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How to Open An Emirates NBD Account

Jan 28, 2024 | Accounting, Business Setup

Emirates NBD, a leading bank in the Middle East, offers a straightforward process for individuals and businesses interested in opening a new bank account. Whether you’re a salaried employee, a self-employed professional, or a company representative, the bank’s inclusive policies and digital-first approach facilitate a seamless account opening experience. With just a few essential documents and the convenience of the Emirates NBD Mobile App, you can initiate the process of owning an account that caters to your financial needs.

The bank’s commitment to customer service, security, and a wide array of banking services ensures that once your account is active, you can access a modern, personalised banking experience. Read on to discover the simple steps to join the Emirates NBD family and unlock the benefits of their cutting-edge financial solutions.

Joining Emirates NBD

Steps to Open an Account

Opening an account with Emirates NBD is a breeze, and you can do it through various channels, including the convenience of a mobile app. To get started, you’ve got to be at least 18 years old. The bank welcomes a diverse clientele, including salaried, non-salaried, and self-employed. However, you can wait to open an account using the mobile app if you’re self-employed.

The Emirates NBD Mobile App offers an instant account opening service if you’re going digital. You’ll need an active UAE mobile number, an Emirates ID, a passport, and proof of income with a minimum salary of USD 1,631 (AED 5,000). Once verified, you can open your account in minutes and get your account number on the spot.

You can start receiving funds up to USD 1,631 (AED 5,000) through transfers or deposits right away. The mobile account is a full-fledged banking solution, offering a chequebook, round-the-clock access to customer service, and branch access. Plus, you can enhance your banking experience by adding products like credit cards, loans, investment accounts, and insurance.

Required Documentation

The documents you need to open an account with Emirates NBD depend on the type of account you’re after. For individual accounts, you’ll need your original copies of the following:

  • Emirates ID and its copy
  • A copy of your original passport
  • A copy of your Labour Card
  • Employee ID
  • A recent salary letter (especially for salary transfer accounts)

Joint account applications require all the documents listed for each account holder.

For company accounts, you’ll need the following:

  • Passport and Emirates ID copies for all signatories, owners, or directors
  • The required documents
  • The trade licence
  • Memorandum of Association (MOA)
  • A board resolution.

Emirates NBD sticks to Know Your Customer (KYC) and anti-money laundering rules, which means they need proof of identity to prevent fraud. So, keeping your personal info updated with the bank is essential.

Sometimes, they might ask for additional documents and will let you know if that’s the case.

If you’re not setting up salary transfers, you’ll need to maintain a standard current account with a minimum monthly average balance of USD 817 (AED 3,000). But if your salary is going into your Emirates NBD account, they’ll waive the minimum balance requirement. Standard current accounts come with perks like a chequebook facility, a free debit card, and the option to open an account in a foreign currency.

After your account is all set-up, you’ll get a welcome SMS and email with your account details. A courier will reach out within 1-2 working days to deliver your Welcome Pack, which includes your debit card and chequebook. Plus, the ‘invite code’ feature on the mobile app lets existing customers refer their pals to join Emirates NBD, helping to grow their banking community.

Screenshot Of Emirates NBD Website

Banking Services Offered At Emirates NBD

Personal Banking Solutions

With a variety of banking packages, Emirates NBD caters to different financial aspirations, whether you’re seeking wealth management, a broad spectrum of services, or tailored deals. Beyond conventional offerings, the bank enables you to swiftly establish an investment portfolio, with access to global and local equities, such as stocks and ETFs, across various markets, including the USA, European markets, DFM, ADX, and Nasdaq Dubai. The interface allows for creating a stock watchlist and immediately initiating trading.

The bank streamlines international money transfers via SWIFT for routine financial tasks and offers complimentary 60-second transfers to select countries. Emirates NBD ATMs facilitate cash withdrawals for both customers and non-customers. The bank’s app expedites bill payments for utilities and telecom services, with features for automating payments, managing card transactions, and monitoring account activity. Financial services such as loans on cards, instalment plans, cash advances, or balance conversions are also available.

