Q: Are there any additional charges levied on opening the account online?
A: You can open a zero balance account online on no charges involved.
Q: What is the minimum initial amount to be deposited?
A: The minimum initial deposit varies with each bank which starts from AED 1 and there are banks with no requirement of initial deposit.
Q: What is the processing fee for 0 balance account opening in UAE?
A: There are no processing fees to open a 0 balance account in UAE.
Q: Are there any charges on account closure?
A: Yes, banks charge some fees if you are closing your account within one year of activation.
Q: Do I get notified on my transactions?
A: Yes, you can get SMS alerts on each and every transaction made.
Q: Are there any charges levied on ATM withdrawals?
A: There are no charges if you withdraw from the same bank ATM.
Q: Are interest rates provided at all the banks?
A: No, few banks in UAE doesn’t provide interest on the zero balance accounts.
Q: Can I avail zero balance account services on international purchases?
A: Yes, you can get make international purchases using your money in the zero balance account.
Q: What are the charges to get a statement of account?
A: The charges on the statement of account starts from AED 25 which varies with each bank. Few banks provide the statement of account for free.
Q: Are Non-Residents eligible to open a zero balance account?
A: No, only UAE Residents with a valid Emirates ID are eligible to get a zero balance account in UAE.
Q: Are minors eligible to get a zero balance account?
A:No, the account holder must be 18 years old to apply for a zero balance account.
Q: On what basis the interest rates are calculated?
A: The interest rates are calculated on the balance maintained in the account.
Q: Can I use the free debit card provided, outside UAE?
A: Yes, debit card can be used outside UAE but foreign transaction fees are added.