Emirates Islamic Bank Business Digital

Emirates Islamic Bank was founded in 2004. It works in compliance with the Shari’a laws and has always been one of the first choice banks for customers due to its digital, easy-to-use banking services and tools. EIB is now offering Business digital package to customers, which allows businesses to make daily transactions without any limit and with minimal transaction charges. Let us know more about it:

What is Emirates Islamic Business digital banking package?

EIB Business Digital Banking Package is one of the simplest ways of executing business banking online in the UAE. EIB allows you to open a business banking account online with the Emirates Islamic Business Banking Digital package. The account offers easy maintenance of finances, simple ways of doing business by using digital banking services. It also offers convenient business transaction hours and provides you access to a broad range of financial solutions that can help you in achieving long-term goals of your organisation.

Products Offered:

Emirates Islamic Bank business digital offers two very useful business dedicated products which can make business banking even more convenient. 

1) Business Online Platform

Business online is a digital business banking platform launched to help businesses in the UAE. It manages all banking requirements on a single, secure and digitally accessible platform. It is available for all – small, medium business, large corporate and institutional client base businesses. Business online helps in cash management globally and it also helps you with trading and virtual accounting.

As one of the leading banks of UAE, Emirates Islamic Bank always took measures towards the development of the banking system in UAE and has developed this platform for the enhancement of business digitally. Emirates Islamic Bank’s business online platform is always ready to entertain the demands relating to digital business.

2) Smart Business Platform 

Smart business platform offered by Emirates Islamic Bank business digital basically focuses on doing easy and fast transactions for businesses. People can simply log in to the website after registration and can easily make all the transactions whenever they want to and wherever they want to. Transactions can be done to both national and international regions.

Emirates Islamic Smart business platform has an authorisation tracker that helps in preventing hacking or any type of scam or fraud. It also helps in the reconciliation of large organisations with multiple transactions at the same place. It combines all the transactions into one page and shows different entries on the same page. It also consists of an email notification button that will help you get notified whenever a transaction takes place, so there is no need to track different transactions. A person can also order chequebooks, reports and many more things with just a few clicks, and the bank will drop that stuff at your doorstep. 

By using the Smart business platform, one can easily verify foreign exchange rates before doing an international transaction. It provides online remittance services, which helps in making payments conveniently. 

Thus, Smart business is a very useful tool for businesses and different features provided by Emirates Islamic Bank makes it easier to carry out your day-to-day business transactions.

Why choose Emirates Islamic Bank Business Digital Package?

1) Low/Minimum charges for Online Transactions: 

Users need not pay hefty charges for every transaction; Emirates Islamic Bank Business Digital wallets allow the user to make a transaction with minimal transaction charges.

2) Digital Handling of Business Banking:

Emirates Islamic Bank business digital package lets you control your business, expand and manage it at your own pace. Digital features included in the package helps you to easily control your cash as well as manage other business-related activities.

3) Easy Accessible Banking: 

Working with Emirates Islamic Bank business digital makes it easier for you to handle your business. It also provides flexible and accessible banking at your own pace, which is free from traditional formalities and annoyance.

4) Convenient Business Transactions Hours:

Emirates Islamic Bank offers convenient business transaction hours with easy, simple and quick banking.

Benefits of Emirates Islamic Bank Business Digital Package

1) Low Transaction Cost

The business banking account provides the best solution for online transactions at a very minimal cost per transaction.

2) Minimum Balance Requirement 

When an individual opens up a bank account, they are most often required to keep a minimum amount of cash in that account. Different bank accounts have different requirements for minimum balance. With Emirates Islamic Bank, you can open an account with a minimum balance of 50,000 AED, which is comparatively low when compared with other leading banks in the market.

3) Withdrawal Limit

Emirates Islamic banking account provides a special facility of Business Debit Card with a daily withdrawal limit of AED 50,000. Thus, individuals will be able to withdraw cash up to AED 50,000 every day for their day-to-day business transactions.

4) Customer Service

Emirates Islamic bank has a good past record of customer service. It allows you to get assistance in opening a bank account telephonically or manually. They take care of their customers’ needs on a priority basis. Also, their special products are designed as per the needs of different kinds of customers. Staff and managers are generally cooperative and they make sure their customers don’t face any difficulties.

5) Comprehensive Suite of Financial Products: 

A bank’s job is to provide customers with financial services that help them to better manage their banking, so they do not need to worry about the cash they deposit in the bank. Customers can enjoy various risk-free benefits with Emirates Islamic banking facilities and enjoy hassle-free banking.

Eligibility Criteria for Emirates Islamic Bank Business Digital Package

Following is the eligibility criteria for Emirates Islamic Bank Business Digital package:

1. Monthly credit balance should be of minimum 10,000 AED.

2. Service is available only to new customers of the bank. Old customers won’t be able to access this package.

3. A person must have a business debit card.

This debit card will be issued to only those members who want single signature authorization, i.e. only one person will be allowed to have signature verification. Every time a transaction is processed, only that signature will be considered. Multiple people won’t be allowed for signature verification in Emirates Islamic Bank Business Digital account.

Note: If a person is unable to fulfil any of the above conditions, then he/she will have to pay AED 300 for them to be eligible for Emirates Islamic Bank Business Digital account.

Documents required for applying in EIB’s business digital account

1) Legal documents of the business

● Copies of passports of all the company owners

● Registration papers of the company

● Business or Trade License

● Chamber of commerce certificate

● Article of Association (AOA): It is a form of a document that specifies the regulations for a company’s operations and defines the company’s purpose. The document lays down rules and regulations for an organisation and specifies how tasks are to be accomplished within the organisation, including the process for appointing directors and the handling of financial accounts.

2) Audited/in-house financial statements of 3 years

3) Bank statements of last 12 months

4) Facilities request letter

5) Any other document as per the requirement of the bank

FAQs

Q1: Can I convert my existing package to EIB’s Business Digital account package?

Ans: Yes, any of your existing accounts can be converted to the business digital account package. You can even hold both accounts simultaneously by simply applying for another account. 

Q2: How can I convert my existing account to EIB’s Business Digital account package?

Ans: Your current account package can be easily converted in a single visit to the nearest branch.

Q3: What are the documents required to convert my account to a digital business account?

Ans: Following are the documents required to convert your account to a digital business account:- 

• Trade license
• Memorandum of Association (MOA) 
• Identity documents of all the partners
• Stamp of the company

Q4: How can I make changes in my current business digital package?

Ans: You may contact Emirates Islamic Bank’s call center on 04-3160065 or you can visit a branch nearby to make the required changes.