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If you resign from or lose your job, when your last salary payment is made it will be marked as final. This often leads to the bank account being frozen, especially if the account holder has any outstanding loan debts, such as a loan. The account will normally be unfrozen when proof of a news job position has been provided or once your loan has been repaid, if leaving the UAE for good.
Yes – you should always close your account before leaving for good as even if left dormant, the account may incur charges for falling under the minimum balance requirement. This could come back to haunt you if returning as a visitor in the future.
Yes. Most banks in place a number of comprehensive security measures to safeguard your use of online banking.
IBAN is an acronym for International Bank Account Number. It is a unique customer account number, which can be used confidently in making or receiving payments, both within the UAE as well as abroad.
Many UAE banks will offer you a credit card at the same time as you open a current account. Be wary about how you use any credit card taken as interest rates in the UAE are very high – often 30-35%. If possible, always pay off the full outstanding amount every month.
In the UAE, there are both Islamic and conventional bank accounts available. The key principle of Islamic Banking is that it is based on the Islamic faith and must therefore stay within the limits of Sharia law. While both systems offer the same financial products to customers, how they profit from that relationship is different. With Islamic banking, all forms of interest are forbidden… the bank works to profit rates rather than interest rates and the bank and the customer divide the profits.
Many businesses do not accept personal cheques although post dated cheques are often used to pay for car loans, personal loans or rent payments. It is important to note that you cannot stop a cheque in the UAE once it has been written and a bounced cheque is a criminal offence so could see you in jail.
Most banks have a minimum bank balance of AED 5,000 and if you fall beneath this, a small charge may be incurred. Please confirm exact details with each individual bank.
In order to open a bank account, you will normally need to provide a photocopy of your passport, a photocopy of your residency card, a passport size photograph, a No Objection Certificate from your employer and a salary certificate. Some may ask for more details such as your home country or UAE address. Please confirm exact requirements with each individual bank.  
This depends on your objectives. Is it for personal or business use? Is it for saving or spending? Do you need ATM withdrawal facility? Do you wish to make regular transfers to a savings account offshore? The answers to these questions, amongst others, will determine the best account for you. Use our handy comparison tools to compare the features of different options.