# Al Masraf Business Account

**Published:** 2024-12-27T12:24:41.971Z
**Updated:** 2026-07-30T16:30:48.663Z
**Author:** Ruchi Gohri
**Original Url:** https://www.paisabazaar.ae/bank-accounts/articles/al-masraf-business-account/

If you’re an entrepreneur seeking top-notch banking services, the Al Masraf Business account might be the one for you. This account provides easy access to funds, streamlined transactions, and comprehensive financial management tools.

Other features such as competitive fee structures, digital banking services, and convenient cash withdrawal facilities are also available. Al Masraf helps its clients manage their operations seamlessly. Let’s delve into the details of this bank account.

## Features of the Al Masraf Business Bank Account

The following are the two types of [Al Masraf](https://www.paisabazaar.ae/bank-accounts/al-masraf-bank-accounts/) business accounts in the UAE:

| Al Masraf Current Account | Al Masraf Savings Account |
| --- | --- |
| Cash deposit and withdrawal facility: Easily made through a debit card and/or chequebook<br>Available in multiple currencies: USD, AED, GBP, and EUR<br>The debit card and chequebook are available only in AED currency<br>Open a joint account with one first-degree relative | The account lets you earn interest on your available savings<br>Available in several currencies: EUR, GBP, USD, and AED |

## Eligibility Criteria for Al Masraf Business Account

We have mentioned the eligibility requirements required for opening a [business bank account in UAE](https://www.paisabazaar.ae/bank-accounts/business-accounts-act/) at Al Masraf:

| For Al Masraf Current Account | For Al Masraf Savings Account |
| --- | --- |
| Minimum Age- 21 Years<br>Nationality- UAE National and Residents | Minimum Age- 18 Years<br>Nationality- UAE Nationals, Residents, and Non-residents |

  

## Al Masraf Business Bank Account- Documents Checklist

You will need the following documents for opening both savings and current business accounts:

| For Al Masraf Current Account | For Al Masraf Savings Account |
| --- | --- |
| Emirates ID | Emirates ID |

**Note:** Additional documents may be required.

## Open Bank Account in UAE with Al Masraf

[Open a bank account](https://www.paisabazaar.ae/bank-accounts/) with Al Masraf via online and offline channels. For online applications, download the bank’s app on your device and follow the prompts. Alternatively, to apply offline, visit the branch in person or call the bank officials.

  

## Al Masraf Business Account- Fees & Charges

Tabled below are the key fees and charges of the Al Masraf Business bank account:

| Type of Fee | Charges |
| --- | --- |
| Maintenance Fee for Current Account (Quarterly) | AED 100 |
| Maintenance Fee for Savings Account (Quarterly) | AED 150 |
| Current and Savings Account Closure within 6 Months | AED 250 |
| Savings Account Closure within 1 Year | AED 500 |
| Cheques Returned Unpaid | AED 300 |
| Special Clearing Charges | AED 205 |
| Additional Chequebook | AED 1 (Per leaf) |
| Non-Collection of Chequebook within 1 Month | AED 50 |
| Issuance of Supplementary ATM/ Debit Card | AED 25 |

## Frequently Asked Questions

### Are non-resident individuals eligible to open an Al Masraf Business Current account?

No, UAE non-residents are not eligible to open an Al Masraf current account.

### It’s been 3 months since I’ve opened a business current account at Al Masraf. How much fee does the bank charge for closing the account?

You are liable to pay an amount of AED 250.

### In which currencies can I open an Al Masraf business savings account?

The bank account is available in EUR, GBP, USD, and AED currencies. 

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### Ruchi Gohri

Senior Content Writer

Senior Content Writer | She has a penchant for writing and with over 5 years of experience, she plays around with words elegantly, crafting simple content for all to read. In her free time, she loves her couch either to read or catch on to her sleep.

[Read more ⌄](https://www.paisabazaar.ae/author/ruchi-gohri/)