Minimum age
18 years
FAB Payit Universal Account
Payit Universal Account from FAB is a free salary account in the Payit app for workers earning AED 5,000 or less a month with no other UAE bank account.
At a glance
Key facts
Monthly FeeNo monthly fee
Minimum BalanceNo minimum balance
Account TypeUniversal
Account access
For employed UAE residents aged 18 or above with total monthly income of AED 5,000 or less and no other active UAE current or savings account. Salary is paid into Payit Universal Account; the complimentary Letsgo card is linked to the account.
Open in the app.
The Payit Universal Account is a salary account that lives in Payit, the mobile wallet app operated by First Abu Dhabi Bank. Your employer pays your salary into it, and you use the app and a linked Letsgo card to pay, shop, withdraw cash, pay bills and send money home.
Universal is a class of account introduced under the Central Bank of the UAE's financial inclusion framework. It exists for people who may not qualify for a traditional bank account, and FAB offers it to workers whose total monthly income is AED 5,000 or less. It has no minimum balance and no monthly or annual fee. If you earn more than that, FAB's standard option is the Personal Current Account.
Who can open it
Residency
UAE resident
Maximum salary
Up to AED 5,000/month
Fees and balance
The account itself is free. There is no monthly fee, no annual fee, no minimum balance and no fee to close it. The Letsgo card is issued free in both digital and physical form, and a card payment declined for lack of funds is not charged.
Cash is free when you use FAB ATMs, for withdrawals, deposits and balance checks alike. Sending money from Payit to a FAB account is also free. Other services, such as using another bank's ATM or transferring money abroad, carry their own charges.
Minimum balance
None
Monthly fee
Free
Account closure fee
Free
Benefits
Fully Digital Account in the Payit App
Sign up and run the account in the Payit app, which supports English, Arabic, Hindi and Urdu.
Complimentary Letsgo Card
A Letsgo card linked to the account is issued at no charge, for payments, shopping and cash withdrawals.
Free FAB ATM Access
Cash withdrawals, cash deposits and balance enquiries at FAB ATMs carry no fee.
International Money Transfers
Send money abroad from the Payit app to over 200 countries and territories.
Reward Points on Salary Credits
Earn 100 reward points each month your salary is credited, and 10,000 welcome points for 3 salary credits.
How to open
Before you apply
1.For employed UAE residents aged 18 or above with total monthly income of AED 5,000 or less and no other active UAE current or savings account. Salary is paid into Payit Universal Account; the complimentary Letsgo card is linked to the account.
2.Open in the app.
3.Monthly salary must be at or below AED 5,000.
4.No minimum balance.
In plain words
- Salary ceiling
- This account is reserved for lower incomes. You can open it only if your monthly salary is AED 5,000 or less. More on this
Good to know
Good option for
Employed UAE residents earning AED 5,000 or less a month who have no bank account yet and want their salary paid somewhere free to hold, with a card and money transfers home.
Consider another account if
Your total monthly income is above AED 5,000 or you already have an active current or savings account in the UAE, since either one rules you out. You can compare accounts with no minimum balance instead.
Who the income ceiling applies to
Three conditions apply together. You must be employed. Your total monthly income must be AED 5,000 or less, and it is total income that is measured, not only basic pay. And you must not hold any other active current or savings account in the UAE. You also need to be 18 or older and living in the UAE.
Balance limit and cooling-off period
A Payit account can hold up to AED 3,500 until you complete the full registration process. Once full registration is done, the limit rises to AED 25,000. If you change your mind after opening, you have five business days from accepting the terms to cancel, by contacting Payit through the app or by email.
Frequently asked questions
Get answers to common questions about the FAB Payit Universal Account