0️⃣ Zero fee current accounts in the UAE: April 2025
- Kacper Duda
- Apr 30
- 3 min read
In many countries, basic banking services are guaranteed to be free. In the UAE, often the basic bank accounts come with salary or minimum balance requirements and a monthly fee if you don't meet them.
But if you've just arrived in the country, just started freelancing or are a homemaker, you may be looking for a truly zero fee & zero requirements account. In this article you'll find out:
What to look for in zero fee accounts in the UAE
Banks that offer basic zero fee accounts
In the news: Beware of a new WhatsApp scam using images in messages
Don't forget to share this article with your friends & family who might need these services, as banking is a fundamental need for everyone.
What to look for in zero fee accounts in the UAE
By the very nature of these accounts, the services offered are basic. However, you should be looking at the following essentials when choosing a bank to go for:
Monthly fee - Ideally, your current account should not charge a monthly fee, no matter what balance you keep in the account.
Minimum balance requirements - Frequently, banks will offer zero fee accounts in exchange for you keeping a min. balance in the account. Make sure you can meet that min. balance, otherwise a fee will likely apply.
Debit card and cheque book - You'll need a debit card to pay and withdraw cash. Cheques are often required to pay for your accommodation. Both card and cheque book should be free.
ATM cash withdrawal fees - All banks will let you withdraw cash free of charge from their own ATMs but only premium accounts will have free withdrawals from other banks' ATMs. When choosing a zero fee account, it's worth checking where your closest free ATM is located.
Local transfer fees - You want to be able to transfer money freely within the UAE, without incurring fees. Some banks charge for both outgoing and incoming transfers!
Banks that offer zero fee current accounts
Zero fee current accounts with no minimum balance requirements are few and far between. In fact, our research has found that only Sharjah Islamic Bank truly offers this service.
Bank account | Fee / balance requirement | Other details |
|---|---|---|
0 fee, 0 balance | Free debit card, free cheque book, AED 1.05 for local transfer. Non-SIB ATM cash withdrawal AED 2.10. Available through mobile banking only. |
The next best option (and more popular in the UAE banking world) are accounts that you can open with no salary certificate and that will waive the monthly fee if you keep an average monthly balance of AED 3,000. Here, your choice is bigger.
All of the following accounts are very similar and share the following characteristics (we noted any deviations in the table below):
AED 3,000 monthly min. balance requirement or a fee of AED 26.25 / month applies
Free debit card & cheque book
Free local AED transfers
Bank account | Account-specific details |
|---|---|
Non-EI ATM cash withdrawal AED 2.10. | |
Non-ENBD ATM cash withdrawal AED 2.10. | |
Free cheque book only for salary accounts. Non-ENBD ATM withdrawal AED 2.10 (Liv is part of ENBD). Digital bank only. | |
AED 25/month if min. balance requirement not met. Non-FAB ATM withdrawal AED 2.10 (Wio partnered with FAB). Digital bank only. |
There are other accounts with an AED 3,000 min. balance that we have not included as they charge local transfer fees (either incoming, outgoing or both).
As a general rule, the more you are able to commit in terms of a min. monthly balance or an incoming salary, the wider your choice of "zero fee" accounts becomes.
IN THE NEWS - Beware of a new WhatsApp scam using images in messages
Protecting your hard-earned money is one of our key goals. Scammers and their technology keep evolving, and we have to too.
This latest scam embeds malware into an image sent via WhatsApp so be careful not to open images received from unknown numbers and make sure your phone is protected by anti-virus software. You can read about this new scam in this Khaleej Times article.
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.
