Al Maryah Community Bank (Mbank) Business Account

Minimum Salary
5.000,00 د.إ

Description

Mbank offers a single digital Business Account package with no minimum balance, zero monthly maintenance, and fully online onboarding. Fees apply only on specific services (e.g., remittances, cheque returns). Eligibility requires a valid UAE trade licence (or freelancer permit) and standard corporate and personal documents. All transactions are conducted via the Mbank Business mobile app or Corporate Internet Banking; physical branch services are limited to cash deposits at partner ATMs and kiosks.

Features

Account Package Overview

Package Name: Business Account
Minimum Balance: None
Monthly Maintenance Fee: AED 0
Fall-Below Fee: N/A
Onboarding: Fully digital via Mbank Business app or TAMM (for Abu Dhabi licence holders)
Currencies Supported: AED (future USD, EUR, GBP expected)
Account Types: Current Account & “Spaces” (sub-savings buckets)

Core Features

Digital-First: 24/7 access via mobile app and Corporate Internet Banking with maker-checker workflows
Debit & Virtual Cards: Instant virtual debit cards; optional physical cards issued free of charge
Cash & Cheque Deposits:
- Deposit via FAB ATMs and Al Ansari Exchange outlets (200+ locations)
- Multi-function kiosks in malls and head office
Utility & Bulk Payments:
- WPS salary processing free of charge
- Bulk file uploads for payroll and vendor payments
Credit Facilities:
- Overdrafts, business loans, Wio Business Credit line up to AED 250k (0% for 60 days)
Trade Finance:
- Manager’s Cheques, Letters of Guarantee; Letter of Credit coming soon
Value-Added Services:
- Free secure messaging, in-app customer support, real-time notifications

Eligibility Criteria

Entity Type: Companies registered in UAE (mainland, free zones), branches, and freelancers with valid permits
Signatories: Authorized signatory must hold valid UAE residence visa and Emirates ID
Trade Licence: Valid and current licence matching business activity
Turnover (for Credit Facilities): ≥ AED 375k or USD 100k annual turnover to apply

Documents Required

Corporate Documents:
- Valid Trade Licence (or freelancer permit)
- Memorandum of Association and any amendments
- Certificate of Incorporation and Board Resolution (where applicable)
Personal Documents (for each signatory):
- Passport copy, Emirates ID, UAE visa (if applicable)
Proof of Address:
- Title deed, Ejari, utility bill, bank statement, or VAT filing (dated ≤3 months)
Optional:
- Shareholding structure diagram; Company profile for multi-layered entities

Additional Info

Detailed Schedule of Fees

Service	Fee (AED)
Account Maintenance	0
Account Opening (via TAMM or digital)	0
Monthly Dormant Account Charge	315/year
Account Closure (≤6 months)	200
Corporate Internet Banking	0
Intra-Bank Transfers (Mbank⇄Mbank)	Free
Local Funds Transfer (to other UAE banks)	Free
International Remittance (online)	26.25
SWIFT Copy	Free
Amendment/Investigation	26.25
Cancellation/Recall	26.25
Cheque Return (inward/outward)	105 per cheque
Stop Payment Instruction	105 per instruction
Demand Draft Issuance/Cancellation	105 per transaction
WPS Salary File (per file)	Free
WPS Salary (per beneficiary)	Free
ATM Cash Deposit (FAB/Partner)	Free
ATM Cash Withdrawal (FAB/Partner)	Free
Physical Cheque Book (50 leaves)	Free first book; additional N/A
Virtual Cards	Unlimited, free
Debit Card Replacement	Free
Saving Spaces Interest	0% (current); 0% on Spaces

(All fees inclusive of 5% VAT where applicable)

Usage Recommendations

This zero-fee, digital-only Business Account is ideal for startups, freelancers, and SMEs seeking a cost-effective, fully online banking solution. For businesses requiring cash and cheque services, leverage the extensive partner ATM network. Advanced credit and financing options are available through the app’s facility request workflow.