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EMIRATES NBD LIV

EMIRATES NBD LIV

Emirates NBD Bank

MINIMUM SALARY

AED 0.00

MINIMUM BALANCE

AED 2500.00

MINIMUM DEPOSIT

AED 0.00

  • Cheque Book
  • Debit Card
  • Mobile Banking App
  • Fully digital and instant account opening
  • Transparent and simple
  • Upto 1.5% interest p.a
  • Free platinum credit card*

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 6.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM20.00

Interest/Return

1.50 %

Minimum Balance

AED 2500.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 15.00

Features

  • Free LIV Visa debit card is provided on the account opening
  • Get up to 50% off at selected merchants which includes shopping, dining, entertainment and leisure
  • Get 25% OFF on movie tickets at Reel Cinemas
  • Get AED 200 OFF on flight ticket bookings on travelstart UAE
  • Get 30% discount on first three careem rides and 15% OFF on 4 careem rides monthly
  • Get Buy 1 Get 1 Free offers at Burger King and Papa John's
  • Provides 1.5% profit rate per annum
  • Can open the account online instantly using the liv app
  • Free Platinum Credit Card who met the credit card requirements such as minimum income, healthy bureau score etc.,
APPLY NOW
FAB ISave Account

FAB ISave Account

First Abu Dhabi Bank (FAB)

MINIMUM SALARY

AED 3000.00

MINIMUM BALANCE

AED 0.00

MINIMUM DEPOSIT

AED 0.00

  • Cheque Book
  • Credit Card
  • Debit Card
  • Internet Banking
  • Mobile Banking App
  • 2% per year on new funds deposited from 1 Feb to 30 Jun 2022
  • Instant account opening through the FAB Mobile app
  • Available in AED
  • No minimum balance requirement
  • No restrictions on the number of withdrawals

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 2.00

Transaction Charges Abroad

ATM2.00

Non-Bank ATM21.00

Interest/Return

1.30 %

Minimum Balance

AED 0.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 0.00

Features

iSave is an online account with the following features:

  • 2% per year on new funds deposited from 1 February to 30 June 2022
  • Instant account opening through the FAB Mobile app and Online Banking
  • Available in AED
  • No minimum balance requirement
  • No restrictions on the number of withdrawals

Band Balance Band Balance >AED 500,000 to AED 5,000,000 will earn upto 1.3% to 1.68% per year
Band Balance >AED 5000,000 will earn upto 1.68% and less

APPLY NOW
MASHREQ Neo Biz

MASHREQ Neo Biz

Mashreq Neo Bank Accounts

MINIMUM SALARY

AED 0.00

MINIMUM BALANCE

AED 0.00

MINIMUM DEPOSIT

AED 5000.00

  • Cheque Book
  • Debit Card
  • Mobile Banking App
  • Special Currency Transfer Rate
  • Mobile banking on the go setup account in 20 minutes
  • Exclusive preferential rates on partners like Zoho books
  • No minimum balance on Lite and Trader Pro
  • 10 free funds transfers per month

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

0.00 %

Minimum Balance

AED 0.00

Minimum Deposit

AED 5000.00

Monthly Min Balance Fee

AED 0.00

Features

  • 24/7 secure online banking
    24/7 cash and cheque deposits
    Mobile banking - Convenience on the go

    Customer can avail all the below facilities

  • Statements
  • Letters and Bank certificates
  • Copy of Outward Remittance
  • Demand Draft & Pay order issuance
  • Request - stop payment pay order/DD
  • Cancellation of DD/PO
  • Paid by PO/DD
  • TT returned due to discrepancy
  • Funds Transfer Amendment / Cancellation
  • Auto - fax of OTT/ITT advices (monthly charge) AED 100 AED 100 AED 100
  • Standing Orders
  • Request - calling back funds remitted against standing instructions
  • Copy of standing order instruction application
  • Standing order cancellation or suspension
  • Post Dated Cheques (PDC)
  • Extension of due date
  • Custodial Service per cheque Outstanding PDC report
  • Replacement/premature withdrawal per cheque
  • Miscellaneous Charges (related to Cheques)
  • Request for photocopy / details of cheques-less than 6 months
  • More than 6 months old
  • Stop Payment per Cheque
  • Partial Cheque Payment
  • WPS Payroll Service 
  • Non WPS Payroll
  • To Mashreq Bank account
  • To Other Bank account
  • Outward Clearing/Inter-City/Clean Collection
  • Inter-city Clearing (IBCI)
  • Special Clearing
  • Collection within UAE
  • Collection outside UAE
  • Foreign currency Cheque/Drafts Purchased
  • Cheque Returned unpaid
  • Inward Clearing/Book Transfer
  • Outward Clearing/Inter-City/Clean Collection
  • Processing Fees for Foreign Currency Sale to Customers
  • Minimun of AED 50 or the fees below, whichever is higher
  • Type of transaction NeoBiz
  • ame Currency FCY Withdrawal/Deposit of Cash 
  • Cross Currency FCY Withdrawal/Deposit
APPLY NOW
MASHREQ Neo Smart

