C
Why Choose It? Emirates NBD is one of the largest banks in the UAE and offers a comprehensive range of business banking solutions. It caters to startups, SMEs, and large corporates with various account types (Current, Fixed Deposit, Call accounts) to suit different needs . Emirates NBD stands out for its extensive branch/ATM network and personalized support through relationship managers.
It acts as the playbook for how your company is run—both internally among partners and externally when dealing with regulators or investors.
• Full-Service Banking: Multiple account types and services (transactions, trade finance, cash management) for businesses of all scales .
• Digital Banking: Robust online and mobile banking platform for easy account management and payments .
• Wide Network: Access to a wide network of branches and ATMs across the UAE , which is convenient for cash handling and in-person needs.
• Relationship Management: Dedicated relationship managers provide personalized service for business clients .
Ideal For: SMEs and established businesses looking for a full-service bank with broad branch access and personalized support . (Note: Emirates NBD typically requires a higher minimum balance (~AED 50,000) to avoid fees , making it more suitable for businesses that can maintain that balance.)
Why Choose It? ADCB is renowned for its customer-centric approach and SME-focused banking solutions . It offers “Business Edge” and other accounts tailored for small and medium businesses, with relatively low minimum balance requirements and competitive fees. ADCB’s digital banking services (free internet and mobile banking) make day-to-day transactions convenient .
• Low Minimum Balance & Fees: ADCB’s SME accounts like Business Edge require a modest average balance (around AED 10,000) with manageable fees . They even have a Smart Start account option with zero minimum balance (AED 125 monthly fee) for new businesses .
• Digital Banking Services: Free internet and mobile banking are included, allowing easy online transfers, bill payments, and account monitoring .
• Industry-Specific Options: Offers specialized accounts or support for certain industries and an SME Academy program to help businesses grow .
• Strong Customer Support: ADCB is reviewed positively for attentive customer service and support teams dedicated to business banking needs .
Ideal For: Small and medium businesses that want competitive fees, solid digital banking, and good customer support. ADCB is a top choice for SMEs seeking a reliable bank with moderate balance requirements and value-added services for business growth .
Why Choose It? Mashreq Bank is known for its innovative approach, and its NeoBiz platform is one of the UAE’s first fully digital business bank accounts. NeoBiz is designed for startups and entrepreneurs to open and manage accounts without visiting a branch . Mashreq also offers traditional business accounts, but NeoBiz in particular provides flexibility and convenience with an emphasis on tech-savvy banking.
• Fully Digital Onboarding: NeoBiz allows businesses to open an account online or via the app with minimal paperwork, making it extremely convenient for new companies .
• Flexible Balance Options: Two account plans – Lite (zero minimum balance, AED 200 monthly fee) and Prime (AED 50,000 balance, no monthly fee) – let you choose to either pay a flat fee or maintain a balance to waive fees .
• 24/7 Customer Support: Mashreq provides round-the-clock support for business customers , which is a big plus for busy entrepreneurs.
• Integrated Payments & Services: Comes with free business debit cards, integrated payment solutions, and even extras like business insurance offers . The digital banking platform is user-friendly, enabling easy transfers, payroll, and real-time monitoring of transactions.
Ideal For: Startups and tech-savvy SMEs that prioritize convenient digital banking and low balance requirements. Mashreq NeoBiz is perfect if you want to open an account quickly online and enjoy modern online banking tools without the need for frequent branch visits .
Why Choose It? RAKBANK (National Bank of Ras Al Khaimah) has a strong reputation for serving SMEs and was even awarded “SME Bank of the Year” in the UAE . Its RAKstarter account is a zero-balance business account created specifically for startups and young companies. This makes banking accessible to new businesses that want to avoid hefty minimum balance requirements.
• No Minimum Balance: The RAKstarter Account requires zero minimum balance, and there is no fee for not maintaining a balance . This helps startups conserve cash. (A modest monthly maintenance fee around AED 99 may apply for the account service , but there’s no ledger fee for low balances .)
• Multi-Currency Options: Accounts can be opened in multiple currencies (AED, USD, EUR, GBP) to facilitate international business .
• Quick Onboarding: The bank offers a relatively fast application process (approvals often in ~2 weeks) . Companies less than 12 months old are eligible for RAKstarter (it’s specifically aimed at new businesses) .
• SME-Friendly Perks: RAKBANK provides a dedicated relationship manager even for RAKstarter accounts . It also offers free business insurance and accounting package deals for account holders as part of its SME support initiatives .
