How to open a bank account in Ajman Bank

Beginning of cooperation Last contact Last update
February, 2019 June, 2021 September, 2020

GSL reference about the bank

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

Key information and main requirements:
- the bank is headquartered in Ajman, with branches all over the UAE;
- the bank opens savings (deposit) and business accounts;
- the bank only opens accounts to local companies: LLC, Free Zone Company, UAE offshore companies; personal accounts for residents and non-residents;
- the account opening timeframe - case by case (please ask your consultant);
- the minimum balance of account is AED 25 000* (~USD 6 806) for companies and AED 3 000(~USD 817) for personal accounts;
- the beneficial owner must visit the UAE for account opening;
- USD payments are possible;
- the bank issues bank cards;
- pre-approval procedure: a positive answer means that the account is most likely to be opened;
- the fee for transfer is AED 80 * (~USD 21);
- the account maintenance fee is charged if the account drops below the minimum balance and is AED 25 (~USD 7) per month;
- online banking in English

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

305 views 0
    Expand all Сollapse all

    Bank's characteristics

    General information and rating

    Двигайте таблицу
    Global rating Countrywide rating Countrywide rating of the head bank Global rating of the head bank Credit rating
    Not rated Not rated N/R
    Двигайте таблицу
    Year of foundation 2007
    History Founded in 2007. Bank shares were listed on the Dubai Financial Market in 2008. Two branches of the bank were officially opened in Ajman in 2009. The bank now has branches and ATMs throughout the UAE. Its headquarters are located in Ajman
    Personnel The staff speak English
    Bank’s shareholders 25% is owned by the Ajman government, other founding shareholders include leading financial institutions and individuals from the UAE. Bank’s shares are listed on the Dubai Financial Market
    Confidentiality AML legislation is strictly observed

    Minimum requirements

    Двигайте таблицу
    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    6 100 No restrictions 6 100 0 No restrictions
    Двигайте таблицу
    Minimum balance, € The minimum balance of account is AED 25 000 (~EUR 6 100) for companies and AED 3 000 (~EUR 732) for personal accounts
    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

    Двигайте таблицу
    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    20 0 0 N/A N/A
    Двигайте таблицу
    Outcoming transfer, € The fee for transfer is AED 80
    Incoming transfer, € No fees are charged on incoming transfers
    Account maintenance, €/year The account maintenance fee is charged if the account drops below the minimum balance and is AED 25
    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 Both credit and debit cards are available

    Account opening procedure

    Двигайте таблицу
    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    case by case case by case Not necessary Detailed Savings & current
    Двигайте таблицу
    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 Personal; Corporate; Savings; Current
    Chances to open an account Predictable
     
    RU EN