The prospect of moving abroad and starting over is one of the most terrifying, yet exciting things a person can ever do. You will experience significant changes in your life - and not just in your address or currency! The possibilities are endless as you embark on this new journey!
While it is true that relocating is not always a joyous experience, we also know it can be stressful. It's important to take care of so many things, such as finding the right housing in the neighbourhood you love, finding a good school for your kids, finding a good gym, discovering your new favourite hotspots, getting the right bank, etc.!
Our goal is to help you check a few things off your list. We'll start by finding a bank and opening a free bank account. The right time for anyone seeking to open a bank account in the UAE is now, as opening a bank account in the UAE has become very simple.
Here are the steps to open a free bank account in UAE:
Although there are many banks available to expats in the UAE, we have provided a list of the top banks for expats across the Gulf region.
We are talking about Emirates NBD, a bank in the UAE, which created the first digital lifestyle banking app in the country and now offers free bank accounts to expats.
About Liv Bank Account:
As the first digital-only lifestyle bank and fastest-growing bank in the UAE, Liv powers your lifestyle choices and helps you keep track of your money matters all in one place. Liv is an app by Emirates NBD, one of the most innovative, modern, and trusted banking apps on the market today. It delivers around all you could possibly want from a world class bank.
Free Liv Bank accounts offer the following benefits:
1. A digital current account with instant access
2. A debit card that can be used worldwide
3. Payment tracking through online banking
4. Access to all ATMs
5. Ease of paying utility bills
6. Easy transfer of money to people
7. Online assistance 24 hours a day, 7 days a week
8. Shop online with 50% off offers
The following is a list of the requirements to open a Liv Bank account:
It is easy to open a free bank account in UAE, as we stated above. The requirements are as follows:
1. The age limit is 18 years old
2. A smartphone for installing Liv application
3. You must have a valid UAE mobile number
4. You must have a valid Emirates ID number
Note: A NOC from the Company is not required, nor is a passport or visa original required.
Cost to open Bank Account in Liv:
Liv account opening is absolutely free, no fee will be charged to your account.
Who can open a Liv Bank account:
A person who meets the above requirements, such as having a valid UAE residence visa, Emirates ID and mobile number, can become a member of this fast-growing bank in the UAE.
How to create a bank account through a mobile app:
You can create your bank account online by following the steps below
1. Download the Liv application on your smartphone by following the links below.
2. Download and install the app, then click on the signup link. To establish a bank account, click sign in once you have completed the signup process.
3. To activate your account, you'll have to scan your Emirates ID online. Once you have scanned your ID card, the bank will receive your request and contact you via SMS or call to deliver your debit card.
4. Liv app also allows you to track your account or debit card status online.
5. When the card is delivered to you, it's time to activate it. You can do that through the same app, and in case of a problem, you can contact support through the chat option in settings.
Minimum balance to open a free Liv Bank account:
In your Liv account, you should maintain at least AED 2500 as an average balance. It may look difficult, but it's not. All other banks in UAE, including Dubai Islamic Bank, HSBC Bank, NBAD, and the Commercial Bank of Dubai, demand a minimum balance of AED 3500 to AED 5000.
In this article we provide all the necessary information about opening a free bank account with liv bank in UAE. For further questions, you may visit liv bank's website.
Also Read: Here Is How To Open A Bank Account For Free In The UAE