The Debt Panel: ‘Will my cheques bounce if the bank freezes my account when I swap jobs?’ – The National

The Debt Panel: ‘Will my cheques bounce if the bank freezes my account when I swap jobs?’ – The National

I recently accepted a new job and understand the bank can freeze my end-of-service benefits from my last employer.. I am financially ready for the bank to freeze my gratuity until I provide them with the new paperwork, but I need to ensure I don't face issues with the cheques.. I can cover the cheques without using the gratuity as long as the bank does not freeze my entire account.. If possible, ask your new employer to provide a salary transfer letter that you can give to your bank.. The letter will help validate that the salary from your new employer will continue to be credited into your existing bank account.. Asking your employer to split the payment may not work.. If your account is blocked, give the bank an official salary transfer letter from the new employer along with your new employment visa and Emirates ID copy.. If you have an outstanding debt, whether a personal loan or a credit card balance, it is standard practice for banks in the UAE to freeze an account when advised by an employer that a payment is "final salary" and employers are supposed to do that.. Expect your account to be frozen