How to open a bank account in Ajman Bank

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.

Beginning of cooperation

February, 2019

Last contact

June, 2022

Last update

September, 2020

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

Beginning of cooperation

February, 2019

Last contact

June, 2022

Last update

September, 2020

Поиск консультанта...

+44 0 207 822 85 90

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

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

Compare banks

Minimum requirements

6 100

Minimum balance, €

No restrictions

Transactions permitted per month

6 100

Initial deposit of funds, €

Deadline for the initial deposit, month

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

Outcoming transfer, €

Incoming transfer, €

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

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

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

Personal; Corporate; Savings; Current

Chances to open an account

Predictable