Zand Bank
Zand Bank is the innovative digital commercial bank co-founded by retail and real estate icon Mohamed Alabbar. Engineered for tech-forward companies, it combines corporate-grade banking with digital agility.
✓ 100% Remote digital onboarding✓ Currencies: AED, USD, EUR, GBP✓ KYC Difficulty: Medium
Onboarding Turnaround
3–7 business days
Minimum Balance
25,000 AED
KYC Approval
89%
Setup
Online
Fee Structure & Tariff Schedule
Monthly Maintenance Fee AED 150/mo or free with maintained balance of AED 25,000
Minimum Monthly Balance 25,000 AED
Fall-Below Balance Penalty 150 AED/мес
Outgoing International Wire (SWIFT) 25–40 AED
Domestic UAE Wire (Local Transfer) Бесплатно / Free
Required Application Documents
Official mandatory documentation suite needed to successfully pass AML/KYC underwriting:
- ✓ UAE commercial license (Free Zone or Mainland)
- ✓ Memorandum of Association & register of members
- ✓ Emirates ID and passport of primary director
- ✓ Comprehensive business model description and expected transaction flow
- ✓ Documented Source of Funds for beneficial owners
Pros & Limitations
✓ Advantages
- + Tailor-made for tech startups, venture-backed scaleups, and fintech
- + Developer-friendly open API infrastructure
- + Fully digital submission and tracking workflow
⚠ Limitations
- − Relatively new entrant compared to historical institutions
- − Requires AED 25k balance to waive the monthly account management fee
Advisory Verdict
A powerful modern alternative for fintech innovators and venture-backed entities prioritizing API banking.
Direct Onboarding
Open Account with Zand
Our compliance officers will conduct a full preliminary audit before submitting your application to eliminate refusal risks.
Timeline: 3–7 days
Min Balance: 25,000 AED
Currencies: AED, USD, EUR, GBP
Response time: under 3 minutes
Recommended Business Types
- • Fintech innovators, Web3, and digital asset ventures
- • Venture capital funds and investment syndicates
- • High-growth tech companies requiring modern open banking APIs
Alternative Banks to Consider
Other CBUAE-regulated corporate banking alternatives with similar profiles: