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Mashreq Bank Current Account

Mashreq Bank offers current bank accounts to provide its customers a combination of flexibility, convenience, and financial as well as non-financial benefits, ensuring that they always have access to their bank account that suits their banking needs.

In general, the bank offers three types of current accounts i.e. Current Account, Sweep Current Account, and Current Gold Accounts. Each of these bank accounts is designed to manage its account holder’s finances in a way that meets their day-to-day transactions needs. Also, Mashreq Bank Current Account comes with amazing benefits & features that make it one of the best current accounts in the UAE.

Features & Benefits of Mashreq Bank Current Account

Given below are the key features and benefits of the current bank accounts offered by the Mashreq Bank:

Current Account

  • Quick & Easy Process: The process of opening this bank accountis quite easy & quick.
  • Minimum Balance Requirement: The account holder needs to maintain a minimum monthly average balance of AED 3,000.
  • Initial balance Requirement: The account holder needs to deposit AED 3000 initially in order to open this Mashreq Bank Current Account.
  • Cheque Book: The account holder can avail free cheque book (only the first one) along with this bank account.
  • Manned Transactions: The account holder can make a maximum of six manned transactions in a month.
  • Instant Privileges: The bank will issue Visa Debit Card & Cheque Book along with this bank account instantly.
  • Cash Withdraw Facility:The account holder can withdraw cash at over 1.8 million ATMs in 200+ countries with ease.
  • Purchase Facility: The Mashreq Bank offers its customers the facility of making purchases at over 24 million retail outlets globally.  
  • Online & Mobile Banking:The account holder can avail free access to online & mobile banking.
  • Tele-Banking Services: The account holder can also avail free tele-banking services with this Mashreq Bank Current Account.

Sweep Current Account

  • Interest Earned: This is an ideal Mashreq current accountthat enables its account holder to earn interest on unutilized funds without keeping their money locked for a fixed duration. With this Mashreq Bank Current Account, the funds are automatically transferred into an interest-bearing deposit after a specific level. But the account holder can get access to their funds any time without paying any penalty.
  • Complimentary Debit Card & Cheque Book: This bank accountcomes with complimentary debit card & first free cheque book.
  • Easy Accessibility: The account holder can avail easy access & withdraw funds any time using any channel of the Mashreq Bank i.e. Branch, ATM, Mobile Banking, and MOL.
  • Initial balance Requirement: The account holder needs to deposit AED 3000 initially in order to open this Mashreq Bank Current Account.
  • Instant Privileges: The bank will issue Visa Debit Card & Cheque Book along with this bank account instantly.
  • Minimum Balance Requirement: The account holder needs to maintain a minimum monthly average balance of AED 3,000.
  • Manned Transactions: The account holder can make a maximum of six manned transactions in a month.
  • Quick & Easy Process: The process of opening this bank accountis quite easy & quick.
  • Cash Withdraw Facility:The account holder can withdraw cash at over 1.8 million ATMs in 200+ countries with ease.
  • Purchase Facility: The Mashreq Bank offers its customers the facility of making purchases at over 24 million retail outlets globally.  
  • Online & Mobile Banking:The account holder can avail free access to online & mobile banking.
  • Tele-Banking Services: The account holder can also avail free tele-banking services with this Mashreq Bank Current Account.

Current Gold Accounts

  • Accessibility:The account holder can get access to more than 29 ‘Mashreq Gold Locations’ throughout the branch network.
  • Preferential Rates: The bank offerscompetitive rates on forex, remittances, and deposits. In addition to this, the account holder can avail preferential interest rates on loan as well.
  • Free Debit Card:The account holder can avail complimentary ‘Signature Debit Card’ along with this Mashreq Bank Current Account and enjoy free local & international ATM withdrawals.
  • Free Credit Card: The account holder can avail complimentary ‘Platinum Elite Credit Card’with this bank account. This is basically a ‘free of life’ credit card that comes with an array of lifestyle benefits & privileges.
  • Special Privileges: The account holder can avail three complimentary Marhaba (Golden Class in Abu Dhabi& Bronze in Dubai) airport services annually.
  • Mashreq Salaam Access: It is basically one of the best loyalty programs of the UAE that makes the entire banking relationship rewarding.
  • Event Invitation: The account holder can also avail an invitation to an exclusive ‘Gold Events’.
  • Cash Withdraw Facility:The account holder can withdraw cash at over 1.8 million ATMs in 200+ countries with ease.
  • Quick & Easy Process: The process of opening this bank accountis quite easy & quick.
  • Instant Privileges: The bank will issue Visa Debit Card & Cheque Book along with this bank account instantly.
  • Purchase Facility: The Mashreq Bank offers its customers the facility of making purchases at over 24 million retail outlets globally.  
  • Online & Mobile Banking:The account holder can avail free access to online & mobile banking.
  • Tele-Banking Services: The account holder can also avail free tele-banking services with this Mashreq Bank Current Account.

