9 Online Banking Benefits-UAE Banks Online Portals

9 Online Banking Benefits UAE Banks Online Portals 

Internet and mobile phones have challenged the traditional brick and mortar method of banking. Reasons being online banking is faster, easier and most of all convenient. Having real time access to your banking account and activity helps in better money management. Tracking your finances was never this easy. All it takes is an internet connection, a bank account to start with and a few click of buttons. You can transact, check account balances, transfer money, pay your bills and the list is never ending.

There are more than 40 commercial banks operating in UAE and you can imagine the kind of competition there is in the market. UAE, being a small country is home to cutting edge technology. A little lag and the competitor bank can snatch away a customer right away from their platter. Most of the UAE banks have made available online banking to its customers. You can perform a wide range of functions on banks’ online portals. Having said that, how you and me are benefited from online banking in UAE?

Benefits of Online Banking In UAE:

#1. 24/7 Access To Your Bank Accounts

There was a time when you had to access or know your activity in your bank account, you had to go to your bank physically and only during stipulated hours. But now, you can transact anywhere and any time and as long as you want. An internet connection, a laptop or a mobile phone is all you need. You can check your account activity, download credit card statements, pay your utility and credit card bills, make money transfer and the list goes on. You can securely bank without the hassle of flocking to your bank branch. Several banks in UAE offer mobile banking too where you can download the respective bank’s mobile banking app. So banking is not only at your finger tips, but also ‘on the go!‘.

#2. Better Management of Finances

We majorly falter when we are either ignorant or unaware of what is going on in our bank account or credit card account. But having real time access to our bank and credit card account helps us to manage our finance in a better way. You can easily check your bank account balance, the amount that you have spent with your credit card, the due date of credit card bill, any fraudulent charges and so on. This transparency helps you to curtail spending and also helps you to budget your expenses. In UAE, I understand life is busy. Laymen like you and me, juggle between work and family. The convenience and ease of online banking has lent itself to the benefit of busy lives. Keeping tab on our money was never this easy.

#3. No Shocks Or Surprises

Since it just takes logging-in and accessing our bank accounts with a few click of buttons or few touches on our mobile devices, the shocks and surprises are mitigated. Continuous monitoring of our accounts never allow any unwanted expenses or charges to creep in. Even if they do, we can take action immediately and correct the situation.

#4. Alerts and Warnings

When you opt of online banking or internet banking, you are subscribing for all the benefits which come along with it. Notifications and alerts in the form of SMS and emails can greatly reduce the risk of ‘bad banking’.You will get alerted in various situations like a SMS alert whenever your credit card is used or when you account balance is low or an email notifying phishing attempts. Also, you will be notified whenever the bank launches new products and offers.

#5. Budgeting Made Easy

The details of debits and credits, the balance etc will all help you to keep a tab of your finances. Having a transparent 360 degree view of your account helps you to easily track your monthly expenses and incomes. This way, you don’t need to keep a separate budget. You bank account and credit card account becomes a budget in itself. Since you can track your credit card spending, you know how much you have spent and where. This credit card statement will help you to take a step back and analyse whether the expended amount was really necessary, whether you have enough balance to pay off your credit card bill and whether you have the leeway to delay certain expenses. Your previous months’ expense can help you to streamline your finances and take drastic measures, if you have to, to cut down your spending. This easy access and easy of banking helps you manage your finances in a better way.

#6. Easy Tracking Of Accounts

With online and mobile banking, you can observe and watch you account activity whenever you want. You won’t need a physical passbook to know your debits and credits. If you running a business, you can easily track your accounts receivable and account payable and do follow-ups promptly if required.

#7. Pay Bills Conveniently

With online banking, you can escape long waits in queues for making bill payments, hassles of checks getting lost and all other kinds of inconveniences. Also you don’t have to maintain paper bills. All the billing records will be available online and easily accessible. You can also automate your bill payments as and when they become due.

#8. Secure and Well Protected

Online banking is very secure. Banks spend a lot of money in securing their systems and servers. Also you will be exempt from any liability if there were any faulty or fraudulent transactions because of loop holes in their system. As long as you keep your IDs and passwords of your online banking account well guarded, there is no way that any one can access your personal information and account details. And again, even if you lose your mobile device, there is no reason to worry. Online banking is secure.

#9. It Is Free

Well, this needs no explanation. Online banking is free and it should be. After all it is your money. It is a privilege of the bank to serve you and your interests. Not to mention the profits that banks make when you use their banking facilities.

How To Go About Online Banking In UAE:

Digital banking, online banking or mobile banking is no rocket science. It is as easy as sending an email. So do not have any mental block regarding its safety and easy of use. Well, you need have to account with the local bank in UAE to access the bank’s online banking portal. If you already have an account and you are not yet using online banking facilities, then you can call the customer care number and ask them to set up or activate your online banking account. It shouldn’t take more than 2-3 days. Well, depends on each bank. If you are opening a new account, then ask the personnel who is handling the account opening for you to activate your online banking account.

