Mashreq Bank Current Account
Mashreq Bank offers a current account that eases the management of finances with respect to the customer’s daily transactions of funds. Mashreq Bank believes in combining flexibility, financial and non-financial benefits with convenience and ease of use.
Mashreq Bank has the aim of catering to the specific needs of its customers with a responsive current account.
Features of Mashreq Current Account
Following are few of the many benefits offered by Mashreq Bank Current Account
- Minimum Balance: A minimum balance of AED 3,000 is expected to be maintained
- Opening Amount: Minimum amount required to open a Mashreq Bank current account is AED 3,000.
- Non-Maintenance of Minimum Balance: In case the minimum balance is not maintained, a charge of AED 25 per month is levied for each month of non-maintenance of minimum balance.
- Free Transactions: 6 manned transactions per month are free of cost.
- Cheque Book: At the time of opening of current account, a free cheque book is offered.
Benefits of Mashreq Current Account
Following are some of the benefits of a Mashreq Bank Current Account-
- Assurance of fast and simple processing.
- At the time of opening a current account with Mashreq Bank, a cheque book and debit card are issued instantly in most branches.
- Funds in the current account can be accessed at any time via cheque or debit card.
- ATM services provided in more than 200 countries with over 1.8 million ATMs.
- Online banking services provided free of cost.
- Mobile banking services provided free of cost.
- Tele-banking services provided free of cost.
Eligibility Criteria for Mashreq Bank Current Account
Following are the eligibility criteria required for opening a Mashreq Bank Current Account-
- A minimum monthly income of AED 5,000 is required for opening a Mashreq Bank current account.
- Valid UAE residence visa.
- Applicant should be 21 years or more at the time of application of current account.
Documentation Required for Mashreq Bank Current Account
Following are the documents required in order to open a Mashreq Bank Current Account-
- Application form, signed and completed.
- Valid passport.
- Valid residence visa for expatriates.
- Emirates ID for UAE nationals.
Fees and Charges
Following are the fees and charges levied on a Mashreq Bank Current Account-
- An initial deposit of AED 3,000 or its equivalent in other currency is required.
- Minimum balance of AED 3,000 needs to be maintained mandatorily.
- A charge of AED 25 is levied per month for non-maintenance of minimum balance.
- 6 free transactions allowed per month, other than ATM and Online.
- Additional transaction fee of AED 10 is charged.
- In the event of closing of current account before the completion of 12 months, a fee of AED 100 is charged.
Why choose Mashreq Bank Current Account?
Mashreq Bank’s aim is to provide customers with easy access to a wide array of financial products and services. With a glowing record of almost 1 in every 2 households in UAE banking with Mashreq Bank, makes it a feasible solution for current account requirements. With offices in nine countries, including US, Europe, Asia and Africa, Mashreq Bank is a trusted name in financial institutions.
Frequently Asked Questions - FAQs
What is the penalty I have to pay for not maintaining AED 3,000 minimum balance?
Can a non-resident of UAE open a current account with Mashreq Bank?
What is the minimum balance that is required to be maintained every month?
Will I get a cheque book with the current account?
Can I get a debit card with this current account?
For non-maintenance of minimum balance, a charge of AED 25 is levied per month
A valid UAE residence visa is required to open a current account with Mashreq Bank. But, a Savings account can be opened without it.
A minimum balance of AED 3, 000 needs to be maintained every month with Mashreq Bank current account.
A free chequebook of 25 leaves is offered at the time of opening of Mashreq Bank current account.
Yes, a debit card is issued with Mashreq Bank current account at the time of opening.