How to open a bank account in Mashreqbank

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

July, 2025

Last update

August, 2024

the UAE’s oldest private bank;
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 500 000 (~ USD 136 000) for business banking;
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;
5 any transactions per month are free of charge, each subsequent up to 20 transactions – AED 20 (~ USD 5), over 20 transactions – AED 40 (~ USD 11)*;
the account maintenance fee is charged if the account drops below the minimum balance and is AED 210 (~USD 57)* 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

July, 2025

Last update

August, 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

1967

History

Founded in 1967. One of the leading banks in the UAE with a growing presence in the region, including Egypt, Qatar, Kuwait and Bahrain. Twelve overseas offices in nine countries, including Europe, USA, Asia and Africa

Personnel

The staff speak English

Bank’s shareholders

Bank’s shares are listed on the Dubai Financial Market (stock exchange)

Confidentiality

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

Compare banks

Minimum requirements

126 500

Minimum balance, €

No restrictions

Transactions permitted per month

126 500

Initial deposit of funds, €

Deadline for the initial deposit, month

Minimum balance, €

Minimum average monthly balance in the account is AED 500 000 (~ USD 136 000)

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, €

5 any transactions per month are free of charge, each subsequent up to 20 transactions - AED 20 (~ USD 5), over 20 transactions - AED 40 (~ USD 11)

Incoming transfer, €

5 any transactions per month are free of charge, each subsequent up to 20 transactions - AED 20 (~ USD 5), over 20 transactions - AED 40 (~ USD 11)

Account maintenance, €/year

The account maintenance fee is charged if the account drops below the minimum balance and is AED 210 (~ USD 57) for business banking 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

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

Digital Bank UAE

3 250

N/A

Nel Bank

3 250

N/A

Un Bank

3 250

N/A

Dubai Islamic Bank

3 250

N/A

Arab African International Bank

3 250

N/A

Sharjah Islamic Bank P.J.S.C

3 250

N/A

Commercial Bank of Dubai (CBD)

3 250

N/A

Banque Misr

3 250

N/A

Emirates Islamic Bank

3 250

N/A

Abu Dhabi Islamic Bank (ADIB)

3 250

N/A

Abu Dhabi Commercial Bank (ADCB)

3 250

N/A

Mashreqbank

3 250

N/A

Ajman Bank

3 250

N/A

Emirates NBD PJSC

3 250

239

Share on social media:

How to open a bank account in Mashreqbank

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

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

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

Banks of UAE

Add a comment

General information and rating

Minimum requirements

Tariffs and services

Account opening procedure