Settling into a new life in the UAE comes with a lot of firsts. Securing your first apartment, starting your new job, experiencing your first desert drive, and yes, opening your first local bank account. Whether it’s receiving that first salary payment, sorting out your bills, or sending money home, choosing the right bank can make life abroad a whole lot smoother.
At Remitly, we get it—figuring out how banking works in a new country can feel a bit daunting. That’s why we hope to make things a bit simpler with this 2025 guide to banks in the UAE. From trusted local names to international favourites and modern, digital-first banks—we’ve got you covered.
Understanding the UAE banking system
Banking in the UAE is a mix of tradition and tech where long-established and trusted institutions meet futuristic finance in the same space. The system is set up to be fast, secure, and surprisingly easy to navigate once you get the basics down.
The Central Bank and how it all works
At the heart of it all is the Central Bank of the UAE (CBUAE), the organisation that keeps everything running smoothly. It regulates banks, sets financial policy, and does everything it can to maintain stability and keep your money safe and sound.
Over the years, the UAE has become one of the Middle East’s biggest financial powerhouses. With Abu Dhabi and Dubai leading the way, it’s a major gateway for global trade and investment. The UAE has also fully embraced fintech, from contactless payments to AI-driven customer support.
Types of banks in the UAE
The UAE offers two main types of banks, conventional and Islamic. Conventional banks work much like those you might know back home, offering savings accounts, loans, and credit cards with interest.
Whereas, Islamic banks follow Sharia principles, which means no interest is permitted. Instead, they operate on partnership-based models, sharing profits and focusing on ethical finance.
Local UAE banks in 2025
When it comes to banking in the UAE, local institutions are the real backbone of the system. They combine the reliability of well-established banks with the energy and innovation of a country that’s constantly reinventing itself.
A quick look at local banks
The UAE’s homegrown banks have earned a reputation that stretches far beyond the Gulf. They’re known for excellent service, strong financial stability, and an impressive embrace of technology. Most local banks also offer immigrant-friendly packages with salary transfer accounts, debit cards that work worldwide, and support in English (and often other languages).
Popular local banks to consider
First Abu Dhabi Bank [Conventional]
The UAE’s largest bank, FAB offers everything from simple current accounts to business financing and international transfers. It’s ideal if you want big-bank security with modern, digital convenience.
Emirates NBD [Conventional]
Known for its mobile app and services that immigrants will find useful, Emirates NBD is worth considering for managing your salary, transfers, and bill payments.
Abu Dhabi Commercial Bank [Conventional]
ADCB combines straightforward banking with smooth digital tools and customer-friendly support. It’s worth considering if you value simplicity.
Dubai Islamic Bank [Islamic]
The UAE’s largest Islamic bank, DIB, offers savings, financing, and investment products that follow Sharia principles. It’s trusted for its transparency and modern digital experience.
Mashreq Bank [Conventional]
One of the UAE’s oldest banks, but at the same time one of its most innovative. Mashreq offers fast digital onboarding through its Mashreq Neo app.
Abu Dhabi Islamic Bank [Islamic]
ADIB blends traditional Islamic values with modern banking convenience. It’s known for its accessible products and strong digital presence across the Emirates.
RAKBANK, the National Bank of Ras Al Khaimah [Conventional]
RAKBANK is popular with small business owners and freelancers for its simple accounts, fast approvals, and highly rated customer service.
Commercial Bank of Dubai [Conventional]
CBD offers transparent fees, an intuitive mobile app, and flexible accounts for residents and immigrants alike. It’s a solid, reliable option for everyday banking.
Sharjah Islamic Bank [Islamic]
Focused on ethical, Sharia-compliant banking, Sharjah Islamic Bank is a great fit for anybody looking for a full suite of banking services delivered under Islamic principles.
Ajman Bank [Islamic]
One of the UAE’s youngest Islamic banks, Ajman Bank stands out for its simple, innovative approach and user-friendly digital tools.
