In the UAE, the process of closing the FAB account is reliable and comfortable. If you are a customer of First Abu Dhabi Bank and willing to close your account it requires careful planning. The decision to close accounts normally arises due to various reasons like better service or moving to a new country. In this detailed blog, we will discuss the method of closing the FAB account.
Service/Action
Potential Cost (AED)
Details
Processing Time
Total Potential Cost (AED)
Account Closure Fee
0 - 100
Possible fee for closing the account, especially early closure.
1 - 7 days
Remaining Balance Transfer
Variable
Fees for transferring remaining funds to another bank account.
1 - 3 days
Outstanding Loan Settlement
Costs to settle any loans or overdrafts linked to the account.
Credit Card Settlement
Payoff balance and close any linked FAB credit cards.
Document Retrieval Fee
0 - 50
Fee for obtaining past
statements or account documents.
Check Cancellation Fee
0 - 25 per check
Canceling any uncashed checks issued from the account.
Direct Debit Cancellation
0 - 10 per order/debit
Cancelling standing orders or direct debits linked to accounts.
Inactive Account Fee
Fee for reactivating or closing an inactive account.
Balance Certification
0 - 20
Certificate stating final account balance and closure.
Other Administrative Fees
Any other miscellaneous fees as per bank policy.
You need to understand why you want to close your FAB account.
One of the main reasons to close your FAB account is to move to another country where it does not operate.
You can also consider closing an account if you are getting a better interest rate or services from another bank.
If you are feeling poor Customer service or unfavorable terms then you consider closing your FAB account.
It is vital for you to ensure that your account is in good standing when you start the process of closing your account.
Settle any outstanding balances: If you want to close your Fab account then remember to pay off your loans and dues.
Transfer funds: It is vital for you to transfer your remaining balance to another bank account. Always remember to double-check that all funds are successfully transferred.
If you want to close your FAB account you have to gather all required documents. These important documents are valid government-issued IDs, passports, and Emirates IDs. Moreover, it is important to provide your account number and branch information to avoid any issues. The Bank account closure form is also important for this process which you can download from the FAB website.
If you are willing to close your FAB account then you can visit the FAB website or physical branch.
Find the Nearest Branch: For this purpose, you have to find the nearest branch by using the FAB website or mobile app.
Schedule an Appointment: In UAE, various branches of FAB may require an appointment. So, it is vital to call ahead and schedule for a reliable process.
Once at the branch:
Request the Closure Form: The next step is to ask the customer service representative for a form to close your FAB account.
Fill Out the Form: After the process of getting a form, you have to fill out the application form by providing your information.
Submit the Form: After filling out the form, give the form along with your ID and required documents to the bank representative. T
Verify Your Identity: Then remember to ensure that all documents are correct. Moreover, the representative will verify your identity.
At last, when your application is processed, ask for a written confirmation then your FAB account is closed. Furthermore, this can be a letter or an email.
The habit of maintaining records of all correspondence with FAB regarding your account closure offers you comfort. So, it is vital for you to secure records.
It is vital to give plenty of time to complete the closure process if you have multiple automatic transactions to transfer.
Always remember to check after your closure request to ensure that the process is done correctly.
In the UAE, the FAB website or physical branch is one of the most comfortable ways to close your FAB account.
If you want to close my FAB account in the UAE then you must have an Emirates ID and passport. Moreover, you must also have a valid government-issued ID for a smooth process.
The closing account is important due to various reasons. Moreover, it normally arises for better service or moving to a new country.
If you are willing to close your FAB account then visit the FAB website. Moreover, for this purpose, you can also visit their physical branch in the UAE.
07 Sep 2024
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