Best Business Bank Account in Dubai
Opening the best business bank Account in Dubai after acquiring a Trade Licence is critical for every company. It is important to know that a corporation must have a bank account to conduct business or to make payments. Panacea Biz regards the UAE as the Middle East's business cornerstone. The region has established itself as a key financial hub by creating a competitive and friendly business environment that attracts investors and entrepreneurs from around the globe. The Central Bank of the United Arab Emirates keeps a close eye on the banking industry in the country.
Despite the volatile oil market and faltering investor confidence, several banks have maintained an impressive growth trajectory characterized by increased assets and net earnings.
| Banks in UAE | Popular Account | Branches & ATMS in UAE |
| Emirates Islamic Bank | Kunooz Savings account | 50 Branches & 39 ATMs |
| First AbuDhabi Bank (FAB) | FAB Savings account | 74 Branches and 100+ ATMs |
| ADCB | ADCB Savings account | 72 Branches & 450 ATMs |
| Dubai Islamic Bank (DIB) | DIB Savings account | 90 Branches & 520 ATMs |
| Emirates NBD | Emirates NBD Savings account | 33 Branches and 1081 ATMs |
| ADIB | ADIB SmartBanking account | 89 Branches & 577 ATMs |
| National Bank of Fujairah (NBF) | NBF Savings account | 48 Branches & 48 ATMs |
| Mashreq Bank | Mashreq Bank Savings account | 31 Branches & 31 ATMs |
| RAKBANK | RAK Bank Current account | 26 Branches & 131 ATMs |
| Standard Chartered Bank | XtraSaver Account | 5 Branches & 42 ATMs |
The sheer number of choices available can be confusing. To facilitate your decision-making process, we have carefully categorized banks based on different needs that may apply to you.
- Emirates NBD is the UAE's Foremost Bank.
- Liv Bank is the UAE's Pioneer Digital Bank.
- The best bank in the UAE for foreigners is Emirates NBD.
- The best business bank Account in Dubai UAE for non-residents is Emirates NBD.
- Mashreq is the best bank in the UAE for Indian foreigners.
- FAB is the best bank in the UAE for commercial purposes.
- ADCB is the leading bank in the UAE for small and medium-sized businesses.
- Outstanding UAE Bank for Savings: ADCB
First Abu Dhabi Bank (FAB) - The Top Business Bank in the UAE
FAB is the biggest bank in the United Arab Emirates and one of the biggest in the Middle East, with over $300 billion in assets. First Gulf Bank and the National Bank of Abu Dhabi merged to form FAB in 2017, which now has a sizable presence in several Middle Eastern nations and a vast network of branches and ATMs across the United Arab Emirates.
UAE's Most Secure Bank
FAB is maybe the safest bank in the United Arab Emirates from various angles. It's a dependable option due to its size, strong risk management practices, and a large amount of money. Thus, think about managing your wealth as well as having a company account with FAB.
UAE's Best Bank for SMEs: Abu Dhabi Commercial Bank (ADCB)
ADCB has a strong presence, with more than 40 branches in the United Arab Emirates and offices in important international markets like India, Singapore, Hong Kong, and London. It was the first bank in the UAE to release a mobile banking app, and it keeps spending money on digital technology to improve client satisfaction. ADCB is the best business bank Account in Dubai for many of our clients who run small to medium-sized companies. You can also open a corporate bank account in Dubai for your business.
What is the cost of establishing the best business bank account in Dubai?