Ideal For: New startups and small businesses that need a cost-effective account with no minimum balance. RAKBANK is a great choice for entrepreneurs who value ease of setup and personalized support without having to lock up capital in large balances
Why Choose It? FAB is the UAE’s largest bank and offers a wide array of corporate banking services. It’s well-suited for larger businesses or SMEs poised for growth, especially those with international banking needs. FAB provides strong multi-currency support and global banking capabilities, given its scale and international partnerships.
• Multi-Currency Accounts: FAB business accounts can be opened in various currencies (AED, USD, EUR, GBP, JPY, etc.), which is ideal for companies dealing with overseas clients or suppliers . This flexibility in currency is a significant advantage for cross-border transactions.
• Tiered Account Packages: FAB offers different account tiers – e.g., Business Basic (minimum balance ~AED 10,000) for SMEs and higher-tier accounts like Business Advantage or First for larger corporations with higher minimums . Higher-tier accounts (requiring up to AED 100,000 average balance) come with additional perks and fee waivers .
• Advanced Services: As a full-service bank, FAB provides extensive services such as trade finance, treasury and FX solutions, corporate loans, merchant services, and more for comprehensive business banking .
• Digital and Branch Banking: FAB has a modern online banking platform and a large branch network. However, account opening for businesses may involve more documentation and due diligence, with approval times that can be on the longer side (often 3–4 weeks) .
Ideal For: Established companies and large enterprises, or SMEs requiring sophisticated banking (multi-currency, international transfers, high transaction volumes). FAB is especially fitting if your business can maintain higher balances and desires a bank with global reach and comprehensive services tailored to large-scale operations
| Bank | Min. Balance Requirement | Monthly Fee | Digital Banking & Onboarding | Multi-Currency | Ideal For |
|---|---|---|---|---|---|
| Emirates NBD | AED 50,000 average balance | AED 250 (if balance < min) | Robust online & mobile banking; online application available | Yes – accounts in major currencies (AED, USD, GBP, etc.) | All-sized businesses needing full-service banking and personalized support |
| ADCB | AED 10,000 average balance | AED 150 (if balance < min) | Modern online banking & app; online account opening form (quick setup ~1–2 weeks) | Yes – supports multi-currency accounts (separate FX accounts available) | SMEs seeking low fees, free e-banking, and strong customer support |
| Mashreq (NeoBiz) | Lite: AED 0 (no min.) Prime: AED 50,000 |
Lite: AED 200/month; Prime: No fee |
Fully digital onboarding via NeoBiz app; 24/7 online banking access | Yes – accounts in AED; FX services for other currencies (digital transfers at competitive rates) | Startups & SMEs preferring a fully digital bank account with flexible balance options |
| RAKBANK (RAKstarter) | AED 0 (no minimum balance required) | ~AED 99/month maintenance | Online banking platform + “Quick Apply” online application; fast approval (~2 weeks) | Yes – multi-currency available (AED, USD, EUR, GBP) | New businesses and entrepreneurs who want no min. balance and easy setup, backed by an SME-focused bank |
| FAB | AED 10,000 (Basic account) up to AED 100,000 (Premium tiers) | AED 100 (Basic fall-below fee) up to AED 300 (Premium) | Robust digital banking; onboarding via online inquiry but some in-branch process (approval ~3–4 weeks) | Yes – multi-currency accounts offered (e.g. USD, EUR, GBP, JPY) | Large companies or high-growth businesses needing multi-currency and advanced banking services, and able to maintain higher balances |
Note: All the above banks are UAE-local banks. Fees and requirements are current as of 2025, but always check with the bank for the latest terms. Many banks will waive monthly fees if you meet the minimum balance. Also, initial account setup may involve one-time setup fees (often AED 1,000–5,000) and documentation as per UAE Central Bank regulations.
The best bank account for your UAE business in 2025 ultimately depends on your specific needs – whether it's the zero-balance flexibility for startups, comprehensive services for larger enterprises, or cutting-edge digital banking for the tech-savvy entrepreneur. The top local banks we covered (Emirates NBD, ADCB, Mashreq NeoBiz, RAKBANK, and FAB) all have distinct strengths that cater to different segments of the business community, from new startups to established corporations.
By considering factors like digital banking features, multi-currency support, minimum balance requirements, and the level of customer service, you can confidently choose an account that aligns with your business priorities.
Setting up a corporate bank account is one of the most...
In a fast-moving business environment like Dubai, where agility and professionalism are key your workspace isn’t just a location...
Setting up a company in Dubai is more than just a licensing process...