Emirates NBD emphasises security and customisation in its offerings. You can adjust your details, set daily and transaction limits, and customise communication preferences. The Smart Pass feature bolsters security by authenticating transactions without OTPs and sends alerts for online banking activities.

Corporate and Investment Banking

For corporate clients, Emirates NBD delivers a robust array of services to support businesses across the spectrum. The corporate and investment banking division provides solutions for various financial requirements, assisting in business expansion and cash flow management and offering financial counsel for corporate endeavours.

Digital Banking Innovations

Emirates NBD strives to lead in digital banking innovations with initiatives like the Future Lab, which partners with industry leaders to ensure the bank’s resilience in the evolving financial landscape.

The ENBD X app, with its revamped interface, offers expedited access to over 150 banking services, many of which are executed in real time. It also allows for efficient management of your profile and security preferences.

The ‘Emirates NBD API Souq’ platform empowers FinTechs, developers, and corporate clients to create novel financial applications, reflecting the bank’s dedication to collaborative innovation.

To enhance accessibility, Emirates NBD has integrated Chat Banking via WhatsApp and connected its website with UAE PASS, simplifying account opening with a national digital identity.

Emirates NBD’s commitment to secure and convenient banking is acknowledged globally, with numerous awards for its pioneering role in digitalisation and innovation within the financial sector.

Screenshot Of NBD App In Apple App Store

How to Activate An Emirates NBD Credit Card

Activating your Emirates NBD credit card is a key step in starting to use it for transactions and managing your finances. The process is straightforward and can be completed through various channels, depending on whether you’re a new or existing bank customer.

New Customers

If you’re a new Emirates NBD cardholder, activation can only be initiated by contacting the bank directly. This security measure ensures that the card is in the right hands before it’s used. Emirates NBD provides round-the-clock contact numbers, making it convenient for you to call and activate your card at any time.

Existing Customers

As an existing customer, you’ll find the added convenience of activating your card through online or mobile banking, which is the fastest method. This process is quick and secure, allowing you to manage your card activation from the comfort of your home or on the go.

When you receive your new credit card, it’s a good idea to sign the back of the card immediately as an added security measure. Your signature is a verification tool merchants use to compare with the signature on your receipts.

Supplementary Cardholders

For those with supplementary cardholders, it’s essential to provide the bank with the mobile number of the supplementary cardholder. This enables them to receive SMS alerts for transactions made with the card. However, these alerts won’t include information about the remaining balance on the credit card. Once the mobile number is updated, authorisation code SMS messages will be sent to the supplementary cardholder, enhancing the security of transactions.

Smart Pass

Emirates NBD has introduced Smart Pass, a digital banking security feature that replaces traditional SMS authorisation codes. To use Smart Pass, make sure you have the latest version of the Emirates NBD mobile app installed on your mobile device. Your device should be running on Android version 8 or above or iOS version 10.3 or above. Also, your device’s date and time settings should be set to automatic.

Activating Smart Pass is a simple process. If you’ve migrated from the old app to the new ENBD X app, you’ll be prompted with a banner to activate Smart Pass upon logging in. You’ll need to review the terms and conditions and confirm your agreement to proceed. Verification of your registered email address is required, and you’ll receive a one-time password (OTP) on your registered mobile number to complete the activation. You’ll then set and confirm a new Smart Pass PIN, and your Smart Pass will be activated instantly.

Smart Pass can only be activated on one mobile device at a time, and a mobile device can only be configured with one user’s Smart Pass. If you want to activate Smart Pass on a new device, you must first deactivate it from the previous one. If you reset your mobile device to factory settings, you can continue using Smart Pass without any issues.

Once Smart Pass is activated, you can authorise transactions using biometric features such as touch ID or face ID, providing a seamless and secure banking experience. If you’re conducting a transaction and still need to activate Smart Pass, the system will prompt you to do so, ensuring that all transactions are authorised securely.

Screenshot Of UAE Pass App In Apple App Store

Benefits Of Opening An Emirates NBD Account

Starting your banking journey with Emirates NBD, a top player in the region, offers a host of advantages that meet a broad range of financial needs and lifestyles. As a customer, you’ll find various banking packages, each crafted to enhance your financial activities and provide a banking experience that’s tailored just for you.

