How to open a personal bank account in UAE

Apart from keeping your savings safe and secure, an account allows you to conduct several important transactions

Landed a new job and planning to move to the UAE? Renting a house or buying one? For all these reasons and more, it is vital to have a personal bank account in the UAE.

The benefits of holding a personal bank account are immense. Apart from keeping your savings safe and secure, an account allows you to deposit your income directly into a bank, pay your rent and utility bills with ease, and conduct various other transactions.

Here, we walk you through the process of opening an account.

>> Before you embark on opening an account, first find out which bank you want to open an account in. Then, find out the location of the branches of the bank and their working days and hours of service. It is best to keep in mind to also check the location of the bank’s ATMs near your home or work. Also, make sure the bank provides internet and digital services.

>> When opening an account, you will be asked by the bank to sign account agreements. Make sure you take the time to understand your obligations. You should also be aware that it can take up to four business days to complete the account opening procedures.

>> To open an account, you will need to provide several documents. You should confirm with the bank beforehand exactly which documents are required and what the information the documents must include. Without the right documents and information, you will have difficulty completing the account opening procedures. Make sure to talk to your bank first.

Here are the basic documents that are required:

When deciding to open an account, ask the bank representative about:

>> If the bank provides you with a debit card for your account, find out about the withdrawal limits as well as at which ATMs the debit card can be used and if there are any transaction fees.

>> One of the most important things to keep in mind when opening an account is to not share your PIN (security number) with anyone.

>> According to the Central Bank of the UAE, this information is not to be taken as legal advice, nor does it provide all of the details required to open an account. The onus remains on the customer to understand their obligations.