Wio Bank Business Account UAE: Quick Guide for Startups & SMEs

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Nithila Kumar
Last updated on June 16, 2025

Wio Bank has quickly become one of the fastest growing banks in the UAE, reporting around AED 400M in profits and over 140,000 new customers in 2024. The bank offers a Wio Bank Business Account in UAE for entrepreneurs and investors interested in setting up a business in the country.

The Rise of Wio Bank

Wio Bank is the country’s first digital banking platform and is regulated by UAE’s Central Bank. Established in Abu Dhabi in 2022, it is backed by the following investors:

Wio focuses on seamless, quick finance and banking services and being accessible to its customers. They do this by completely eliminating the need to visit an actual location. The bank offers the following services:

Personal bank account:

Open a personal bank account and get cashback and saving opportunities.

Business bank account:

The business bank account offers benefits to startups and SMEs.

Investment services:

Wio Invest is a SCA-supported platform that allows customers to easily invest and trade.

Financing support:

Wio allows borrowing up to AED 3 Million with low interest repayment rates.

Payroll services:

WPS compliant payroll services including payment links and streamlined invoicing procedures.

Local and international transfers:

Make local and international transfers through your bank account in multiple currencies.

Saving options:

Create smart saving spaces and automate goals to help efficiently manage your finances.

Credit cards:

Wio credit cards offer real-time expense tracking and rewards for its users.

24/7 customer service:

Wio offers customer support through phone and WhatsApp on 600 500 WIO.

How Wio Bank Supports Startups & SMEs

The Wio Bank corporate account in UAE offers a bank account tailored for startups and small and medium enterprises (SMEs).

Quick bank account opening: Download the Wio Business app and open your account in a couple of minutes.
Custom account plans: Tailored plans that suit every UAE business setup type.
Interest savings: Account holders can enjoy attractive interest rates on short-term and long-term savings.
Multi-currency accounts: Free multi-currency accounts for businesses engaged with international markets.
Interest-free credit: Interest-free credit for up to 60 days, loans up to AED 250,000 with adjustable repayment options.
2% Cashback: Get monthly cashback up to AED 2,000.
Additional tools & integrations: Integration with Zoho, Stripe, ICP, and payroll, invoicing, VAT features.

You can open a Wio Bank Business Account UAE for most businesses, but a few types aren’t allowed. If you run a gambling business, an unregistered charity, or a trust, your application won’t be accepted. The same applies if you’re involved in unlicensed crypto activities, run a financial service without UAE approval, trade in jewellery or bullion, or don’t have a physical presence in the country.

Wio Bank Business Partners

Wio Bank has partnered with free zone authorities and mainland business setup providers to simplify the process of starting and banking a business in the UAE. These partnerships are a key part of Wio’s mission to redefine UAE digital banking for startups by making it faster and easier for entrepreneurs to go from idea to operation.

By partnering with free zones, Wio can tailor solutions for fast account opening and financial services that are suited to the needs of startups and small businesses. The main partners are:

Meydan Free Zone: A Dubai-based free zone that enables entrepreneurs to set up their business remotely, with direct access to Wio’s digital banking platform.
IFZA (International Free Zone Authority): Offers fast company setup with access to Wio Bank corporate account UAE, ideal for cost-effective startups.
RAKEZ (Ras Al Khaimah Economic Zone): Open a Wio Bank SME account in this free zone that provides affordable trade licenses.
ADGM (Abu Dhabi Global Market): A finance-focused free zone where Wio supports startups with customized banking for regulated and fintech businesses.

Wio Business Account Plans

Wio bank offers two types of business account subscriptions: Essential and Grow. You can opt for a free trial with each plan before you choose the account to support your Dubai company registration.

Feature	Essential Plan	Grow Plan
Monthly fee	AED 99/month	AED 249/month
Suited for	Freelancers, small businesses	Medium and large businesses
International transfer fee	AED 52.50	AED 26.25
No. of free users	2	10
Salary transfer	Local transfers included	3 free transfers
Minimum balance	No minimum balance requirement	No minimum balance requirement

How to Open a Wio Bank Business Account in UAE

You can open a business account with Wio by downloading their app, Wio Business. You should fill out the application, submit the required documents, and wait for the bank to verify your details and approve your account. You may be asked to provide extra information about your business or submit extra documents.

List of Documents

This is what you’ll need to open a Wio bank SME account:

Owner personal identification documents (Passport, visa, Emirates ID)
Power of Attorney (if necessary)
Proof of address (Tenancy contract/Title deed/Bank statement/Utility bill)
Trade license
Memorandum of Association (MOA)
Board Resolution (if necessary)
Shareholder structure (if necessary)
Shareholder register (if necessary)

Certain documents related to your business license in UAE may need to be attested by the relevant authorities.

Open a Wio Bank Account With A&A Associate

The experts at A&A Associate can simplify Wio business banking in UAE by helping you open an account for your company. Whether you’ve set up in a free zone or on the mainland, we can provide comprehensive support throughout the business bank account process.

A&A Associate also offers expert tax services like helping you manage corporate tax in UAE and UAE VAT registration.

Frequently Asked Questions

Is Wio Bank Safe?

Wio business banking UAE is regulated by the UAE Central Bank and offers secure banking solutions for businesses of all sizes.

Is There a Wio Business Account?

Wio offers a dedicated Wio Bank SME account that is designed specifically for startups and growing businesses in the UAE.

Can I Deposit Cash in a Wio Account?

As Wio Bank is fully digital, cash deposits can only be done through partner locations (like FAB) or via transfers.

Does Wio Bank Accept International Transfers?

Wio Bank corporate account UAE supports international transfers in multiple currencies.

Is Wio a Digital Bank?

Wio Bank is a fully digital platform that is focused on providing UAE digital banking for startups and SMEs.

How Long Does It Take to Open a Wio Business Account?

You can open Wio Bank Business Account UAE quickly, often within minutes. Your account can often be activated within 3 days.

Can I Open a Wio Business Account for Free Zone?

Wio offers business accounts for free zone companies, partnering with IFZA, ADGM, RAKEZ, and Meydan Free Zone.

What Do I Need to Open a Wio Bank Account?

You’ll need to submit your passport copy, ID, trade license, and relevant documents depending on your business structure to open a Wio Bank corporate account in UAE.

What are the Types of Wio Business Account in UAE?

There are two types of Wio business bank accounts: the Essential Plan and the Grow Plan. Both types of account subscriptions can be opened without a minimum balance requirement.

Where is Wio Bank Located?

Wio Bank is based in Abu Dhabi but works online across the UAE.

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