Introduction to UAB Current Account in the UAE
United Arab Bank current account is an account with a bank from which money can be withdrawn without notice. It is an active account which caters to frequent deposits and withdrawals by cheque.
UAB’s Current Account is the ideal bank account for both individuals and companies. It provides customers with exclusive flexibility and aims to make all their banking transactions simple and efficient.
Features and Benefits of UAB Current Account
- Multiple currencies – UAB’s Current Account is available in UAE Dirhams and major international currencies like US Dollars, Euro and Pound Sterling. Other currencies are available on special requests by the customer. This allows for flexibility and ease of use for customers.
- Low monthly balance – UAB allows individual account holders to maintain a minimum average monthly balance of AED 3,000. Companies are expected to have a minimum average monthly balance of AED 10,000.
- Free ATM card – Account holders are provided with a free ATM card to cater to their needs. This enables them 24x7 access to their account through over 18 million ATMs around the world. The UAB ATM card is also accepted at over 27 million shopping outlets worldwide.
- Personalized Cheque Book – UAB account holders get personalized cheque book facility to suit their needs.
- Free Monthly statements – UAB’s Current account holders get free monthly statements related to their banking activity.
- Deposit and Withdrawal – Account holders can deposit and withdraw money at all UAB Branches. This ensures flexibility to access a branch near you.
- Free Electronic banking – UAB provides account holders free electronic banking services, which includes Phone Banking, Online Banking, ATM’s and Cash/Cheque Deposit Machines.
- SMS Notifications – Account holders can choose the option of SMS notifications which enables them to get account related information through SMS.
- Other Facilities – Customers can apply for credit cards, overdraft, loans and cash secured facility.
Eligibility Criteria needed to open a UAB Current Account
- The individual who wishes to open a Current Account should be above 21 years of age.
- The Individual should be a resident of UAE. Non-resident individuals cannot open a Current Account. Proof of residence should be provided to open the account.
- A UAE company registered as a public/private shareholding, sole proprietorship, general/limited partnership, LLC Free Zone establishment or a club, association or society can open a Current Account in UAB.
Why choose UAB’s Current Account?
United Arab Bank’s Current Account allows customers flexibility and provides exceptional services which are bound to leave the customer asking for more. The features and benefits appeal to a vast majority of the population and can be customised according to the needs of a customer. The hassle free account opening process and attention to detail make it the perfect bank account.
Frequently Asked Questions - FAQs
Does a UAB Current Account holder receive interest?
Will a ledger fee be charged?
Will a customer who does not maintain the minimum balance be issued a cheque book?
Is the personalised cheque book provided for free?
The UAB Current account is a non-interest bearing account, which means an account holder will not receive any interest on this account.
A ledger fee will be charged if the average monthly balance falls below the minimum average balance.
Yes, a customer who does not maintain minimum balance can be issued a cheque book provided that the issued cheques are covered by the account balance and the cheque book charges are maintained.
No, the personalised cheque book is provided at a nominal cost of AED 25.