Emirates Islamic Bank Expo Dubai Business Banking Account

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Emirates Islamic Bank is one of the leading banks in the United Arab Emirates. It offers various packages to the businesses in UAE for a seamless banking experience. Emirates Islamic bank is the official partner of the Dubai Expo. Thus, its EIB Expo Dubai business account provides a perfect package for your business needs. It provides preferential Business Banking packages to meet the requirement of small and medium-sized enterprises (SMEs).

Benefits of EIB Expo 2020 Business banking account

1. No Charges for the first twelve months

Sometimes charges on banking services can be overwhelming. They are mostly in the form of charges on transactions, monthly/quarterly reports, etc. which can be a bit taxing for flourishing businesses. But, if you are thinking of opening an EIB Expo 2020 Dubai Business banking account, you don’t have to pay any fee for the first 12 months.

2. Low Amount Requirement for Monthly Balance

You need to maintain a minimum average balance of AED 10,000.

3. Buyer Friendly Services

The relationship manager is your contact point with the bank; they entertain all your queries. Be it about choosing the best and most profitable plans for you and your business or helping you in your transactions if you face any issues, the relationship manager makes banking simpler and easier for you. 

4. Bank Transactions at low price

EIB expo Dubai business bank account offers their customers better prices and rates for their business account. Like minimal charges and no charges on the transaction, they also offer a high interest rate on deposits so that you can make more productive use of your money.

5. Preferential pricing for foreign exchange and Trade support

Since foreign exchange rates are fluctuating, they provide you with safe and risk-free transactions at a very low price.

6. Low cost and hassle-free Telegraphic Transfer

A telegraphic transfer (TT) is a method of transferring funds electronically. It’s used for the overseas transactions as it is a faster way of transferring money. The chance of getting affected by exchange rate fluctuations is very low in this type of transfer. So, it is risk-free and a safer mode of transaction meant for overseas. With EIB, you get this facility for nominal charges.

7. Free chequebooks 

You don’t have to pay any extra charge to receive your chequebooks.

Why Should You Choose EIB Expo 2020 Dubai Business Banking Account?

1. Mandatory Registration with Expo 2020 Dubai Online Marketplace

Emirates Islamic Expo 2020 Dubai Business banking account package is available exclusively to SMEs registered with the Expo 2020 Dubai Online Marketplace.

2. Monthly Average Charges

No minimum average monthly fee is charged for the first 12 months.

3. Minimum Balance Requirements

Minimum Balance of AED 10,000 is required after the first 12 months. It is one of the lowest required minimum balance requirements for bank accounts in the UAE after the first year.

4. Customer Support

The bank’s dedicated customer service team offers you comprehensive banking services.

5. Industry Expertise

They have a skilled team of experts handling your bank-related trade and financial requirements.

6. Low transaction cost

Financial transactions, foreign exchange transactions, and fund transfers at a preferred rate.

7. Access to “Smart Business” Account

You get to sign up for EIB’s Smart Business account, the ultimate e-banking solution for easy online access to your account anytime, anywhere.

8. Card Facilities

Emirates Islamic Business Debit Card is available for banking services.

9. Customer Service Call centre

The bank offers a dedicated Business Banking Call Centre to assist you with all of your banking needs

N-Genius and Go-online solutions with Dubai Expo business solutions can be availed at favourable terms. You can choose from the following packages provided to get your POS and online payment requirement.

  1. POS Solutions

“N-Genius” the latest payment platform, which is based on a POS solution, is Expo 2020’s brand new payment application that can change the way you accept payments. This application can be useful in setting up your business.

Attributes:

  • It has a very user-friendly design that is very modern, easy to use, and consists of a touch screen.
  • Cost is reduced because of digital customer receipts.
  • It has a very compact design because of which the user can freely move and offers internet connectivity modes, including a fixed-line and 3G/4G network.
  • The latest payment card industry software 5.x and E2E encryption make your transactions secure.
  • N-Genius software is supported by android.
  • You can now get a free subscription to N-Care and enjoy benefits like free device maintenance and installation services.

Special Rates

FEE DISCOUNT PROCESSING FEE TRANSACTION FEE
AED 1999 20% 2.25% 0.4 PER TRANSACTION

2. Go-Online

Having issues in making your website? Want a customised website that allows secure payment options? Go-online got it all covered! Basically, you can create your website for your customers, sell products, and also offer your customers secure payment options.

Attributes:

  • You can build your website by using the design templates given on the website.
  • It contains very secure payment and checkout services. 
  • Manage all the activities like payment, shipment, discounts, and many more on one platform.
  • Customers can easily report the bug.
  • To improve selling strategies, you can link it to Google Analytics that will give you sales insights from sales data.

Special Rates

FEE PROCESSING FEE TRANSACTION FEE
AED 2999 2.25% 0.75% Per Transaction

The annual subscription fee is AED 2999. Also, the merchant processing fee is as low as 2.5% of the total amount per transaction, and the transaction fee is as low as AED 0.75 per transaction. And the best part is that refund and chargeback capability are included.

3. POS + E-commerce Gateway

Using POS solution “N-Genius” and by setting up your existing business website with E-commerce Gateway, you can fulfil your payment processing needs of brick & mortar store and get your online store live. As you already know about the “N-Genius” payment platform, let us now discuss E-commerce Gateway.

E-commerce Gateway: You can integrate your existing business website with an E-commerce gateway to make your online store live. Also, the E-commerce gateway allows easy checkout and secure refund options.

Special Rates

FEE DISCOUNT PROCESSING  FEE TRANSACTION FEE
AED 1899 27% 2.25% 0.4%
  • E-commerce Gateway

On the payment of AED 1099, you can avail of a discount of 27% on the device fee. Also, the merchant processing fee is as low as 2.5% of the total amount per transaction, and the transaction fee is as low as AED 0.75 per transaction. And the best part is that refund and chargeback capability are included.

Eligibility Criteria

  1. SMEs registered on the Expo Dubai Online Marketplace (OMP) are eligible for this package.
  2. An applicant must have a valid email confirmation of their registration with OMP before opening an account.
  3. AED 10,000 must be maintained as a minimum average monthly relationship balance from the thirteenth month onwards.
  4. Business Startups based in the UAE that are registered with respectable accelerators or incubators are eligible for this package.

Note:

  • If your average account balance falls below AED 10,000 from the thirteenth month onwards, you will be charged a monthly Relationship Management Fee (RMF) of AED 300.
  • Customers are eligible for our Relationship Manager tagging service in the Retail SME Segment if they maintain a monthly average balance of AED 100,000 or more.

FAQs

Q1: Can I convert my existing package to EIB’s Business Dubai Expo account package?

Ans: Yes, any of your existing accounts can be converted to the Dubai Expo business account package. You can even hold both the accounts simultaneously, simply by applying for another account. 

Q2: How can I convert my existing account to EIB Dubai Expo business account package?

Ans: Your current account package can be easily converted in a single visit to the nearest branch.

Q3: What are the documents required to convert my account to Dubai Expo business account?

Ans: Following are the documents required to convert your account to Dubai Expo business account:- 

• Trade license

• Memorandum of assosiation (MOA) 

• Identity documents of all the partners

• Stamp of the company

Q4: How can I make changes to my current Dubai Expo business package?

Ans: You may contact on Emirates Islamic Bank call centre on 04-3160065 or you can visit any of your nearest branches or business banking centres.