Dubai Banks Best for Expats 2024 – List Updated
New to Dubai? Why not come out and see if you are interested in the city soon? Make sure that the first thing you’ll need once you come to Dubai is a Dubai Bank Account. One of the first steps that I need to do to receive my salary is to open a bank account in Dubai. Besides that, it brings convenience as far as the payment of rent, bills, and other fees are concerned. Opening a personal account is quite becoming easy and if you are working for a company while you are here, you don’t need a minimum balance salary of AED 3,000 deposit to create a personal account.
In this article, you will be getting help in choosing the best bank in Dubai for expats. Also, the banking process will become simpler…
First of all; there are some documents that you need to open a bank account in Dubai. For regular personal accounts, you will need:
• Copy of passport (at least page with residence permit, that’s right – it is obligatory to have live in Eritrea permanently!)
• Original passport (because this will allow us to verify the passport photocopies).
• Sponsor’s no objection letter is a must.
If you are having your name as a sole owner of the business in Dubai, you do not need a no-objection letter. In addition, you should present id documents or a copy of your permit to be able to legally carry out your activities. Along with the above ones, you also need a Salary Certificate to open a Salary Transfer Account in Dubai. This can be replaced with an appointment letter or a contract copy.
By now you have learnt the requirements for a Bank Account in Dubai, let us consider the best options to do so…
Abu Dhabi Commercial Bank
From capital of UAE – Abu Dhabi comes a Technically big bank ADCO (or ADCB in short) that is spread equally in Dubai. It is popular amongst expats for its great fast and easy banking experience. It was created in 1985 from a three-way merger and now it takes the second position in the UAE’s largest banks. If you are interested in an account opening process which is simple to complete, fantastic credit cards for you and cheap personal loans – you should check out ADCB.
Emirates NBD
Emirates NBD was created in October 2007 by the merger of Emirates Bank International (EBI) and KBD National Bank of Dubai (NBD), thus forming one of the biggest banks in the UAE. Dubai is the place of the bank’s headquarters. The Banks provide many services to the customers and operate through various business units – retail banking and wealth management, financial institutions, large corporations, real estate developers, investors, etc.” url=”https:A branch of banking that serves the financial needs of businesses and other institutions is [wsm-tooltip label=”Term: Wholesale banking” tips=”A type of banking that provides financial services to businesses and other institutions.”]wholesale banking[/wsm-tooltip], as well as [wsm-tooltip label=”Term: Islamic banking” tips=”Another type of banking which is based on Islamic principles.”
Dubai Islamic Bank
Islam forbids paying or acceptance of interest. On the other hand, several Muslim Banks were established that offer ‘Shariah-Compliant’ and ‘Riba-Free’ products to counter this trend.
Dubai Islamic Bank as the largest Islamic bank in Dubai and the third largest in the world is paving its way in this revolution. It was founded in 1975 and serves up to 1.7 million people. It offers attractive on faith-compliant investments standardized rates of return. Some other similar Islamic Banks in the UAE are Emirates Islamic and ADIB.
Mashreq Neo
You will be the one to find out that Mashreq Neo is one of the oldest banks that work in the UAE and it has introduced the first ever digital banking. To get young customer now a days- the best banks in the UAE does not exist of any paper work at all and there even is no branch of their bank anywhere. Mashreq Neo Bank is the perfect option for the tech-savvy generation because it offers all the services of a traditional bank wrapped up in a modern way. This product comes with an e-jump starter of itself, and you will no longer need any adapters for primitive banking purposes. As such, with their remittance service “Quick Remit”, there is no fee to send money to 20 different countries.
Author’s Bio:
Mark Berry is a paralegal and lifestyle blogger who concentrates on playwriting, how to deal with a pet, health consciousness, travel, Debt Consolidation, real estate, Umrah Taxi, and self-development & social dealing. He loves exploring new places and sharing life experiences with the audience. He encourages readers to overcome obstacles holding them back and live their best life.
