Dubai: Closing a bank account in the UAE is a fairly straightforward process, provided that you have cleared all your dues with the bank.
Regardless of the bank you are dealing with, there are certain processes that are standard. If you are moving out of the UAE, follow these steps to close your account with a bank. Also, it is always advisable to call your bank’s customer service number to find out if they have any specific requirements that you should be aware of to complete the account closing process smoothly.
Can I do it online?
No, almost all banks require that you visit a branch to initiate the account closure request.
Which documents do I need?
When you visit a branch, you should carry the following documents with you:
- A photo ID
- Debit and credit cards associated with the account
- Unused cheques and chequebook
Step 1 – Empty your account
At the branch, you can either withdraw the money in cash from the teller or request for a bank transfer to another account you might have. Once the account is empty, request for an account closure form.
Step 2 – Fill out the account closure form
The account closure form requires basic information like the type of bank account you have with the bank and the reason for closure. Some banks also have the option of allowing customers to request for 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 counter.
Step 3 – Submit all related cards and cheques
On account closure, unused cheques and debit cards have to returned to the bank. According to Emirates NBD, in case of inability to submit, the remaining cheques and the debit card will be de-activated as part of the account closure process.
Step 4 – Confirmation
You will then receive a confirmation from the bank on your registered email address and mobile number informing you of the account closure. You can also request for a confirmation in case these messages are not automatically sent to you.
If you need a clearance or no liabilities letter, you can request for one at this stage. It would be ideal to do so, especially if you are moving out of the UAE.
According to Emirates NBD, in order to avail a settlement of liabilities letter, the customer will need to submit a signed request form, maintaining the fee amount in the account. However, the bank branch may request for other documents on a case-by-case basis.
And that’s it! Your account should be closed within three to five working days, so it is best to initiate the process a week before leaving the UAE and ensuring that you have enough cash with you to complete all the other procedures required.