Al Masraf Bank Current Account

The Al Masraf current account comes with a wide range of benefits for customers. From zero balance maintenance to free services, it has it all. On top of that, the bank has minimum eligibility requirements.

Let’s learn about the Al Masraf current account in detail, including its application process, documents required, fees/ charges, etc!

Al Masraf Current Account- Key Features and Benefits

The following are the major features of an Al Masraf current account in the UAE: 

Feature Type Description
Account Maintenance
  • No minimum balance to maintain the current account
Easy Account Opening
  • Conveniently open an account digitally
Free Banking Services
  • Enjoy free international fund transfers
  • Receive free SMS alerts after each transaction
  • Experience seamless banking with all fees waived
Cashback
  • Receive 1% cashback on purchases with the bank’s debit card

Eligibility Criteria for Al Masraf Bank Current Account in UAE

You need to fulfil the minimum eligibility criteria for opening an Al Masraf current account in the UAE:

Eligibility Type Requirements
Age Minimum- 21 Years
Nationality UAE Nationals and Residents

What Documents Do I Need to Open Bank Account at Al Masraf?

All you need is your Emirates ID to open an Al Masraf bank account in the UAE!

How to Open an Al Masraf Bank Account in UAE?

Simply head out to the official website of Al Masraf and apply instantly! Alternatively, you can use the bank’s mobile app to open your bank account.

Note: To explore other top current accounts in the UAE,

Current Account in UAE

Al Masraf Current Account- Fees & Charges

The following are the major fees and charges associated with the Al Masraf current account in the UAE:

Types of Fee Charges
Account Closure Fee Free
Regular Bank Statement Free
Liability Letter Issued to Financial Institutions Free
No Liability Certificate Free
Cheque Book Request Free
Additional Statement Free
Issuance and Renewal of Debit Card Free

Frequently Asked Questions

Are there any charges associated with the Al Masraf Bank current account?

Al Masraf Bank offers free banking with its current account. This includes no charges related to minimum balance, local transfers, account closing, regular and additional bank statements. Fees are also waived for teller services (other than ATM and Online) and utility bill payments.

What rewards does the Al Masraf Bank Debit Card offer?

With the Al Masraf Bank Debit Card, you can earn 1% cashback on all your purchases. There are no limits or caps on your cashback earnings.

Does Al Masraf Bank offer international fund transfers?

Yes, Al Masraf Bank provides free international remittances. You can send money to your loved ones or conduct business transactions abroad without worrying about additional fees.

Does Al Masraf Bank provide SMS alerts for account transactions?

Yes, Al Masraf Bank provides free SMS alerts. You will receive real-time notifications for all your account transactions.

How can I apply for an Al Masraf Bank current account?

You can apply for an Al Masraf Bank current account through Policybazaar.ae. The website is easy to complete all the processes - right from filling out the lead form to selecting the desired account and proceeding with the application process. If you require expert advice, Policybazaar.ae also offers the assistance of financial advisors.

How much does Al Masraf charge to issue an additional chequebook?

The bank does not charge any amount for the issuance of an additional chequebook.  

What privileges do I get on the debit card issued upon opening a current account?

You receive 1% cashback on the purchases made through the debit card.

I want to close my current account. What is the applicable account closure fee?

There is no fee charged for closing an Al Masraf current account.

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