Eligibility Criteria Required to Open a Mashreq Bank Current Account in UAE

The applicant needs to meet the following eligibility criteria in order to open a Mashreq Bank Current Account:

Mashreq Current Bank Accounts Eligibility Criteria
Current Account
  • Minimum Monthly Income Required: AED 5,000
  • Minimum Age Required: 21 years
  • Other Requirement: UAE Resident Visa Holders.
Sweep Current Account
  • Minimum Monthly Income Required: AED 5,000
  • Minimum Age Required: 21 years
  • Other Requirement: UAE Resident Visa Holders.
Current Gold Accounts
  • Monthly Salary Transfer Required: AED 50,000.
  • Minimum Average Balance Required: AED 300,000 in any Mashreq Current Accounts, Savings Accounts, Fixed Deposit, or Investments.
  • Additional Requirements: Have a minimum home loan of AED 2.5 Million.

Documents Required to Open a Mashreq Bank Current Account in UAE

Following are the required documents to open a current account with Mashreq Bank:

Mashreq Current Bank Accounts Required Documents
Current Account
  • A Valid Passport with Resident Visa Page for Expats/Emirates ID
  • Application Form
Sweep Current Account
  • A Valid Passport with Resident Visa for Expats/Emirates ID
  • Application Form
Current Gold Accounts
  • Resident Visa

How to Open a Mashreq Bank Current Account in the UAE?

The applicant can open a Mashreq Bank Current Account through any of the below mentioned ways:

  • Online: The applicant can visit the bank’s official website in order to open a current accountwith Mashreq Bank.
  • Offline: Visit the nearby branch of Mashreq Bank in order to open a Mashreq Bank Current Account
  • Phone Banking: The applicant can also contact the bank on its official customer support number +9714 424 4444 for opening a current account in the UAE.

How to Close a Mashreq Bank Current Account in the UAE?

Closing a Mashreq Bank Current Account is easy and simple. The account holder just needs to provide a written statement of their request in order to close their current bank account. This can be done by taking an ‘Account Closure Form’ from the nearby Mashreq Bank branch.

Mashreq Bank Current Account - FAQs

Q.1. Do I need to maintain a monthly average balance in any of the current accounts offered by the Mashreq Bank?

Ans: Yes, you are required to maintain a minimum monthly average balance of AED 3,000 in ‘Current Account’ & ‘Sweep Current Account’.

Q.2. What is the non-maintenance charges?

Ans: If your account’s balance goes below AED 3000 in ‘Current Account’ & ‘Sweep Current Account’ then you will have to pay a non-maintenance charge of AED 26.25 (or equivalent in other foreign currencies).

Q.3. What is the manned transaction?

Ans: A manned transaction is basically a transaction that is made in the bank’s branch and it doesn’t include all those transactions that are made on an ATM or CCDM.

Q.4 I am not a UAE resident. Can I still open a Mashreq Bank Current Account?

Ans: In order to open a current accountwith the Mashreq Bank, a ‘Residence Visa’ is mandatory. However, you may open a savings account with the bank.

Q.5.  Can I avail free cheque book with any of Mashreq Bank Current Accounts?

Ans: Yes, you can avail first free cheque book with ‘Current Account’ & ‘Sweep Current Account’.

Q.6. Can the interest rate on ‘Sweep Current Account’ change?

Ans: The applicable rate of interest charged on Sweep Current Account can be changed anytime without prior notice as per the sole discretion of the bank.

Q.7.  Do I have to pay any account closure fee for closing a Mashreq Bank Current Account?

Ans: Yes. You need to pay an account closure fee of AED 105 for closing Mashreq Bank Current Accountonly when the bank account is closed within one year.

Q.8. Do any of these Mashreq Bank Current Accounts offer complimentary debit card?

Ans: Yes, you can avail a complimentary debit card with Sweep Current Account & Current Gold Accounts that comes with plenty of exclusive privileges and perks.