Minimum age
18 years
CBD Foreign Currency Account
CBD Foreign Currency Account is a current account held in USD, GBP, EUR or six other currencies, opened in the CBD app by UAE residents aged 18 or over.
At a glance
Account access
Available in USD, GBP, EUR, SAR, AUD, CAD, CHF, SEK and JPY. UAE residents aged 18 or above.
Open in the app.
CBD Foreign Currency Account is a current account that holds a currency other than dirhams. It is offered in US dollars, British pounds, euros, Saudi riyals, Australian dollars, Canadian dollars, Swiss francs, Swedish kronor and Japanese yen. It suits people who are paid in, save in or send money in one of those currencies and want to keep the balance in that currency. UAE residents aged 18 or over can open one in the CBD mobile app. It falls under the same Key Facts Statement as the CBD Current Account, which is the dirham account for everyday spending. It is not part of CBD's campaign rate on new funds, which covers AED accounts only.
Who can open it
Residency
UAE resident
Fees and balance
Minimum monthly average balance and monthly breach fee: USD 1,500 / USD 29.4; GBP 1,000 / GBP 21; EUR 1,000 / EUR 21.
The balance rule is set in the account's own currency. For a US dollar account, keep a monthly average of USD 1,500, and a month below that costs USD 29.4. For a pound account the average is GBP 1,000 and the charge is GBP 21. For a euro account it is EUR 1,000 and EUR 21. The bank looks at your average across the month, so a short dip does not trigger the charge if the month as a whole averages out above the line. Closing the account within six months of opening costs AED 105, unless you close during the first five working days. Transfers and currency exchange carry no cooling-off period: once sent, they are processed straight away.
Account closure fee
AED 105
Charged only within 6 months of opening. Waived within 5 working days.
In plain words
- Account closure fee
- A one-off charge of AED 105 for closing the account within 6 months of opening it. Closing it later costs nothing. Closing within the first 5 working days carries no charge either. More on this
Benefits
Nine Account Currencies
Available in USD, GBP, EUR, SAR, AUD, CAD, CHF, SEK and JPY
App Account Opening
Opened through the CBD mobile app
How to open
Before you apply
1.Available in USD, GBP, EUR, SAR, AUD, CAD, CHF, SEK and JPY. UAE residents aged 18 or above.
2.Open in the app.
Good to know
Good option for
UAE residents who receive or hold US dollars, pounds or euros and can keep the monthly average for that currency in the account.
Consider another account if
You only need another currency now and then, or would hold less than the monthly average. A low-balance month is charged in the account's currency. For everyday dirham banking, see current accounts compared.
Frequently asked questions
Get answers to common questions about the CBD Foreign Currency Account