CBD Business Account

CBD (Commercial Bank of Dubai) offers various types of business accounts that are especially designed for SME clients. CBD Business Accounts are not only value-packed but also crafted to fulfill its customer’s everyday banking requirement and provide a smooth banking experience.

The bank caters two business bank accounts i.e. My Business & My Business Plus. In addition to this, the bank offers Business Savings & Deposit Accounts that help business owners to segregate their business funds from daily business finances and attain high returns on their balance.

CBD Business Account - Features & Benefits

Following are the main features & benefits of the business accounts offered by the CBD:

My Business Packages

My Business: This CBD Business Account is designed for those business owners who have less business transaction frequency & who don’t need the services of a ‘business banking relationship manager’. Basically, this business account is ideal for those clients who prefer to maintain a low balance in their bank account.

This CBD Business Account is designed for those business owners who have less business transaction frequency & who don’t need the services of a ‘business banking relationship manager’. Basically, this business account is ideal for those clients who prefer to maintain a low balance in their bank account.

Main features & Benefits of this Bank Account:

  • Feature-rich: This business bank account is feature-rich.
  • No Maintenance Fee: There is no maintenance fee is charged on this bank account if the account holder maintains a minimum monthly average balance of 25,000 AED.
  • Choice of Currency: This CBD Business Account is available in 6 major currencies that include AED, GBP, USD, Euro, JPY, and CNY.
  • Complimentary Services: The account holder can avail free business debit card as well as a first cheque book for free of cost with this bank account.
  • Client Relationship Management: The account holder can avail ‘client relationship management (branch-based)’.
  • Preferential Access: The account holder can avail access to an array of ‘business banking zones’ as well as ‘fast business banking tellers’ on a priority basis.
  • Banking Service: The account holder can avail complimentary mobile banking, phone banking, and SMS banking.
  • Attractive Rates: The account holder can avail competitive rates on remittances, money transfers, & foreign currency exchange.
  • Preferential Rates: The account holder of this CBD Business Account can get preferential rates on various business banking & insurance services & products.
  • Extra Services: The account holder can avail the service of ‘WPS payroll management’.

My Business Plus: This CBD Business Account is ideal for those business owners who have the ‘transactional banking service (branch-based’ requirements and for those customers who need the service of a ‘dedicated business banking relationship manager’.

Main features & Benefits of this Bank Account:

  • Feature-rich: This CBD premium business account is feature-rich.
  • Banking Business Relationship Manager: Dedicated business banking relationship manager to offer account management & tailor CBD banking services in order to fulfill the account holder’s particular business needs.
  • No Maintenance Fee: There is no maintenance fee is charged on this bank account if the account holder maintains a minimum monthly average balance of AED 150,000.
  • Choice of Currency: This CBD Business Account is available in 6 major currencies that include AED, GBP, USD, Euro, JPY, and CNY.
  • Complimentary Services: The account holder can avail free cheque books as well as free ‘My Business Debit Card’ with a higher cash withdrawal limits.
  • Online Banking Service: The account holder can enjoy complimentary online banking enquiry service, with the option to upgrade to a comprehensive interactive online banking service.
  • Free e-Statements: The account holder can avail free e-statements.
  • Banking Service: The account holder can avail complimentary mobile banking and SMS banking.
  • Preferred Rates: The account holder can avail competitive rates on remittances, money transfers, & foreign currency exchange.
  • Preferential Access: The account holder can avail access to service centers for business banking, various business banking zones, and fast business banking tellers in the main branches of CBD & priority queuing in all other bank branches.
  • Event Invitation: The account holder can also avail invitations to business networking events as well as premier events.
  • Preferential Rates: The account holder of this CBD Business Account can get preferential rates on various business banking & insurance services & products.
  • Extra Services: The account holder can avail WPS payroll management service.

