ADCB Banking – Know your Account & How to Open a Bank Account

ADCB stands for Abu Dhabi Commercial Bank and is a bank in the United Arab Emirates. Formed in 1985 as a public shareholding corporation with limited liability. ADCB is a commercial scale bank that provides retail banking, fund management, private banking, corporate banking, commercial banking, cash flow management, investment banking, corporate financing, foreign exchange, interest rate and currency derivatives, Islamic commodities, project financing, and property management services.

 The Abu Dhabi Investment Council (ADIC), which is controlled by the Abu Dhabi government, owns 62.52 % of ADCB shares, with the rest held by various organizations and individuals. Following the mergers of Emirates Commercial Bank, Federal Commercial Bank, and Khaleej Commercial Bank, which had been created in 1975.

As it comes to opening a savings account, ADCB Bank has several possibilities. ADCB Bank offers a comprehensive savings account package, ranging from reasonable profit rates to enticing features. It also contains monetary fortunate draw offers associated with the saved account.

Customers who have a savings or current account with the ADCB bank can also apply for a zero minimum balance account. The Active Saver Account is the name of this account. The bank’s mobile app can be used to create an Active Saver account. Every month and quarterly, a million AED is granted to a fortunate draw prize winner. Other fortunate draw winners will receive AED 500,000 and AED 100,000, respectively. However, this lucky draw option is only available to consumers who have a certain savings account.

Types of Accounts

With the Offshore account being discontinued. Currently, ADCB Bank offers 9 types of accounts from which 4 are saving accounts. You can check their website (www.adcb.com)  and select the type of account that fit your needs.

  • ADCB Current Account
  • Etihad Guest Account
  • Etihad Guest Aspire Account
  • Etihad Guest Privilege Account
  • Etihad Guest Excellency Account
  • Millionaire Destiny Saving Account
  • Emirati Millionaire Saving Account
  • Active Saver Account
  • ADCB Saving and Call Account

ADCB Current Account

Features and benefits

  • You can transfer your paycheck, move money, make payments, purchase a cheque book, or get a new debit card.
  • Minimum monthly salary required to open an account AED 5000
  • For residents only
  • Free cheque book and e-statements (AED account only) (within the statement cycle)
  • AED and other major currencies are accepted.
  • Internet Banking and Mobile Banking available.

Touch Points

Touch Points will be granted if your account balance is AED 10,000 or more every month.

Documents Required

  • An original passport with a UAE residence visa (valid for more than 30 days)
  • An original Emirates ID
  • Your salary certificate

Etihad Guest Account

Features and benefits

  • It’s simple to earn Etihad Guest Miles based on the amount in your account: Earn 2 Etihad Guest Miles for every AED 1,000 you keep in your current or savings account every month (minimum monthly average balance: AED 10,000; maximum monthly average balance: AED 250,000).
  • On your first anniversary with us, earn a bonus of 500 Etihad Guest Miles.
  • When you register for ADCB Personal Internet Banking for the first time, you’ll receive a bonus of 500 Etihad Guest Miles.
  • Customers with a current account are given a cheque book and a debit card.
  • Customers with a savings account are given a debit card.

Eligibility

Only UAE residents are eligible for Current and Savings accounts, which must fulfil the Aspire relationship balance conditions outlined in the Fee Schedule.

Documents Required

  • An original passport with a UAE residence visa (valid for more than 30 days)
  • An original Emirates ID
  • Your salary certificate

Etihad Guest Aspire Account

Features and benefits

  • 5,000AED Minimum Monthly Salary For residents employed in UAE.
  • Earn 2 Etihad Guest Miles for every AED 1,000 you keep in your current or savings account every month (minimum monthly average balance: AED 10,000; maximum monthly average balance: AED 250,000).
  • On your first anniversary with us, earn a bonus of 500 Etihad Guest Miles.
  • When you register for ADCB Personal Internet Banking for the first time, you’ll receive a bonus of 500 Etihad Guest Miles.

Eligibility

Only UAE residents are eligible for Current and Savings accounts, which must fulfil the Aspire relationship balance conditions outlined in the Schedule of Fees.

