business accounts

Dubai hosts ample options to foreign investors for selecting a specific bank. It has the presence of some of the large global banks as well as a number of local and Islamic banks which offer a wide variety of banking solutions to cater to every business need. Banks play a vital role in facilitating the success of a business. It can be a very tedious task to select a specific bank, but it is equally important to choose the one that aligns with your specifications, goals, objectives and interests.

Listed below are some of the favorable business accounts in Dubai:

Emirates NBD Business banking

The Emirates NBD provides a number of customized banking packages, one of which is its Business banking account. It facilitates all the basic banking necessities.

Features and benefits

  • Can avail the exclusive facilities of business banking 
  • Has branches, ATMs and cash deposit machines all over the UAE
  • Can avail online banking services related to business
  • Can acess the account in multiple currencies like USD, AED, GBP, Euro and JPY

Fees and charges for the Emirates NBD Business banking account:

  • Interest rate 0%
  • Min balance to maintain AED 50K
  • Monthly fee AED 200
  • Currency Account
  • Approval time 3 days
  • Local transfer cost AED 45
  • International transfer cost AED 85

Abu Dhabi Commercial Bank (ADCB) Premium Current Account

ADCB commits on addressing various business needs and meeting each requirement. They provide six different business accounts, each tailor-made to meet specific requirements. Premium Current account is one of the six accounts, it fulfills all the basic requirements of commercial banking

Features and benefits:

  • Should maintain a monthly average balance in the account.
  • Unlimited teller transactions.
  • Multi-currency flexibility.
  • Preferential pricing on payment transactions and internet banking.
  • Dedicated relationship manager.
  • Debit Card/ATM for easy access to funds.

Fees and charges for the ADCB Premium current account:

  • Interest rate 0%
  • Min balance to maintain AED 50K
  • Monthly fee AED 100
  • Relationship Manager
  • Currency Account
  • Approval time 3 Days
  • Local transfer cost AED 25
  • International transfer cost AED 50

Commercial Bank of Dubai (CBD) My Business account

CBD offers business bank account packages that are not only value-packed but also designed to meet your everyday banking requirements and expectations. The My Business account package is suitable for clients who prefer to maintain lower bank account balances.

Features and benefits:

  • Choice of 6 account currency denominations.(AED, USD, GBP, EURO, JPY, CNY)
  • Approval time 2 days
  • Free first chequebook and complimentary business debit card.
  • Branch-based client relationship management.
  • Complimentary Dubai Chamber of Commerce prepaid card.
  • Access to website-based business advisory services and business planning toolkits through Resource Centre.

Fees and charges for the CBD My Business account:

    • Minimum monthly balance AED 20k or equivalent in foreign currency.
    • Monthly charge AED 150 for not maintaining the minimum balance
    • Interest rate 0%
    • Local transfer cost AED 50
  • International transfer cost AED

FAB Business Advantage Account

FAB offers an array of banking solutions tailor-made for every business type and size. The business advantage account is offered with cheque book facilities and low minimum balance requirements.

Features and benefits

  • Highly competitive fee structure.
  • Should maintain a balance of AED 10,000 as minimum.
  • Mid-Market, SMEs and multinational companies can avail muliple currency option.

Fees and charges for the FAB Business advantage account:

  • Interest rate 0%
  • Minimum balance to maintain AED 10K
  • Monthly fee AED 100 for not maintaining the minimum balance.
  • Relationship Manager.
  • Currency Account.
  • Approval time 2 Days.
  • Local transfer cost AED 10.
  • International transfer cost AED 40.

Abu Dhabi Islamic Bank (ADIB) Business Elite Account

ADIB’s Business Elite account offers personalized business banking solutions to cater to every single need. It comes with a Relationship manager for banking convenience.

Features and benefits:

  • Free and unlimited teller transactions.
  • Business Platinum debit card with high ATM and POS limits.
  • Personalized ADIB business Platinum chequebooks.
  • Over 15 currencies including USD, EUR, GBP, JPY, CNY, etc.

Fees and charges for the ADIB Business elite account:

  • Interest rate 0%
  • Monthly fee AED 25
  • Minimum balance AED 200K
  • Approval time 1 day
  • Relationship manager
  • International and local transfer cost AED 0

There are a number of banks in the market offering customized/personalized banking solutions for smooth and ease of financial management. Every account is tailor-made to meet the need of certain business type/size. Understand your business banking requirement and compare them with what the banks are offering and go for the one that aligns.

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Hemanta Bijoy
Hemanta Bijoy Kaushik is a personal finance writer. Discovering his love for writing, he has written a number of blogs on personal finances and other genres on various digital media platforms. He has completed his MBA from IMT and currently working at HDFC bank as Personal Banker. When he's not writing, you can find him exploring different cuisines and binge-watching TV series. Hemanta hopes to write a novel soon. You can check out his work on www.instagram.com/hemantakaushik

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