Middle East banking options in 2023

  Bank A Bank B Bank C Bank D
Our recommendation by preference 1 2 3 4
Summary at a Glance
Does our Client need to travel? Yes Yes Yes Yes
Initial deposit for AED$ corporate bank account 50000 10000 10000 50000
Minimum monthly balance in AED? 50000 10000 10000 5 - 25,000
Time it will take to open corporate bank account 4 weeks 4 weeks 5 weeks 5 weeks
Multi-currency single number bank account? Yes Yes Yes Yes
Multi-currency visa debit cards issued Yes Yes Yes Yes
Dedicated bank officer with cell phone contact? Yes Yes Yes Yes
Daily funds transfer limit? None None None None
Fees for inward wire transfer None AED 10 AED 25 None
Fees for outward wire transfer Min AED 85 Min AED 90 Min AED 50 Min AED 110
Monthly email statements? Yes Yes Yes Yes
Our rating of the bank’s customer service Good Satisfactory Poor Poor
Internet banking available? Yes Yes Yes Yes
Corporate cheque book available? Yes Yes Yes Yes
Corporate USD Debit card (visa) Yes Yes Yes Yes
Corporate GBP Debit card (visa) No Yes No No
International branch locations Press here Press here Press here Press here
Is legalization (apostille) required? Yes Yes Yes Yes
Which Embassy in your country of origin? UAE UAE UAE UAE
Bank account opening fee? No No No No
Monthly account maintenance fee in AED? None None 50 10
Fee schedule document? Press here Press here Press here Press here
SMS notifications available? Yes Yes Yes Yes
Security token devise available? Yes Yes Yes Yes
Internet Banking
How long to receive password and login name 2 weeks 2 weeks 2 weeks 2 weeks
Can make e-banking € £ US$ funds transfers? Yes Yes Yes Yes
Our rating of the internet banking facility Very good Excellent Very good Good
Bank Logistics
Your dedicated bank officer will be Mr. Mohamed X Mr. Rizwan Mx Mr. Banxxx Mr. Asad Bxxx
Direct telephone number +971 (0) 5xxxx +971 55xxxx +971 503xxxxx +971-50-24xxxx
How big is the bank in this country? Top 3 bank Top 20 bank Top 5 bank Top 10 bank
Bank credit rating? Baa1 A- Baa1 A+
Country credit rating? Aa2 Aa2 Aa2 Aa2
Regulated by which authority? UAECB UAECB UAECB UAECB
Any currency controls in UAE? Yes, regarding transfers to Libya or Argentina Yes, regarding transfers to Libya or Argentina Yes, regarding transfers to Libya or Argentina Yes, regarding transfers to Libya or Argentina

Contact us

For additional information on our Middle East corporate bank account services, please contact our in-house country expert, Mr. Petar Chakarov, directly:
client relationship officer - Petar
  • Mr. Petar Chakarov
  • Client Engagements Manager
  • Contact me!