FAB · business account
FAB Business Basic
Multi-currency business account (AED, USD, GBP, JPY, EUR) from the UAE’s largest bank — AED 250/month below a AED 10,000 average balance.
Is FAB Business Basic worth it?
- free-zone companies: FAB Business Basic onboards free-zone entities on its published criteria.
- startups watching fixed cost: FAB Business Basic requires a AED 10,000 minimum balance — heavy for an early-stage company.
- founders outside the UAE: FAB Business Basic requires a branch visit — plan to be in the UAE for onboarding.
- import-export businesses: FAB Business Basic covers AED, USD, GBP, JPY, EUR — wide enough for regular foreign-currency flows.
Pricing
- Monthly fee
- AED 250
- Minimum balance
- AED 10,000
Eligibility
- Not suitable for
- businesses that cannot maintain the AED 10,000 minimum balance or want zero monthly cost — FAB Basic is a traditional-bank product. Companies needing digital-only onboarding and API-connected accounting
Business operations
- Approval time
- 1–3 weeks
- Free-zone companies
- Yes
- Branch visit
- Required
- Multi-currency
- AED, USD, GBP, JPY, EUR
How onboarding goes
- Application: Submit the request through the provider’s channel and upload documents
- Compliance review: KYC checks and document verification
- Branch visit: In-person visit for an authorised signatory
- Decision: Typical timing: 1–3 weeks
- Go live: Access activated and the product is live
Documents you'll typically need
- Valid UAE trade licence (mainland or free zone)
- Memorandum and Articles of Association
- Passports and Emirates IDs of shareholders and authorised signatories
- UBO (ultimate beneficial owner) declaration
- Office tenancy contract, Ejari or flexi-desk agreement
- Recent invoices or contracts for new companies; 6–12 months of bank statements for operating businesses
Typical pack for this category — the provider confirms the exact list on application.
Not for you if…
- You want fully remote onboarding — a branch visit is required.
- You cannot hold the required AED 10,000 minimum balance.
AED 250/month applies when the monthly average balance falls below AED 10,000; first cheque book free. Verify the current schedule of charges.
Verified answers
What minimum balance does a FAB business account require?
FAB’s business-banking fee table shows minimum monthly average balances of AED 10,000 / 250,000 / 500,000 depending on the package, with fall-below fees of AED 100 / 350 / 500 per month. The entry package also carries a AED 250 monthly maintenance fee.
Source: bankfab.com · verified
What other fees does FAB charge businesses?
The schedule lists an account-closure fee of AED 150 within six months (AED 250–500 on higher tiers), a AED 400 trade-licence expiry fee, 1% on foreign-currency cash deposits/withdrawals, and teller transactions free up to a monthly allowance then AED 10 each. Monthly statements are free; IBAN, reference and liability letters cost AED 100–300 + 5% VAT.
Source: bankfab.com · verified
Frequently asked questions
Is FAB Business Basic worth it for free-zone companies?
Yes — FAB Business Basic onboards free-zone entities on its published criteria.
Is FAB Business Basic worth it for startups watching fixed cost?
No — FAB Business Basic requires a AED 10,000 minimum balance — heavy for an early-stage company.
Is FAB Business Basic worth it for founders outside the UAE?
No — FAB Business Basic requires a branch visit — plan to be in the UAE for onboarding.