Documents Required

  • An original passport with a UAE residence visa (valid for more than 30 days)
  • An original Emirates ID
  • Your salary certificate

Etihad Guest Privilege Account

Features and benefits

  • Minimum Monthly Salary OR total relationship balance criteria of AED 200,000.
  • Earn Etihad Guest Miles on your balance by opening an Etihad Guest Privilege current or savings account.
  • Earn 3 Etihad Guest Miles for every AED 1,000 you keep in your current or savings account every month (minimum average balance: AED 10,000; maximum average balance: AED 250,000)
  • On your first anniversary with us, earn a bonus of 500 Etihad Guest Miles. When you register for ADCB Personal Internet Banking for the first time, you’ll receive a bonus of 500 Etihad Guest Miles.
  • Customers with a current account are given a cheque book and a debit card.

Customers with a savings account are given a debit card

Eligibility

Current Account

UAE residents can open current accounts if they match the Privilege relationship balance conditions outlined in the Schedule of Fees.

Saving Account

Savings Accounts are open to both UAE residents and non-residents, provided they fulfil the Privilege relationship balance conditions outlined in the Schedule of Fees.

Documents Required

  • Individuals who live in the UAE and want to open a current or savings account must provide the following documents:
    • An original passport with a visa to reside in the United Arab Emirates (valid for more than 30 days)
    • a genuine Emirates ID
    • Certificate of Salary
  • Non-resident clients in the UAE must provide the following documentation to open a Savings Account:
    • original passport
    • A copy of your visit visa as well as your admission stamp page or e-gate card.
    • A three-month stamped bank statement from the customer’s current bank account is required.

A letter of introduction from an established ADCB client with a long-term connection.

Etihad Guest Excellency Account

Features and benefits

  • 500,000AED total relationship balance criteria
  • Earn 4 Etihad Guest Miles for every AED 1,000 in your current or savings account (minimum average balance: AED 10,000; maximum average balance: AED 250,000) maintained every month.
  • On your first anniversary with us, earn a bonus of 500 Etihad Guest Miles.
  • When you register for ADCB Personal Internet Banking for the first time, you’ll receive a bonus of 500 Etihad Guest Miles.
  • Customers with a current account are given a cheque book and a debit card.

Customers with a savings account are given a debit card.

Eligibility

Current Account

Only UAE residents are eligible for current accounts, which must fulfil the Excellency relationship balance conditions outlined in the Schedule of Fees.

Saving Account

Residents and non-residents can open savings accounts as long as they fulfil the Excellency relationship balance conditions outlined in the Schedule of Fees.

Documents Required

  • Individuals who live in the UAE and want to open a current or savings account must provide the following documents:
    • An original passport with a visa to reside in the United Arab Emirates (valid for more than 30 days)
    • a genuine Emirates ID
    • Certificate of Salary
  • Non-resident clients in the UAE must provide the following documentation to open a Savings Account:
    • original passport
    • A copy of your visit visa as well as your admission stamp page or e-gate card.
    • A three-month stamped bank statement from the customer’s current bank account is required.

A letter of introduction from an established ADCB client with a long-term connection.

Millionaire Destiny Saving Account

This one-of-a-kind account allows you the chance to win big cash prizes every month, including AED 1 million. Each of the ten winners will get 10,000 AED once a month. Each of the 100 winners will get 5,000 AED once a month.

Key features and benefits

  • Instant access to your money with a debit card
  • Withdrawals are not subject to a lock-in period or a penalty.
  • Profit from your savings is declared and paid out every quarter.
  • You get an extra chance in the prize drawings for every AED 1,000 you save beyond the first AED 5,000.

Emirati Millionaire Saving Account

Your opportunity to win spectacular cash prizes is only available to Emiratis. This one-of-a-kind account allows you the chance to earn cash rewards. The grand prize is 1 million AED every six months, 250,000 AED per month and 10,000 AED every working day every six months.

Key features and benefits

  • Instant access to your money with a debit card
  • Withdrawals are not subject to a lock-in period or a penalty.
  • Profit from your savings is declared and paid out every quarter.
  • You get an extra chance in the prize drawings for every AED 1,000 you save beyond the first AED 5,000.

Active Saver Account

Get closer to your goals with the ADCB Active Saver Account that earns you more on your savings, so you can accomplish your goals faster, whether you’re saving for a wedding, school tuition, a trip, or your dream house. There are a total of 5 accounts that you can open for five distinct objectives. With a maximum 0.75% amount of interest each year on AED Accounts. And maximum of 0.35% of interest each year On USD accounts, you can earn.

Key features and benefits

  • ADCB allows you to establish up to five Active Saver Accounts in minutes. Internet Banking for Individuals
  • Interest is computed daily and paid monthly, and you may earn more on your savings with tiered interest rates.
  • Available in the following currencies: AED, USD, and GBP
  • Redeem TouchPoints, pay credit card payments, and transfer payments.
  • You can manage your savings outside of work hours if you have access to the internet at any time.
  • It’s as simple as clicking a button to deposit money into your Active saving account.
  • There is less temptation to withdraw your hard-earned funds when you don’t have an ATM card or a chequebook.

