Bank Melli Iran (BMI) UAE Business Account

Minimum Salary
5.000,00 د.إ

Description

Bank Melli Iran (BMI) UAE offers a Business Current Account designed for SMEs and professional firms, featuring multi-currency capabilities, tiered interest rates, and a transparent fee structure. A minimum initial deposit of AED 5,000 is required, with no ongoing minimum balance, making it accessible to small and medium enterprises.

Features

. Account Package Overview

Account Type: Business Current Account
Currencies Supported: AED, USD, EUR
Minimum Initial Deposit: AED 5,000
Account Opening Fee: None
Monthly Maintenance Fee: AED 52.50 (waived if balance ≥ AED 5,000)
Free Teller Transactions: First six per month; AED 10.50 thereafter
Interest on Balances (AED): Up to 0.25% p.a. on tiers above AED 50,000

Key Features & Benefits

Multi-Currency Accounts: Hold and transact in AED, USD, and EUR.
Corporate Online Banking: 24/7 access for transfers, statements, and bulk payments.
Corporate Debit Card: Available for ATM withdrawals and POS payments.
Trade & Cash Management: Support for trade finance, cheque services, and WPS salary processing.
Dedicated Relationship Support: For clients with higher balances or credit facilities.

Eligibility Criteria

Entity Types: UAE-registered companies (mainland, free zone), branches, professional partnerships, and licensed freelancers.
Authorized Signatories: Must hold valid UAE residence visas and Emirates IDs.
Trade License: Valid and matching declared business activity.
Compliance: Fulfill UAE Central Bank KYC and AML requirements.

Detailed Schedule of Fees

Category	Service	Fee (AED)
Account Maintenance	Monthly Maintenance Fee (balance < AED 5,000)	52.50
	Account Closure (≤ 6 months)	105.00
	Dormant Account Reactivation (annual)	105.00
Teller Transactions	First six free transactions/month	Free
	Additional Teller Transactions	10.50 per transaction
Cheque Services	Cheque Book (50 leaves; first book)	Free
	Additional Cheque Book	35.00 per book
	Cheque Return (inward/outward)	157.50 per cheque
	Stop Payment Instruction	52.50 per instruction
Funds Transfers	Intra-BMI Transfer	Free
	Local Transfer (other UAE banks)	21.00 per transaction
	International Transfer (online)	52.50 per transaction
	SWIFT Copy	Free
	Amendment/Cancellation of Swift	52.50 per request
Statements & Reports	Electronic Statement	Free
	Duplicate Statement (branch)	26.25 per statement
Salary Processing (WPS)	WPS File Upload	2.00 per beneficiary
	Standing Instruction Setup/Amendment/Cancellation	52.50 / 52.50 / 105.00
Interest Rates (AED Bal)	0.10% for balances AED 10k–50k	0.10% p.a.
	0.15% for balances AED 50k–200k	0.15% p.a.
	0.25% for balances AED 200k–5M	0.25% p.a.
	0.10% for balances > AED 5M	0.10% p.a.

Documents Required

Corporate Documentation:
- Valid Trade License, Commercial Registration, and Chamber of Commerce certificate
- Memorandum & Articles of Association (and any amendments)
- Board Resolution or Power of Attorney authorizing account signatories
Identity Documentation (for each signatory):
- Passport copy, UAE residence visa, and Emirates ID
Proof of Address:
- Ejari tenancy contract, utility bill, or bank statement (dated within 3 months)
Additional (if applicable):
- Recent bank statements (company or UBO)
- VAT registration certificate
- Bank reference letter or audited financial statements for credit facilities

Additional Info

The BMI Business Current Account is ideal for SMEs and professional firms seeking a multi-currency, interest-bearing, and digitally accessible business banking solution with transparent, modest fees.