Home  >  Credit Cards  >  Banking FAQs

Banking FAQs

Banking FAQs

How to open a bank account in simple steps?

You can open a bank account easily by following these simple steps:-

  • Banks offer different types of accounts such as savings accounts, current accounts, fixed deposit accounts etc. Choose a bank account as per your financial needs and goals.
  • Visit the bank Website/Branch and fill up the relevant bank account opening form.
  • Submit the relevant documents such as income statements, photographs, Identity proof and any other documents mentioned in the account opening form.
  • Read the terms and conditions in the form carefully.
  • Sign the form and submit it to the bank.
  • Fund your account and start using it.

How can Offshore Banking be Beneficial for UAE Expats?

If you are an expat in UAE, an Offshore Bank Account is among the most convenient and practical ways to manage your money. Offshore banking offers you freedom from the hassles of opening multiple bank accounts in different countries to manage your foreign income. As one of the leading offshore banks in UAE, Citibank offshore bank accounts offers the following advantages:-

  • Flexibility to manage your money in 21 different currencies through a multi-currency account.
  • Online brokerage with access to leading markets across the globe.
  • Instant access to your cash across the world via Citibank ATMs worldwide.
  • Fee-free, instant global transfers to Citibank accounts in more than 20 countries across the world.
  • 24x7 multilingual customer support.
  • Time-zone advantage, as UAE trading hours, overlap with Asia, Europe and America.

How safe is Internet or Mobile Banking?

While it’s true that digital banking channels such as Internet and Mobile Banking do carry certain risks, they can be used with utmost safety by following certain precautions. Follow these simple tips to enjoy secure banking on the go:-

  • Change your password regularly, at least once every six months. Also, remember to keep your password confidential at all times.
  • Avoid logging through public computers in places like cyber cafes or libraries as there are more chances of your password being traced. However, if logging through a public place is unavoidable, make sure to clear your cache and browsing history.
  • Check your account statements regularly. That way, you can notice any discrepancies in your account activity and report it to your bank immediately.
  • Always use a licensed antivirus software. Pirated versions of the antivirus software fail to protect your computer from new viruses and other malicious software.

How to choose best Interest Savings Account in UAE?

Savings account are offered by numerous banks in UAE. However, if you want to end up with the best savings account in the UAE, make sure to consider the following pointers:-

  • Interest rates – Although many savings accounts offer low interest rates, it doesn’t hurt to choose the one that offers a relatively higher interest rate.
  • Amount of minimum balance – The sole purpose of having a savings account is facilitating maximum liquidity. Savings Accounts that have a high minimum balance requirement can hamper your cash flow. Hence, you should choose Savings Accounts which have a low minimum balance requirement. Some banks also offer zero balance savings accounts in UAE.
  • Net banking facilities – Always opt for a Savings Account that offers you online banking and mobile banking facilities. That way, you can manage your money anytime and anywhere.
  • Debit Card Deals – Attractive debit card deals can be a big differentiator that can help you choose the best Savings Account in Dubai and all of UAE. Some banks offer attractive debit card deals like cashback, discounts, dining & travel deals etc.

The views expressed here are those of the authors and do not necessarily represent or reflect the views of Citibank UAE