Licensed Digital Banks: Who Qualifies and What You Get
Learn how to access mobile-first banking services in the United Arab Emirates and ensure your money is safe with a licensed provider.
Licensed Digital Banks are mobile-first banking services designed to handle your daily transactions through digital apps.
Who it's for
This service is available to all residents living in the United Arab Emirates.
What you get
You get access to banking services primarily through your mobile device. These digital platforms are built to manage your daily transactions, helping you move money and manage your finances on the go.
What it costs you
There is no single fixed price for these services. The costs associated with using these accounts vary depending on the specific type of account you choose to open.
The catch to know
Because these banks operate digitally, you must verify that the specific app or provider you are using is officially licensed by the UAE Central Bank to ensure your funds are protected.
How to apply
- Research different digital banking apps available in the country.
- Confirm the provider holds a valid license from the local central bank.
- Download the official app for your chosen bank.
- Follow the in-app instructions to complete your registration.