Article image: Advantages of Working with the UAE Banks in Comparison with other international Banks

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In order to simplify new account opening, provide documents about your previous activity to the bank Full version

The reliability of banking systems does not have a lot of credibility in a great number of countries, especially in the case of carrying on business or making substantial deposits. That is exactly why foreign banks are of strong interest among the businesspersons who work at the international level.

What country is better to choose for opening a banking account? The UAE is notable for a full range of advantages among a great number of other countries.

Advantages of Opening an Account in the UAE Banks

1. 100% reliability

The UAE banks are more reliable than any safe box. The UAE banking system is built in such a way that short-lived banks have no chances to act. When opening an account in the UAE bank you can be completely sure that it will not go bankrupt leaving you holding an empty purse.

The UAE banks invest money in reliable projects, which yield constant profits, and the received profits are shared among the depositors.

Clarify the cost of opening company, corporate or personal bank account, obtaining a residence visa, or another question regarding business in Dubai, UAE:

2. Data Safety

In October 2014 the European Union member countries and a number of other states have signed the document nullifying bank secrecy. The UAE Government has refused to sign this document, noting that the safety of the UAE depositors’ data is their number one concern.

When opening a banking account in the UAE, you can be absolutely secure on your personal data safety and safety of information concerning banking accounts. The banks of the other countries cannot provide such guarantees.

3. Sound Liquidity

It is one of the mandatory requirements, which are set by the UAE Central Bank towards all financial institutions. Being a bank customer in Dubai or in any other emirate, you become completely protected against force majeure circumstances and have no reasons to worry about your money safety.

4. Low Maintenance Cost and the Highest Quality

Banking account maintenance in the UAE banks is much cheaper than in other European bank. At the same time, the level of service is much higher here and you will realize it at the first visit to the UAE bank.

There are very low fees for all banking transactions, and there are no charges at all if you have an active account with a required minimum balance. Besides, you can open accounts in any freely convertible currency. It is worthy of note that there is no currency exchange regulation and the UAE currency rate has been steady already for several decades.

5. Internet banking

Despite the fact that nowadays internet banking is offered by almost all banking institutions, only the Arab Emirates banks guarantee 100% protection from hacker attacks. This is quite a weighty argument when talking about money affairs.

By summing up all the abovementioned, it becomes obvious that the UAE banks are characterized by reliability, safety, stability, low fees and complete freedom from restrictions on capital placing / withdrawing.

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