Eligibility Criteria

  • Only UAE nationals and residents with a valid visa are allowed to enter.
  • You must be at least 21 years old.
  • You must first have an ADCB Current or Savings Account to start an Active Saver account.
  • An Active Saver account cannot be created in the name of a juvenile or as a joint account.

ADCB Saving and Call Account

Save for the future, but enjoy the advantages now. It provides a variety of simple and dependable ways to save and build your money. Residents working in the UAE must earn a minimum monthly income of AED 5,000  to open this account. Within the statement cycle, there are no fees for E-statements. Interest Rates for AED and USD Savings Accounts are 0.10% per annum.

Savings Account Features and Benefits

  • Residents and non-residents of the UAE can use it.
  • Available in both AED and USD.
  • An interest-bearing account with a 0.10% annual interest rate for AED and USD Savings accounts
  • On the minimum monthly balance, interest accrues monthly and is paid half-yearly on the minimum monthly balance.
  • E-statements are available for free (within the statement cycle)
  • Only AED Savings accounts are eligible for a debit card.

Call Account Features and Benefits

  • Both UAE citizens and non-residents can use it.
  • AED, USD, and other significant currencies are available.
  • Interest is calculated daily and paid monthly on the outstanding balance.
  • E-statements are available for free (within the statement cycle)

Touch Point

TouchPoints will be granted if your account balance is AED 10,000 or more every month.

Documentation Required

UAE residents:

  • An original passport with a visa to reside in the United Arab Emirates (valid for more than 30 days)
  • Your Emirates ID in its original form
  • a certificate of pay

Non-residents (Not Applicable for Aspire Segment customers):

  • Original passport
  • A copy of your visit visa as well as your admission stamp page or e-gate card.
  • A three-month bank statement from your current bank account.
  • A letter of recommendation from a current ADCB client with a relationship of more than a year.

Also Read: Thank you Coronavirus Helpers

How to open an ADCB bank Savings Account in the UAE

In the United Arab Emirates, you can open a savings account. There are three ways to create a bank account with the ADCB bank in the UAE:

  • Getting in contact with the ADCB bank’s nearest branch
  • Banking over the phone
  • Banking through the internet

By visiting the nearest ADCB Branch

The owner must travel to the country to have an account.

For a corporate account: Complete bank forms for both the company and the owner, show bank statements from the business account for the previous 6 months (if the firm is new, bank statements from the owner’s other company account), copies of current contracts with partners, office leasing contract, cash flow chart, Chart of ownership structure, etc.

For Personal Account: Show proof of identity (passport); proof of address (not older than 3 months), Resident Visa, CV, bank reference letter + bank statements for the last 6 months are required for a personal account. Note that other papers and information may be requested by the bank.

Banking through uBank

Through uBank, you may now create an account with ADCB Bank through the internet. ADCB’s new digital banking center, uBank, is revolutionizing the way you bank. You may now open an account, receive a new credit card, replace your credit or debit card, and print check leaves quickly for the first time in the UAE. This process is eco-friendly and instant.

Get an ADCB Credit Card with an introductory limit* of AED 5,000 and a cashback of AED 350 on your first statement when you walk out of uBank. Also, earn 17,000 TouchPoints* when you open an ADCB account with uBank.

Banking over the phone (Hayyak)

The Abu Dhabi Commercial Bank (ADCB) has launched ADCB Hayyak, a paperless account opening an app in the UAE. This is the smartest way to open a bank account in ADCB. Customers can create an ADCB account and obtain debit cards and cheque books without having to visit a branch or fill out any paperwork using the app “Hayyak,” which means “welcome.”

UAE citizens aged 21 and above can become ADCB clients by entering a few simple details on the app, scanning their identity documents, and uploading their signature. Customers of ADCB Hayyak can also apply for a credit card that on approval can be utilized for online transactions right away.

Banking through the internet

You can open only an Active Saver Account through the internet. It’s simple to open an Active Saver account. Follow these steps:

  • Access ADCB Personal Internet Banking by logging in.
  • On the left navigation bar, select ‘Open New Account.’
  • From the drop-down menu, choose ‘Active Saver AED’ or ‘Active Saver USD’.
  • Fill out the Active Saver application online.
  • Your account number will be generated online as a result of this.