Top 10 best banks for expats in Dubai

Dubai is a city of opportunities and rapid growth, attracting expats from around the world. One of the first crucial steps to settling in is finding the right bank that meets your financial needs, from everyday banking to expat-friendly services. So, here’s a guide to the top 10 banks in Dubai for expatriates.

1. Emirates NBD

Emirates NBD is often considered the go-to bank for expats in Dubai, thanks to its diverse set of services and expat-friendly banking solutions. With multiple branches and ATMs located throughout the city, convenience is at your fingertips. The bank offers personalized account options that include benefits such as free international transfers, multi-currency options, and preferential exchange rates—ideal for those regularly sending money abroad. Expats also appreciate the easy account setup process and the all-in-one mobile banking app, which makes managing finances flawless. Real feedback highlights its efficient customer service and robust online features, making it a trusted choice for many newcomers.

• Account options: Current Accounts, Savings Accounts, and packages for salaried individuals
• Minimal amount requirement: starting from AED 3,000 for basic accounts
• Headquarter location: Baniyas Road, Deira, P.O. Box 777, Dubai, United Arab Emirates

2. Dubai Islamic Bank

Dubai Islamic Bank (DIB) is a leading choice for expats seeking Sharia-compliant banking services. Known for its strong presence in the UAE, DIB provides accounts designed for those who prefer Islamic finance principles, which can be a significant advantage for many expatriates. The bank offers competitive savings accounts, flexible current accounts, and specialized packages with added benefits like salary advances and free debit card issuance. Expats often mention the bank’s proactive customer support and an intuitive mobile app that simplifies managing accounts on the go. DIB’s commitment to customer satisfaction, combined with reliable, expat-centric services, makes it a solid pick for financial stability in Dubai.

• Account options: Current Accounts, Savings Accounts, Al Islami 2-in-1 Account, and more
• Minimum amount requirement: Typically requires a minimum balance of AED 3,000
• Headquarter location: Al Maktoum Road, Deira, P.O. Box 1080, Dubai, United Arab Emirates

3. First Abu Dhabi Bank – FAB

First Abu Dhabi Bank (FAB) is the largest bank in the UAE, offering a diverse suite of services designed for expatriates. With an extensive network of branches and ATMs across Dubai, FAB ensures accessibility and convenience for its customers. The bank provides a variety of account options, including multi-currency accounts, which are particularly beneficial for expats managing finances in different currencies. FAB’s digital banking platform is user-friendly, allowing easy management of accounts, transfers, and bill payments through their mobile app. Additionally, FAB offers competitive personal loan options for expatriates, with interest rates starting from 5.34% fixed per year and loan amounts up to AED 2 million, suiting various financial needs.

Customers often praise FAB for its efficient customer service and the ease of account opening processes, making it a preferred choice for many expats settling in Dubai.

• Account options: Personal Current Accounts, Savings Accounts, and specialized packages like the FAB Etihad Guest Account
• Minimum amount requirement: Typically requires a minimum balance of AED 3,000
• Headquarter location: FAB Building, Khalifa Business Park, Al Qurm District, P.O. Box 6316, Abu Dhabi, United Arab Emirates

4. Abu Dhabi Commercial Bank – ADCB

Abu Dhabi Commercial Bank (ADCB) is a leading financial institution in the UAE, offering diverse services for expatriates. With a strong presence in Dubai, ADCB provides convenient access through several branches and ATMs. The bank offers various account options, including current and savings accounts, designed to meet the diverse needs of expats. ADCB’s digital banking platform is user-friendly, allowing customers to manage their finances efficiently through online and mobile banking services. Additionally, ADCB provides competitive personal loan packages for expatriates, with interest rates starting from 6.49% per annum and loan amounts up to AED 1 million, suiting various financial requirements.

• Account options: Current Accounts, Savings Accounts, and specialized packages like the Millionaire Destiny Savings Account, and more
• Minimum amount requirement: Typically requires a minimum balance of AED 5,000
• Headquarter location: Sheikh Zayed Street, P.O. Box 939, Abu Dhabi, United Arab Emirates

5. Mashreq Bank

Mashreq Bank, established in 1967, is one of Dubai’s oldest and most reputable financial institutions, offering a comprehensive range of services tailored to expatriates. The bank provides various account options, including non-resident accounts, which combine convenience and flexibility, allowing access to cash in over 200 countries.

Mashreq’s digital banking platform is robust, featuring services like Chat Banking via WhatsApp, enabling customers to check balances, view transactions, and apply for products directly through the app.

Additionally, Mashreq offers home loans for non-residents, facilitating property ownership in the UAE with loan amounts up to AED 10 million and tenors up to 25 years.

Customers often praise Mashreq for its innovative digital solutions and responsive customer service, making it a preferred choice for many expatriates seeking efficient and accessible banking services in Dubai.

• Account options: Current Accounts, Savings Accounts, and specialized packages like the Mashreq Neo digital account, and more
• Minimum amount requirement: Typically requires a minimum balance of AED 3,000
• Headquarter location: Al Umniyati Street (off Al Asayel Street), Burj Khalifa Community, P.O. Box 1250, Dubai, United Arab Emirates

6. RAKBank

RAKBANK, also known as the National Bank of Ras Al Khaimah, offers diverse services adapted to expatriates. The bank provides various account options, including non-resident accounts, which combine convenience and flexibility, allowing access to cash in over 1 million ATM locations worldwide.

RAKBANK’s digital banking platform is robust, featuring services like the RAKBANK App, enabling customers to manage their accounts, conduct secure transactions, and enjoy a range of innovative features.

