Wio Bank · digital business account

Wio Business Essential

AED 99/month

Fully digital business account: multi-currency IBAN (AED, USD, EUR, GBP), invoicing, payroll and virtual cards. Fastest realistic onboarding for most new companies.

Apply with Wio Bank Compare business accounts Wio Business Essential vs RAKBANK RAKstarter

Is Wio Business Essential worth it?

free-zone companies: Wio Business Essential onboards free-zone entities on its published criteria.
startups watching fixed cost: Wio Business Essential asks for no minimum balance and AED 99/mo — workable before revenue is steady.
founders outside the UAE: Wio Business Essential onboards fully remotely — no branch visit required.
import-export businesses: Wio Business Essential covers AED, USD, EUR, GBP — wide enough for regular foreign-currency flows.

Pricing

Monthly fee: AED 99
Minimum balance: AED 0

Eligibility

Not suitable for: businesses that need cash deposits, cheque clearing or branch services — Wio is app-only. Sole proprietors without a UAE trade licence, and businesses wanting a zero-fee account (Essential runs AED 99/month)

Business operations

Approval time: 2–3 days
Free-zone companies: Yes
Branch visit: Not required
Multi-currency: AED, USD, EUR, GBP

How onboarding goes

Application: Submit the request through the provider’s channel and upload documents
Compliance review: KYC checks and document verification
Decision: Typical timing: 2–3 days
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.

Essential AED 99/mo (VAT incl.): 2 users, 10 free local transfers, SWIFT at AED 52.50. Grow AED 249/mo: unlimited local transfers, 3 salary files, up to 3% interest. Per wio.io/business, verified Oct 2026.

Verified answers

How much does a Wio Business account cost?

Wio Business has two subscription plans. Essential is AED 99 per month (VAT included); Grow is AED 249 per month. There is no minimum balance requirement on either plan.

Source: wio.io · verified2026-10-15

What do Wio Business transfers cost?

On Essential, the first 10 local transfers each month are free (AED 1.05 each thereafter) and SWIFT international transfers cost AED 52.50. On Grow, local transfers are unlimited and free, and SWIFT costs AED 26.25.

Source: wio.io · verified2026-10-15

What do Wio Business cards cost?

The first physical card is free with no annual fee; a replacement costs AED 26.25 (waived for eligible cases such as ATM capture or reported fraud). Virtual cards are free to create and delete, with up to 5 new cards per day and a maximum of 99 active per account. A joint signatory debit card costs AED 49 per signatory.

Source: wio.io · verified2026-10-23

Does Wio Business offer credit?

Wio Business Credit offers 0% interest for up to 60 days; rollover interest is 3.45% per month, the late fee is AED 199 including VAT, and card cashback is 2% up to AED 2,000 per month.

Source: wio.io · verified2026-10-15

How long does Wio Business onboarding take?

Wio advertises a fully digital process and getting up and running in 3 working days, with 24/7 human support.

Source: wio.io · verified2026-10-15

What extra fees does Wio Business charge?

FAB ATM withdrawals are free; other UAE bank ATMs cost AED 2.10 per withdrawal, GCC ATMs AED 6.30, and international ATMs AED 21 plus a 2% foreign-exchange fee (2% also applies to international card transactions). Physical bank letters cost AED 105 (digital copies are free), a paper statement costs AED 26.25 per 3-month period, and an expired trade licence is charged AED 210 per month starting 60 days after expiry.