International banks in the UAE for 2025
If you’ve just moved to the UAE you’ll certainly spot familiar bank names around. As it’s a regional, and increasingly a global financial hub, almost all of the world’s multinational banks are operational in the area.
Why immigrants love international banks
Opening a bank account in a new country can feel like learning a new language. But with an international bank, there’s a good chance you already “speak the lingo.” The layout looks familiar, the tone is the same, and some global banks like HSBC, Citi, or Standard Chartered allow multi-country account management for the same customer.
Popular international banks in the UAE
HSBC [Conventional]
A well-established global bank, HSBC offers multi-currency accounts, international transfer facilities, and a multi-functional mobile app.
Standard Chartered [Conventional with Islamic window “Saadiq”]
Standard Chartered provides both conventional and Sharia-compliant options through its Saadiq division. It’s one of the options worth considering if you’re looking for flexible, globally connected banking in the UAE.
Citibank [Conventional]
Provides digital-first banking services. Citibank offers fast international transfers, credit card rewards, and 24/7 online support. It’s a good choice if your life is lived across different time zones.
BNP Paribas [Conventional]
BNP Paribas focuses on corporate and private banking, offering tailored services for professionals and business owners. Known for discretion and a more European banking approach.
Barclays [Conventional]
With a focus on private and investment banking, Barclays is ideal for professionals and high-net-worth clients. It’s a trusted name with a strong international presence.
Deutsche Bank [Conventional]
Deutsche Bank blends German precision with global expertise, mainly serving corporate and investment clients. It’s a solid choice for managing assets internationally.
Habib Bank AG Zurich [Conventional]
Popular among South Asian expats, Habib Bank AG Zurich combines dependable service with a personal touch. It’s known for reliable service and relationship-focused banking.
Bank of Baroda [Conventional and Islamic]
A long-standing favourite for Indian expats, Bank of Baroda offers both conventional and Islamic accounts and branches across the UAE’s major cities.
Digital and mobile-only banks in the UAE
If you’re the type of person who’d rather order takeaway through an app than stand in a queue, you’ll be happy to know the UAE’s banking world is right up to date. Digital and mobile-only banks have taken off here, offering entirely app-based banking that fits right into your on-the-go lifestyle.
Why digital banks are gaining ground
The UAE is on a mission to become one of the world’s smartest, most connected countries, and its banks are leading the charge. If you move around a lot for work or just travel frequently, digital banks make perfect sense.
You can check balances, transfer money internationally, or instantly freeze your card if it’s lost or stolen; no need to wait for branch hours or put up with 20 minutes of hold music.
Plus, some of the better apps offer features like instant notifications, savings tools, and AI-powered spending insights that help you actually understand where your money goes each month (yes, even those mysterious coffee runs).
Popular digital and mobile-only banks in the UAE
Liv by Emirates NBD
Designed for the digital generation, Liv lets you open an account in minutes, track spending, and set savings goals, through one of the UAE’s most popular banking apps.
Mashreq Neo
Completely paperless and app-based, Mashreq Neo lets you open an account instantly using your Emirates ID. It’s a fast, flexible option for newcomers who prefer digital simplicity.
Zand Bank
One of the UAE’s first fully digital banks, Zand offers sleek mobile banking for both individuals and businesses. It offers competitive savings rates and easy international transfers.
Wio Bank
Built for freelancers and entrepreneurs, Wio offers tools for invoicing, managing expenses, and making global transfers. It’s ideal for anyone who wants modern banking that moves at their pace.
How to choose the right bank for you
With so many great banks in the UAE, you might feel spoilt for choice. Here are some of the things to consider as you narrow down your options.
1. What kind of account do you actually need?
Start by thinking about how you’ll use your account. If your salary will be paid in dirhams, look for a current account with easy access and no minimum balance requirements.
If you want to grow your savings, a high-interest savings account might be better. Some banks even let you hold multi-currency accounts, which are ideal if you send or receive money internationally.
