About Current Account
Banking accounts in the UAE
Choosing to open an account in the UAE is a straightforward choice however the troublesome aspect is picking the ideal locations to open that account in. Or on the other hand even to pick the right kind of accounts to open. You can decide to open an account with a national bank or a business bank or even an unfamiliar bank. You can even decide to open a savings account, a current account, or a deposit account. Each account offers its own highlights and advantages which permit you to have the chance to truly pick an account that satisfies every one of your requirements whether it be of accounts offering an exorbitant interest to account meant explicitly for day-by-day transactions and settlement in numerous currencies. Current accounts are accounts that vary from savings accounts in their elements. For instance, while the current account can likewise have the least equilibrium conditions and give checkbooks to the clients, they will additionally offer overdraft and standing guidelines facilities that will permit you to spend more than the assets in the account or have standard installments made without you illuminating the bank each and every time. Current accounts additionally accompany global ATM/debit cards and a considerable lot of the current accounts will permit you to hold assets in the accounts in currencies like AED, Euro, USD, GBP, and so on. Needing a current account? Regardless of whether new to the UAE or essentially attempting to change your current bank account, there are broad bank account choices accessible today with different elements to suit your necessities. Working close by the UAE’s leading banks, we do all the difficult work for you, scouring the market for the main current, deposit, and savings accounts, considering things like; minimum income on a monthly basis, fees for money transferring, facilities regarding overdraft formations, exclusive rewards, and incentives. With our assist, you can track down the account that best suits your pocket and your way of life.Features of Current Accounts
- Current accounts can be utilized to transfer salaries.
- Funds can be held in these accounts in different currencies like USD, GBP, Euro, AED, and so forth.
- These accounts excessively accompany worldwide ATM and debit cards and checkbooks.
- The account can be opened by people or by ownership firms, organizations, or other such gatherings of people.
- These accounts additionally give overdraft facilities that can be availed after the bank has been educated regarding it.
- They will likewise permit you to make standing directions to deal with transactions that should be led on specific dates.
- A few banks might necessitate that you keep a minimum balance in your current accounts while others may not.
Current Account Fees and Charges
Fees & Charges
| Account Opening Fees | -Nil- |
| Minimum Balance | AED 3,000 |
| Breach of Min Balance (monthly) | AED 25 |
| Relationship Fee | Without fees |
| Non receipt of salary | Without fees |
| Utility Bill Payment (Internet & ATM Free) | AED 10 for counter Payment |
| Account Closure fee ( if closed within 1 year of opening) | AED100 |
| Standing Instruction set up. | AED 50 |
| Penalty fee for insufficient funds for standing orders | AED 25 |
| Account balance letter | AED 50 |
| No liability certificate | AED 100 |
| Release Letter | AED 50 |
| Liability letter issued to government departments/embassies / financial institutions | AED 100 |
| Dormant account charge | Without fees |
| Statement of Account (per cycle) (Free within the agreed cycle) | Outside the cycle AED 25 |
| Teller Services (6 free per month) | Additional at AED10 per transaction |
| Bulk cash deposit & withdrawal at teller counter | Without fees |