How to open a bank account in Abu Dhabi Commercial Bank (ADCB)

GSL reference about the bank What is it?

Being professional intermediaries, we are limited in giving public opinion about some financial institutions. Please contact us directly to obtain more detailed feedback.

GSL rating

Beginning of cooperation

September, 2019

Last contact

April, 2024

Last update

February, 2024

one of the UAE’s largest banks, headquartered in Abu Dhabi;
the bank opens savings (deposit) and business accounts;
the bank only opens accounts to local companies: LLC, Free Zone Company, personal accounts for residents and non-residents;
do not open accounts for non-Emirati companies;
open accounts first in AED; USD, EUR – after 6 months;
the minimum average monthly balance in the account is AED 10 000 (~ USD 2 720);
the beneficial owner must visit the UAE for account opening;
the bank issues bank cards;
pre-approval procedure: a positive answer means that the account is most likely to be opened;
transaction fee – from AED 31,50 (~ USD 8,6)*;
the account maintenance fee is charged if the account drops below the minimum balance and is AED 150 (~ USD 40)* per month;
online banking in English

* These fees are indicative and may vary depending on the banking package chosen by the client

GSL rating

Beginning of cooperation

September, 2019

Last contact

April, 2024

Last update

February, 2024

Поиск консультанта...

+44 0 207 822 85 93

General information and rating

Not rated

Global rating

Not rated

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

Year of foundation

1985

History

Founded in 1985 upon merger of Emirates Commercial Bank, Federal Commercial Bank and Khaleej Commercial Bank. Has offices and ATMs throughout the country, as well as branches in India, Jersey, the UK and Singapore

Personnel

The staff speak English

Bank’s shareholders

The main shareholder is the Government of Abu Dhabi, with 65% of the shares held through a special investment fund

Confidentiality

Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed

Compare banks

Minimum requirements

2 530

Minimum balance, €

No restrictions

Transactions permitted per month

2 530

Initial deposit of funds, €

Deadline for the initial deposit, month

Minimum balance, €

The minimum average monthly balance in the account is AED 10 000 (~ USD 2 720)

Transactions permitted per month

There are no restrictions on the number of transactions

Initial deposit of funds, €

The initial deposit equals the minimum balance

Deadline for the initial deposit, month

The initial deposit is made at the time of opening the account

How fast payments are executed

The payments are executed same day

Tariffs and services

Outcoming transfer, €

Incoming transfer, €

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Outcoming transfer, €

Transaction fee - from AED 31,50 (~ USD 8,6)

Incoming transfer, €

Transaction fee - from AED 31,50 (~ USD 8,6)

Account maintenance, €/year

The account maintenance fee is charged if the account drops below the minimum balance and is AED 150 (~ USD 40) per month

Distant access to the account

Online banking in English

Financial products

The bank offers a wide range of banking and financial services, including bank accounts for corporate and individual clients, private banking, asset management, investments, and loans

Credit/debit cards

Yes

Account opening procedure

Days to open for incoming transfers

Case by case

Days to open for outcoming transfers

Case by case

References

Not necessary

Purpose of the account

Savings & current

Visit to the bank

The beneficial owner must visit the country for account opening

Required

For a corporate account: completed bank questionnaires for the company and owner; bank statements from the company account for the last 6 months (if the company is new, then bank statements from the owner’s other company account); copies of existing contracts with partners; office lease contract, cash flow chart, ownership structure chart, etc.

For a personal account: proof of identity (passport); proof of address (not older than 3 months); Resident Visa; CV; bank reference letter + bank statements for the last 6 months.

The list is not exhaustive. The bank may request any other documents and information

Types of accounts

Savings; Current

Chances to open an account

Predictable

Banks of UAE

Nel Bank

2 500

N/A

Un Bank

2 500

N/A

Dubai Islamic Bank

2 500

N/A

Arab African International Bank

2 500

N/A

Sharjah Islamic Bank P.J.S.C

2 500

N/A

Commercial Bank of Dubai (CBD)

2 500

N/A

Banque Misr

2 500

N/A

Emirates Islamic Bank

2 500

N/A

Abu Dhabi Islamic Bank (ADIB)

2 500

N/A

Abu Dhabi Commercial Bank (ADCB)

2 500

N/A

Mashreqbank

2 500

N/A

Ajman Bank

2 500

N/A

Emirates NBD PJSC

2 500

239

Share on social media:

How to open a bank account in Abu Dhabi Commercial Bank (ADCB)

<img src="https://gsl.org/en/wp-content/themes/gsl/i/single_banks/thumb_up_black_24dp.svg" alt="" data-eio="l"> General information and rating

<img src="https://gsl.org/en/wp-content/themes/gsl/i/single_banks/star_black_24dp.svg" alt="" data-eio="l"> Minimum requirements

<img src="https://gsl.org/en/wp-content/themes/gsl/i/single_banks/request_quote_black_24dp.svg" alt="" data-eio="l"> Tariffs and services

<img src="https://gsl.org/en/wp-content/themes/gsl/i/single_banks/savings_black_24dp.svg" alt="" data-eio="l"> Account opening procedure

Banks of UAE

Add a comment

General information and rating

Minimum requirements

Tariffs and services

Account opening procedure