El Nilein Bank Business Account

Minimum Salary
5.000,00 د.إ

Description

El Nilein Bank offers a Business Current Account with a low minimum balance, no monthly maintenance fees, and a straightforward fee schedule for specific services. The account supports multi-currency operations and digital banking for SMEs and corporate clients.

Features

Account Package Overview

Account Type: Business Current Account
Minimum Average Balance Requirement: AED 3,000
Account Opening Fee: Free
Monthly Maintenance Fee: None
Currency Options: AED, USD (upon request)
Digital Banking: Online and mobile banking available

Key Features & Benefits

No monthly maintenance fees amortized across the banking year.
Free debit card issuance and unlimited ATM withdrawals at El Nilein Bank ATMs.
Cheque book facility with nominal issuance charges.
Comprehensive online banking for fund transfers, bill payments, and transaction tracking.
Multi-currency support for business operations in AED and USD.

Eligibility Criteria

Business Entities: UAE-registered companies (LLC, sole establishment, free zone), branches of foreign companies, professional firms, and freelancers with valid permits.
Signatories: Must hold valid UAE residence visa and Emirates ID.
Trade License: Valid and matching current business activity.

Detailed Schedule of Fees

Category	Service	Fee (AED)
Account Transactions	Cash Deposit (branch)	Free
	Cash Withdrawal (branch)	Free
	Teller Transactions (over free limits)	AED 10 per transaction
Cheque Services	First Cheque Book (50 leaves)	AED 35
	Additional Cheque Book	AED 35 per book
	Cheque Return (inward/outward)	AED 150 per cheque
	Stop Payment Instruction	AED 50 per cheque
Funds Transfers	Local Transfer (other UAE banks)	AED 20 per transaction
	Intra-Bank Transfer	Free
	International Transfer (online)	AED 26.25 per transaction
	Swift Copy	AED 15
Statements & Reports	Duplicate Statement (branch)	AED 25 per request
	Electronic Statement	Free
Account Maintenance & Closure	Dormant Account Reactivation (annual)	AED 100
	Account Closure (≤ 6 months)	AED 150

Documents Required

Corporate Documentation:
- Trade License and Commercial Registration
- Memorandum & Articles of Association (and any amendments)
- Board Resolution or Power of Attorney authorizing signatory powers
Identity Documentation (for each signatory):
- Passport copy with valid UAE residency visa
- Emirates ID copy
Proof of Address:
- Ejari tenancy contract, utility bill, or bank statement not older than 3 months
Additional (if applicable):
- Financial statements or bank reference letters for credit facilities
- UBO declaration for layered ownership structures

Additional Info

El Nilein Bank’s Business Current Account is well-suited for SMEs and professional firms seeking a cost-effective, no-frills business banking solution with low balance requirements and transparent service fees.