Cross Border Capital Advisors

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emirates nbd pjsc in uae dubai bank

How to open a bank account in Emirates NBD PJSC

Cross reference about the bank

Being professional intermediaries, we are limited in giving public opinion about some financial institutions. Please contact us directly to obtain more detailed feedback.

  • the leading bank in the region;
  • the bank opens savings (deposit) and business accounts;
  • the bank only opens accounts to local companies: LLC, Free Zone Company, some UAE offshore companies; personal accounts for residents and non-residents;
  • the bank does not open accounts for non-Emirati companies;
  • the bank works with USD, AED, EUR, GBP, CNY;
  • minimum average monthly account balance – from AED 200 000 (~ USD 54 450) to AED 500 000 (~ USD 136 125) – depending on tariff;
  • the account signatory / beneficial owner must visit the UAE for account opening;
  • USD payments are possible;
  • 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 transaction – AED 20 (~ USD 5,5)*;
  • account maintenance fee is charged in case the minimum balance decreases and is 250 AED* (~ USD 68) per month;
  • online banking in English

* These fees are indicative and may vary depending on the banking package chosen by the client

Cross rating 

2.5/5

Beginning of cooperation

February, 2019

 Last contact

November, 2023

Last update

October, 2023

Success based fee

2500 USD

Mohamed Shabana Lead Consultant UAE Banking

Mohammed

Lead Consultant “cross-border-capital-advisors” UAE Banking 

239 

Global rating

1

 Countrywide rating

 —

 Countrywide rating of the head bank

 —

Global rating of the head bank

Year of foundation

2007

History

Emirate NBD was formed in October 2007 following the merger of Emirates Bank International (EBI) and National Bank of Dubai (NBD) and immediately became the largest (in terms of assets) Gulf bank with total market capitalization of USD 11.3 billion. And retains this status to date. The bank operates in the UAE, the Kingdom of Saudi Arabia, Qatar, the United Kingdom, Singapore, and Jersey, and has representative offices in India and Iran

Personnel

There are English-speaking staff

Bank’s shareholders

Investment Corporation of Dubai (UAE) – 55,64%; Public – 44,36%

Confidentiality

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

50 000

 Minimum balance, €

No restrictions

 Transactions permitted per month

50 000

 Initial deposit of funds, €

0

Deadline for the initial deposit, month

Minimum balance, €

Minimum average monthly account balance – from AED 200 000 (~ USD 54 450) to AED 500 000 (~ USD 136 125) – depending on tariff

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

Order a consultation

    5

     Outcoming transfer, €

    5

     Incoming transfer, €

     Account maintenance, €/year

    No restrictions

     Payment limit for credit cards, €/day

    Outcoming transfer, €

    5 any transactions per month are free of charge, each subsequent transaction – AED 20 (~ USD 5,5)

    Incoming transfer, €

    5 any transactions per month are free of charge, each subsequent transaction – AED 20 (~ USD 5,5)

    Account maintenance, €/year

    Account maintenance fee is charged in case the minimum balance decreases and is 250 AED (~ USD 68) 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

    Credit/debit cards

    VISA, MasterCard

    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 account signatory / 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

    Bank

    The cost of opening an account, $

    Global rating

    Countrywide rating

    Cross rating

    Dubai Islamic Bank
    2 500
    N/A
    N/A
    3/5
    Arab African International Bank
    2 500
    N/A
    N/A
    2.5/5

    Sharjah Islamic Bank P.J.S.C

    2 500
    N/A
    N/A
    2.5/5
    Commercial Bank of Dubai (CBD)
    2 500
    N/A
    N/A
    3.5/5
    Banque Misr
    2 500
    N/A
    N/A
    3/5
    Emirates Islamic Bank
    2 500
    N/A
    N/A
    3.5/5

    Abu Dhabi Islamic Bank (ADIB)

    2 500
    N/A
    N/A
    3/5
    RAKBANK
    2 500
    N/A
    N/A
    3.5/5
    Abu Dhabi Commercial Bank (ADCB)
    2 500
    N/A
    N/A
    3/5
    Mashreqbank
    2 500
    N/A
    N/A
    3.5/5

    Ajman Bank

    2 500
    N/A
    N/A
    2.5/5

    Emirates NBD PJSC

    2 500

    239

    1

    3.5/5

    Bank

    The cost of opening an account, $

    Dubai Islamic Bank
    2 500
    Arab African International Bank
    2 500

    Sharjah Islamic Bank P.J.S.C

    2 500
    Commercial Bank of Dubai (CBD)
    2 500
    Banque Misr
    2 500
    Emirates Islamic Bank
    2 500

    Abu Dhabi Islamic Bank (ADIB)

    2 500
    RAKBANK
    2 500
    Abu Dhabi Commercial Bank (ADCB)
    2 500
    Mashreqbank
    2 500

    Ajman Bank

    2 500

    Emirates NBD PJSC

    2 500