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The best bank in UAE for your business

The best bank in UAE for your business

Nowadays, the United Arab Emirates is considered to be the world’s most important and rapidly developing financial and business hub.

The Government of the United Arab Emirates puts all the efforts to increase the attractiveness of the country to investors, businesspersons and entrepreneurs from all over the world. Besides, a lot of work is done with the purpose of creating the most favourable business-friendly environment for carrying out investment and business activities.

The UAE banking system provides representatives of the business sector with the numerous competitive opportunities and favourable advantages. In fact, many banks offer the utmost various financial tools and specialized business services for corporate clients.

In fact, there are numerous banks that provide specialized services for corporate clients. However, the list of the TOP-3 most popular and highly ranked banking institutions for carrying out business activities includes:

  • Emirates NBD;
  • Mashreq Bank;
  • Abu Dhabi Commercial Bank.

These banks are considered to be the best for opening business accounts in the United Arab Emirates. What are the features of these banking institutions?

Emirates NBD

Emirates NBD is the largest and the most reliable bank of the United Arab Emirates. Besides, it holds the top position among all the UAE banks regarding the quality of the corporate financial services.

Emirates NBD provides the full range of the corporate financial instruments and banking services for corporate clients. Such banking instruments include all the types of business bank accounts, business loans, mortgages, etc.

Emirates NBD is the best bank in the UAE for opening business bank accounts. This bank is ready to provide with the best bank accounts in the UAE that will meet all business and financial requirements. In fact, you can choose from:

  • Current Account — a checking account with free international debit card as well as availability of a cheque book and overdraft facilities;
  • Fixed Deposit Account — AED 10.000,- minimum deposit, availability of an overdraft facility and possibility of a premature withdrawal;
  • Call Deposit Account — no fixed amount, withdrawals are possible with 24-hour notice.

Also, it should be noted that all the bank accounts are available in various currencies and have competitive interest rates.

Besides, there is an opportunity of obtaining an insurance certificate for various business purposes.

Mashreq Bank

Mashreq Bank is the oldest private bank in the United Arab Emirates. This bank has the long and vast experience of serving corporate clients.

Among the numerous business products and services the corporate client's area offered are:

  • Trade finance;
  • Contracting finance;
  • Project finance;
  • Investment banking;
  • Corporate advisory;
  • Cash management;
  • Wealth management;
  • SME and private banking, etc.

Besides, Mashreq Bank offers the most various business account solutions including:

  • Value Plus Account — transaction account with a Visa Business Platinum Debit Card, which can be opened in multiple currencies and a possibility of using various insurance and personal financing products. Minimum account balance — AED 25.000,-;
  • Business Premium Account — efficient business bank account with a free Business Platinum Debit card, free business chequebooks and 10% rebate on trade fee. Minimum account balance — AED 150.000,-;
  • Business Platinum Speed-X Account — transaction account with a Visa Business Debit Card, which can be opened in multiple currencies, 25% off on trade transactions and cost-effective business financing products.

Besides, there is an opportunity of making a Term Deposit with a period from 7 days to 1 year and a possibility of a premature withdrawal. The minimum required account balance amounts AED 10.000,-. However, it should be taken into consideration that this option is available only under the condition of having current or savings account with Mashreq.

All the business account holders get free access to the Online-Banking service and may take advantage of the numerous additional business products including Business Insurance, favourable investment programmes, etc.

Abu Dhabi Commercial Bank

Abu Dhabi Commercial Bank offers two major types of accounts for business purposes:

  • Business Current Account — specialised bank account for the various business purposes (available in AED, USD, EUR and GBP);
  • Commercial Banking Call Account —deposit account with the easy access to the available funds (available in AED, EUR, USD and GBP).

At the same time, each account is available in the various account options, which are designed for solving the most various business financial tasks. These account options differ both in the purpose and in the size of the minimum account balance.

Business Current Account is available in the following options:

  • Standard Current Account — AED 25.000,-;
  • Premium Current Account —AED 50.000,-;
  • Preferred Current Account — AED 100.000,-;
  • Freezone Platinum Current Account — AED 250.000,-;
  • Priority Current Account — AED 500000;
  • Elite Current Account — AED 1000000.

Among the Commercial Banking Call Account options there are:

  • Standard Call Account — AED 5.000,-;
  • Preferred Call Account — AED 100.000,-;
  • Free Zone Platinum Call Account — AED 250.000,-
  • Elite Call Account — AED 1.000.000,-

Both Business Current Account and Commercial Banking Call Account holders get free access to the Online-Banking, IVR, and Mobile Banking services. Services of the Dedicated Relationship Manager are also provided.

Conclusion

The United Arab Emirates banking system provides all the necessary financial tools and banking services for corporate clients. Emirates NBD, Mashreq Bank, and Abu Dhabi Commercial Bank are considered the best UAE banks for opening business bank accounts.

 

 

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