FAB One Account

With its digital solutions and vast product portfolio, First Abu Dhabi Bank (FAB) has established itself as one of the leading banks in the UAE. As one of the prominent banks in the nation, FAB offers a wide range of accounts and other financial products to its users along with various perks related to its ATMs, convenience of the mobile app, and more.

FAB offers a range of banking account options to suit the needs of various customer segments, with excellent options available from savings accounts to current accounts. The One Account offered by FAB is one such example, with this account being loaded with exclusive privileges like zero minimum balance requirement, a range of lifestyle and shopping benefits, free purchase protection for debit cards, and so forth. 

To find out what the FAB One Account is as well as its fees, features, benefits, application modes, and more, keep reading below.

Top Reasons to Choose FAB One Account

Being one of the popular accounts of this bank, the FAB One Account offers various offers and privileges to users. So if you are planning to open a current account in the UAE, you can opt for the FAB One Account due to the following reasons – 

(1) Rewards and Offers on Debit Card

  • Up to 4 cash withdrawals for free from any ATM in the UAE
  • FAB Platinum debit card has a one-time password (OTP) plug-in for secure online transactions
  • You can get purchase protection on all debit card transactions for a maximum of 90 days from the date of purchase
  • Complimentary airport lounge access across the Middle East without prior booking
  • Insurance coverage for your debit card of up to USD 1,000 per year

(2) FAB Rewards on Your FAB One Account Balance and Debit Card Spending

  • Get 40 FAB rewards for every AED 1,000 spent internationally or domestically
  • Account holders can earn 6 FAB rewards for every AED 1,000 of average monthly account balance – a maximum of 80,000 FAB rewards can be earned per month (provided you maintain a balance of at least AED 10,000)
  • Option to redeem FAB rewards for shopping, utility bills payment, dining out, or booking your next holiday
  • Exclusive lifestyle rewards

(3) You can open the FAB One Account instantaneously through your Emirates ID card

(4) Open, manage, and operate the account through the FAB mobile app for free

(5) The daily ATM cash withdrawal limit is AED 20,000, with the maximum retail purchasing limit being AED 40,000

Features & Benefits of FAB One Account

Discussed below are the salient features and benefits of FAB One Account – 

  • Minimum Balance Requirement: You can operate the FAB One Account without worrying about maintaining a minimum balance as it is a zero-balance account
  • No Minimum Balance Charges: Being a zero balance account, no fee would be charged for any breach of minimum balance limits
  • Free Debit Card: A FAB Platinum debit card is provided for FAB One Account for free 
  • Complimentary Airport Lounge Access: FAB One Platinum debit card provides free airport lounge access at select airports without requiring any booking beforehand
  • Rewards and Offers: You can get special offers and discounts from select premium retailers in the UAE with your FAB One Account
  • Free Chequebook: When you open a FAB One Account, you can get a free chequebook
  • Interest Rate on Debit Balance: The interest on your account debit balance is calculated at 19% per annum (minimum AED 175 per month).
  • Debit Card Limit: FAB One Platinum debit card allows daily cash withdrawal up to the limit of AED 20,000 and daily retail purchase under the limit of AED 40,000
  • Cash Withdrawals: FAB One Account provides free cash withdrawals from FAB ATMs and up to four free cash withdrawals from non-FAB ATMs in the UAE

Eligibility Criteria to Open a FAB One Account

To open a FAB One Account, you must meet the following eligibility criteria:

  • Nationality: You must be a UAE to apply for the FAB One Account
  • Employment Type:  Both salaried and non-salaried employees can apply for this account
  • Minimum Salary Requirement: Salaried customers should have a monthly salary of at least AED 10,000 to apply for the FAB One Account. Non-salaried or self-employed applicants, on the other hand, would need to have an initial deposit of at least AED 10,000.

