such incidents are strictly punishable by law in Qatar.

Author: Tanya Michael   

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