Best Banks For Expats In The UAE part 1 – that will be the topic of today’s article.
Before introducing this article, if you are interested in our core services which are expat financial, insurance and mortgages, you can contact me here.
The best time to consider your financial situation is when you are moving to a new country.
Introduction
To expatriates, especially those newly moved to the UAE, choosing which bank to open an account with can be one of the biggest challenges ever. Banks in the UAE are known for their myriad choices when opening an account.
Still, some banks stand out from the rest. Some may have more branches than others, or they may offer more services to customers. Some have a better international presence than most. The best banks for expats in the UAE, however, go beyond good service and the number of branches.
They also provide attractive options for opening an account, such as having English-speaking customer service representatives and language options on a bank’s website. Banks can also provide different products for expatriates who want to save or invest long-term. These include saving certificates, money market funds, and time deposits.
For those with family members working abroad, banks offer wire transfers for free to foreign countries. Then some services help you manage your money more efficiently, such as Mobile banking. The best banks for expats in the UAE can provide you with all these services plus competitively priced accounts.
All of which is provided through an efficient online or mobile platform—and low fees on international ATM withdrawals. In this article, we will walk you through the best banks for expats in the United Arab Emirates. Not only is that, but you’ll understand the benefits of using them and many others. Read further!
Benefits of Using the Best Bank in the UAE
The world today is very much dependent on the Internet. Banks are no exception to this rule. The importance of Internet banking has risen exponentially because it provides several conveniences to customers worldwide.
Whether you’re at work or home, an easy connection to the internet will give you access to your account with just a few clicks away. As with any other online facility, there are certain risks associated with using Internet banking. That’s why it is important to choose the best bank to ensure top-notch security and reliability. The ten benefits of choosing the best bank in The UAE include:
24/7 Availability
An advantage of using the best bank In the UAE is that you will have access to your account at all times. This is an option that other banks do not provide because their customers need to make a specific request in order for them to grant access outside regular business hours or weekends.
Availability of Services
The best bank In the UAE provides various services designed to give you more control over your account. These include SMS alerts that inform you of any activity on your accounts so you can be aware of suspicious transactions. Mobile banking is also available, which allows you to manage your finances wherever you are.
Better Banking Experience
The best bank In the UAE offers an unparalleled banking experience with efficient and convenient services. You won’t wait in line to make transactions, nor will you need to communicate with staff members over the phone to receive answers to basic questions about your accounts.
Competitive Interest Rates
One of the biggest trade-offs many customers make when choosing a bank is whether or not they will get the best interest rates. However, at the best bank In the UAE, you enjoy some of the most competitive rates, which give you access to better returns on your investments.
24/7 Flexibility
Customers of the best bank In the UAE can enjoy flexibility by using several banking channels. You can visit the branch, call a staff member, chat online or send a secure message to get assistance. This allows you to find an option that works best for your schedule and needs, so you have better access to banking services.
Different Payment Methods
The best bank In the UAE also offers different payment methods to suit your lifestyle. You can easily pay your bills through online transfers, automatic payments, and SMS alerts. There are also several cards issued for different types of expenditures, so you have more options available when it comes time to settle your expenses.
Convenient Access
The best bank In the UAE makes sure that their customers have access to their accounts with just a few clicks. You can view your statements and balance, apply for loans or credit cards, refill your mobile phone’s prepaid credits, and manage all of your accounts in one location.
This option has become so popular among customers because there is no need to go inside the bank if you only want to do basic transactions.
Immediate Bill Payments
Another benefit of choosing the best bank in the UAE is that you can make bill payments quickly and easily. Your monthly phone bills, cable, Internet connection fees, and other bills can be paid immediately at any Kiosk within your preferred bank. This is another reason why the best bank in the UAE has become a favorite for many customers.
Customer Services Representatives
When you need assistance with your account, the best bank in the UAE offers customer services around the clock. You can contact them through email or social media and get a quick response to resolve whatever problems you may be having with your accounts. They are also available via telephone, where you can discuss all of your transactions if you need clarification on any of them.
No Minimum Balance Required
The best bank in the UAE does not set a minimum balance requirement on your account, unlike other banks where savings accounts require more money to be deposited. You can open an account with as little as AED 200 and enjoy all the benefits that come with it if you do not have a large amount of capital to deposit.
