The Federal Tax Authority (FTA) has announced that businesses must complete Corporate Tax registration within 90 days from the Date of Incorporation / MOA.
What is Digital banking in the UAE?
Digital banking in UAE means using online or mobile apps to manage your bank account without going to a branch. You can open an account, transfer money, pay bills, apply for loans, and more, all from your phone or computer.
The UAE is one of the leading countries in digital banking, thanks to strong support from the government and the Central Bank. Many banks, like Emirates NBD, Mashreq, and ADIB, offer great digital services. There are also digital-only banks like Liv, Mashreq Neo, and Wio Bank, which give fast and easy banking without paperwork or long queues.
Whether you're a resident or a foreigner, digital banking in the UAE is safe, quick, and user-friendly. With features like face recognition login, spending trackers, and 24/7 support, it helps you stay in control of your money anytime, anywhere.
What are the Benefits of Digital Banking in UAE?
Digital banking in the UAE offers a wide range of benefits for individuals, entrepreneurs, and businesses, making financial management faster, safer, and more efficient. Here are the key advantages:
1. 24/7 Access to Banking Services
UAE Digital banking platforms allow users to access their bank accounts and perform transactions anytime, anywhere. Whether you’re checking balances, transferring funds, or paying bills, everything is available 24/7 through mobile apps or online portals.
2. Faster Transactions
Compared to traditional banking, digital banking significantly reduces the time required for tasks like money transfers, utility bill payments, and account management. Instant notifications also keep you updated in real time.
3. Easy to Manage Accounts
With digital banking, you don’t need to visit a bank branch. You can open an account, apply for a credit card or loan, and check your finances anytime from your phone.
4. Strong Security Measures
Digital banks in the UAE employ high-level security measures, such as face or fingerprint login, two-step verification, and encrypted data, to safeguard your money. You can also freeze or unfreeze your card instantly.
5. Saves You Money
Because digital banks have lower costs, they often charge lower fees. You may also receive better interest rates and more affordable options for sending money abroad or using your card.
6. Paperless & Eco-Friendly
Digital banking in UAE reduces the need for paper. Your bank statements and notifications are all digital, helping the environment and cutting down waste.
7. Smart Money Tools
Many digital banks offer features like budget planners, expense trackers, and savings goals to help you take control of your money easily.
8. Modern Banking Options
From virtual debit cards and tap-to-pay features to cryptocurrency access and global transfers, UAE digital banks offer modern services that match your tech-savvy lifestyle.
9. Better User Experience
Digital banks focus on simplicity. Their apps are easy to use, available in different languages, and backed by quick and helpful customer service.
How to Open a Digital Bank Account in the UAE – Step-by-Step Guide?
Here’s a step-by-step guide to help you get started:
Step 1: Choose the Right Digital Bank
Start by researching and comparing the best digital banks in the UAE. Some popular options include:
- Liv Bank (by Emirates NBD)
- Mashreq Neo
- Wio Bank
- ADIB Amwali
- Zand Bank
- YAP
Consider features such as zero fees, minimum balance requirements, account types (personal or business), mobile app interface, and customer support.
Step 2: Check Eligibility Requirements
Each digital bank has different requirements. In general, you’ll need:
- A valid Emirates ID (for residents)
- A passport copy and visa page (for expats)
- A valid UAE mobile number
- Sometimes proof of income or a salary certificate (depending on the bank)
Step 3: Download the Mobile App
Visit the official app store (App Store for iOS or Google Play for Android) and download your chosen bank's app.
Make sure the app is verified and published by the official bank to avoid scams or phishing.
Step 4: Register and Verify Your Identity
Once installed, launch the app and start the registration process:
- Enter your personal details (name, mobile number, email, etc.)
- Scan and upload your Emirates ID or passport
- Some banks may ask for a short selfie video or biometric verification to confirm your identity
Step 5: Submit Your Application
After completing the verification steps, you can:
- Select your account type (current, savings, salary, etc.)
- Choose additional services (like debit cards or virtual cards)
- Set up your username and password
Step 6: Start Banking Digitally
Once your account is approved, you’ll receive:
- A virtual debit card (instantly via the app)
- Option to request a physical card (delivered to your address)
- Access to features like bill payments, money transfers, budget tracking, international transfers, and savings goals
Best Digital Banks in the UAE in 2025
The UAE has embraced digital transformation in the banking sector, offering residents a wide range of smart and secure online banking options. As of 2025, these are some of the top digital banks in the UAE that are redefining the banking experience:
1. Liv. by Emirates NBD
- One of the first lifestyle digital banks in the UAE, Liv. is designed for millennials and digital-savvy users.
Features:
- Instant account opening via app
- Budgeting and expense tracking tools
- Integration with Apple Pay and Samsung Pay
- No minimum balance requirements
2. Mashreq Neo
- A full-service digital bank launched by Mashreq Bank that offers everything from savings accounts to investments.
Features:
- 100% paperless account opening
- International money transfers
- Bill payments and mobile top-ups
- Real-time transaction alerts
3. YAP
A leading independent digital banking platform in the UAE that partners with RAKBANK.
Features:
- In-app financial analytics and spending insights
- Virtual cards for secure online payments
- No hidden fees
- Money transfers and budgeting tools
4. Zand
- The UAE’s first fully independent digital bank offering both retail and corporate banking services.
Features:
- Seamless onboarding and KYC process
- Competitive rates on savings
- Business banking solutions
5. Wio Bank
- A new digital bank backed by First Abu Dhabi Bank (FAB), Etisalat, and ADQ.
Features:
- Innovative mobile-first banking
- Expense management tools for businesses
- Smart invoicing and payment features
Conclusion
Digital banking in the UAE is transforming how people handle money, making it faster, safer, and more convenient than ever. From opening accounts to making transactions, everything can now be done online with just a few clicks.
As the country continues to lead in financial innovation, digital banking is becoming a smart choice for both individuals and businesses. Whether you're new to the UAE or looking to switch to smarter banking , Reyson Badger can guide you through the process with expert support and up-to-date solutions.
