What documents do I need to open a bank account?

Valid Emirates ID and residency visa. Some banks also ask for salary certificate or tenancy contract.

How long does an account closure take?

Most banks issue a closure letter within five working days after clearing all dues.

Can I transfer more than 100,000 AED in one day?

Yes, but you must provide source-of-funds documents and expect a two-day processing time.

UAE Central Bank Rules Every Expat Should Know

Opening and Maintaining a Bank Account

Every expat needs an Emirates ID and valid residency visa to open a personal account. Banks must complete a full KYC check through the UAE Central Bank system before activation. Minimum opening balances range from 3,000 to 10,000 AED depending on the bank. You must maintain the balance or pay monthly fees of 25 to 100 AED.

International Money Transfers

The Central Bank caps same-day outward transfers at 100,000 AED without extra documentation. Larger amounts require source-of-funds proof and can take up to two working days. Fees average 75 to 150 AED plus the receiving bank charge. Always request the exact exchange rate before confirming.

Account Closure Process

To close an account you must clear any overdraft or loan balance first. Submit a written request at your branch or via the bank app. The bank issues a closure letter within five working days and returns any remaining balance by transfer or manager cheque. Keep the letter for your records when you leave the UAE.

Dispute Resolution Steps

If you disagree with a transaction, notify the bank within 30 days. The bank must investigate and reply within 15 working days. If unsatisfied, file a complaint through the Central Bank’s Sanadak platform. The process is free and decisions are usually issued within 30 days.

Reporting Requirements for Large Cash Movements

Carrying or transferring 40,000 AED or more in cash requires a declaration at airports and land borders. Banks automatically report any cash deposit above 40,000 AED to the Central Bank. Keep receipts and explanations for any large cash activity to avoid delays.

Changes to Digital Banking Rules in 2026

From January 2026 the Central Bank requires all banks to offer instant peer-to-peer transfers up to 10,000 AED without fees during business hours. Two-factor authentication via the UAE Pass app is now mandatory for all outward transfers above 5,000 AED. Check your bank app for the latest security prompts.

Ask Tovi for more

Tovi knows current 2026 UAE rules, fees, and processes. Ask anything. Ask Tovi free →

Got more UAE questions?

Tovi knows current 2026 UAE rules, fees, and processes. Ask anything — visas, banking, housing, schools. Ask Tovi free →