Best Banks for Expats in the UAE
Banks in the UAE are very supportive of their customers by offering a wide range of products and services. Most expats will want to open an account here, but if you are new to banking or living here, then it can be difficult to know where to start. Here is a list of the best banks for expats in the UAE.
1) Emirates NBD – Estimated Expat Deposits: $29 billion
The largest bank in the UAE and one of the largest banks in the Middle East – Emirates NBD is known for its professional approach to banking and customer service. They offer a full range of banking products, including personal, commercial, and corporate services.
Not only is that, but they provide investment banking, currency exchange, and trade finance. Customers can bank quickly and easily with internet banking, mobile apps, and 24-hour customer service via call center or at their local branch.
2) Abu Dhabi Commercial Bank – Estimated Expat Deposits: $28 Billion
ADCB offers all the services you would expect from a successful bank, including a modern 24-hour service across its 13 branches in the UAE. Customers can bank quickly and easily with internet banking, mobile apps, and ATMs located throughout the country. Also, they offer advice on mortgages or investments to help you plan your financial future here in the UAE.
3) Al Hilal Bank – Estimated Expat Deposits: $15 billion
Al Hilal Bank offers a range of services, including personal banking, commercial banking, cash management, treasury and investment services as well as private banking. Customers can enjoy a full suite of products and services whether they have a small business or an entire corporation to look after.
As well as being the bank behind one of the most popular banks in the GCC, Al Hilal also offers completely secure internet banking and customer service over the phone 24-hours a day.
4) Mashreq Bank – Estimated Expat Deposits: $7 Billion
One of the oldest banks in the UAE, Mashreq bank, originally started as a brokerage house for pearls in 1959. Today it has grown to be one of the most distinguished banks in the region, providing its customers with a full range of banking services, including corporate banking, retail, mortgage, and international services.
Aside from this fact, they offer Dubai-based customer service over the phone 24-hours a day as well as internet banking for maximum convenience.
5) Abu Dhabi Islamic Bank – Estimated Expat Deposits: $5 billion
Last but not least is Abu Dhabi Islamic Bank, a provider of consumer and trade finance as well as asset management services. With an impressive international network that includes branches in London, Paris, New York, and Hong Kong, amongst others, this bank is perfect for those wanting to import or export out of the UAE.
Customers can enjoy Islamic banking services as well as personal or commercial accounts, which are full of perks for expats, including free credit cards.
6) National Bank Of Abu Dhabi – Estimated Expat Deposits: $7 billion
With more than 45 years of experience in the UAE banking sector, NBAD is committed to being a great bank for customers. Customers can bank quickly and easily with internet banking, mobile apps, and 24/7 call center support. They offer all the services you would expect from a successful bank, including credit cards, mortgages, personal loans, and investment advice.
7) HSBC – Estimated Expat Deposits: $20 Billion
HSBC is one of the largest banking and financial services organizations globally, with over 57 million customers. They offer a full range of products, including current accounts, savings accounts, mortgages, loans, investments, and insurance. HSBC has around 50 outlets across UAE, including branches in Abu Dhabi, Dubai, and Sharjah, as well as a dedicated HSBC Expat hub in Al Garhoud.
8) Standard Chartered – Estimated Expat Deposits: $17 Billion
Established in 1858, Standard Chartered is a leading international bank operating in more than 71 countries and territories. They offer customers commercial, retail and private banking services and investment management. Customers can manage their finance online or mobile via internet banking or mobile apps.
9) Rashid & Bin Darwish – Estimated Expat Deposits: $4 Billion
One of the largest Islamic banks in Abu Dhabi, established in 1995, is known for its ethical approach to banking and customer service. They offer a full range of products, including current accounts, trade finance, investment banking, loans, mortgages, and investment services. Customers can also enjoy some of the best customer services in the market, with over 40 branches across the UAE.
10) Noor Bank – Estimated Expat Deposits: $25 Billion
A private joint-stock bank founded in 2004, well known for its wide network of branches and serving the banking needs of Emiratis and expats. They provide a range of personal and business banking services and Islamic banking and financial solutions for their customers.
Opening an account is simple, with no minimum balance requirements or monthly service charges. Personal banking services include Salary Package Account, Priority Banking Account, Diamond Banking Package, and Family Account. Noor Bank also offers expats access to Investment Solutions such as the Portfolio Management Service and Investment Advisory Consultation.
