UAE Banks - personal USD account

[Fred]

I didn't know this, will check it out, thanks for the tip!

Smart Salem Medical Center.

Furthermore they closed down last week the whole Al Quoz Mall Medical and Amer Center and opened a big new modern one with everything in one place like Al Karama in Jebel Ali.

 

[Michaelpitt]

I dont know, there you will talk with a bank clerk on cam, leave your fingerprints and card will be printed and handed to you at the end of the call. Its the new ”smart” bank office.

In city walk you can also do EID medical and receive report instantly through smart medical center.

I wish it was that simple for Business bank account as well

 

[mike400]

Ok will share a secret, City Walk Branch will open account and give you a card within 10 minutes.

Cool, when did you get a card like this?
And will they also open an USD account on the spot?

 

[Dandyline]

I wish it was that simple for Business bank account as well

You can start with a personal account, get some transactions going, use EMI in the meantime. After a couple of months, open a proper business account with the same bank as the personal account.

 

[Michaelpitt]

You can start with a personal account, get some transactions going, use EMI in the meantime. After a couple of months, open a proper business account with the same bank as the personal account.

What emi you suggest for uae ?

I was using wise and they no longer offer it.

 

[Dandyline]

What emi you suggest for uae ?

I was using wise and they no longer offer it.

Payoneer among others. There is a bunch.

 

[Fred]

We managed to open personal USD account with local UAE bank for @mike400

To clear up with some comments here in the thread:

You can't open a classic personal multicurrency Bank Account with a local UAE Bank within minutes!

They all need on average 1 week - no matter with which bank.

Everything described here like ADCB Hayyak, LIV and NEO is some type of "Online" Bank Account with AED IBAN only.

It's better then nothing but do yourself a favor and open a classic personal multicurrency Bank Account.

In cas of having issues - well that's why we are here for you.

 

[petal355]

Which UAE Banks do you recommend for opening personal USD account?

Is that possible and easy to open accounts in EU or swiss banks as uae resident?
Ps I see people on facebook dealing with outrageous fee for personnal transfers from binance, bitoasis or whatever, wonder why they dont just use a european bank if its possible

 

[Dandyline]

We managed to open personal USD account with local UAE bank for @mike400

To clear up with some comments here in the thread:

You can't open a classic personal multicurrency Bank Account with a local UAE Bank within minutes!

They all need on average 1 week - no matter with which bank.

Everything described here like ADCB Hayyak, LIV and NEO is some type of "Online" Bank Account with AED IBAN only.

It's better then nothing but do yourself a favor and open a classic personal multicurrency Bank Account.

In cas of having issues - well that's why we are here for you.

ADCB Is a normal account and will be opened immediately. ADCB Hayyak is just an app to open the classic personal account, not a "Online" bank like LIV and so on.

 

[Fred]

ADCB Is a normal account and will be opened immediately. ADCB Hayyak is just an app to open the classic personal account, not a "Online" bank like LIV and so on.

You can only open an AED Account at the uBank Branch by ADCB.

To get multicurrency account open you still need to visit a normal branch and wait on average 1 week to get it approved.

So in fact it's the same outcome like with Liv, NEO or Hayyak with the only difference of having the debit card in 10 minutes rather then in 1 day.

Anyway it's just to make here public how it's working in reality because for us as service provider it's annoying if people get unrealistic expectations for how things working in reality.

 

[BlueMist]

There is no real multi currency account in the UAE. Like in Singapore with DBS I have 1 account number which holds multiple currencies. In UAE you have to open separate account for each currency.

 

[Fred]

There is no real multi currency account in the UAE. Like in Singapore with DBS I have 1 account number which holds multiple currencies. In UAE you have to open separate account for each currency.

Thanks - that's my point.

You get with all major banks AED, USD, EUR, GBP IBAN - separate.

 

[PhantomOf ThePits]

Hi guys,

great info - thank you.

I was wondering how 'easy' it is to get a UAE bank personal account without being employee --- (visa through own company)?

What kind of documents would they require?


I assume best to go there once having EID and apartment or also possible while in Visa process ?

I bank 'offshore' -- i'd just need an easy-peasy local UAE bank (best is if more 'fintech') preferably with AED / USD / EUR account

Any advise welcome, thank you

 

[Nicholas Van Orton]

Hi guys,

great info - thank you.

I was wondering how 'easy' it is to get a UAE bank personal account without being employee --- (visa through own company)?

What kind of documents would they require?


I assume best to go there once having EID and apartment or also possible while in Visa process ?

I bank 'offshore' -- i'd just need an easy-peasy local UAE bank (best is if more 'fintech') preferably with AED / USD / EUR account

Any advise welcome, thank you

HI OP, personal bank account is easy once you've got your Emirates ID (don't start the process without it being physically in your hands)... you'll have to show proof of residence (hotel room number as shown in a tax invoice will do if you don't have a long-term rental in place yet), phone number and your share certificate...and in some cases (not that I've experienced it myself), they say they just walk out the door with the bank account already opened. You'll have to fill a few forms, answer some questions and you're good to go. ADCB, Mashreq and DIB are the best ones to begin with, and the ones I always recommend to first look at.

Hope this helps.

NVO

 

[PhantomOf ThePits]

HI OP, personal bank account is easy once you've got your Emirates ID (don't start the process without it being physically in your hands)... you'll have to show proof of residence (hotel room number as shown in a tax invoice will do if you don't have a long-term rental in place yet), phone number and your share certificate...and in some cases (not that I've experienced it myself), they say they just walk out the door with the bank account already opened. You'll have to fill a few forms, answer some questions and you're good to go. ADCB, Mashreq and DIB are the best ones to begin with, and the ones I always recommend to first look at.

Hope this helps.

NVO

excellent, thank you very much @Nicholas Van Orton

 

[Fred]

Hi guys,

great info - thank you.

I was wondering how 'easy' it is to get a UAE bank personal account without being employee --- (visa through own company)?

What kind of documents would they require?


I assume best to go there once having EID and apartment or also possible while in Visa process ?

I bank 'offshore' -- i'd just need an easy-peasy local UAE bank (best is if more 'fintech') preferably with AED / USD / EUR account

Any advise welcome, thank you

If you go with a good banker you can open the personal account within a day and get the Debit Card on the next day as well - that's at least for EU low risk passport holder. Beside of passport and Emirates ID nothing further is needed as a good banker manages everything else for you.