Bank account opening UAE | All UAE Bank’s Account Requirement and Benefits

January 5, 2023

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UAE Central Bank regulates the primary financial authority of UAE, so twenty-three local banks and twenty-six foreign ones are authorized banks in UAE. It has five of the biggest banks is accounting for 60% of the sector assets. UAE owes eight full-fledged Islamic banks and twenty-three banks with Islamic windows setup. These are the conventional banks in UAE which account for 19% of total banking sector assets.

There are four types of banks found in the UAE as follows:

Commercial bank
Industrial bank
Merchant bank
Islamic bank

Experts say that UAE’s banking system is stable due to the resilient capital level and liquidity buffers of the banks they owe.

THE UAE TOP BANKS, THIER Account Opening Requirements AND BENEFITS LISTED BELOW.

Emirates NBD
National bank of Abu Dhabi
Abu Dhabi commercial bank
First gulf bank
Dubai Islamic bank
Mashreq bank
Abu Dhabi Islamic bank
Union National bank
Commercial bank of Dubai
RAK bank

The largest bank in UAE is First Abu Dhabi Bank (FAB), it is a merger of the National Bank of Abu Dhabi Commercial bank and the first gulf bank in 2017. Abu Dhabi Commercial Bank (ADCB) is one of the biggest banks in UAE holds a market share of 10%-11%in loans and deposits.

A minimum salary of 3,000 AED is required to open a bank account. Opening an account is the amount of money deposited the first time to set up a bank account. Salary transfer is the amount of money deposited by the employer in the account every month. Therefore, an employee should maintain getting a salary in time. If he failed charging fee of 25 Dirham paid.

The monthly account statement sent through an email or the website is called an E-Statement. Mutual documents are required to open a bank account are; Emirates ID, a copy of passport with UAE visa stamp, and a salary certificate.

Some of the bank details listed for your reference:

Abu Dhabi Commercial bank, Account Opening Requirements and Benefits,

For owing an account, one should pay an amount of 5,000 AED to the bank. The minimum salary transfer per month is 5,000 AED. Mutual documents are required to open an account. In turn, the bank will provide a free:

Cheque book (first one alone)
Cash
Cheque withdrawal, deposit
E-statement

Citi bank, Account Requirement and Benefits,

For opening an account, one should pay a minimum amount of 3,000 AED with a minimum salary of 3,000 AED per month. Mutual documents are required to open an account. In turn, the bank will provide a free:

Cheque book (first one alone),
Cash, Cheque withdrawal and
Deposit

Dubai Islamic Bank (DIB), Account Requirement and Benefits,

Cheque book (first one alone),
Cash, Cheque withdrawal and
Deposit

First Abu Dhabi Bank (FAB) Or National bank of Abu Dhabi (NABAD), Account Requirement and Benefits,

For opening an account, one should pay a minimum amount of 3,000 AED with a minimum salary of 3,000 AED per month. Mutual documents are required to open an account. And one who opens should be more than 21 years of age. In turn, the bank will provide a free:

Cheque book (first one alone),
Cash, Cheque withdrawal and
Deposit

Emirates NBD (ENBD), Account Requirement and Benefits,

For opening an account, one should pay a minimum amount of 3,000 AED with a minimum salary of 3,000 AED per month. Mutual documents are required to open an account. Labour contract copy, no objection letter from the sponsor, a statement of account about his last salary, and a consolidate letter. In turn, the bank will provide a free:

Cheque book (first one alone),
Cash, Cheque withdrawal,
Deposit and
More than 70 ATMs around Dubai.

First Gulf Bank (FGB), Account Requirement and Benefits,

Cheque book (first one alone),
Cash, Cheque withdrawal,
Deposit and
More than 55 ATM around Dubai

Standard Chartered, Account Requirement and Benefits

For opening an account, one should pay a minimum amount of 10,000 AED with a minimum salary of 3,000 AED per month. Mutual documents are required to open an account. In turn, the bank will provide a free:

Cheque book (first one alone),
Cash, Cheque withdrawal,
Deposit and
Local bill payments.

Rak bank, Account Requirement and Benefits,

Cash, Cheque withdrawal and
Deposit and
Monthly statement of account (E-statement)

Abhu Dhabi Islamic bank (ADIB), Account Requirement and Benefits,

Cheque book (first one alone),
Cash, Cheque withdrawal,
Deposit,
Mobile Banking App (Local bills payment, money transfer, etc.),
E-Statement.

Mashreq Bank, Account Requirement and Benefits,

For opening an account, one should pay a minimum amount of 3,000 AED with a minimum salary of 3,000 AED per month. Mutual documents are required to open an account. The person should be more than 21 years of age. In turn, the bank will provide a free:

Cheque book (first one alone),
Cash, Cheque withdrawal,
Deposit,
Mobile banking app (local bills payment, money transfer, etc.)
E-Statement
Make purchases at more than 24 million retail outlets worldwide
Telebanking services

Commercial Bank of Dubai (CBD), Account Requirement and Benefits,

Cheque book (first one alone),
Cash, Cheque withdrawal,
Deposit,
Mobile and online banking app (local bills payment, money transfer, etc.),
E-statement of all cheques with images,
Personal overdraft facility
Reward points (Attijari) available on-increment (monthly average balance).

Commercial Bank International (CBI), OAccount Requirement and Benefits,

Cheque book (first one alone),
Cash, Cheque withdrawal,
Deposit,
Mobile and Online banking app (Local bills payment, money transfer, etc.),
E-Statement.