Overview
Mashreq NeoBiz, at a glance.
Mashreq NeoBiz is a bank headquartered in the United Arab Emirates, regulated by Central Bank of the UAE, Hong Kong Monetary Authority, PRA and FCA. Business accounts cost from AED 99 a month. Opening an account takes 3–5 days. At least one signatory must live in the UAE.
Mashreqbank PSC is a licensed bank in the UAE, regulated by the Central Bank of the UAE.
Why businesses pick Mashreq NeoBiz
- A licensed UAE bank, opened online with no initial deposit
- Free local AED transfers and WPS salary payments on every plan
- Accounts in AED, USD, EUR, GBP, CAD, AUD, NZD, JPY and SAR
- A free Visa business debit card for single-signatory accounts
- Opening within one day for eligible customers under Mashreq's one-day promise
Watch out for
- Only for companies registered in the UAE, with at least one signatory living in the UAE
- Plans cost AED 99 to AED 200 a month; Prime is free only above an AED 50,000 average balance
- International and non-AED transfers cost AED 25 to AED 50 each
- Card payments abroad in other currencies cost 2.5% plus about 1.15% scheme charges
- Fees are subject to 5% VAT
- Trustpilot score of 1.8 from 785 reviews (Mashreq as a whole)
Business fit
Will Mashreq NeoBiz accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on Mashreq NeoBiz's published rules
Likely no
Mashreq NeoBiz does not list United Kingdom among the countries where it accepts companies.
Mashreq NeoBiz does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What Mashreq NeoBiz publishes about the businesses it takes on.
Who Mashreq NeoBiz serves
- Startups and SMEs
- Freelancers
- E-commerce
- Import and export
Not supported
Industries and countries Mashreq NeoBiz does not accept, from its own published lists.
Industries
- Not published
Countries
- Not published
Coverage
Where can you use Mashreq NeoBiz?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
AED and 8 other currencies
- EUR
- USD
- GBP
- CAD
- AUD
- JPY
- AED
- NZD
- SAR
Payment reach
Not published
Who can apply
Company incorporation countries1 countries · show list
- United Arab Emirates
Owner nationality
Not publishedOwner residency
Not publishedCompany types
Single-owner companies, Partnerships
Pricing
What does Mashreq NeoBiz cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Free
Monthly fee
AED 0–200
depends on plan
Pro
AED 99 per month
AED 0 setup · AED 1,188 in year one
Pro Plus
AED 199 per month
AED 0 setup · AED 2,388 in year one
Lite
AED 200 per month
AED 0 setup · AED 2,400 in year one
Trader Pro
AED 200 per month
AED 0 setup · AED 2,400 in year one
Prime
Lowest costAED 0 per month
AED 0 setup · AED 0 in year one
Transaction fees
| Cost | Pro | Pro Plus | Lite | Trader Pro | Prime | How it is charged |
|---|---|---|---|---|---|---|
| Outgoing | ||||||
| SWIFT / international | AED 50 | AED 25 | AED 40 | AED 40 | AED 25 | Fixed fee |
| To another Mashreq NeoBiz account | Free | Free | Free | Free | Free | No charge · Local AED transfers in the UAE, every plan |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published |
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Physical card issue | Free | No charge · One Visa debit card per company, single-signatory accounts only |
| Card FX | 2.5% | Percentage of the amount · Plus about 1.15% Visa or Mastercard processing; 1.25% for AED transactions abroad |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Apply
Start the application online or through the sales team.
- 2
Company and people
Give the company's registration details, directors and owners.
- 3
Checks
Upload the documents requested and complete identity verification.
- 4
Account live
Once approved, the account is opened and you receive its details.
Documents you need
Not published
FAQ
Your questions, answered.
Is Mashreq NeoBiz a bank?
NeoBiz is the digital business banking service of Mashreqbank PSC, a licensed bank regulated by the Central Bank of the UAE.
How much does Mashreq NeoBiz cost?
Plans cost AED 99 (Pro), AED 199 (Pro Plus) and AED 200 (Lite, Trader Pro) a month; Prime is free while the average balance stays above AED 50,000. Local AED transfers are free; international transfers cost AED 25 to AED 50. Fees are subject to 5% VAT.
Who can open a NeoBiz account?
Companies registered in the UAE, set up as single-owner companies or partnerships, with at least one signatory who lives in the UAE. No initial deposit is needed.
How fast is account opening?
Mashreq promises opening within one day for eligible customers, subject to its terms.
Alternatives
How Mashreq NeoBiz compares.
If Mashreq NeoBiz is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 Mashreq NeoBizThis pageBank |    | Business accountDigital bank |
 Wio BankBank | | Digital bank7 currencies |
 Revolut BusinessBank |  | Cards and spend controlsStartups and SMEs |
 Wise BusinessE-money institution |  | Low FX costsStandard businesses |
 AirwallexE-money institution |   | Global accountsOnline businesses |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.