Documents Required to Open FAB One Account

Applicants would be required to submit the following documents to open a FAB One Account – 

  • Filled up and signed bank account opening form
  • A valid copy of your passport/resident visa/Emirates ID – the original documents must also be presented to the bank
  • Valid income proof

Note:  The bank may request additional documents as per the applicant and their profile 

 

Top Reasons to Choose FAB One Account

Being one of the popular accounts of this bank, the FAB One Account offers various offers and privileges to users. So if you are planning to open a current account in the UAE, you can opt for the FAB One Account due to the following reasons – 

(1) Rewards and Offers on Debit Card

  • Up to 4 cash withdrawals for free from any ATM in the UAE
  • FAB Platinum debit card has a one-time password (OTP) plug-in for secure online transactions
  • You can get purchase protection on all debit card transactions for a maximum of 90 days from the date of purchase
  • Complimentary airport lounge access across the Middle East without prior booking
  • Insurance coverage for your debit card of up to USD 1,000 per year

(2) FAB Rewards on Your FAB One Account Balance and Debit Card Spending

  • Get 40 FAB rewards for every AED 1,000 spent internationally or domestically
  • Account holders can earn 6 FAB rewards for every AED 1,000 of average monthly account balance – a maximum of 80,000 FAB rewards can be earned per month (provided you maintain a balance of at least AED 10,000)
  • Option to redeem FAB rewards for shopping, utility bills payment, dining out, or booking your next holiday
  • Exclusive lifestyle rewards

(3) You can open the FAB One Account instantaneously through your Emirates ID card

(4) Open, manage, and operate the account through the FAB mobile app for free

(5) The daily ATM cash withdrawal limit is AED 20,000, with the maximum retail purchasing limit being AED 40,000

Features & Benefits of FAB One Account

Discussed below are the salient features and benefits of FAB One Account – 

  • Minimum Balance Requirement: You can operate the FAB One Account without worrying about maintaining a minimum balance as it is a zero-balance account
  • No Minimum Balance Charges: Being a zero balance account, no fee would be charged for any breach of minimum balance limits
  • Free Debit Card: A FAB Platinum debit card is provided for FAB One Account for free 
  • Complimentary Airport Lounge Access: FAB One Platinum debit card provides free airport lounge access at select airports without requiring any booking beforehand
  • Rewards and Offers: You can get special offers and discounts from select premium retailers in the UAE with your FAB One Account
  • Free Chequebook: When you open a FAB One Account, you can get a free chequebook
  • Interest Rate on Debit Balance: The interest on your account debit balance is calculated at 19% per annum (minimum AED 175 per month).
  • Debit Card Limit: FAB One Platinum debit card allows daily cash withdrawal up to the limit of AED 20,000 and daily retail purchase under the limit of AED 40,000
  • Cash Withdrawals: FAB One Account provides free cash withdrawals from FAB ATMs and up to four free cash withdrawals from non-FAB ATMs in the UAE

Eligibility Criteria to Open a FAB One Account

To open a FAB One Account, you must meet the following eligibility criteria:

  • Nationality: You must be a UAE to apply for the FAB One Account
  • Employment Type:  Both salaried and non-salaried employees can apply for this account
  • Minimum Salary Requirement: Salaried customers should have a monthly salary of at least AED 10,000 to apply for the FAB One Account. Non-salaried or self-employed applicants, on the other hand, would need to have an initial deposit of at least AED 10,000.

Documents Required to Open FAB One Account

Applicants would be required to submit the following documents to open a FAB One Account – 

  • Filled up and signed bank account opening form
  • A valid copy of your passport/resident visa/Emirates ID – the original documents must also be presented to the bank
  • Valid income proof

Note:  The bank may request additional documents as per the applicant and their profile 

Fees & Charges on FAB One Account

Tabled below are the general fees and charges related to the FAB One Account and associated services – 

