- Nov 09, 2023
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Best International Banks in UAE - A Comprehensive Guide :
The UAE has become a home for people from all over the world because of its rising economy, ideal environment for business, and top-notch real estate, making it a hotspot for locals and foreigners. From luxury brands to resorts, restaurants, and even banks, many things now match international standards.
The local and international banks in the UAE are working together to provide a perfect banking experience. So, if you are visiting Dubai or are planning to move there, you don’t have to throw away your old bank cards. Before you go on that much-needed shopping trip or dinner, we have an in-depth article providing a list of the best International banks in UAE!
Leading International Banks in UAE
We have compiled every minor detail to find the best international bank in the UAE. Let’s explore together the following list and choose a bank that is an ideal choice for your financial needs:
1. CitiBank
Top international bank on our list is CitiBank. They have 200 years worth of experience in the banking world for its efficient services. Their reputation regarding reliability and innovative banking methods keeps their clients happy with a wide range of services, such as corporate banking and personal banking.
You can also get advice on making the right investment. The reviews from UAE clients are satisfactory. They have a strong hold over the UAE market, with multiple branches in Abu Dhabi, Dubai, and Sharjah. Here is their contact info and other details to inquire.
Contact details:
+971431144000
Location:
Al Wasl Branch, Sheikh Rashid Road
Time:
9:00 am to 5:00 pm, from Sunday to Thursday.
2. HSBC
HSBC is the largest banking organization in the world and has an important place in the UAE banking industry. Over 50 years of experience gives them an advantage in the banking sector as they know the financial needs of the people.
With their comprehensive services, you can manage wealth, invest in the right places, and get treasury services and corporate banking. Individuals and businesses can avail themselves of the advantages of investment banking and managing a large load of customers. HSBC is widely known to offer monetary and advisory support to businesses in prospering and growth. We have enlisted important info about this bank here:
Contact Details:
600554722
Locations:
HSBC Tower, Downtown Dubai
Time:
10:00 am - 10:00 pm, from Monday to Friday
3. Standard Chartered
Standard Chartered is a British Multinational Bank operating in Dubai for the past 60 years. Over time, they have built a strong presence in Middle Eastern, Asian, and African countries. With their expertise, they have been serving both businesses and individuals with their services.
The Standard Chartered mobile banking app is decent and has been awarded a few times. The team at Standard Chartered focuses on working sustainably and ensures they do their duty in serving socially. They have a very active team who are always ready to guide you through the process.
Contact Details:
+971 600 522 288
Locations:
Standard Chartered Tower, Downtown Dubai
Timings:
9:00 am - 5:00 pm, Sunday to Thursday
4. Barclays
Barclays is a British Multinational Bank and has been running operations since 1971. Because of their exceptional team of national and international individuals to offer multicultural services, better understanding of the banking world, multiple services including corporate banking, investment banking, and personal banking, and perfect deals they are leading the market of banking world in UAE.
They have the right team of experts who ensure smooth running and provide outstanding customer service and financial advisory. With all of the services, they also have a powerful online presence and assist clients in managing their accounts from anywhere in the world.
Contact Details:
+971 4362 1000
Locations:
Dubai International Finance Center, UAE
Timings:
9:00 am - 4:00 pm, Sunday to Thursday
5. Emirates NBD
National bank of Dubai ``Emirates' ' is a top international bank in the UAE. This bank can offer you almost all services that you can expect from a bank few to mention are investment banking, corporate banking, and personal services.
They are widely known for providing instant banking solutions with excellent customer support and have received awards for their outstanding banking application. They provide premium customer services and have an expert team ensuring assistance to all clients.
Contact Details:
600 540000
Locations:
Emirates ND Building, Al Barsha
Timings:
8:00 am - 8:00 pm, Thursday-Saturday, Monday to Wednesday
6. Royal Bank of Canada
The Royal Bank of Canada is also another decent Foreign Bank in the UAE. The RBC is one of the leading banks in Canada in terms of capitalization and a wide variety of financial services and products.
From the list of services, they provide managing wealth, commercial banking, personal banking, insurance services, and capital markets. Get in touch through calls or visit in person to get more details about their operations.
Contact Details:
971 4331 3196
Locations:
Park Place Tower, Sheikh Zayed Road, Dubai
Timings:
9:30 am - 3:00 pm, Monday to Friday
Requirements For Opening An International Bank In UAE
After choosing the right bank the first question that comes to mind is am I eligible to open an account there? Or what documentation I needed to open an account there. For those who plan to open an account in a Foreign Banks in UAE, the process is pretty effortless and requires the following:
Proof of Address
It’s important to attach a document that shows proof of where you live; it can be a rental agreement that you signed, your home agreement, or an electricity or gas bill.
