Everything You Need to Know About Mashreq Happiness Account

Mashreq Bank, a renowned name in the banking sector, has established itself as a trusted financial institution with a broad customer base. With its unwavering commitment to excellence, Mashreq Bank has garnered numerous accolades for its innovative banking products and services.

Among its impressive array of offerings, the Mashreq Bank Happiness Account shines as a standout option for those seeking a joyful and fulfilling banking experience. This unique account goes beyond conventional banking by prioritising customer satisfaction and happiness. It provides a seamless and personalised banking journey, catering to the diverse requirements and aspirations of individuals.

Features and Benefits of Mashreq Bank Happiness Account

Mashreq Happiness Account is a current bank account with the following features and benefits -

• A joining bonus of up to AED 2,000 upon opening this account and transferring your salary. The bonus is based on the monthly income deposited into Mashreq Bank Happiness Account -

Monthly Salary Range	Joining Bonus (for Online Accounts)	Joining Bonus (for Non-online Accounts)
AED 10,000 to AED 24,999	AED 500	AED 200
AED 25,000 to AED 49,999	AED 1,000	AED 500
AED 50,000 and more	AED 2,000	AED 1,500

Note - The joining bonus depends on your first salary and is credited across 12 EMPs (equal monthly payments). The bonus can be reversed if you do not transfer your salary for 2 continuous months (within 12 months of the first salary transfer). 

• Get Salaam Points as a reward - When you make  5 or more online or mobile transactions every month, you are rewarded with Salaam points worth AED 25. These points can be redeemed when buying travel tickets or at the bank’s partnered retail outlets and brands. 
• Complimentary international fund transfer facility
• Get the most from the Mashreq VISA Debit Card along with VISA MENA offers in collaboration with The Entertainer. Here are the benefits that you can get -
  • 2-for-1 deals on food, shopping, and entertainment
  • Discount across 5,000 restaurants
  • Travel discounts
• No minimum balance required if you transfer your salary of at least AED 10,000 into the account. Otherwise, a minimum balance of AED 3,000 is mandatory.
• Instantly open the account using your Emirates ID

Interest Rate Applied to Mashreq Happiness Account

Interest rate is not applicable to Mashreq Bank Happiness Account. 

Fees and Charges Levied on this Mashreq Bank Current Account

Tabled below are the fees and charges applicable to this Mashreq Bank account -

Charges	Amount
Initial Deposit	AED 3,000 or equivalent in a foreign currency account
Fall Below Charge	AED 26.25 per month or equivalent for a foreign currency account
Additional Transaction Charges	AED 10.50
Account Closure Charges (if closed within 6 months of closing)	AED 105
Minimum Monthly Average Account Balance	AED 3,000
Number of Free Transactions other than ATM and Online Transactions	6 per month

Eligibility Criteria to Apply for Mashreq Bank Happiness Account

Given below are the key eligibility requirements that you need to meet to apply for Mashreq Happiness Account -

• Minimum Monthly Income - AED 10,000
• Nationality - UAE Nationals or UAE residence visa holders
• Age - 18 years and above; minor can apply with a guardian 

Documents Needed to Apply for Mashreq Bank Happiness Account 

The following is the list of mandatory documents to apply for Mashreq Bank Happiness Account -

• A valid UAE residence passport 
• A valid Emirates ID
• A completely filled-in digital application form

How to Apply for Mashreq Bank Current Account in the UAE?

Here’s how you can apply for a  Mashreq Bank Happiness Account in the UAE -

Via Paisabazaar UAE

You can easily open a Mashreq Bank Happiness Account via Paisabazaar.ae at the convenience of your home or office space (or anywhere else with an internet connection!). This is a third-party aggregator website that helps you compare and select the best bank accounts from the major banking institutions in the country. Moreover, this online platform is easy to use. 

To apply for a Mashreq Happiness Account, simply click on the ‘Bank Accounts’ tab on the homepage or select the same option from the ‘Banking Products’ tab on the menu bar. You will be navigated to the lead form. Fill it out promptly with accurate details. Once done, click on the ‘View Quotes’ tab. 

You will be directed to our bank account quotes page. Here, you can go through the features and benefits that Mashreq Bank Happiness Account has to offer. Once done, simply click on the ‘Apply Now’ tab and follow the instructions from thereon. 

Via Mobile Banking

You can easily open a Mashreq Bank Happiness Account via mobile banking - all at your fingertips. For this, download the app, enter your login credentials, and follow the instructions thereon. 

Terms and Conditions Applied to Mashreq Happiness Account

Keep in mind the following terms and conditions when applying for this current account in the UAE -

• If you overdraw from your Mashreq Bank current account, the bank will charge the existing interest rate per annum to the Happiness Account. The interest will be computed on a monthly basis.
• You are not paid any interest on this current account in the UAE. 
• If more than 4 cheques that you issued from your current account, in a consecutive period of 12 months, are returned unpaid because of a lack of funds in your Mashreq Happiness Account, the bank, without any alert will close the current account. You will be liable to pay for all the remaining cheques that are linked to your account immediately. 
• All the benefits offered to the Mashreq Happiness Account are applicable only after a salary transfer of AED 10,000 or above to a salary account with the bank. 
• Your existing salary transfer account will automatically be upgraded to a Mashreq Bank Happiness Account as per your regular salary. 
• Mashreq Bank has the right to debit your account and regain the Joining Bonus provided to your Mashreq Happiness account in the following situations -
  • Your current salary transfer account has been closed and a new Mashreq Happiness Account has been opened. 
  • You stopped the salary transfer to Mashreq Bank Happiness Account in any month within the 12-month period of making the 1st salary transfer after you opened this account.
• To gain Salaam Points, you need to make 5 distinctive utility bill payments like DU, Etisalat, Salik recharge, Water and Electricity bills, and Card Payment; or international remittances in a month via Online or Mobile banking. This benefit is offered to both new and current salary transfer customers only if there is a minimum salary transfer of AED 10,000 during the calendar month. 
• The bank has the right to change the benefits, pricing, eligibility criteria, or any other rules guiding the functioning of Mashreq Bank Happiness Account at any point. These changes will be effective after sufficient notice. 

Mashreq Happiness Account Frequently Asked Questions