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Key information and main requirements:
- the leading bank in the region;
- 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 minimum average monthly balance in the account is AED 50 000 * (USD 13 600);
- 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;
- any 5 transactions per month are free of charge. Every transaction beyond that costs to another country - from 65 AED (~ 18 USD)*;
- the account maintenance fee is charged if the account gets below the minimum balance and is AED 250 * (~USD 68) per month;
- online banking in English
* These fees are indicative and may vary depending on the banking package chosen by the client
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Bank's characteristics
General information and rating
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Global rating
Countrywide rating
Countrywide rating of the head bank
Global rating of the head bank
Credit rating
239
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Year of foundation
2007
History
Emirate NBD was formed in October 2007 following the merger of Emirates Bank International (EBI) and National Bank of Dubai (NBD) and immediately became the largest (in terms of assets) Gulf bank with total market capitalization of USD 11.3 billion. And retains this status to date. The bank operates in the UAE, the Kingdom of Saudi Arabia, Qatar, the United Kingdom, Singapore, and Jersey, and has representative offices in India and Iran
Personnel
The bank does not have Russian-speaking staff
Bank’s shareholders
Investment Corporation of Dubai (UAE) - 55,64%; Public - 44,36%
Confidentiality
AML legislation is strictly observed
Minimum requirements
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Minimum balance, €
Transactions permitted per month
Initial deposit of funds, €
Deadline for the initial deposit, month
Minimum turnover, €/year
12 446
No restrictions
12 446
0
No restrictions
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Minimum balance, €
The minimum balance of the account is AED 50 000 (~EUR 12 446, USD 13 600)
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
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Outcoming transfer, €
Incoming transfer, €
Account maintenance, €/year
Payment limit for credit cards, €/day
Funds to be blocked for CC issue, €
18
18
0
No restrictions
0
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Outcoming transfer, €
Any 5 transactions per month are free of charge. Every transaction beyond that costs to another country - from 65 AED (~ 18 USD)
Incoming transfer, €
Any 5 transactions per month are free of charge. Every transaction beyond that costs to another country - from 65 AED (~ 18 USD)
Account maintenance, €/year
The account maintenance fee is charged if the account gets below the minimum balance and is AED 250 (~USD 68) 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
VISA, MasterCard
Account opening procedure
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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
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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.
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