Mashreq Business Account

Minimum Salary
0,00 د.إ

Description

Mashreq offers digital NeoBiz accounts—Lite and Prime—catering to different business sizes and digital preferences. Each package has distinct minimum balance requirements, maintenance fees, and charges. Eligibility requires a valid UAE trade license (or approved offshore entity), with a standard document checklist for account opening.

Features

NeoBiz Digital Accounts

Feature / Charge	NeoBiz Lite	NeoBiz Prime
Minimum Balance	Zero	AED 50,000
Monthly Maintenance Fee	AED 200	Waived
Online & Mobile Banking	Free	Free
Cheque Book & Debit Card	Free	Free
Account Opening	Fully online	Fully online

Eligibility Criteria

Entity Type: UAE-based companies (LLC, free zone, branch), offshore entities meeting bank policy, freelancers with a valid freelancer permit.
Residency: At least one authorized signatory must hold a valid UAE residence visa.
Minimum Turnover (NeoBiz Prime): Companies with annual turnover up to AED 30 million.
Trade License: Must be valid and submitted within application.

Mashreq NeoBiz offers three digital business account tiers—Lite, Prime, and Trader Pro—with distinct fee structures tailored to startups, SMEs, and high-volume businesses. Lite has no minimum balance but carries a monthly maintenance fee and per-transaction charges; Prime waives the maintenance fee with a modest balance requirement; Trader Pro targets large enterprises with higher balance thresholds and enhanced fee waivers.

Key Account Fees

Fee / Feature	Lite	Prime
Monthly Average Balance Requirement	AED 0	AED 50,000
Monthly Maintenance Fee	AED 200	Waived
Fall-Below Fee	Nil	Nil
Account Closure Fee (≤6 months)	AED 100	Waived
Cheque Book (per leaf)	AED 1	AED 1
PDC – Cheque Book Fee (≤6 months)	AED 100	Waived
PDC – Extension of Due Date	AED 10	AED 10
PDC – Custodial Service per Cheque	AED 20	Waived
Debit Card Issuance & Replacement	Free	Free
Debit Card Replacement Fee	AED 25	AED 25
International Transaction Spread	2.5%	2.5%

Transactional Fees

Service	Lite	Prime
Local Funds Transfer (online)	AED 3 per txn 10 free/month	Waived
Local Funds Transfer (branch)	AED 30	AED 20
Cross-Border Transfer (online, FCY)	AED 35	Waived
Cross-Border Transfer (branch, FCY)	AED 70	AED 60
Cash Withdrawal (Mashreq ATM UAE)	Free	Free
Cash Withdrawal (Other UAE ATM)	AED 3	AED 3
Cash Withdrawal (GCC ATM)	AED 6	AED 6
Cash Withdrawal (International ATM)	AED 20	AED 20
Balance Enquiry (Other UAE ATM)	AED 1	AED 1
ATM Declined Txns (UAE)	9 free/month then AED 2/txn	11 free/month then AED 2/txn
ATM Declined Txns (GCC & Intl)	One free/month then AED 20/txn	One free/month then AED 50/txn

Remittance & Clearing

Service	Lite	Prime
Inward Remittance to NeoBiz A/C	Free	Free
Inward Remittance to Other Bank	AED 100	AED 100
Outward Remittance TT Fee (branch)	AED 60	AED 60
Outward Remittance TT Fee (online)	AED 60	AED 60
Foreign Currency Cheque Purchase	AED 100	AED 100
Inter-city Clearing (IBCI)	AED 10	AED 10
Special Clearing	AED 205	AED 205
Collection within UAE	AED 50	AED 50
Collection outside UAE	AED 100	AED 100
Cheque Returned Unpaid (inward)	AED 350	AED 350
Cheque Returned Unpaid (outward)	AED 50	AED 50

Miscellaneous & Trade Services

Standing Orders Setup: AED 100 (Lite), AED 50 (Prime), Waived (Trader Pro)
Standing Orders Amendments: AED 50 (Lite), AED 25 (Prime), Waived (Trader Pro)
Stop Payment (Cheque): AED 100 per cheque
Account Statements (Duplicate): AED 100 per statement
Bank Certificates/Letters: AED 100 each
Audit Confirmation Reports: AED 300 each

Trade Finance (NeoBiz)

Same-Currency FCY Cash Withdrawal/Deposit:00% (≤ AED 1 M), 1.50% (> AED 1 M)
Import LCs Issuance: 1/6% pm (min AED 500)
Export LC Advising: AED 150
Documentary Collection Handling:125% (min AED 250)

Summary of NeoBiz Tier Differences

Lite: Zero balance, AED 200 monthly fee, pay-as-you-go transactions.
Prime: AED 50 k balance waiver, fall below fees AED 200, free transfers and basic transactions.

Choose Lite for startups seeking flexibility, Prime for growth-stage SMEs, or Trader Pro for large enterprises requiring cost efficiencies.

Documents Required

Document	Sole Establishment	LLC / Company
Valid Trade License	✓	✓
Memorandum of Association (MOA) & Amendments	NA	✓
Board Resolution (if MOA lacks banking powers)	NA	✓
Emirates ID of resident shareholders/signatories	✓	✓
Passport copies of shareholders & signatories	✓	✓
Address proof (Ejari/Tenancy Agreement)	✓	✓
Latest 3-month bank statements (company or UBO/individual)	✓	✓
Individual profiles/CVs of signatories	✓	✓
Corporate shareholder documents (certificates, MOA, POA)	N/A for single layer; see layered entity rules	N/A for single layer; see layered entity rules

Layered Entities: All constitutional documents up to ultimate beneficial owner (UBO) attested by MOFA where required.
Freelancers: Provide freelancer permit in lieu of company license.
Under-Formation Companies: May open accounts on case-by-case basis with under-formation documents.

Additional Info

Summary of Key Differences

Traditional vs. Digital: Traditional accounts require higher average balances but offer tiered benefits; NeoBiz targets SMEs and startups with zero-balance or low-balance options and fully digital onboarding.
Fee Waivers: Business Platinum and NeoBiz Prime waive most monthly and transactional fees.
Eligibility Flexibility: Both traditional and NeoBiz accommodate freelancers, offshore entities, and under-formation companies under specific conditions.