digital banking in UAE

Things to know about Digital Banking in UAE

Digitalization has taken over the world. The banking sector in the UAE is going to a new level by adapting to digitization. Some of the banks started providing Digital Banking services in UAE to the customers. It makes banking easily accessible to customers. 

What is Digital Banking? 

Digital Banking in UAE is a way of banking that is different from traditional banking. As the name suggests, banking services can be availed online without visiting the bank. This is similar to online banking but digital banking is way ahead of online banking. In simple terms, Digital Banking includes banking services like online account opening, deposits, online payments, fund transfers, insurance, loans and much more. Consumers can avail these services online without a necessity to visit the bank in person.

Check: How to save money using Digital Bank accounts in UAE

What is the difference between Digital Banking and Online Banking? 

There is a misinterpretation that Digital banking & Online banking are the same. Though both of these are the ways of banking, they are different. Online Banking comes under Digital Banking. 

In Online Banking, the banking customer can avail banking services like fund transfers, bill payments, getting account summary, account statement online or using mobile apps without visiting the bank. Still, there is a requirement to visit the bank to open the account or apply for a banking service. 

Whereas, in Digital Banking, the customer need not visit the bank to apply for a banking service. They can avail banking services from anywhere and anytime using mobile apps or at the bank website. The process of banking is completely automated without human intervention. Apart from applying for banking products, the customer can also make payments, transfer funds, and avail several other services that can be availed using Online Banking. 

Advantages of Digital Banking 

  • Open bank account online 
  • Apply for loans, credit cards online 
  • Check account summary 
  • Get e-statements 
  • Avail banking services 24/7 
  • Transfer funds to other accounts at ease 
  • Move funds from one account to another easily 
  • Can maintain different accounts easily 
  • Get debit cards/ credit cards/ cheque book delivered at your preferred location
  • Avail banking services even during holidays
  • Need not visit the bank and wait in queues
  • Can get in touch with banking officials easily on any related queries 
  • No charges are levied to avail Digital Banking 

How secure is Digital Banking? 

A customer can avail Digital Banking services only by logging into their account using User ID and Password. The transactions are secured by OTP which will be sent to the user registered mobile number. Hence the chances of getting conned are less. 

Points to be noted: 

  • Do not write down your Digital banking passwords or login credentials anywhere 
  • Do not share your credentials with anyone including banking officials
  • Do not tell your banking card PIN to anyone 
  • If your ATM card is lost, report it on the bank website or app immediately and get it blocked 

Digital Banking in UAE

Digital Banking has kicked off in the UAE region as well. There are some banks that have already launched their Digital Banking products like savings accounts, credit cards, digital business accounts, etc. It includes,

Digital banking has made the lives of banking customers very easy. It has speeded up the process of banking. It has a huge impact on the way banking is done earlier. The future of digital banking will be something beyond this though the predictions are uncertain, the customer and bank relationship will be redefined. Ultimately, technology will reshape the banking business making it smarter. 

Meet the author
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Nikitha is a Senior Analyst at She has been writing about personal finance, credit cards, mortgage, and other personal finance products in the UAE. Her work on Mortgage loans has been featured by the GulfNews and other popular Financial Blogs in the UAE.







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