Minimum age
18 years
DIB Al Islami Payroll Current Account
DIB Al Islami Payroll Current Account is a salary account for staff of firms on DIB's payroll service. It pays no profit and costs AED 0 to AED 20 a month.
At a glance
Account access
For UAE nationals or legal residents over age 18 employed by a company listed with DIB for Payroll services. Request the optional debit card when opening the account; the first card is complimentary.
This is the current account DIB opens for employees of companies that use its payroll service. You cannot apply for it on your own. Your employer has to be on DIB's payroll list, and the account is opened through the bank's Payroll Sales Team, in your name only. Your salary is paid into it and you use it like any current account, with an optional debit card, bill payments and branch access. It follows the Qard Hassan structure, so the bank guarantees the balance and pays no profit on it. No opening balance is needed. If your employer does not use DIB for payroll, the open-market equivalent is the Al Islami Current Account.
Who can open it
Residency
UAE resident or national
Employer on DIB payroll
Your company must be registered with DIB for its payroll service.
Fees and balance
There is no minimum balance test on this account. What you pay each month is decided by the agreement between DIB and your employer, which places the company in a fee category, and by your salary. Category A accounts pay nothing. In four other categories the monthly fee is AED 5, AED 10, AED 15 or AED 20 and applies to employees with a salary of AED 3,000 or below. In category G every employee pays AED 5. Whatever the category, the fee is not charged if the account is linked to an active Wakala or Investment Deposit, or if you are an Aayan or Wajaha customer. Closing the account within 6 months of opening costs AED 26.25.
Minimum opening amount
None
Monthly fee
Free
Employer fee category A; also exempt when the account is linked to an active DIB Wakala or Investment Deposit, or for Aayan and Wajaha customers.
Monthly fee
AED 5
Employer fee category B: monthly salary AED 3,000 or below.
In plain words
- Fee levels
- The monthly fee has more than one level. The condition you meet decides which one applies, and you pay that one level only, never the levels added together. More on this
- Account closure fee
- A one-off charge of AED 26.25 for closing the account within 6 months of opening it. Closing it later costs nothing. More on this
Benefits
Optional Debit Card
Issued if you apply for it when the account is opened. The first card is complimentary.
Six Free Teller Transactions
Six branch teller transactions a calendar month at no charge. Each extra one costs AED 10.50.
Six Account Currencies
Can be held in AED, USD, EUR, GBP, AUD or SAR.
Shariah-compliant
Banking model
How to open
Before you apply
1.For UAE nationals or legal residents over age 18 employed by a company listed with DIB for Payroll services. Request the optional debit card when opening the account; the first card is complimentary.
Application steps
1.Confirm that your employer uses DIB for payroll.
2.Apply through DIB's Payroll Sales Team.
3.Complete the account opening application and sign the FATCA and CRS tax declarations.
4.Provide your Emirates ID, passport and, for expatriates, residence visa, each valid for at least 30 days.
5.Provide proof of income and proof of your residential address.
6.Request the debit card when opening the account if you want one.
Good to know
Good option for
Employees whose company runs payroll through DIB, especially where the employer's category carries no monthly fee.
Consider another account if
You want profit on your salary balance. The Payroll Savings Account shares profit quarterly.
Cheque book depends on salary
You can apply for a 25-leaf cheque book if your monthly salary is AED 3,000 or more, after a credit bureau check. If you are new to banking, the bank issues 10 leaves in the first six months and a further 10 after that if the relationship is satisfactory. No cheque book is issued to someone with a bounced cheque in the past 6 months.
Frequently asked questions
Get answers to common questions about the DIB Al Islami Payroll Current Account