Depending on the bank's fees and the minimum balance needed to keep the account open, the cost of opening a best business bank Account in Dubai may vary. We've put together a table that shows the minimum balance needed for each bank to give you a better idea.
| Bank | Business Account Name | Maintaining Balance |
| Abu Dhabi Islamic Bank | Business Elite Account | AED500,000 |
| Abu Dhabi Commercial Bank | ADCB Premium Current Account | AED100,000 |
| Emirates NBD | Emirates NBD Business Banking | AED50,000 |
| First Abu Dhabi Bank | Business Advantage Account | AED10,000 |
| Commercial Bank of Dubai | My Business Account | AED20,000 |
Top Best Business Bank Account in Dubai
1. Abu Dhabi Islamic Bank
Website: www.adib.ae
Location: Abu Dhabi, UAE
Contact Information:
Phone: +971 4 2477777, +971 5 5526 7108, +971 5 5526 7108
Email: customerservice@adib.ae
Abu Dhabi Islamic Bank (ADIB) is the best business bank Account in Dubai and offers a customized Business Elite Account that provides personalized business banking solutions for high-end businessmen. This business account is not suitable for everyone due to its astounding AED 500K keeping balance, but that's precisely because of its advantages. We think this account is more appropriate for high-end business owners and inaccessible to lesser ones.
2. Abu Dhabi Commercial Bank
Website: www.adcb.com
Location: Abu Dhabi Commercial Bank Building, Shk Zayed Street., P. O. Box: 939, Abu Dhabi, United Arab Emirates
Contact Information: •Phone: 600 50 2030, 600 56 2626 •
Email: contactus@adcb.com SERVICE HOURS •
Customer service via the Liv Bank app is available 24/7
Abu Dhabi Commercial Bank caters to all kinds of business owners with six different types of business accounts. Some people may find the AED 100,000 maintenance balance to be a bit excessive, especially small business owners, but the 0% interest rate and a ton of amazing bonuses more than makeup for it. This does, however, put it somewhat out of reach for newly established business owners, which is, in our opinion, a lost opportunity.
3. Emirates NBD
Website: www.emiratesnbd.com
Location: Dubai, United Arab Emirates
Contact Information: Phone: 600 54 0009, +971 600 54 0009
Service Availability: Seven days a week, twenty-four hours a day, customer service is available.
Emirates NBD is aware that every entrepreneur needs basic functionality in their business account. The Business Banking accounts offered by the bank accommodate all standard financial needs with reasonable costs and a manageable minimum balance of AED50,000.
4. First Abu Dhabi Bank
Website: www.bankfab.com
Location: Abu Dhabi, United Arab Emirates
Contact Information: •Phone: 600525500, +971(2)6811511
Service Hours: •Customer support is available 24/7 via the app
First Abu Dhabi Bank caters to the demands of individual business owners by providing a wide range of business account packages. Almost any business owner can easily access this bank, as it only requires a minimum balance of AED 10,000. Furthermore, it allows free inward local and international transfers and has a 0% interest rate, which makes it the best business bank Account in Dubai for businesses, particularly those just starting.
5. Commercial Bank of Dubai
Website: www.cbd.ae
Location: Headquarters, Baniyas Road, Dubai, UAE
Contact Information: Phone: 600 575 556, +971 600 575 556
Service Hours: Every day: 9 a.m.–5 p.m.
The Commercial Bank of Dubai's business account packages integrate your business and normal banking needs, making them ideal for clients who wish to have lower bank account balances. Emerging entrepreneurs can open business accounts with this bank because the minimum maintenance balance required is just AED 20k. In addition, there is a 0% interest rate on it and a 150 AED fine if the required maintenance balance is not maintained.
Best Business Bank Account in Dubai FAQs
Q. What amount of cash ought to be in my company's bank account?
A. Your company's needs will determine how much money you should have in your business bank account. Nonetheless, keeping a minimum balance of at least AED 50,000 is a smart idea. By doing this, you'll be able to prevent any low balance fees that your bank might impose.
Q. Can I open an account for my business without using any money?
A. No, money is required to start a business account. When you open a business account with a bank, you will have to pay a minimum deposit. Depending on the bank, the minimum deposit amount will change.
Start Your Banking Adventure in Dubai Right Now—We're Here to Help!
Are you thinking about opening a best business bank Account in Dubai? Panacea Biz is available to help!
Panacea Biz, the leading company formation consultancy in Dubai, has a proven track record of helping successful professionals and entrepreneurs from across the United Arab Emirates. Initiating banking services in Dubai and establishing a firm are also included in our services package.
