🏦 7 features your UAE current account should have

We often neglect our current accounts. Maybe out of habit, loyalty, or because everything just works.

But the banking landscape in the UAE keeps evolving, and so do the products. So this is your cue to pause and take stock. Are you still with the right bank?

Read on to learn:

• Why your current account matters more than you think

• 7 features you should look for in a current account

• Opinion: What regional tensions mean for your money held in the UAE

  
  

Why your current account matters.

Your current account does more than just hold your salary and pay your bills. It usually becomes the foundation of your banking relationship - unlocking access to savings accounts, credit cards, personal loans and mortgages. That’s why choosing the right bank really matters.

The flavours - basic vs. premium

Current accounts in the UAE come in all shapes and sizes: from no-frills accounts to premium ones with exclusive perks.

What you qualify for (and the benefits you get) usually depends on your salary or average balance. Below, we’ve listed 7 important features to help you figure out what matters most.

7 features you should look for

1. Smooth digital banking experience

It's 2025 and unless you enjoy queuing at a branch, a smooth digital banking experience should be non-negotiable. You should be able to carry out most operations from the app & website without pulling your hair out.

There are now a couple of digital-only banks in the UAE whose systems are designed with the digital experience in mind. Others have launched digital arms that focus more on their digital channels. Your onboarding experience will likely be the first indicator, so if there's too much paper involved, it won't be too late to change your mind.

2. Fee-free transfers

We all have to make the occasional local transfer. We believe that transfers initiated digitally should be free. Yet, there are a number of local banks that charge for these on their most basic accounts (they become free on more premium accounts). Check your bank's tariffs & charges document to see if you'll be charged a fee for either sending or receiving local transfers.

3. Free debit card & cheque book

Luckily, we're not aware of any banks that charge for a debit card or the first cheque book. It is common for replacements to be charged though, so that's another cost to look out for!

4. Free ATM withdrawals from a range of cash machines

All banks we're aware of provide free ATM withdrawals from their own ATMs. However, many basic accounts will charge a withdrawal fee for using another bank's cash machine - usually AED 2.10.

To avoid these fees, make sure that your bank's ATM is in a convenient location for you or choose an account that allows you to withdraw fee-free from any UAE ATM.

5. Access to premium products

Choosing a certain account type may unlock other products from the bank. These could be savings accounts at higher interest rates, or premium credit cards that would otherwise incur a fee.

If these are good products that you would choose anyway then that's an added benefit. But remember, you can also get your savings account or credit card from another bank.

6. No account fee

The vast majority of current accounts will have minimum salary or balance requirements. If you don't meet those, there will be a fee associated with maintaining the account.

To avoid the fee, when choosing accounts, you should always make sure you are able to continuously meet either:

• the minimum salary requirement, or

• the minimum average monthly balance requirement

7. Trust and security

Trusting your bank is important for your own peace of mind. With scams on the rise in the UAE, make sure your bank gives you full control over your security settings. This could involve setting daily transaction limits or blocking certain transaction types (e.g. international when you're not abroad).

Let us know what other features you consider important when choosing your banks, and if you have any questions, feel free to get in touch!

OPINION - What regional tensions mean for your money held in the UAE

Tensions have escalated over the past two weeks, leading to renewed fears about regional instability. People in these situations naturally become concerned about their money.

Rest assured: we are nowhere near a scenario where the integrity of the UAE’s banking sector is at risk, or where you’d lose access to your money. For any life events, you should always know where your money is and what options you have for moving it back home if needed. But for now, we firmly recommend business as usual.

Disclaimer: Please bear in mind that this email does not constitute financial advice. Any choices you make you are solely responsible for. We always aim to provide highest quality, independent views but do your own research to ensure you’re comfortable with any changes you make to your personal finances.