How to open a bank account in Emirates NBD PJSC

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

March, 2008

Last contact

December, 2022

Last update

October, 2022

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 10 000 AED (~ 2 730 USD) - 3 500 000 AED (~ 953 000 USD);
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;
account maintenance fee is charged for certain tariffs;
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

March, 2008

Last contact

December, 2022

Last update

October, 2022

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+44 0 207 822 85 90

General information and rating

239

Global rating

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

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

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

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Minimum requirements

12 670

Minimum balance, €

No restrictions

Transactions permitted per month

12 670

Initial deposit of funds, €

Deadline for the initial deposit, month

Minimum balance, €

The minimum balance of the account is AED 10 000 - AED 3 500 000 (depending on the tariff)

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

No restrictions

Payment limit for credit cards, €/day

Outcoming transfer, €

Foreign currency transfer fee is 78.80 (~21 USD) and 52.50 (~14 USD) - online

Incoming transfer, €

There is no charge for incoming payments

Account maintenance, €/year

The account maintenance fee is charged only for the Prime plan and ranges from 157.50 AED (~43 USD) 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

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

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

RAKBANK

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

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How to open a bank account in Emirates NBD PJSC

General information and rating

Minimum requirements

Tariffs and services

Account opening procedure

Banks of UAE

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