What Are The Perks Of Having an Emirates NBD Account?

One of the main perks of having an Emirates NBD account is access to a suite of digital banking platforms and services that make your everyday banking tasks a breeze. With over 200 branches and 900 ATMs and Cash Deposit Machines (CDMs) across the UAE and abroad, the bank ensures you can get to your banking needs anytime, anywhere.

Emirates NBD will always be there if you’re into rewards and savings. The bank’s cards are loaded with exciting rewards and benefits, like up to USD 1,090 (AED 4,000) savings on debit card deals and the chance to earn up to USD 13,615 (AED 50,000) with Beyond deals. Credit card users can enjoy different perks, such as cashback and rewards on loans, with rewards reaching up to USD 1,361 (AED 5,000).

The bank also offers up to 10 free teller transactions per month, depending on your chosen banking package, and you’ll get your first chequebook on the house. Managing your finances is easier with Emirates NBD’s wealth solutions, which help you secure your financial future and reach your goals. Plus, the bank has a range of insurance plans to ensure you and your loved ones are covered when life throws a curveball.

Does the Emirates NBD Account Offer International Transactions?

Emirates NBD’s various Foreign Exchange (FX) products and services make these activities smooth for those dealing with international transactions. The bank also offers a wide array of transfer options, including 60-second transfers with DirectRemit, making it easy to send money both locally and internationally. What’s more, you can enjoy free unlimited international remittances, which can mean big savings over time.

Account Features

Opening an account with Emirates NBD is inclusive and welcoming to salaried, non-salaried, and self-employed folks. The requirements are simple, with a minimum balance and salary requirement of just USD 817 (AED 3,000). When you open an account, you’ll get a free debit card and the option for five supplementary debit cards, adding flexibility for family banking.

Investment opportunities are plentiful with Emirates NBD, as you get access to over 11,000 stocks and Exchange-Traded Funds (ETFs) in both Global and UAE markets. This opens up possibilities for growth and diversification in your investment portfolio.

In terms of account features, you can choose from a variety of currencies for your accounts, including the following:

  • AED
  • USD
  • GBP
  • AUD
  • CAD
  • SGD
  • JOD
  • KWD
  • SAR
  • QAR
  • OMR
  • BHD

This allows for a banking experience that fits your international needs.

Plus, the Family Savings Account offers higher interest rates, which can strongly incentivise families to save together.

To make sure you can make the most of your account, Emirates NBD provides a dedicated support centre for all your banking-related questions. This ensures any issues or concerns are resolved quickly, letting you take full advantage of your account’s features and benefits.

Ready to Get Started?

Starting a journey with Emirates NBD means stepping into a world of convenience, rewards, and financial growth. Our diverse banking solutions cater to varied needs, whether you’re making your first deposit or planning your next big investment. With easy account set-up, cutting-edge digital services, and a commitment to customer satisfaction, you’re not just opening an account but beginning a relationship with a financial partner that understands and evolves with you.

Rest assured, the path to your new Emirates NBD account is straightforward and secure, and our team is ready to welcome you. So why wait? Embrace the future of banking today and make your financial goals a reality with Emirates NBD.

FAQ’s

Can I Open a Zero-Balance Account in Emirates NBD?

Yes, Emirates NBD offers the option to open a zero-balance account, which exempts you from the requirement to maintain a minimum balance. This account type includes a complimentary debit card and the possibility of obtaining additional debit cards for family members without incurring extra charges.

What is the Minimum Salary for an Emirates NBD Account?

The bank stipulates a minimum salary threshold of USD 1,361 (AED 5,000) for account opening. This ensures that potential account holders have a reliable source of income, which is a standard practice for financial stability. Verification of income is necessary during the account set-up process.

What is the Minimum Balance for an Emirates NBD Savings Account?

For savings accounts, a minimum balance of USD 1,361 (AED 5,000) is required. Adhering to this balance can unlock additional benefits, such as eligibility for enhanced interest rates on specific savings products like the Family Savings Account.

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