An account is opened through the ADCB mobile app in a few minutes based on biometric data and facial recognition technology.Tourists receive a digital debit card that can be used for non-cash payments throughout the UAE, ATM withdrawals, and online purchases. Previously, it was much more difficult for non-residents to open a bank account in the country and required a package of documents.
The account is available for a limited period until departure from the country, the expiration of the visa, or a maximum of six months with a seven-day grace period.The monthly service fee is 25 dirhams UAE (about $6.8 USD), but is not charged with a minimum balance of 2500 dirhams. For international transfers, you must register a foreign account in your name.
The initiative aims to develop a cashless economy and strengthen the UAE's position as an international financial and tourism hub.According to Saif Humaid Al Daheri, Assistant Governor of the UAE Central Bank, the system integrates tourists into the national payment ecosystem, including the national payment scheme Jaywan and the instant payment platform Aani.
Source: Economy Middle East, ADCB