MASHREQ Neo Smart

Mashreq Neo Bank Accounts

MINIMUM SALARY

AED 5000.00

MINIMUM BALANCE

AED 3000.00

MINIMUM DEPOSIT

AED 0.00

  • Cheque Book
  • Credit Card
  • Debit Card
  • Mobile Banking App
  • Special Currency Transfer Rate
  • Send money instantly to 30+ countries
  • International transfers to India and Pakistan free
  • Earn upto AED 2500 cashback on salary transfer
  • Earn 1.1% on deposit
  • With Mashreqpay earn 5% cashback

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 2.00

Transaction Charges Abroad

ATM20.00

Non-Bank ATM20.00

Interest/Return

1.10 %

Minimum Balance

AED 3000.00

Minimum Deposit

AED 0.00

Monthly Min Balance Fee

AED 25.00

Features

Quick Remit:
Free transfers to India, Pakistan, instant transfer and 24/7 available

Instant loan:
Designed as an exclusive benefit for customers who use Neo as their Salary account. Mashreq Neo customers can now fast track their wish list with Neo Instant loans. To find your eligibility , Click on the menu button and then the loans button, post you log in to your Neo app.

Mashreq Millionaire:
Purchase Mashreq Millionaire Certificates to participate in our monthly and quarterly lucky draws. Each certificate is valued at only AED 1,000. The more you purchase, the better your chances of qualifying for all prizes, including the grand prize of AED 1,000,000!

Pay Bills
Etisalat, Du, DEWA, SEWA, Salik, school fees, international mobile connections and 100 other partners. Let us know and we will handle everything for you. No extra cost.

APPLY NOW
Mashreq Neo Salary

Mashreq Neo Salary

Mashreq Neo Bank Accounts

MINIMUM SALARY

AED 5000.00

MINIMUM BALANCE

AED 3000.00

MINIMUM DEPOSIT

AED 3000.00

  • Cheque Book
  • Credit Card
  • Debit Card
  • Mobile Banking App
  • Special Currency Transfer Rate
  • Upto AED 2500 cashback on salary transfer
  • Earn Salaam points on your debit card spend
  • Zero Account Maintenance fee with salary transfer
  • Fast and Easy remittance
  • First check book free

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

0.00 %

Minimum Balance

AED 3000.00

Minimum Deposit

AED 3000.00

Monthly Min Balance Fee

AED 10.00

Features

  • Earn upto AED 2500 cashback with salary transfer as joining offer
  • AED 350 Early Bird Cashback (Cashback on Debiit card, Quick Remit, Insurance etc. transactions done within first 90 days
  • Monthly average balance of AED 3,000 or Debit card spends of AED 1,000 per month 
  • Minimum income of AED 5000 onlyAccess to global stock exchanges
  • Fast & easy remittances
  • Free first cheque book, 1AED per leaf from second check book onwards
  • Enjoy 1% p.a interest through MaxSaver
  • Invest in gold and foreign currencies
APPLY NOW
Mashreq Neo Saving

Mashreq Neo Saving

Mashreq Neo Bank Accounts

MINIMUM SALARY

AED 0.00

MINIMUM BALANCE

AED 3000.00

MINIMUM DEPOSIT

AED 3000.00

  • Credit Card
  • Debit Card
  • Mobile Banking App
  • Special Currency Transfer Rate
  • Free platinum debit card
  • Fast & easy remittances to 30+ countries
  • Apply for a Gold Investment Account for free
  • Get travel, dining and lifestyle benefits
  • Earn interest of 0.15% per annum

Transaction Charges in UAE

ATM 0.00

Non-Bank ATM 0.00

Transaction Charges Abroad

ATM0.00

Non-Bank ATM0.00

Interest/Return

0.00 %

Minimum Balance

AED 3000.00

Minimum Deposit

AED 3000.00

Monthly Min Balance Fee

AED 25.00

Features

  • 0.15% p.a. (for AED currency only)
  • Monthly average balance of AED 3,000 required
  • AED 25 + VAT per month (In case minimum balance requirement or required debit card spends is not achieved)
  • Does not need employment or a salary transfer
  • Minimum age requriement is 18 years
  • Utility Bill Payments (DEWA, SEWA, ADDC, Etisalat, DU and SALIK
  • Non Mashreq Credit Card Payment will be charged AED 10
  • AED 1 for domestic transfers
APPLY NOW

Best Banks for Digital Account

Comparison of some of the best digital bank accounts in UAE:

