Emirates NBD introduces free local transfers to any bank account in the UAE

Press release

Published December 7th, 2014 - 07:41 GMT

Emirates NBD Head Office

Emirates NBD, a leading bank in the region, today announced the launch of a campaign offering free local transfers to any bank account in the UAE.

As part of the campaign, all individual customers of the bank will be able to transfer money to any other bank in the UAE at no fee, while using digital channels including online, mobile and select ATMs.

This provides customers increased flexibility to make local money transfers to any other bank account in the UAE quickly and without charges, and in a more convenient manner, compared to other payment methods.

Commenting on the initiative, Suvo Sarkar, General Manager - Retail Banking and Wealth Management, Emirates NBD said, “Emirates NBD is committed to providing customer centric banking solutions that make life simple. This campaign aims to provide customers with a better alternative to the more cumbersome money transfer mechanisms such as issuing cheques or making cash payments, at no cost.”

The bank’s individual customers already enjoy free international remittances while transferring money through online or mobile banking.

The free local money transfer campaign complements other innovative products and services that Emirates NBD offers on its digital channels such as DirectRemit, a 60 seconds online remittance service to India and the Philippines, mePay, a peer-to-peer mobile-based money transfer service, Shake n’ Save, a mobile only product that allows customers to save money on the go, and Emirates NBD Deals, which keeps customers updated about promotions they can avail through use of the bank’s credit cards.

Background Information

Emirates NBD

Emirates NBD, the leading banking group in the region, was formed on 19 June 1963, when H.H. Late Sheikh Rashid bin Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first National Bank established in Dubai and the United Arab Emirates (UAE). With the blessings of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, NBD merged with Emirates Bank International (EBI) on 06 March 2007, to form Emirates NBD, the largest banking group in the region by assets. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). The merger between EBI and NBD to create Emirates NBD, became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.