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Wio Digital Business Banking

The Entrepreneurial Nation, an initiative by The UAE Ministry of Economy, is proud to collaborate with Wio Bank, the region’s first platform bank, to provide enterprises access seamless banking account opening and banking services.

In September 2022, Wio Bank marked its official launch in the UAE by bringing three key capabilities to the country, namely Digital Banking apps, Embedded Finance and Banking-as-a-Service solutions. Wio Bank’s first digital banking application, Wio Business, is designed to provide start-ups, freelancers, and SMEs access to banking services seamlessly while giving them the opportunity to move forward with innovative beyond-banking services.

With this partnership, Wio Bank will extend digital business banking services to the members of The Entrepreneurial Nation through the Wio Business banking app.

UAE based enterprises will be able to open an account seamlessly and enjoy free business banking for 3 months.

Benefits of Wio Business:

  • Fast and digital account opening

  • Zero hidden charges

  • No minimum balance

  • AED and USD accounts

  • Smart payments solutions

Participants will Receive

  • 3-month free Essential subscription plan (customers will be charged AED 99 per month thereafter)

  • Digital bank account inclusive of a debit card, cheque book and virtual debit cards for expense management

  • AED and US Dollar accounts with a guaranteed conversion rate of 3.673 on AED to USD transfers

  • Free salary payments with WPS (One file for free per month until June 30, 2023)

  • 2 free additional users on the account

  • Smart business solutions, including automated invoicing, Stripe payment links, Magnati POS machines, and much more

Eligibility Criteria

  • legally registered entity in the UAE (free zone or mainland), not an offshore license

  • Signatory must be a UAE resident

  • Signatory must have a UAE mobile number to sign up

  • Applicants must be singly authorized to open and operate the bank account

Note: business types that cannot be supported:

  • Companies with multiple signatories required to operate a bank account

  • Jewelry & bullion trading

  • Money exchange

  • Cryptocurrency exchanges

  • Unlicensed financial institutions

  • Auction houses or antiques

  • Trusts or funds

  • Gambling

  • Charities

Interested to avail this offer?

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