Every bank has its own eligibility criteria which needs to be checked individually. However, some basic requirements are as follows:
- You must be at least 18 years of age to open a current account
- You must be a UAE-resident to open a current account in UAE.
As is the case with eligibility, every bank can have its own requirement of documents to process your account application. Apart from the application form, some basic documents needed are:
- Original passport for verification along with a copy
- Copy of the residence visa
- Emirates ID or a copy of the application
- Salary Certificate / reference letter (for salaried individuals)
- Income source proof (for self-employed professionals)
- Proof of residence
Please refer to the list of documents required by the bank you wish to open your current account with.
Most banks also offer current accounts under Islamic laws of banking approved by The Shariah and Supervisory Board. Most banks offer free debit cards, internet banking, phone banking, SMS-banking and mobile banking services. Usually, banks offer Islamic savings accounts in AED, GBP, EURO and USD.
Most banks offer current accounts with a plethora of services. Here is a look at a few of them:
- HSBC: A premium current account is offered by HSBC called ‘Premier Account’. It has a requirement of a higher balance to be maintained in the account and comes with a host of features like a dedicated RM (Relationship Manager) and a global view of the account.
- Emirates NBD: A regular current account by Emirates NBD has a low requirement of minimum balance along with the standard features of a current account.
- Dubai Islamic Bank (DIB): DIB offers a Shariah compliant current account called ‘Al Islami Current Account’. Apart from the regular features of a current account, it offers free bill payment facility, free cheque book, debit card and a relatively low minimum balance requirement.
- ADIB: ADIB Bank presents the ADIB Current Account, providing you with unparalleled flexibility to apply for cheque books, conveniently pay bills, effortlessly transfer salary funds, and withdraw cash without any charges at over 500 ADIB ATMs throughout the UAE.
ADIB Salary Cashback Offer - Get a one-time bonus of 50% of your monthly salary back when you transfer your finance (personal or home finance) and salary to ADIB and obtain one of the ADIB Covered Cards, such as Emirates Skywards, Etihad Guest, Etisalat Gold, Platinum & Signature, or Cashback cards. T&Cs Apply. The offer is valid up until 31st July 2023.