OCTIS vs Wio vs Emirates NBD vs Mashreq NEO BIZ for a UAE company account
Monthly fees, balance rules and what each account is built for.
Last checked · 7 sources
Otty's short answer
Wio Business and Mashreq NEO BIZ both start at AED 99 per month, and Mashreq lists no minimum balance, so either suits a new company that wants to bank online. Mashreq adds multi-currency accounts and 3% interest on its higher plan. Emirates NBD is a full bank with tiered packages and balance rules, a better fit if you need branches, cash and a lending relationship.
Side by side
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| What matters | OCTISHong Kong company + OCTIS global plan | Wio Business | Emirates NBD | Mashreq NEO BIZ |
|---|---|---|---|---|
| Entry plan monthly fee | Set by our licensed partner; quoted before you commit | AED 99 (Essential) | Check current fee | AED 99 (Pro) |
| Higher plan monthly fee | Set by our licensed partner; quoted before you commit | AED 249 (Grow) | Tiers by balance | AED 199 (Pro Plus) |
| Minimum balance, entry plan | Set by our licensed partner; quoted before you commit | Not published | None on Connect | None |
| Local transfers | Set by our licensed partner; quoted before you commit | 10 free a month (Essential) | Not published | Free |
| International (SWIFT) fee | Collecting and sending payments via licensed partners | AED 52.50 (Essential) | Not published | Not published |
| Interest on balances | Not an OCTIS product | Up to 3.75% savings (as advertised) | Not published | 3% on Pro Plus |
| Multi-currency accounts | International multi-currency business account via licensed partners | Not published | Not published | USD, EUR, GBP and more |
| Time to open | Set up through licensed partners alongside your incorporation | Up to 3 working days | Not published | 1 day or AED 1,000 |
| Cheques and cash | Not an OCTIS product | Not published | Branch bank | Cheque book |
| Credit lines and loans | Not an OCTIS product | Yes | Not published | Not published |
| Regulator | OCTIS is not a bank: accounts are with licensed partners | Central Bank of the UAE | Central Bank of the UAE | Central Bank of the UAE |
If you have staff, premises or local sales in this country, its own registration and tax rules still apply. OCTIS can help you arrange them.
Data sources & disclaimer: Comparison data was compiled from publicly available sources — including the competitors' own published pricing and feature pages — captured on 9 November 2026. Figures reflect the typical or advertised pricing at that time and may have changed since; plans, inclusions and prices vary by provider, region and promotion. OCTIS is independent and not affiliated with the named companies; all trademarks belong to their respective owners. This comparison is provided in good faith for general information only and is not professional, legal or financial advice — please verify current details with each provider before deciding.
Which one fits you
OCTIS · Hong Kong company + OCTIS global plan
Choose OCTIS if you want multi-currency banking via partners together with company, accounts and CRM in one place.
Wio Business
Choose Wio Business if you want a low-cost digital account with team roles, virtual cards, invoicing and payroll files in one app.
Emirates NBD
Choose Emirates NBD if you want a large branch bank, tiered packages and a lending relationship, and you can keep the required balance.
Mashreq NEO BIZ
Choose Mashreq NEO BIZ if you want multi-currency accounts, free local transfers and a bank behind an online application.
What the table does not show
How the fees differ
Wio charges AED 99 for Essential, with 10 free local transfers a month and a SWIFT fee of AED 52.50. Grow is AED 249 with unlimited free local transfers and a SWIFT fee of AED 26.25. Mashreq charges AED 99 for Pro and AED 199 for Pro Plus, with free local transfers and free salary transfers on both. Emirates NBD prices by package. Its Connect tier has no minimum balance and a flat monthly fee, and higher tiers ask for an average balance. The monthly fee is not confirmed on the bank's own pages, so check its current schedule of charges.
Digital app or full bank
Wio Business is run from an app and offers invoices with payment links, budgets, virtual cards, payroll files and savings interest. Mashreq NEO BIZ is online too, but sits inside a bank that also offers a cheque book. Emirates NBD is a traditional bank. Many companies keep a digital account for daily payments and a second bank for cash, cheques or credit.
What the bank will ask for
Mashreq lists a trade licence, memorandum of association, board resolution where it applies, company address proof, partners' ID documents and bank statements where it applies. Expect similar documents at other banks. A bank can still decline an application or ask for more, so a 1-day or 3-day opening time is a target, not a promise.
Where OCTIS fits
OCTIS is not a bank and has no partnership with Wio, Emirates NBD or Mashreq. It does not keep books in the UAE. If your Malaysian or Hong Kong company sells into the UAE or owns a UAE subsidiary, OCTIS can keep the home company's accounting and secretary work in order. Ask about 10–30% off your current bill.
Frequently asked questions
Is Wio or Mashreq NEO BIZ cheaper for a small company?
Both start at AED 99 per month. Mashreq Pro has free local transfers. Wio Essential gives 10 free local transfers a month and charges AED 52.50 for a SWIFT transfer. The cheaper account depends on how many transfers you send each month.
Does Emirates NBD require a minimum balance for business accounts?
It depends on the package. The Connect tier has no minimum balance and a flat monthly fee. Higher tiers, such as Prime, ask for an average balance, reported at AED 50,000, and charge a fee if you fall below it. Check the current schedule of charges before applying.
Can I open a UAE business account without visiting a branch?
Wio says you can apply digitally and be up and running in 3 working days. Mashreq says you can complete the application in 10 minutes online and promotes opening in 1 day. The bank still reviews your documents and may contact you for verification.
Does a Wio or Mashreq account pay interest?
Wio advertises savings interest of up to 3.75% per year, and Savings Spaces on Grow at up to 3% for 3 months, then 1%. Mashreq lists 3% per year on AED and USD balances for Pro Plus. Rates can change and carry terms, so read the current conditions.
Do I need a second bank account as well?
Often yes. A digital account covers daily payments and payroll files. If you deal in cash, need cheques or want a credit line, a traditional bank may suit you better. Some UAE companies run a digital account and a bank account side by side.
Sources
Checked on the date above. Links open the provider's or regulator's own page.