2. Check the fees (and the fine print)
Nobody likes unpleasant surprises when it comes to money. Remember to take a look at things like monthly account fees, minimum balance requirements, and ATM withdrawal charges, especially if you travel a lot. Most digital banks in the UAE have minimal or no fees, but traditional banks may charge a bit more for additional services.
3. Digital convenience matters
These days, for many people their phone is basically their wallet. If that sounds like you, it’ll help to choose a bank with a user-friendly app that lets you transfer money, pay bills, and check your balance instantly. You’ll thank yourself later for not having to queue in a branch or make calls for simple tasks.
4. Think about access and location
If you’re not so keen on online banking, or you just know you’re going to have to speak to a person from time to time, it’s good to have branches or ATMs nearby, especially for cash deposits or document verification. Most major banks have wide networks across the Emirates, so you’ll rarely be too far from one.
5. Look for immigrant-friendly features
If you’re new to the UAE, little conveniences can make a big difference. Some banks offer salary transfer accounts, international remittance partnerships, or even credit cards tailored for immigrants.
6. Safety and trust come first
The UAE’s banking system is highly regulated by the Central Bank, but it’s always smart to check whether a bank is licensed and well-reviewed, especially if it’s a new digital provider.
Extra tips for new arrivals
If you’re new to the UAE, getting your banking sorted early on can make a lot easier.
Documents you’ll usually need
Before heading to the bank, make sure you’ve got your paperwork ready. Most banks will ask for:
- Your passport and residence visa (or entry permit, if you’ve just arrived).
- Your Emirates ID, or at least proof that you’ve applied for one.
- A salary certificate or other proof of income.
- Proof of address, such as your tenancy contract or a recent utility bill.
It helps to keep digital copies of everything. Many banks accept uploads through their apps, which can save you a trip or two.
The UAE’s digital ID and eKYC system
Banking in the UAE is getting smarter every year. The UAE Pass and eKYC (electronic Know Your Customer) systems let banks verify your identity online.
In many cases, you can open an account online in just a few minutes. Some banks still ask for a quick in-person check to finalise things, but it’s far easier than it used to be.
Multi-currency and immigrant-friendly features
For anybody who’s made the move to the UAE, juggling more than one currency is part of life, and banks in the Emirates get that. Institutions like FAB, HSBC, and Mashreq offer multi-currency accounts, letting you hold and transfer money in AED, USD, GBP, or EUR without frequent conversions.
Finding your perfect banking match
Banking in the UAE doesn’t have to be complicated, especially once you know your options. With a mix of trusted local names, global favourites, and smart digital banks, there’s something for every lifestyle and budget.
Whether you’re opening your first account or switching to better features, the best choice is the one that fits your daily life. And once your finances are sorted, you can focus on the fun part: enjoying everything the UAE has to offer.
FAQs
What is the biggest bank in the UAE?
First Abu Dhabi Bank is the largest bank in the country and one of the strongest in the region. It’s known for stability, extensive digital tools, and wide branch network.
Can foreigners open a bank account in the UAE?
Yes. Most banks welcome foreign customers. You’ll just need your passport, residence visa, and Emirates ID (or proof that you’ve applied for one). Some banks even allow you to get the process under way online before completing it in person in a branch.
Is it possible to open a bank account before getting my Emirates ID?
In some cases, yes. A few banks let you begin the process using your passport and entry permit, especially if your visa is being processed. However, your Emirates ID will usually be required to fully activate the account.
Do UAE banks charge monthly fees?
Some do, but not all. It depends on the type of account and the minimum balance requirement. Digital banks often have no monthly fees, while traditional banks might charge a small amount if your balance drops below a certain level.
Are Islamic banks only for Muslim customers?
Not at all. Anyone can open an account with an Islamic bank. These institutions follow Sharia principles, meaning no interest is charged or paid, but services like savings, financing, and cards are available to everyone.
Which banks are best for sending money abroad?
Most major banks offer international transfers, but digital-friendly options like Emirates NBD, Mashreq, FAB, and HSBC are popular for their competitive exchange rates and fast online transfers.