Get FREE CONSULTATION with our team of experts! Click here to start!
Office - 216, Bank Street Building,

Bank Street Road,Burjuman,Dubai,UAE

+971 52 352 5763

Mon-Sat 9am-6pm

[email protected]

24 X 7 online support

What is Digital Account and How to Open Digital Account in Dubai, UAE?

In the United Arab Emirates, Dubai, you can open a digital banking account online. In terms of financial management, having a bank account is critical. Financial transactions have gotten a lot easier in the digital age. Previously, banks only provided internet banking services, which allowed account holders to access their accounts via the internet and perform tasks such as checking balances, transferring cash, and so on.

Banks have begun to give the option of opening a digital bank account immediately in order to make financial transactions even more convenient. Everything today can be done online, from creating a bank account to managing it. In this Blog, Dhanguard will explain how one can open Digital Account in UAE.

How to Rapidly Start a Digital Bank Account?

Opening a bank account can be done in a variety of methods, including visiting the bank with correct documentation, applying through mobile or on the bank's website, and having the account opened quickly.

The simplest method to get started with a digital bank account is to open an account online. The majority of well-known banks provide the option of creating an account online. Any account applicant should have a plan in place for the type of account they desire, as well as some fundamental documentation that must be filed online. A digital bank account might be either a savings or a current account.

What are the Pre-requisites for establishing a Digital Bank account?

The following are the conditions for opening a Digital Bank Account:

UAE Residency

For the purpose of opening a digital bank account, you must be a resident of the United Arab Emirates.

Age Requirements

The age requirement for opening a digital bank account is 18 years or older.

What are the requirements for opening a digital bank account in the United Arab Emirates?

The following are the requirements for opening a digital bank account

Salaried/Business Owners/Partners

  • They must have a minimum monthly income of AED 5000.
  • Only use this account for personal purposes.

Self-Employed

Non-Income-Based

  • Wives who stay at home (with house wife visa status)
  • Account for personal use solely for students (with their Student ID) and those under the age of 24.

What Documents are required to open a Digital Bank Account in the UAE?

The following are the required documents:

  • Passport (original)
  • Valid Emirates ID is required (for UAE Nationals & Residents)
  • Valid residency permit in the United Arab Emirates
  • Reference materials are required (optional)
  • Terms and Conditions of the Banking Service Agreement

Benefits of Opening a Digital Bank Account in the UAE

Opening a digital bank account is not only straightforward, but it also comes with a number of advantages

  • The ability to open the account at one's leisure and the ability to open the account at one's free time.
  • You may easily study each account type and select the most appropriate one;
  • You can instantly open a digital bank account and begin using the services available.
  • There is no need for paperwork; compared to creating an account offline, this approach provides you with significant discounts and offers.
  • The mobile application makes it simple to manage your account.
  • You can simply check your balance, make transactions, and pay bills, among other things.
  • You can earn a lot of money as well as bonuses.

Current Deals for establishing a Digital Bank Account

The following are the offers that are available when you open a digital bank account:

  • Free debit cards;
  • Discounts on entertainment, dining, shopping, and other activities;
  • Exclusive benefits that can be exchanged for a variety of refunds;
  • Exclusive travel, lifestyle, and other privileges;
  • Transfers both internationally and domestically are free.

What is the Procedure for establishing a Digital Bank Account?

The following are the steps to open a digital bank account:

  • Go to the website of the bank you'd want to open an account with;
  • Choose the account type you want to open;
  • Fill in the essential information requested, such as your name, age, occupation, contact information, account type, and other relevant information.
  • It's possible that you'll be requested to submit documents via the internet.
  • Your account will be quickly opened once you have provided the scanned information.

What should you think about when opening a digital bank account?

The following are some things to keep in mind when opening a digital bank account:

  • Be aware of the account's terms and restrictions, such as the initial deposit, needed minimum balance, withdrawal limits, and so on.
  • On the e-form for account opening, not all banks will ask for the same information. So make sure you have all of the necessary information and paperwork. Before you begin the account opening procedure, make sure you have scanned all of the essential documents.
  • Banks in the United Arab Emirates have made it easy for its customers to retain accounts as well as open new ones. Instant digital account opening is a useful feature with numerous advantages.

What Factors should you Consider before Selecting A Bank Account?

The following factors should be considered while choosing a bank account.

Type of Account

Choose an account that meets your needs. Different bank accounts offer various perks and advantages. So, before choosing a bank account, you must decide on the sort of account you want and which service will benefit you the most.

Fees

Many banks charge a fee to keep your account open. Low balance fees, overdraft costs, ATM withdrawal fees, and other fees are all levied by the bank on its customers, and they vary from one bank to the next. So, while choosing a bank account, be aware of the costs that will be charged and choose the one that is most appropriate for you.

Rate of Interest

Check to see if the account you choose pays interest. It is very important to check interest rates of several banks when opening a savings account.

ATM Services

Most banks offer ATM cards as a way to withdraw money from their accounts. You should look into the fees that will be levied on both domestic and foreign cash withdrawals. Banks usually only offer free cash withdrawals at their ATMs. Examine the ATM costs as well as the locations where it is located.

Internet Banking

Online banking is accessible at all times. Pay bills and obtain free e-statements if you don't want to go to the bank to transfer payments or check your account balance. Some banks also provide free internal payments when making online transfers. Discover which banks provide the greatest internet banking services. Check to see if the bank you've chosen has a mobile application. As a result, using a mobile application to access your bank account information will be simple.

Charges Incurred

If you withdraw money from your bank account on a regular basis, you will be charged a set amount of money. Check to see if there are any additional fees associated with digital banking. In the meanwhile, most banks provide a free check book for the first time, but you will be charged for subsequent ones. If your debit card is lost or stolen, only a few banks will charge you.

Conclusion

Aside from the aforementioned characteristics, a good bank will have benefits such as consistent policies, progressive administration, a coordinated system, savings mobilization, and so on. Cash's reputation should not be overlooked. The bank account is unquestionably necessary for keeping the money safe. It will assist you in gaining access to your funds in any unforeseen circumstance.

Dhanguard will now examine all available solutions and aid you in selecting the one that best meets your needs.

Frequently Asked Questions

The services that can be availed are request for cheque book, you can activate your card, set PIN using the digital Banking.

Customers who use digital banking frequently uses features such as loyalty programs and discounts through their mobile application. It is also said they will open their accounts with banks that offers these relevant features.

Yes, you can update your address and emirates ID using Digital banking.

Generally, there is no fees levied up on opening your account through digital banking. You just need to register using user id and password.

Get Instant Advice
Where To Find Us