You need to create an ID and also create a strong password and keep this information secure with you. Once online banking is activated, you can just login and explore the available options. Play around. I am sure every bank which has an online banking portal will have a user guide. Run through that. Experiment and you can become a super user in no time.

Tips: Banks will never ask you to provide your online banking password via email or on phone. And banks website domains start with ‘https‘ and not just ‘http‘. The additional ‘s‘ means it is secure and hack-proof.

Keep your mobile device and laptops virus free. Install the required antivirus and malware protection software.

Online Banking Portals of Banks In UAE: 

#1. ABN Amro Bank NV Internet/Online Banking Portal 

Established-1991

#2. Abu Dhabi Commercial Bank Internet/Online Banking Portal 

Established-1985

#3. Abu Dhabi Islamic Bank Internet/Online Banking Portal

Established-1997

#4. Al Ahli Bank of Kuwait Internet/Online Banking Portal 

Established-1967

#5. Al Hilal Bank Internet/Online Banking Portal

Established-2008

#6. Arab African International Bank Internet/Online Banking Portal 

Established-1964

#7. Arab Bank PLC Internet/Online Banking Portal 

Establish-1930

#8. Bank Melli Iran Internet/Online Banking Portal 

Established-1927

#9. Bank of Baroda Internet/Online Banking Portal 

Established-1908

#10. Bank of Sharjah Internet/Online Banking Portal 

Established-1973

#11.Bank Saderat Iran Internet/Online Banking Portal

Established-1952

#12. Blom Bank France SA Internet/Online Banking Portal

Established-1976

#13. BNP Paribas Bank Internet/Online Banking Portal

Established-2000

#14. Calyon Bank Internet/Online Banking Portal

Established-2004

#15. CitiBank NA Internet/Online Banking Portal

Established-1812

#16. Commercial Bank of Dubai Internet/Online Banking Portal

Established-1969

#17. Dubai Islamic Bank Internet/Online Banking Portal 

Established-1975

#18. Emirates NBD Internet/Online Banking Portal 

Established-2007

#19. Emirates Islamic Bank Internet/Online Banking Portal 

Established-2004

#20. First Gulf Bank Internet/Online Banking Portal 

Established-1979

#21. Habib Bank Limited Internet/Online Banking Portal 

Established-1941

#22. HSBC Bank Middle East Internet/Online Banking Portal

Established-1889

#23. Lloyds Bank TSB Internet/Online Banking Portal

Established-1765

#24. Mashreq Bank Internet/Online Banking Portal 

Established-1967

#25. National Bank of Abu Dhabi Internet/Online Banking Portal

Established-1968

#26. National Bank of Fujairah Internet/Online Banking Portal

Established-1982

#27. National Bank of Oman Internet/Online Banking Portal 

Established-1973

#28. National Bank of RAK Internet/Online Banking Portal 

Established-1976

#29. National Bank of UAQ Internet/Online Banking Portal

Established-1982

#30. Noor Islamic Bank PJSC Internet/Online Banking Portal

Established-2008

#31. Sharjah Islamic Bank Internet/Online Banking Portal 

Established-1976

#32. Standard Chartered Bank Internet/Online Banking Portal

Established-1969

#33. Union National Bank Internet/Online Banking Portal 

Established-1982

#34. United Arab Bank Internet/Online Banking Portal

Established-1975

#35. United Bank Limited Internet/Online Banking Portal 

Established-1959

Banking Safely Online In UAE-Take Following Precautions

#1. Protect Yourself From Malware:

Malware is one of the biggest security issues. Opening unwanted mails and attachments might lead to auto installation of malicious software on your devices. This malware can steal your personal data like your account info, passwords and other identity details. So before you install or open an unknown mail, take a step back and try and find out whether it comes from a known source and whether is authentic and would it harm your computer and other devices.

#2. Phishing:

Phishing takes the form of fraudulent emails which look like mails sent by your bank. Banks will never ask for your password via mail and banks online portals are always secured. So never fall for these emails and never ever provide any personal details or passwords of any accounts.

#3. Carrying Passwords:

If you find it difficult to remember ids and passwords, probably you should subscribe to a service which maintains all your passwords in one place safely and securely. We are rational beings and we tend to forget. We tend to write our passwords and carry it in our wallets or misplace them. If this information falls into the hands unscrupulous people, you will have put your finances at risk. So try and find an optimum solution to secure your ids and passwords. And again, ensure that your passwords are long and alpha-numeric.

Conclusion:

Traditional methods of banking are not out-dated but used less and less. Online banking saves everyone’s time. It is fast and accurate too. And you will have an online record of everything. So embrace online banking but flock to your bank once in a while because face to face human interactions are important too. If you have to negotiate something, then nothing like meeting the concered person face to face. Happy banking!!!

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