# Everything You Need to Know About Mashreq Bank Business Accounts in UAE

Mashreq Bank is one of the oldest and most trusted financial institutions in the UAE. Its business banking products are designed for a wide range of customers, including freelancers, startups, SMEs, and larger corporates.

Mashreq offers both traditional business banking accounts and digital-first NeoBiz accounts. The right option depends on your minimum balance capacity, transaction volume, need for branch services, and whether you require relationship manager support.

## Mashreq Traditional Business Accounts

Mashreq’s traditional business accounts include Business First, Business Premium, and Business Platinum.

### Business First

Business First is best suited for startups and small businesses that need a reliable business bank account with manageable minimum balance requirements.

Key features:

- Minimum monthly average balance: AED 50,000, or equivalent in other currencies.
- Non-maintenance fee: AED 400 if the minimum monthly average balance is not maintained.
- Digital banking fee: AED 35.
- Teller transaction fees:
  - 0–5 transactions per month: Free.
  - 6–20 transactions per month: AED 20 per transaction.
  - More than 20 transactions per month: AED 40 per transaction.
- Cheque book:
  - One cheque book is free.
  - From the second cheque book onward: AED 3 per leaf if requested at a branch.
  - No fee if requested online.
- Local AED transfers within the UAE:
  - Online: AED 3.
  - Branch: AED 30.
- International or local non-AED transfers:
  - Online: AED 35.
  - Branch: AED 70.
- Relationship manager: Not assigned.

### Business Premium

Business Premium is best suited for established SMEs that handle higher payment volumes, local and international transfers, or require trade finance.

Key features:

- Minimum monthly average balance: AED 150,000, or equivalent in other currencies.
- Non-maintenance fee: AED 550 if the minimum monthly average balance is not maintained.
- Digital banking fee: AED 35.
- Teller transaction fees:
  - 0–7 transactions per month: Free.
  - 8–20 transactions per month: AED 20 per transaction.
  - More than 20 transactions per month: AED 40 per transaction.
- Cheque book:
  - One cheque book is free.
  - From the second cheque book onward: AED 3 per leaf if requested at a branch.
  - No fee if requested online.
- Local AED transfers within the UAE:
  - Online: AED 3.
  - Branch: AED 20.
- International or local non-AED transfers:
  - Online: Free.
  - Branch: AED 60.
- Relationship manager: Available.

### Business Platinum

Business Platinum is best suited for larger SMEs, corporates, or trading companies with high transaction volumes.

Key features:

- Minimum monthly average balance: AED 350,000, or equivalent in other currencies.
- Non-maintenance fee: AED 650 if the minimum monthly average balance is not maintained.
- Digital banking fee: No additional charge.
- Teller transaction fees:
  - 0–10 transactions per month: Free.
  - 11–20 transactions per month: AED 20 per transaction.
  - More than 20 transactions per month: AED 40 per transaction.
- Cheque book:
  - One cheque book is free.
  - From the second cheque book onward: AED 3 per leaf if requested at a branch.
  - No fee if requested online.
- Local AED transfers within the UAE:
  - Online: Free.
  - Branch: AED 20.
- International or local non-AED transfers:
  - Online: Free.
  - Branch: AED 40.
- Relationship manager: Available.

## Mashreq NeoBiz Accounts

NeoBiz is Mashreq’s mostly digital business banking offering. It includes Lite and Prime accounts.

### NeoBiz Lite

NeoBiz Lite is best suited for freelancers and solo entrepreneurs who want a simple, fully digital business account with low initial transaction volume.

Key features:

- Minimum monthly average balance: Not required.
- Non-maintenance fee: Not applicable.
- Monthly maintenance fee: AED 200.
- Digital banking fee: No additional charge.
- Teller transaction fees: No teller transaction fees apply.
- Cheque book:
  - One cheque book is free.
  - From the second cheque book onward: AED 1 per leaf.
- Local AED transfers within the UAE:
  - First 9 transfers are free.
  - AED 2 per transfer thereafter.
- International or local non-AED transfers:
  - First transfer is free.
  - AED 20 per transaction thereafter.
- Relationship manager: Not assigned.

### NeoBiz Prime

NeoBiz Prime is best suited for growing small businesses and startups that expect moderate monthly transactions.

Key features:

- Minimum monthly average balance: AED 50,000.
- Non-maintenance fee: AED 200 per month if the minimum monthly average balance is not maintained.
- Monthly maintenance fee: None.
- Digital banking fee: No additional charge.
- Teller transaction fees: No teller transaction fees apply.
- Cheque book:
  - One cheque book is free.
  - From the second cheque book onward: AED 1 per leaf.
- Local AED transfers within the UAE:
  - First 11 transfers are free.
  - AED 2 per transfer thereafter.
- International or local non-AED transfers:
  - First transfer is free.
  - AED 50 per transaction thereafter.
- Relationship manager: Not assigned.

## After Opening a Mashreq Business Account

Once your Mashreq business account is active, it is important to maintain proper accounting and bookkeeping for your Dubai business. Accurate records help businesses stay financially organized and support UAE tax compliance.

BCL Globiz provides one-stop support for businesses in the UAE, including accounting, VAT filings, and corporate tax return filings.