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The currency used in the UAE is the United Arab Emirates dirham. ATMs and banks are easily accessible, and residents can bank with reputable local and international banks.
Opening a bank account requires a student to have a valid UAE residence visa. Once this process is completed, students will be able to open a bank account through NYUAD partnered banks. Our student finance office will be facilitating this process for students.
The most convenient way for students to access money in Abu Dhabi, and in the UAE, is by using an ATM card that is linked to an account they (or their parents/guardians) have back home. Additionally, if students open a local bank account, they will be able to use their own ATM cards for cash withdrawals and for making purchases. ATMs are numerous throughout the city and there is one conveniently located on campus.
Some students have pre-paid Visa or MasterCards that can be used at ATMs or anywhere credit cards are accepted.
How much money students spend in a typical week depends on the individual student and what type of activities they enjoy. Since students tend to be very busy with classes and studying during the week, some really don’t spend much money except during the weekend when they go out to dinner, the movies or do some shopping for their personal needs. Other students tend to save their money for travel and vacations. The amount varies from student to student and we encourage students to have frank conversations with their parents and guardians about money management before they leave home.