How hard is it to get UAE bank (2024)?

[PinkCat]

I was also quite pleasantly surprised. All the AED transfers were local, and it was a mix of personal/companies.

The only issue I had last month was a EUR 200,000 transfer to a Liechtenstein regulated fund on behalf of a client which was rejected by the correspondence. Funnily enough, when I called up Wio they revealed to me who is their EURO correspondence (it was Citibank Ireland) and they were even telling me how to structure the payments to avoid them being cancelled. They even said "you know money launderers are smart these days, so in order for your wires to go smoothly I suggest you writing so and so in your notes" I said sir what are you implying!


Apart from that, the only thing I have noticed with Wio recently, is that USD transfers (even those within the UAE) take much longer than before UAE was delisted from the greylist, as before it would credit within couple hours, now up to 4 days.

Also I really hope nobody from Wio is sitting on this forum lol

Edit: typos

Wow that info makes me completely change my perspective on Wio. I was looking at them as a complimentary bank acc just for casual stuff, but that makes them look even better than regular bank.
Thank you so much for sharing!

 

[uk29]

I never had an issue with Wio in AED, GBP or Euro for my business account with significant monthly volume as a resident of Dubai.

Personal banking, only issue I get occasionally is that Mashreq Neo seem to do maintenance every few months and the debit card stops working during the maintenance period.

For this reason, I requested to open an account with ADIB (personal), i applied late Tuesday night, had approval Wednesday morning and card and pin delivery today.

 

[Henn and Rich]

Personal banking, only issue I get occasionally is that Mashreq Neo seem to do maintenance every few months and the debit card stops working during the maintenance period.

Doesn't the maintenance occur at random hours for a few hours only? i.e. between 2-4am on a Monday night

 

[alley]

WIO is your best bet, very easy, no questions as long as you have your trade license, Emirates visa/ID, office lease (Ejari) and MOA. You can get multi-currency account same day.

do you help people against payment to setup an account with WIO bank ?

 

[cryptotree]

do you help people against payment to setup an account with WIO bank ?

Just try it first, it’s 3 minutes work. It can’t be easier tbf

 

[Henn and Rich]

do you help people against payment to setup an account with WIO bank ?

What the guy below me said, just download the app, submit all docs and you will have your account within 2 hrs.

 

[csp dubai]

when is too good to be true is too good to be true , is same sitution with eu emi

 

[Topspin]

Hello guys,

Tried today Wio business with FZE Ajman.. got rejected... Are there some "banned" activities with Wio / UAE banks ?
Mine are wholesale of commission fee / phones and accesories trading... as I had choice for 5 activities so I added e-commerce and advertising... (we never know..)

Please advise so I can maybe change activities and apply for other banks to avoid the same status

Cheers

 

[cuno]

Just try it first, it’s 3 minutes work. It can’t be easier tbf

what requirement to setup the account in 3 minutes? Any step-by-step list?

 

[andorra]

I have opened a commercial broker in Dubai, eu passport, but is extreamly difficult open a bank account , i was prosed buy som RM to grease the compliance officer, but if think is extreamly risky as soon as a litlle problem arise the account will be close.
i have accoount in Wio but i not trust them for good funds, i think a larger bank is better

 

[Henn and Rich]

I use Wio for large funds, all is well.

 

[andorra]

how long have you been used them?

what is the trading licence ? is international operations?

 

[Dogfy]

try Wio new era banking and features. easy to use too.

 

[PinkCat]

What is the biggest amount anyone has used Wio for and were there any questions/freezes?