Features Mashreq Neo Endbd Liv Adib Moneysmart
Minimum Balance Neo Smart or Savings Account :AED 3000 Neo savings :Zero AED 2500 0
Minimum Balance Charge AED 25 AED 15 AED 0
Free Debit card Yes Yes Yes
Joining Offer Up to AED 2500 cashback AED 350 early bird cashback Yes Chance to win a tesla
Local Transfers FTS AED 1 FTS AED 1 Yes AED 50 charge SWIFT UAE FTS 1st free rest 1 per transfer
International Transfers Free India and Pakistan Over 30+ countries AED 25 India, Pakistan, Philippines - AED 9.9 UK: AED10 All other nations: AED 20 AED 100
Interest 1.1% interest with max saver account 1.5% interest To check the bank portal for monthly profit rate Aug 2021 is 0.4746 p.a
Minimum Salary AED 5000 for Neo Smart and Saver.Neo savings does not have a salary requirement AED 4000 Employed: AED 5000 Housewife, Students are eligible for an account as well
Documents required EID Passport, EID, Visa Documents required EID Passport, EID, Visa Passport, EID, Visa, Student ID for students Sal Cert which shows AED 5000 salary
Joint Accounts No No No
Self Employed Yes Yes Yes
Max cash withdrawal AED 10000 AED 25000 AED 15000
Customer Service +971 44246666 Click on icon at the top right corner > Select the reason > Verify your mobile & email address > Share details > Submit 600 54 0000 connect@liv.me 600524644

Features & Benefits of Best Digital Accounts

This automated and efficient system delivers banking services directly to customers through electronic and the internet channels. Some of the features and functionalities offered by these banks are

Seamless and instant account opening
Money Deposits, Withdrawls, and Transfers
Checking/Savings Account Management
Applying for Financial Products
Loan Managemnet
Paying bills/invoices
Account Services

It is estimated that US will have 47.5Million digital bank account users by 2025. The advancement of smartphones in the millennium opened the door for even more advanced transactions such as tap and go transactions, neo banks etc., 76 percent of customers use online banks regularly as of 2020.

The advantages of digital banking

One can now open a bank account withing minutes without going through the hassles of waiting in the branch and filling multiple pages of application forms. Documentation can be as simple as an emirates id.
Ability to make payments and transfers both locally and internationally on your digital bank account. Some banks offer free international transfers.
One can manage and access their accounts 24/7 and ensure all transactions are carried out seamlessly round the clock. This means better customer experience.
Since most of the banking activities can be carried on the mobile phone in a simple touch of a key, customers can utilize their time in a better way.
Most of the charges are lower than the traditional banks as the banks are able to pass down the cost saves to the customers in the form of joining offers, rewards etc., while using their digital banks.
Banks and financial services can’t afford to cut any corners when it comes to security and risk management. Aside from avoiding data breaches, a list of rules and regulations also apply to the data they hold. Compliance and security is a critical aspect and an ongoing process. As the app receives new features; and the regulatory environment, external risks, and operating environments evolve. From customer verification perspective some of the security related technologies which are being utilized by digital banks are
  • Identity verification
  • Facial recognition
  • Fingerprint scanning
  • Voice recognition
Digital banks are slim and less cumbersome than their ancestors, traditional banks. They are also constantly coming up with various services and features for customers by partnering with 3rd party fintech solutions. This means that they are often more flexible in adopting new technology and being able to quickly offer new services to customers.

Full KYC Savings Accounts in 5 easy steps

One Account. Multiple Services.

BANKING IN MINUTES

SMART PAYMENTS

BANKING ON THE GO

E-BUSINESS

E-PAYMENTS

SELF SERVICE

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FAQs

To open a digital bank account in the UAE, you need to follow these common steps:
  • Research & compare different digital banks operating in the UAE.
  • Choose a digital bank.
  • Gather the required documents.
  • Submit your application online
  • Wait for approval.
  • Account Activation.
    • Some popular options include: MASHREQ Neo Biz, MASHREQ Neo Smart, Mashreq Neo Salary, Mashreq Neo Saving, EMIRATES NBD LIV, FAB ISave Account, YAP, & ADIB Smart Living. The best digital bank account in the UAE depends on your individual needs and financial goals.
    Some of the best digital banks in the UAE include MASHREQ NEO BANK, Emirates NBD, First Abu Dhabi Bank (FAB), YAP, Abu Dhabi Islamic Bank (ADIB), & more. The best digital bank depends on individual needs and preferences.
    Top banks that offer digital accounts in the UAE are MASHREQ NEO BANK, Emirates NBD, First Abu Dhabi Bank (FAB), YAP, Abu Dhabi Islamic Bank (ADIB), Paytm, CASH, Moni, & more. Compare the features, fees, and customer reviews of each digital bank before making a decision.
    While some banks in the UAE provide free basic digital banking services, others charge fees for certain services or transactions. In the UAE, the cost of digital banking services varies based on the bank and the type of account you have. Before choosing a digital bank and account, it's important to carefully review the fees and charges.

    Digital banks in the UAE are subject to the same regulations and oversight as traditional banks, and they take steps to protect their customers' personal and financial information.

    However, it’s always good to avoid the risk of fraud and cyberattacks by following the best practices, like using strong passwords, avoiding public Wi-Fi networks, and keeping your device's software up-to-date.

    It's also important to choose a digital bank that has a good reputation and a proven track record of keeping its customers' information and assets secure.

    You should only install apps from trusted sources like the Apple App Store or Google Play Store.

    Finally, it's a good idea to monitor your account regularly and report any suspicious activity immediately to your digital bank. This can help you to detect and respond to any potential security breaches quickly, reducing the risk of financial losses.

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