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is a bank account that’s used only for business transactions rather than personal finances. It can be opened in the name of the business, allowing payments to be made and received using the business’s name.

Business accounts in the UAE are used for tracing the money owed to the business as well as creditors, cash balance, and payroll given to the employees. There are 3 types of Business Setup in UAE, and each of them is required to open a different type of corporate bank account. 

Business bank accounts holders can often access to the below services :

  • carrying out transactions in foreign currencies
  • carrying out credit checks on other businesses and suppliers
  • processing salary payments

Business bank accounts are typically available to sole traderspartnershipslimited companies and other business types. Types of business bank accounts include business current accounts and business savings accounts.

business bank account in UAE helps the owners of the business to track their expenses and manage their funds.