Additionally, RAKBANK offers personal loans for expatriates, with competitive interest rates and flexible repayment options, catering to various financial requirements.

• Account options: Current Accounts, Savings Accounts, and specialized packages like the RAKbooster Savings Account, which provides higher interest rates for higher balances.
• Minimum amount requirement: Typically requires a minimum balance of AED 3,000
• Headquarter location: Sheikh Mohammed Bin Zayed Road in Ras Al Khaimah, United Arab Emirates

7. Standard Chartered Bank

Standard Chartered Bank, with a presence in the UAE since 1958, offers a complete suite of services adapted to expatriates. The bank provides various account options, including multi-currency accounts, facilitating international transactions—a significant advantage for expats managing finances across borders.

Standard Chartered’s digital banking platform is robust, featuring services like online mutual funds, trade FX, and online equity trading, enabling customers to manage their accounts, conduct secure transactions, and access a range of investment opportunities.

Additionally, the bank offers personal loans for expatriates, with competitive interest rates and flexible repayment options, catering to various financial requirements.

• Account options: Current Accounts, Savings Accounts, and specialized packages like the Priority Banking Account, and more
• Minimum amount requirement: Typically requires a minimum balance of AED 3,000
• Headquarter location: 1 Basinghall Avenue, London, EC2V 5DD, United Kingdom. 

8. HSBC Middle East (HBME)

HSBC Middle East (HBME) is a Renowned financial institution in the UAE,  providing various account options for expatriates, including non-resident accounts, which combine convenience and flexibility, allowing access to cash in over 1 million ATM locations worldwide.

In addition to that, HSBC features services like the HSBC UAE Mobile Banking app, enabling customers to manage their accounts, conduct secure transactions, and enjoy a range of innovative features.

HSBC also provides personal loans for expatriates, featuring competitive interest rates and adaptable repayment plans to meet diverse financial needs.

• Account options: Current Accounts, Savings Accounts, and specialized packages like the HSBC Expat Account, which provides international banking services and multi-currency options
• Minimum amount requirement: Typically requires a minimum balance of AED 3,000
• Headquarter location:  HSBC Tower, Emaar Square, Downtown Dubai, United Arab Emirates

9. Citibank

Citibank, a global financial institution with a strong presence in Dubai since 1964, offers a range of services for expatriates. The bank provides various account options, including multi-currency accounts, facilitating international transactions. Citibank also provides personal loans for expatriates, featuring competitive interest rates and flexible repayment plans to meet diverse financial needs.

The Citi Mobile® App is another standout offering from Citibank, designed to facilitate account management, secure transactions, and a host of advanced features.

A key highlight of Citibank is its highly praised responsive customer service and easy account opening process, making it a trusted option for expatriates in Dubai.

• Account options: Current Accounts, Savings Accounts, and specialized packages like the Citigold Account, which provides personalized wealth management services and exclusive benefits.
• Minimum amount requirement: Typically requires a minimum balance of AED 35,000
• Headquarter location: 388 Greenwich Street, New York, NY 10013, USA

10. Commercial Bank of Dubai (CBD)

Commercial Bank of Dubai (CBD), established in 1969, has evolved into a leading financial institution in the UAE, offering a comprehensive range of services. CBD provides various account options, including current and savings accounts, designed to meet the diverse needs of expats. CBD also provides competitive personal loan options for expatriates, featuring interest rates starting at 6.49% per annum and loan amounts of up to AED 1 million to meet diverse financial needs.

In addition, the bank’s digital banking platform is user-friendly, allowing customers to manage their finances efficiently through online and mobile banking services. 

• Account options: Current Accounts, Savings Accounts, and specialized packages like the CBD Expat Account, which provides benefits such as free international money transfers and access to exclusive discounts
• Minimum amount requirement: Typically requires a minimum balance of AED 5,000
• Headquarter location: Al Ittihad Street, P.O. Box 2668, Dubai, United Arab Emirates

Summary Table of the Best Banks for Expats in Dubai

Best NeoBank Options for Expats in Dubai

In the dynamic financial landscape of Dubai, neobanks have emerged as a popular choice among expatriates looking for digital-first banking solutions. These banks offer user-friendly interfaces, swift account setups, and services adapted to the needs of a tech-savvy clientele. Here are some top neobank options for expats in Dubai:

Liv. by Emirates NBD

Liv., launched by Emirates NBD, is the UAE’s first digital bank designed with millennials and expatriates in mind. The account opening process is entirely digital, requiring only a valid Emirates ID and a few minutes to set up. Liv. offers a range of features, including real-time spending insights, goal-based savings accounts, and attractive deals on dining and entertainment. The app’s intuitive design makes it easy to manage finances, track expenses, and even invest in gold digitally. 

Mashreq NEO by Mashreq

Mashreq NEO is a full-service digital bank offering diverse suite of banking products without the need to visit a physical branch. Expats can open an account online and enjoy benefits such as free international money transfers to over 35 countries, competitive interest rates on savings, and access to global stock markets for investment purposes. The NEO app also provides features like bill payments, mobile top-ups, and personalized financial insights, making it a convenient choice for managing daily finances. 

Xpence

Xpence is a digital bank designed for freelancers, entrepreneurs, and small business owners, including expatriates operating in Dubai. It offers an easy account opening process, multi-currency wallets, and expense management tools that simplify financial operations for business users. With Xpence, users can issue virtual and physical cards, automate expense tracking, and integrate with accounting software, making it an ideal choice for expats managing business finances.

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