Emirates NBD
Emirates NBD is a top-rated bank in the Middle East, offering a range of financial services to clients worldwide. Account opening at Emirates NBD Bank is available for both business owners and individuals. Would you like to set up an account with NDB? Continue reading our guide with detailed information.
History
Bank Historical Snapshot
Emirates NBD, originally known as the National Bank of Dubai, was established in 1963 by Sheikh Rashid bin Saeed Al Maktoum. It was the first national bank to be founded in Dubai. In 2007, the bank merged with Emirates Bank International (EBI), forming what is now known as Emirates NBD.
In 2012, the bank further strengthened its market position by acquiring Dubai Bank. At that time, Emirates NBD had established a presence in Egypt, the UAE, India, Saudi Arabia, China, and Indonesia. Nowadays, Emirates NBD has over 9,000 employees representing 70 nationalities. Due to this fact, this bank is one of the biggest employers in the UAE.
Services
Main Bank Services
The bank offers a boatload of services for its customers. For example, if you’re interested in personal banking, you can open a current account for everyday transactions. You can also apply for a debit or credit card for personal use. And if you plan to take out a loan or a mortgage for a home or car, the bank provides those services, too.
Emirates NBD also offers business accounts tailored to startups, small and medium-sized businesses, and large corporations. The bank provides corporate loans and e-commerce payment solutions.
If you prefer managing your finances online, you’ll be pleased with their user-friendly mobile app and the Smart Pass feature for secure access. Customers can also use international services, including multi-currency accounts, global money transfers, investment products, and financial planning tools.
Types of Accounts Offered by Emirates NBD
Before you open a bank account with Emirates NBD, you should pick the suitable option, depending on your goals. We have created a table with the main account types and their features:
| Current Account | Savings Account | Fixed Deposit Account | Business Accounts | Children’s Savings Account |
| The current account is a suitable option for daily transactions, as it includes a checkbook facility. You can open this account in multiple currencies. Additionally, it provides debit cards with huge transaction limits. Mobile banking? Yes, it’s available. The minimum balance for the NBD current account is $800 to $50,000. | You should have at least $800 in your balance to open a savings account. This type of account is a good choice for earning interest and saving money in various currencies. You will receive hassle-free access to funds, may link a savings account to a debit card, and get bonuses and rewards with higher savings. | This account type suits clients who want to deposit money for a fixed term and grab higher interest rates – up to 1.66%. The minimum deposit is around $3,000. This account provides low-risk investment and guaranteed returns. Additionally, you can expect early cash-out options with minimal penalties. | This is an excellent choice for entrepreneurs and businesses. The minimum deposit is $13,000. This account supports high transaction volumes and offers debit and credit card options. | Children’s savings account has no minimum balance requirements and is suitable for parents who want to save for their children’s future. |
Why Should You Opt for Emirates NBD for Opening an Account?
Non-resident accounts with Emirates NBD have numerous benefits. Here is a list of the key advantages for businesses and individual clients:
Moreover, the bank also actively supports business growth by offering a range of corporate accounts tailored to startups, small to mid-sized businesses, and large enterprises. You can take advantage of their payment solutions designed for e-commerce operations.
Requirements
Requirements for NBD Bank Account Opening
The primary requirement to open an account with NBD Bank is to gather a package of documents. Initially, you need to prepare copies of your valid passport (with UAE entry stamp for non-residents). Additionally, you should have a copy of your visa and documents that prove your address (for example, utility bills or rental agreements).
Moreover, the following requirement of NBD Bank for opening a non-resident account is to provide a salary certificate (if the account is intended for salary transfers). Clients who plan to open a business account should provide trade and license reference letters. Additionally, international clients are required to provide a tax identification number.
Steps
How to Open a Bank Account in Emirates NDB Offline?
If you can visit an official bank branch, you can complete this procedure with the assistance of a manager. The process is not perplexing if you have detailed instructions:
- Decide which account type you need to open. Analyze your financial goals and minimum deposit requirements. For instance, choose a current account if your goal is regular online transactions.
- The next step is to complete an application form, which will require you to provide your personal details. You can mostly apply online, at home, or in your office. Still, if you prefer, you can complete the application form at the bank branch, providing your name, address, mobile number, and other relevant details.
- Double-check your documents to avoid delaying the process. Ensure you have prepared everything that you need.
- Visit the bank branch. Pass the verification and file the required documents.
- Wait until your application is approved. The verification procedure takes a few days. You will receive a notification confirming approval if all documents and applications are complete and accurate.
- Make a minimum deposit (if required by your account type). After that, you can use your account for personal or business needs.
Onboarding
How to Open Emirates NBD Account Online?
Although setting up an account with Emirates NBD online is super easy, you should visit the bank branch and sign the necessary documents. Still, you can simplify the procedure, if you prepare before the visit and do some actions at home. Here is a step-by-step guide to what you should do:
- Download the official bank application, available for both iOS and Android devices.
- Input your personal and employment information.
- Scan, upload, or take photos of the front and back of your Emirates ID and your passport, and take a selfie, then tap “Continue.”
- Hit “Next” and select “Get Started.”
- Review and accept the Terms & Conditions of the application of use. Slide to confirm your agreement.
- Type in the OTP sent to your phone and email.
- Review or edit the name on your card and slide to confirm.
- Double-check your account info, set a new password, and tap “Continue”.
After that, you will still need to visit the bank branch to complete the verification process. Only when you complete this procedure can you use your new account and enjoy its opportunities. For instance, you may pay bills, transfer funds, check your current balance, and set up standing orders. On top of that, you can manage investments and use supplemental banking services.
Opening an account with Emirates NBD may include some challenges and require time to fulfill all the requirements. To stay calm and save your time, it would be better to delegate the process to the experts at Lawtter Solutions. Our specialists will handle the entire procedure, saving you time and effort.
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