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Bank Account Criteria

The document outlines various bank options in the UAE, detailing account types, minimum balance requirements, monthly fees, and transfer capabilities. Each bank has specific criteria for acceptable activities, with some allowing zero balance accounts and others requiring significant minimum balances. High-risk activities often require prior confirmation with the bank, and certain banks restrict trading in gold or precious metals.

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75 views2 pages

Bank Account Criteria

The document outlines various bank options in the UAE, detailing account types, minimum balance requirements, monthly fees, and transfer capabilities. Each bank has specific criteria for acceptable activities, with some allowing zero balance accounts and others requiring significant minimum balances. High-risk activities often require prior confirmation with the bank, and certain banks restrict trading in gold or precious metals.

Uploaded by

hussain177.sab
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Bank Options and Account Criteria

Abu Dhabi Commercial Bank (ADCB)


 Zero balance account
 Monthly fee: AED 150
 Supports local transfers only (no international transfers)
 Suitable for service providers and industrial activities
 High-risk activities are not allowed
 Trading is permitted only if the client has a physical office and maintains AED 50,000 in
the account. Approval should be confirmed with the banker before proceeding.

RAK Bank
 Zero balance account
 Monthly fee: AED 150
 Supports both local and international transfers (AED, USD, EURO, GBP)
 All activities allowed except Commercial Brokerage and trading in gold or precious
metals

Emirates Islamic Bank (EIB)


 Minimum balance requirement: AED 35,000 (ensure client funds account before
opening)
 Supports local and international transfers (AED, USD, EURO, GBP)
 Most activities accepted (excluding General Trading and Jewellery/Gold trading
without a physical shop)
 Cheque bounce cases require prior discussion with the banker

FAB – WIO Bank


 Zero balance account
 Monthly fee: AED 99
 Supports both local and international transfers
 Most activities are accepted except high-risk ones (refer to www.wio.io)
 Use company code: CO86
 WIO Partner Support: +971 2 4967600 (internal use only), +971 52 397 1624,
femina@startanybusiness.ae

Mashreq Bank
 Minimum balance: AED 300,000
 Supports local and international transfers (AED, USD, EURO, GBP)
 Most activities accepted (excluding General Trading and Jewellery/Gold trading
without a shop)
Ajman Bank
 Minimum balance: AED 5,000
 Supports local and international transfers (AED, USD, EURO)
 Both low-risk and high-risk activities require prior confirmation with the bank

Emirates National Bank of Dubai (ENBD)


 Minimum balance: AED 500,000
 Supports local and international transfers (AED, USD, EURO)
 Most activities accepted

Abu Dhabi Islamic Bank (ADIB)


 Minimum balance: AED 500,000
 Supports local and international transfers
 Most activities accepted (excluding General Trading and Jewellery/Gold trading without
a shop)

Commercial Bank of Dubai (CBD)


 Minimum balance: AED 500,000
 Supports local and international transfers
 Most activities accepted, but verify with banker first

Sharjah Islamic Bank (SIB)


 Minimum balance: AED 15,000
 Supports local and international transfers (AED, USD, EURO)
 Most activities accepted, subject to banker verification

National Bank of Fujairah (NBF)


 Minimum balance: AED 35,000
 Supports local and international transfers (AED, USD)
 Most activities accepted, subject to banker verification

Mashreq NeoBiz
 Zero balance account with AED 200 monthly fee
 Apply via the official NeoBiz site: https://www.mashreq.com/en/uae/neobiz/
 Client receives a reference code ('NX') to track status:
https://digital.mashreqbank.com/business-banking/track-application
 All activities permitted except gold trading
 High-risk clients must have a physical office
 Relationship Manager: Manish Shaw (+971 55 653 8411)

UBL Bank (United Bank Limited)


 Minimum balance: AED 100,000
 Only for high-risk activities (confirm with banker first)
 Supports USD and EURO transactions

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