Dubai: As long as you have cleared all your dues with the bank, closing a bank account in the UAE is a fairly straightforward procedure.
It doesn’t matter what bank you deal with, there are certain processes that are standard. Here is what you need to do to close your account with a bank when moving out of the UAE. Moreover, it is always a good idea to call your bank’s customer service number to find out if there are any requirements that you need to know for the account closing process to go smoothly.
It is almost always a requirement that you visit a bank branch to request an account closure.
Bring the following documents with you when you visit a branch:
- A photo ID
- Associated credit and debit cards
- Cheques and chequebook that are unused
1. Empty your account
Cash can be withdrawn from a teller at the branch or a bank transfer can be requested to another account. Once the account is empty, request that you need to close the account.
2. Fill out the closure form
The account closure form requires basic information such as the type of bank account you have with the bank and the reason behind the closure. In some banks, customers can also request the transfer of funds in the account while filling out the form. You can then submit this form along with your ID at the customer relationship desk.
3. Submit all related cards and cheques
Unused cheques and debit cards must be returned to the bank upon account closure. In the case of inability to submit, the remaining checks and the debit card will be deactivated as part of the account closure process, says Emirates NBD.
Upon closing the account, you will receive an email or mobile message from the bank informing you of the closure. In case these messages are not automatically sent to you, you can also request a confirmation.
You can request clearance or a no-liabilities letter at this stage. It would be ideal if you were to do so, especially if you were leaving the UAE.
Customers must submit a signed request form to Emirates NBD with the fee amount saved in their account to receive a settlement of liabilities letter. The bank branch may, however, require other documents on a case-by-case basis.
And that’s it! In order to close your account within 3 to 5 working days, it is best to initiate the process a week before you leave the UAE and ensure you have enough cash on hand to complete all the necessary processes.