Passport
Having a valid passport is another important document that you need; attaching a copy is important.
Visa
If you’re a non-resident and not an Emirati, you will need a visit visa as proof to open an account.
Source of income
Showing the bank proof of your income, your previous bank account statements, and even a letter from your employer that shows you earn money every month. Banks need this to get an idea of the amount you make yearly so they can trust you for credit cards, debit cards, and miscellaneous charges.
Deposit
Opening a bank account isn’t enough; you will also require an initial deposit amount, which you must provide to the bank to add to your account.
5 Benefits of Opening an Account in international Banks in UAE
Having an account in international bank in Dubai opens a gateway to all of the following perks:
Variety of services
Having an account in an International bank provides customers with access to a wide range of services. Starting with multiple discounts on different brands, local and international, a chance to avail loan opportunities, get insurance, smooth credit card procedure, and save money.
On growing Potential
As a customer of any American Bank in Dubai and even from other countries, the customer base is quite wide, which means you get diversity and potential under one roof. Use different events as a chance to socialize with different people to connect over similar interests and create profitable partnerships.
Access Funds Anytime And Anywhere
One of the benefits of having an account in a foreign bank in the UAE is that even if you are traveling to Malaysia, Europe, and Canada, there is ease in getting access to your funds.
Security of Funds
Creating an account in one of the Best International banks in the UAE means your funds are secure. International Banks have a high-security protocol to ensure the assets of each client remain protected while they monitor all platforms and offer advanced encryption facilities.
Personalized Advice
Managing your wealth can be tricky, especially if you don’t want money to be sitting in the account idle. International Banks in the UAE have the best financial advisers, providing access to multiple investment opportunities and financial advice.
Quickest Roadmap To Opening A Bank Account
We have summarized simple steps to make your account opening journey a hassle free experience in UAE, either you are resident or an international investor. Let’s explore these steps:
Explore above mentioned best international banks, choose the best one as per your need and preference.
Make sure you have all the necessary documents that your Time to collect all the mentioned documents as per your bank’s requirements and submit them.
Visit your bank’s branch to open your account conveniently.
As per the bank’s instructions, fill the applications and then submit the documents to the bank. Before going to the bank, you can even make a quick call to the helpline to ask what documentation is needed.
After your application gets approved by the bank, you’ll have to make your first deposit to ensure your account is working and everything is smooth.
Make sure you have all the necessary documents that your Time to collect all the mentioned documents as per your bank’s requirements and submit them.
Visit your bank’s branch to open your account conveniently.
As per the bank’s instructions, fill the applications and then submit the documents to the bank. Before going to the bank, you can even make a quick call to the helpline to ask what documentation is needed.
After your application gets approved by the bank, you’ll have to make your first deposit to ensure your account is working and everything is smooth.
Visa Requirements For Banking: Is It Needed Or Not?
If you’re planning to set up a business, then a business visa is essential because this will assist you in registering your venture in the UAE. As someone who wants to settle down or open a business or open a branch of their office, it’s important to get a few things sorted.
For new business owners, there are a few steps that you have to follow, starting with the following:
● Getting in touch with a lawyer so he can manage the legal side of your business
● Application for a business license
● Getting an office space on rent
● Get approvals
● Register your setup
But there’s no guideline that says you require an account in the foreign banks in UAE only. Having an international account just opens a gateway of opportunities and efficiently lets you make transactions, which is an advantage one must avail.
FAQs
Q: Which Is The Best International Bank In Dubai?
A: One of the Best International banks in UAE is HSBC and CitiBank, leading the market with their financial advisory services, assistance in corporate and personal banking, and investment banking services.
Q: Which Uae Bank Is International?
A: Some of the top international banks in the nation, such as HSBC, Citi Bank, and Standard Chartered, are all based in the United Arab Emirates.
Q: What Is The Largest International Bank In The Uae?
A: As one of the best worldwide banks, HSBC provides a wide range of financial services to clients worldwide. You can hop in on any of our branches and a manager will be present to guide you for all the services you want.
Final Thoughts
Now that you know so much about some of the Best International Banks in UAE. You are financially sorted and you can think about investing. With the population increasing every day and Dubai opening its doors to the people of the world, there are so many upcoming projects.
Some of the most trusted and famous developers and builders are making beautiful buildings. Real Estate in Dubai is prestigious, with a list of top-tier amenities and a chance to make you experience comfort with a dash of luxury, providing access to Dubai’s malls, top eateries, beaches, and even the business bay.
The ROI is impressive and varies depending on the area you choose to invest in. There are so many properties to choose from, and it continues beyond there. You can also get a Golden Visa for yourself and your family, allowing you to live comfortably, access the luxury of Dubai, and use Foreign Banks in UAE to make safe transactions onshore and offshore!
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