My Business Savings Account

  • Feature-rich: This is a feature-rich business account.
  • No Maintenance Fee: There is no maintenance fee is charged on this bank account if the account holder maintains a minimum monthly average balance of 25,000 AED.
  • Account Availability: This business account is available in variations of Conventional & Islamic principles with an attractive profit or interest rates.
  • Interest/Profit Rates: Profit or interest rates are paid out on a semiannual basis depending on the minimum monthly average balance during the last six months.
  • Choice of Currency: This CBD Business Account is available in 6 major currencies that include AED, GBP, USD, Euro, JPY, and CNY.
  • Client Relationship Management: The account holder can avail ‘client relationship management (i.e. branch-based)’.
  • Preferential Access: The account holder can avail access to an array of ‘business banking zones’ as well as ‘fast business banking tellers’ on a priority basis.
  • Online Banking Service: The account holder can enjoy complimentary online banking enquiry service, with the option to upgrade to a comprehensive interactive online banking service.
  • Banking Service: The account holder can avail complimentary mobile banking, phone banking and SMS banking.
  • Preferred Rates: The account holder can avail competitive rates on remittances, money transfers, & foreign currency exchange.
  • Preferential Rates: The account holder of this CBD Business Account can get preferential rates on various business banking & insurance services & products.
  • Extra Services: The account holder can avail WPS payroll management service.

Fixed Term Deposit Account

  • Flexible Tenures: This bank account offers flexible tenures.
  • Minimum Deposit: The account holder is required to do a minimum deposit of AED 10,000 (or equivalent amount in all other major currencies).
  • Choice of Currency: This CBD Business Account is available in all major currencies that include AED, GBP, USD, Euro, JPY, and CNY.
  • Attractive Interest rates: The account holder can earn an attractive interest rate on their fixed deposit amounts.

Eligibility Criteria Required to Open CBD Business Account in UAE

CBD Business Accounts Eligibility Criteria
My Business NA
My Business Plus NA
My Business Savings Account Annual Sales Turnover Required: AED 40 Million (applicable for all type of companies).
Fixed Term Deposit Account NA

Documents Required to Open CBD Business Account in UAE

Following are the required documents to open business accounts with CBD:

Category Required Documents
Id Proof
  • National Id or Passport (valid) with UAE
  • Resident Visa & Emirates ID
   Other Documents
  • Address Proof
  • Valid Legal & Constitutive Documents (i.e. Trade License, Memorandum of Association, Certificate of Commercial Registration, Free Zone of Incorporation, Partnership Agreement).
  • Bank Reference Letter & Company Profile
  • Board Resolution or Power of Attorney 
  • Beneficial Owner’s Details
  • Audited Financial Statements are not required.

How to Open a CBD Business Account in the UAE?

The applicant can open a CBD Business Account through the following ways:

  • Though online banking
  • By visiting the nearest branch of CBD
  • Though phone banking

How to Close CBD Business Account in the UAE?

Closing a CBD Business Account is very simple and it can be done online or by visiting the nearest CBD branch.

CBD Business Account - FAQs

Q.1.  Do I need to pay a maintenance fee for any of the CBD Business Accounts?

Yes, you need to pay a monthly service charge for not maintaining average balance in the bank account. But it may vary from account to account. Following are the non-maintenance charges levied by the CBD Business Accounts:

My Business AED 250
My Business Plus AED 350
My Business Savings Account AED 250

 

Q.2. Does CBD charge on using ATM machines?

No, CBD will not charge you for withdrawing cash from any of the ATM machines across the UAE.

Q.3. Does CBD report my credit history to the business credit bureau?

Yes, CBD reports all of the credit details to the business credit bureaus.

Q.4. What are the banking services available with the CBD Business Account?

CBD online banking, phone banking, and SMS banking.

Q.5. Will I get E-statement facility in any of the CBD business Account?

Yes, the account holder of My Business Plus can avail free e-statements.

Q.6. What is the minimum & maximum average balance required in CBD?

The minimum average balance required is AED 25000 while the maximum average is AED 150,000.

Q.7. How does e-banking work in CBD?

E-banking basically enables you to carry out banking transactions round the clock in CBD.

Q.8. Is the CBD Business Account available in AED only?

No, all the business accounts offered by CBD are available in AED as well as other major currencies that include GBP, USD, Euro, JPY, and CNY.