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A Business Account is a uniquely designed banking account that caters to your business needs. Not only does a business account allow you to receive payment through various modes, but also gives you the freedom of making multiple transactions. This account is exclusively available for business companies only.
ADCB E-Business Account is a business banking account that provides you with a hassle-free banking experience so that you can shift your entire focus on banking instead of organizing your business account. Along with numerous benefits, this account also lets you manage your daily transactions so that no transaction escapes your attention.
Every year, as an ADCB E-Business Account holder, you will receive a free chequebook. This will facilitate your hefty transactions. Since the chequebook is free, you will save some extra money as well.
As a business owner, it is only natural that your business may take you to foreign countries. Carrying cash while travelling can be a headache since you have to visit the foreign exchange and complete other formalities. To relieve you from such a hectic job, the Abu Dhabi Commercial Bank E-Business Account empowers you with an International Debit Card. You can use this international debit card to directly withdraw money from ATM centres in a foreign country. Besides, you also receive attractive offers and special discounts on every transaction. You can also use this card for shopping abroad.
Auto sweep is a special facility provided on your ADCB E-Business Account. According to this facility, whenever your bank balance crosses a particular limit, the additional amount in your account is converted into a fixed deposit. This fixed deposit is temporary that keeps your money liquid and allows you to earn profits at the same time.
ADCB understands that your business may at times require you to borrow the entire amount deposited in your banking account. Therefore, the minimum balance requirement on the ADCB E-Business Account is zero so that you have complete liberty to withdraw money without worrying about the minimum balance. Removing the minimum balance requirement eliminates the need to pay for the penalty which increases your savings.
To delimit your transactions, the ADCB E-Business Account provides you with unlimited free teller transactions which allow you to make as many deposits and withdrawals in a month as you need. This reduces your expenditure on availing of banking facilities.
With ADCB E-Business Account you also receive free domestic remittance which means that you can pay for your non-commercial transactions as well without paying any additional charges.
Every month, ADCB will send a free monthly cycle e-statement on your registered mail ID to ensure that you stay at the top of your expenses.
ADCB E-Business Account provides you with online banking and mobile banking services which let you access your account irrespective of the time. This allows you to make transactions, check your account balance, and avail other banking services outside the working hours and days.
Using your ADCB E-Business Account, you can pay bills for:
|Yearly Service Fee||AED 1800|
|Issued cheque returned||AED 241.50|
|Account Closure||AED 105|
|Additional Cheque Book||AED 52.50|
|Favouring Other Banks||AED 52.50|
|The penalty fee for insufficient funds to effect payments to other banks||AED 105|
|Statement outside the current cycle||AED 26.25 Per month|
|Not providing a valid trade license within 60 days after the expiry date||AED 250|
|Stop Payment||AED 105|
|Utility Bill Payment through teller counter||AED 52.50|
Please note that all the aforementioned charges are inclusive of 5% VAT as per the norms in the UAE.
ADCB E-Business account accepts only AED currency for deposits and withdrawals. In case you need to use other currencies, please refer to other business accounts offered by the bank.
ADCB E-Business Account is an exclusive account that is offered only to Emiratis and GCC Nationals aged 21 or above.
The documents required for opening an ADCB E-Business Account are:
Please note that this list of documents is not exhaustive and the bank can demand other or more documents to validate and open your business account.
To open an ADCB E-Business Account offline:
You can also open your ADCB E-Business Account in these simple steps:
ADCB also provides the facility of opening the business account by calling at their 24-hour customer care helpline: 600 502030
You can also apply to open your business account through text message. Send ‘EB’ to 2626.
Policybazaar.ae also provides the facility of opening this account. To open an account:
The bank will verify your documents and open your account in the next few working days.
Q1: What are the charges for remittance in foreign currency?
Ans: For remittance in foreign currency you need to AED 10.50
Q2: Is there any charge on issuing or stopping payment on Drafts/Banker’s cheque?
Ans: Yes, you will require to pay AED 52.50 to use this service.
Q3: Can an individual open this account?
Ans: ADCB is a business account specially designed for companies. Individuals are not allowed to open this bank account. If you want to open an account in ADCB you can check other types of bank accounts offered by the bank.
Q4: Is there any penalty if my trading license is not updated?
Ans: In case your trading license is not updated in the bank’s records within 30 days, a monthly fee of AED 150 will be levied on your bank account.