Dubai bank accounts and payment systems.
Corporate bank account opening and payment systems in Dubai: application documents, process and collection channels. The decision to open an account rests with the bank concerned.
- Documents are prepared in the format the bank requires
- If an application is declined, a second bank is approached
Corporate Bank Account.
This is the company's main account, opened with an institution holding a banking licence. Invoices, salaries, tax and supplier payments are made through it; the suitable bank is agreed together before the application.This is the company's main account. The right bank is chosen together before applying.
- Wio Business
A digital bank; the account is managed entirely online.
- Mashreq NeoBiz
Mashreq's digital account for small and medium-sized companies.
- Emirates NBD
One of the major banks in the UAE; a traditional corporate account.
First Abu Dhabi BankThe largest bank in the UAE; a traditional corporate account.
Points the bank assesses in the application
- Activity
The product or service offered, the customer base and how well they match the licensed activity.
- Ownership structure
The identity of the shareholders and the manager, and their shareholdings.
- Source of funds
The source of the funds that will enter the account.
- Expected volume
An approximate estimate of the monthly number and value of transactions.
Payment and Collection Channels.
Payment institutions are not banks; they are subject to a different licensing and safeguarding regime. They collect payments made by card, through marketplaces and from abroad, and transfer them to your bank account. Which channel is required depends on your sales model.Not a bank; it collects payments and transfers them to your bank account. The channel you need depends on your sales model.
- StripeCard sales
Card payments on your website and in your app.
- PayPalMarketplace
Collections through platforms and marketplaces.
- BinanceCrypto payment
Receiving crypto payments from customers through Binance Pay.
Amazon Payment ServicesCard salesOnline card collection from local customers.
Network InternationalPOS and cardCard collection and POS infrastructure.
Account Application Process.
No timeframe is given for the steps; the bank's timetable is outside our control.
Choice of bank
The bank suited to your activity and ownership structure is agreed together.
Document preparation
Application documents are prepared in the format the bank requires.
Application and signature
The application is submitted; you need to be in Dubai once for the bank signature.
The bank's decision
The decision to open an account rests with the bank concerned; if an application is declined, a second bank is approached.
Payment channels
Once the account is open, the collection channels you need are connected.
Account Opening: Required Documents.
You can tick the documents you already hold; the remaining documents are prepared by us.
Requested from you
Most were supplied at the formation stage; they are reused in the application submitted to the bank.
- Description of the business activity and target customers
- Short statement on the expected transaction volume and the source of funds
The list varies by bank; the full list for the bank you apply to is shared before the application.
Frequently Asked Questions.
No. No intermediary can guarantee a bank's decision. Documents are prepared in the format the bank requires and the process is followed; if an application is declined, a second bank is approached.
The registration stage can be completed remotely; however, you need to be in Dubai once for the bank signature and visa procedures.
It depends on your activity, ownership structure and sales channel; the bank is chosen together before the application.
No. A corporate account is opened in the name of a company that has been formed and licensed in the UAE; the account application is therefore carried out as a step of the formation process.
Yes, transfers abroad can be made from a corporate account. Charges and exchange rates are set by the bank's tariff; no rate is committed.