Dubai Banking & Finance Guide
Managing Your Money in the UAE
15 min read • Updated December 2025
Everything you need to know about banking, credit cards, loans, and money management in Dubai. From opening your first account to investing and sending money home.
Banking in Dubai at a Glance
Why You Need a UAE Bank Account
Receive Salary
UAE law requires salaries to be paid through the Wage Protection System (WPS). You need a UAE bank account to get paid.
Pay Rent
Dubai's rental market runs on post-dated cheques. You need a UAE bank account with a cheque book to rent an apartment.
Build Credit
Your UAE banking history builds your credit score, which you'll need for credit cards, loans, and even some job applications.
Where to Start?
Find the right guides based on where you are in your banking journey.
New to Dubai
Setting up banking
Just arrived or arriving soon? Start with the essentials—opening an account and choosing the right bank.
Managing Money
Day-to-day banking
Already banked? Optimize your finances with credit cards, transfers, and money management tips.
Growing Wealth
Loans & investing
Ready for the next step? Explore loans for major purchases and investment options for expats.
Quick Bank Comparison
Overview of the main banks for expats in Dubai.
| Bank | Min Balance | App Rating | Branches | Best For |
|---|---|---|---|---|
| Emirates NBD | AED 3-5K | 4.5/5 | Most | Most expats |
| ADCB | AED 3-5K | 4.7/5 | Many | Tech-savvy |
| Mashreq | AED 3-5K | 4.4/5 | Good | Digital banking |
| FAB | AED 5-10K | 4.3/5 | Many | Premium/wealth |
| RAKBANK | AED 2-3K | 4.0/5 | Fewer | Budget-conscious |
See our detailed Best Banks guide for full comparison including fees and features.
Getting Started
Essential guides for setting up your banking in Dubai.
How to Open a Bank Account in Dubai
Step-by-step process, required documents, and tips for a smooth application.
Best Banks in Dubai for Expats (2025)
Comparing Emirates NBD, ADCB, Mashreq, and more—find the right bank for you.
Dubai Credit Cards Guide
Best credit cards for rewards, cashback, and benefits. Requirements explained.
Money Management
Practical guides for managing your money in the UAE.
Sending Money Home from Dubai
Best transfer options: banks vs exchange houses vs apps. Compare fees and rates.
UAE Credit Score Explained
How to check your AECB credit score, why it matters, and how to improve it.
Currency & Money Tips for New Arrivals
AED basics, tipping culture, payment methods, and practical money advice.
Financing & Investing
Guides for loans, investments, and growing your wealth in Dubai.
Getting a Loan in Dubai
Personal loans, car loans, and mortgages. Requirements, rates, and comparison.
Investing in Dubai
Investment options for expats: stocks, ETFs, real estate, and more.
Crypto in Dubai
Regulations, licensed exchanges, and how to legally trade crypto in the UAE.
UAE law requires employers to pay salaries through the Wage Protection System (WPS), which means you must have a UAE bank account to receive your salary. Open your account as soon as you have your Emirates ID—your employer will need your IBAN to set up salary transfers.
Frequently Asked Questions
Common questions about banking in Dubai.
It's difficult but possible. Most UAE banks require a salary certificate or employment letter. Some banks accept proof of other income (investments, rental income). Freelancers need a trade license. Digital banks like Mashreq Neo have lower requirements but limited features.
Account approval: same day to 3 days. Debit card delivery: 5-7 business days. Cheque book: 7-14 business days. Online banking: usually immediate. The process is faster if you have all documents ready and your employer is well-known to the bank.
Standard requirements:
- Valid passport (original + copy)
- UAE residence visa (valid)
- Emirates ID (original + copy)
- Salary certificate from employer
- Proof of address (Ejari or utility bill)
Some banks may ask for additional documents like home country bank statements.
Digital banks like Mashreq Neo and Liv. (by ENBD) generally have the lowest fees. For traditional banks, salary accounts often have zero monthly fees if your salary is transferred there. RAKBANK is known for lower minimum balance requirements. Always compare total costs including ATM fees, international transfer fees, and card charges.
Yes, you can have accounts at multiple banks. Many expats keep a salary account at one bank and a savings or credit card account at another. There's no legal limit on the number of accounts. Having multiple accounts can help you access different benefits and services.
Options include: bank transfers (convenient but higher fees), exchange houses (Al Ansari, UAE Exchange—competitive rates), and apps (Wise, Remitly—often best rates). Exchange houses are typically 30-50% cheaper than banks for remittances. Always compare the total cost including fees and exchange rate markup.
Related Guides
More resources for managing your life in Dubai.
Not Sure Where to Start?
If you're new to Dubai, start with our guide on opening a bank account. It covers everything you need to know to get set up quickly.
Open Bank Account Guide