Open bank account instantly with zero maintenance fees
First Abu Dhabi Bank is one the largest banks in UAE, with its international branches spanning across five continents. It provides global relationship, expertise and financial support to local and international businesses. The bank offers numerous business accounts like business basic, advantage and preferred accounts designed to meet the customers’ goals and needs. The business basic account supports businesses to meet banking requirements in the competitive corporate environment with safety and security.
FAB Business Basic Account provides multi-currency options, including major global currencies like USD, GBP, EUR, JPY apart from AED, giving your business international access with ease and reliability. In addition, the account also offers numerous advantages for nurturing business like reduced banking service rates, free inward remittance for both local and foreign currencies, etc. In this article, we will be looking into the detailed benefits, features and facilities of the FAB Business Basic Account.
First Abu Dhabi Bank Business Basic Account offers suitable features for new and upcoming businesses, covering all the basic requirements of a business in a single basket. Some of the key features of the FAB Business Basic Account are mentioned below:
First Abu Dhabi Bank offers reduced banking charges. Some of the fees and charges on FAB Business Basic Account are mentioned below:
|Minimum Monthly Average Balance||AED 50,000|
|Monthly Fall below Fee||AED 250|
|Business Relationship Fee||Nil|
|Account Maintenance Charges|
|Closure of Account Charges (within 12 months)||AED 150|
|Changes in Customer’s Package Fee (Upgrade/Downgrade)||AED 250|
|Fund Transfers (Internal)||Nil|
|Deposit/Withdrawal of Foreign Currency Cash||1% for all foreign currencies|
|Per Transaction Fee||Two free transactions monthly, subsequently AED 10 per transaction|
|Bulk cash deposit at cash deposit centres in AED||0.10% for AED 0.50 Million - AED 1 Million. 0.25% for more than AED 1 Million collected across all the branches and cash deposit centres per day.|
|Bulk cash withdrawal at bank’s counter and cash deposit centres in AED||0.10% for AED 0.50 Million - AED 1 Million. 0.25% for more than AED 1 Million collected across all the branches and cash deposit centres per day.|
|Third payment cheque encashment per instrument||Nil|
|Inward Remittance (AED)||Nil|
|Inward Remittance (All major foreign currencies)||Nil|
|Swift message Charges for Copy of Inward Remittance||AED 10|
|Central Bank (UAE) - Outward Telex Transfer charges||AED 50|
|Charges for Outward Telex Transfer – GCC||AED 30|
|Charges for Outward Telex Transfer (Other countries)||AED 70|
|Cancellation/ Amendments against Outward Remittance||AED 30|
|Responding or raising inquiries on customers’ behalves||AED 30|
|Charges for Swift Copy - Inward/Outward||AED 20|
Given below are the eligibility criteria to apply for Business Basic Account:
First Abu Dhabi Bank offers convenient ways to open the business basic account via online and offline modes. Given below are the ways to open a business basic account.
Q1: What is the average monthly balance required in FAB Business Basic Account?
Ans: A minimum average balance of AED 50,000 is required in the FAB Business Basic Account.
Q2: Is there any fall below charge in FAB Business Basic Account?
Ans: Yes, FAB charges a fall below fee of AED 250 on the Business Basic Account.
Q3: Is there any relationship fee in FAB Business Basic Account?
Ans: No, there is no relationship fee in FAB Business Basic Account.
Q4: Are there any inward remittance charges in FAB Business Basic Account?
Ans: No, there are no inward remittance charges for AED or other currencies in Business Basic Account.
Q5: Are demand draft and chequebook facilities available in FAB Business Basic Account?
Ans: Yes, FAB Business Basic Account offers demand draft and chequebook facilities, where the first chequebook is issued free of charge, while the charges for issuance of demand draft is AED 30.