Minimum age
18 years
Mashreq NEO Plus Current Account
Mashreq NEO PLUS is the NEO Current Account without the fall-below fee or Mashreq transfer fees, with an AED 10,000 salary transfer or AED 50,000 balance.
At a glance
Key facts
Account TypeCurrent
Holding CurrencyAED
Debit CardIncluded
Account access
Debit card included.
Applicants must be at least 18 years old with a valid Emirates ID. NEO PLUS requires monthly average relationship balance of AED 50,000 or monthly salary transfer of AED 10,000; benefits stop after 2 consecutive months without meeting the applicable requirement. The saver rate applies only to NEO PLUS Saver funds.
NEO PLUS is not a separate account you apply for. It is a status on the Mashreq NEO Current Account that the bank switches on by itself once you qualify, and it tells you when that happens. There are two ways in. Have a salary of AED 10,000 or more paid into your Mashreq NEO account each month, or keep a monthly average of AED 50,000 across your Mashreq accounts and deposits. While the status lasts, Mashreq charges no fall-below fee, no fee of its own on local or international transfers, no ATM withdrawal fee in the UAE or abroad, and nothing for chequebooks. Your existing debit card carries on working.
Who can open it
Residency
UAE resident
Qualifying salary or balance
AED 10,000 monthly salary credit, or AED 50,000 monthly average held with Mashreq.
Fees and balance
With NEO PLUS there is no daily balance to watch, because the AED 26.25 fall-below fee charged to standard NEO customers does not apply. What you watch instead is the qualifying rule. Miss it for two months running, whether that is the salary or the average balance, and the benefits stop at the start of the month after. Mashreq's own example: you qualify in May, miss June and July, and lose the benefits at the start of August. From then you are a standard NEO customer again and the AED 3,000 daily balance rule returns. The status comes back when you meet the rule again. For salary customers that is when the next AED 10,000 salary lands. For balance customers it is the month after you hold the AED 50,000 average.
Fall-below fee
Free
Account closure fee
Free
Benefits
Free Local and International Transfers
Mashreq waives its fee on local and international money transfers for NEO PLUS customers.
Free ATM Withdrawals Worldwide
No Mashreq fee on ATM cash withdrawals in the UAE, the GCC or internationally.
Free Chequebooks
Chequebooks are issued free of charge while you hold NEO PLUS.
How to open
Before you apply
1.Applicants must be at least 18 years old with a valid Emirates ID. NEO PLUS requires monthly average relationship balance of AED 50,000 or monthly salary transfer of AED 10,000; benefits stop after 2 consecutive months without meeting the applicable requirement. The saver rate applies only to NEO PLUS Saver funds.
2.Debit card included.
Application steps
1.Open a Mashreq NEO Current Account online or in the Mashreq Mobile App: scan your Emirates ID, take a selfie and enter your personal details.
2.Arrange for a salary of AED 10,000 or more to be paid into the account, or build a balance of AED 50,000 with Mashreq.
3.Wait for Mashreq to notify you that NEO PLUS benefits are active. There is no form to fill in.
4.Open a NEO PLUS Saver Account in the app if you also want the savings rate.
Good to know
Good option for
Anyone who can move a salary of AED 10,000 or more to Mashreq, or who keeps AED 50,000 with the bank, and who sends money abroad or uses ATMs outside the UAE often enough for the waived fees to add up.
Consider another account if
Your salary is under AED 10,000 and your balance is under AED 50,000. You would hold a standard NEO account, which carries a fall-below fee unless you meet its own, lower conditions.
The savings rate needs a second account
Reaching NEO PLUS does not make this current account pay interest. The rate Mashreq advertises with NEO PLUS belongs to the NEO PLUS Saver Account, which you open separately in the app and then move money into.
Frequently asked questions
Get answers to common questions about the Mashreq NEO Plus Current Account