FAB Business Accounts

First Abu Dhabi Bank is one of the best known and largest banking solutions providers in the world. The bank offers a wide range of tailor-made banking products and services, including bank accounts, loans, credit cards, mortgages and various investment options for individual and corporate customers.

FAB offers an extensive range of business accounts with unique benefits and features. The best part about these business accounts is that they can be accessed from anywhere using online and mobile banking. Let us go ahead and know more about FAB Business Accounts.

Types and Benefits of FAB Business Accounts

First Abu Dhabi Bank offers six types of business accounts for its customers. Here are the features and benefits of all the FAB business accounts in detail.

Business Basic Account: FAB Business Basic Account helps account holders meet all their basic financial needs. Here are the features and benefits of the business basic account.

• Available in Multiple Currencies: FAB Business Basic Account can be opened in multiple currencies, including AED, GBP, USD, EUR and JPY.
• Online Banking: This account offers online banking services for the account holders to help them easily access their account details. 
• Minimum Monthly Requirements: The account holders need to maintain a minimum monthly balance of AED 50,000 in their FAB Business Basic Account.
• Free Inward Remittances: FAB Business Basic Account offers free inward remittances for both local and international currencies.
• Reduced Banking Rates: The bank account comes with reduced rates for account holders to use the banking services.

Business Advantage Account: FAB Business Advantage Account offers flexible and simple banking solutions with competitive rates and other special privileges for the account holders. Here are the features and benefits of the business advantage account.

• Available in Multiple Currencies: FAB Business Advantage Account can be opened in multiple currencies, including AED, GBP, USD, EUR and JPY.
• Free Inward Remittances: The account offers free inward remittances for both local and international currencies.
• Online Banking: It offers online banking services for the account holders to help them easily access their account details.
• Minimum Monthly Requirements: The account holders need to maintain a minimum monthly balance of AED 250,000 in their FAB Business Advantage Account.
• Reduced Banking Rates: The bank account comes with reduced rates on the banking services used by the account holders.
• Unlimited Cheque Books: FAB Business Advantage Account offers free unlimited chequebooks for the account holders.

Business Preferred Account: This exclusive FAB Business Account offers comprehensive premium banking services for the account holders. Here are the features and benefits of the business preferred account.

• Minimum Monthly Requirements: The account holders need to maintain a minimum monthly balance of AED 500,000 in their FAB Business Preferred Account.
• Online Banking: FAB Business Preferred Account offers online banking services for the account holders to help them easily access their account details. 
• Free Inward Remittances: The account offers free inward remittances for both local and international currencies.
• Free Teller Transactions: It allows account holders to make unlimited teller transactions.
• Available in Multiple Currencies: FAB Business Preferred Account can be opened in multiple currencies, including AED, GBP, USD, EUR, and JPY.
• Low Banking Rates: The account comes with reduced rates on the banking services used by the account holders.
• Free Cheque Books: It offers unlimited free chequebooks for the account holders.

Business Call Account: FAB Business Call Account is an excellent bank account with attractive interest rates. It is available for both UAE residents and non-residents. The bank offers a competitive tariff and fee structure for the account holders.

• Minimum Balance Requirement: The account holders need to maintain a minimum balance of AED 10,000 to keep their FAB Business Call Account active.
• Affordable Fee Structure: FAB Business Call Account offers competitive tariffs and fee structure for the account holders.
• Attractive Interest Rates: The account offers attractive interest rates for the account holders to earn more from their savings.
• Available in Multiple Currencies: It offers multi-currency options for non-resident account holders.

Fixed Deposit: The account holders can open FAB Fixed Deposit in local and foreign currencies. The fixed deposit ensures the account holders earn more money with preferential interest rates and roll-over facilities on maturity. Here are the features and benefits of the fixed deposit.

• Flexible Deposit Terms: FAB Business Fixed Deposit offers Fixed account holders flexible deposit terms starting from 1 week to 10 years.
• Available in Multiple Currencies: The customers can open this fixed deposit in their preferred currency.
• Minimum Balance Requirement: The minimum balance requirement for FAB Business Fixed Deposit is AED 50,000 or foreign currency equivalent.
• Premature Withdrawals: The fixed deposit enables the account holders to make premature withdrawals based on their financial preferences.

Competitive Interest Rates: FAB Business Fixed Deposit offers competitive interest rates to the account holders based on the currency and duration of the deposit.

Eligibility Criteria to Open a FAB Business Account in UAE

Here are the eligibility criteria for opening a business account with FAB.

• The business must have a valid trade license
• One of the representatives must be a UAE resident
• The account holders need to maintain the minimum average balance to keep the account active

Documents Required to Open a FAB Business Account in UAE

Here is a list of documents required to open a First Abu Dhabi Business Account in the UAE.

• Emirates ID card of shareholder representative – original and a copy
• A valid passport of shareholder representative and company director – original and a copy
• Residence Visa of shareholder representative
• Business plan
• Trade License
• Articles and memorandum
• Sources of fund disclosure
• Incorporation certificate
• Good standing certificate
• Existing contracts
• Registry of shareholders
• Company extract from the official registry of the company
• Letter of reference from all the business partners

How to Open a FAB Business Account?

Here are four simple ways of opening a First Abu Dhabi Business Account in the UAE.

• Online Banking: First Abu Dhabi Bank offers an easy to access online banking portal. The applicants can visit this online portal and open their business account by uploading all the required documents. 
• Mobile Banking: The applicants can also download the ‘FAB Mobile App’ from Google Play Store or App Store to open a business account with First Abu Dhabi Bank. They can simply log in to the mobile app and place a request for the same.
• Phone Banking: FAB offers full-time help and support for its customers. The applicant can call the official helpline to place a request for account opening.
• Branch Visit: If the applicants have no access to the internet or looking for traditional ways of opening a business bank account, they can visit the nearest bank branch carrying all the essential documents. 

Click Here to Apply for FAB Bank Business Account

How to Close a FAB Business Account in UAE?

FAB business bank account holders need to visit the bank’s branch to close their bank account. Here are a few things to keep in mind.

• There should be no balance in the business account. They can transfer the existing balance to another bank account under their business’s name.

The account holders need to pay certain charges for closing their business bank account.

FAB Business Account FAQs

Q1: Do I get a free chequebook with my FAB Business Account?

Ans: Yes, you get unlimited free chequebooks with FAB Business Preferred Account.

Q2: Can I open my FAB Business Account in multiple currencies?

Ans: Yes, you can choose to open your FAB Business Account in your preferred currency.

Q3: Can I access my business account online?

Ans: Yes, you can simply log in to your mobile banking or online banking to access your account details anytime.

Q4: Do I need to pay any relationship fee for a business bank account?

Ans: No, you do not need to pay any relationship fee for your business account.