Account-Related Fees and Charges  Amount/Fees
Account opening fees Nil
Minimum Balance Nil
Relationship fee Free
Utility payment (ATM & online) Free
Account closure  AED 105
No liability certificate AED 63
Account balance letter AED 52.50
Set up of standing instructions  AED 52.50
Penalty for insufficient funds for standing orders AED 26.25
Liability letter issued to government departments/embassies AED 63
Liability letter issued to financial institutions AED 63
Teller services (six free per month) AED 10 per transaction + 5% VAT
Bulk cash deposit and withdraw at the teller counter Free
Inward transfers within UAE AED 1.05
Inward foreign currency transfers AED 25 or equivalent + 5% VAT
Foreign currency transfers through online or mobile banking SWIFT transactions incur additional charges by correspondent banks
Telegraphic transfer in AED through branch AED 5.25
Telegraphic transfers in Euro, USD, and AUD through a branch AED 105
All branch telegraphic transfers except AED, Euro, USD, AUD AED 84
  Debit Card Fees & Charges
Issuing primary card Free
Replacing stolen or lost debit card AED 26.25
Replacing the secret PIN code Free
Copy of sales receipt AED 26.25
Fee using FAB ATM Free
International transaction processing fee 2.1% of the transaction amount + charges applicable for the scheme
For using a non-FAB ATM Non-FAB ATM in the UAE – AED 2.10 (first two cash withdrawals per month free) Non-FAB ATM in the GCC – AED 6.30 Non-FAB ATM internationally – AED 21
Balance enquiry transactions using ATM Using FAB ATM – Free Non-FAB ATM in the UAE – AED 1.05 Non-FAB ATM in the GCC – AED 3.15
  Cheque Fees & Charges
Cheque book (first chequebook free) Additional chequebook of 10 leaves – AED 21  For chequebook of 25 leaves – AED 26.25
Manager cheque/demand draft AED 31.50
Cancellation of manager’s cheque AED 52.50
Cheques returned drawn on the account (per cheque) AED 52.50
Returned cheque deposited in your account Free
Stop payment (per cheque) AED 52.50
Collection of post-dated cheques AED 21
Post-dated cheques withdrawn before the due date AED 26.25
Special clearance of non-FAB cheque AED 205
Photocopy of cheques Cheques dated up to one year –  AED 10.50 Cheques dated above one year –  AED 21

How to Apply for the FAB One Account?

Applicants can have a FAB One Account opened for themselves by using the FAB mobile app, visiting the nearest branch, submitting an online application, or via phone banking. Discussed below are the steps to be performed in each case – 

  • FAB Mobile App: The most straightforward way of opening a FAB One Account at your fingertips is through the FAB mobile app. The applicant here is simply required to install the FAB mobile app via the Google Play Store, Apple Store, or AppGallery, or scan the QR code from the bank’s official website to acquire the download link. 

Once the FAB mobile app is downloaded, enter your personal and contact details to register. As an alternative, you can also create your account through your Emirates ID. After registration, select the FAB One Account and apply for it – the account will be instantly opened after submission of the form. 

  • Online Application: You can also open the FAB One Account through the online mode, which is quick, easy, and reliable. All you need to do here is visit the bank's official website, head to the ‘One Account’ page, and fill out the lead form. 

The lead form will require the applicant's full name, email address, contact number, nationality, monthly income, and city of residence. Once you have successfully submitted your application, a bank representative will contact you within 24 hours and proceed with your application. 

  • Offline Mode: If you prefer the traditional way of application, you can visit a FAB branch near you and apply for the account. You can then connect with a bank executive to obtain the application form and fill it up. Make sure that you carry all the required documents as you would need to submit them in person here. The Bank will then verify the credibility of your information and open your account once everything is approved.
  • Phone Banking: Applicants can also contact the bank by dialling the official contact number of the bank to open a FAB One Account.

Find below the most frequently asked questions regarding the FAB One Account in the UAE – 

FAQs

How can you apply for the FAB One Account?

You can apply for the FAB One Account via the FAB mobile app, online banking, phone banking, or visiting a bank branch. 

How is the interest rate on the FAB One Account's debit balance calculated?

The interest rate on the debit balance of FAB One Account can be calculated using the given formula – 

Interest rate on debt balance = Daily balance x 19 x number of days / 360 (19 due to the debit card interest rate)

What is the fee for using FAB platinum debit cards at non-FAB ATMs?

The fee for using nonFAB ATMs is as follows:

  • Non-FAB ATMs in the UAE – AED 2.10
  • Non-FAB ATMs in the GCC – AED 6.30
  • Non-FAB ATMs internationally – AED 21
Is FAB One Account a multi-currency account?

No, FAB One Account is a single currency account and is available only in the AED currency.

How much do I have to pay for the additional chequebooks of the FAB One Account?

Account holders get the first chequebook free at the time of account opening. Afterwards, they would be required to pay AED 21 for a chequebook of 10 leaves and AED 26.25 for a 25-leaves chequebook.

What amount of fees do I need to pay for the closure of the FAB One Account?

You need to pay AED 105 to close your FAB One Account.

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