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How to Open Bank Account in UAE

Opening Bank Account in UAE

Banks in UAE are Popular for personal or Business Goals to achieve and are now very easy to open Account in any Emirates of United Arab Emirates, while requirements from every bank will be different.
There are 3 types of Banking System in UAE and all of them are working under the Central Bank of UAE. Central Bank also regulates Finance Companies, Financial and Monetary Intermediaries, Financial Investment companies and Money Exchange Hubs. 

1.     Commercial Banking System
2.     Investment Banking System
3.     Islamic Banking System (Governed by Shari’a Law).

There are several types of Accounts in different banks; best accounts for Employees will be Current and Saving Account and we will only discuss Current and Saving Accounts here.

Tip: Before applying to any bank please be sure that you have a valid Visa with minimum 3 months remaining in expiry, Read bank Rules and Regulation, Charges and deductions per Transactions, ATM, Credit/Debit or Visa Cards Services and few other important things.
  
Requirements for Employees working in Companies:
Every Bank required different Documents please go to official sites of Banks or Call their customer Services numbers to confirm, but mostly Banks need Below Documents to open Current or Saving Account.

ü Original Passport with minimum 3 Months Expiry Date
ü Copy of Your Visa page (Valid Residency Visa)
ü A salary Certificate (NOC) from Employer or Sponsor with minimum 3500 AED Monthly salary
ü Original Emirates ID Card

Features of Current Account from Different Banks:

·        Free Debit Card with daily cash withdrawal limit of AED 10,000 and Daily Purchase limit of 7,000 AED.
·        This Debit Card will be accepted for purchases at millions of Shopping Outlets and for cash withdrawals at millions of ATMs Machines all around the World.
·        Free Monthly Statement of Your Account.
·        Free Check Book.
·        Free Electronic Services including Online Banking, Phone Banking Cash/Cheque Deposit Machines and ATMs.
·        Free Utility Bill payments including DEWA, SEWA and FEWA.
·        Mobile Service Banking.
·        Unlimited Teller Transactions.

Features of Saving Account from Different Banks:

·        Attractive Profit Rates.
·        Profit is credited to the account on a quarterly basis.
·        Available in either AED or US$.
·        Free Debit Card with daily cash withdrawal limit of AED 10,000 and Daily Purchase limit of 7,000 AED.
·        Opening Balance of 500 AED with salary Transfer and 1,000 AED for others or US$ 1000 for US$ Account.
·        This Debit Card will be accepted for purchases at millions of Shopping Outlets and for cash withdrawals at millions of ATMs Machines all around the World.
·        Unlimited Teller Transactions.
·        Free Electronic Services including Online Banking, Phone Banking, Cash/Cheque Deposit Machines and ATMs.
·        Free Utility Bill payments including DEWA, SEWA and FEWA.
·        Mobile Service Banking.
·        Free Etisalat/Du Bill Payment Facility.
·        Free Salik Recharge Facility.
·        Free Quarterly Statement of Accounts.

Which Bank should I Chose? 
There are more than 46 Banks in UAE chose the bank form below list you want, or Click on the names it will automatically redirect you to the official sites.
List of Banks in UAE:

1.      ABN Amro Bank NV
5.      Al Rafidain Bank
6.      Al Hilal Bank
9.      Arab Bank PLC


  
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2 comments:

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  2. I had to use the services of Mawarid Finance http://mawarid.ae and I have Titanium Ujra Credit card which is very easy to use. Bank is very secure and I liked working with it. I want to note all advantages: free supplementary and internet card, discount and privileges across shopping, entertainment and dining, free SMS service and a lot of other useful things.

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