Opening a current bank account online

The Easy Way to Manage Your Money

Posted on March 22, 2018

Nowadays it’s more vital than ever before to have a good, solid grip on your money matters. This is because we use our money in a more sophisticated manner than ever before. Be it investing in the stock market or remitting money overseas. A current account that is connected to all your other financial needs like stocks, gold, and quick remittance is a necessity. Opening a current account that does all this can now be done online, and the whole process is super-easy!

First things first, what exactly is a current account?

What is a Current Account, and Why do I Need One?

A current account is a basic account which allows you to receive money, send money, make transfers, and gain access to your cash whenever you need it. The best new current account options around offer many other benefits besides this, such as discounts in big named stores, use of a debit card, and a whole range of other perks that can be taken advantage of. Instant current account opening means that these benefits can be enjoyed from the get-go, without having to wait for paperwork to be authorized and handled. 

A current account can be used to send and receive payments, including your salary (which would give you extra benefits). Automatic payments can be set up to be paid to your various creditors, e.g., if you have any debts you pay monthly, any insurance payments, and even your rent. 

To break it down further, a current account is used for the following reasons/uses:

•  To receive payments, e.g., from friends/family, or from work

•  To make payments, e.g., direct payments to creditors/rent/cell phone contract

•  To make transfers, e.g., to a savings account when you are paid from work

•  Some current accounts have money saving benefits

•  Mobile and branchless banking with Mashreq Neo means you can see how much cash you have at any time of the day

Opening a Current Account 

When opening a current bank account online with Mashreq Neo, the whole process is fast. You enter your details, set up your account, and your debit card will be delivered to you by courier. 

Why is it Important to Have Control Over Your Cash?

That might sound like a ridiculous question, but it is one that many people don’t fully understand. If you aren’t sure how much money is in your account if you’re not sure when payments are coming out, or you’re trying to find a way to pay someone manually, you need to send money too, stress can take over. This can lead to missed payments, it can lead to going overdrawn, and overall it’s just a situation that is best avoided. At Mashreq Neo, we recognized that by having all your financial needs from investments to your current account in one place that it would make it much easier to manage your money.

So, now it’s time to open a current account online!

Disclaimer: This article has been prepared solely for information purposes. It does not constitute an investment advice, solicitation, offer or personal recommendation by Mashreq, or any of their related parties to buy or sell any securities, product, service or investment or to engage in or refrain from engaging in any transaction, particularly, in any jurisdiction where such an offer or solicitation would be illegal. Neither Mashreq nor any of their related parties warrant the accuracy of the information provided herein and views expressed in this article reflect the personal view which does not take into account of individual clients’ objectives, financial situations or needs. Investors are required to undertake their own assessment and seek appropriate financial, legal, tax and regulatory advice to determine whether such investment is appropriate for them in light of their experience, objectives, financial resources and other relevant circumstances. Neither Mashreq nor any of their related parties accept any liability whatsoever for any direct, indirect, consequential or other loss arising from this article and/or further communication in relation thereto. Mashreq do not accept any obligation to correct or update the information in this article.