Your First Job, Your First Salary Account

Posted on March 18, 2018

You’ve secured your first job, and you’re looking forward to your first month’s salary payment – congratulations! Before you start spending your hard-earned cash, you need to think about a salary account. Don’t worry, there are many salary accounts in Dubai and the UAE.

Salary account opening is quick and easy, and basically allows you to receive your money fast and effectively. Whilst the process isn’t difficult, you do need to shop around, because there are many added extras you can receive if you are a little savvy with your financial needs. For instance, there are many salary account offers in the UAE that you can take advantage of, perhaps higher interest rates, free perks, and other plus points that will make your banking experience easier.

Most financial advisors will recommend that you open both a salary account and a savings account, because that way you can transfer a portion of your salary into your savings account and leave it to mount up, until you have a nice little nest egg for a rainy day, or for more serious things in your future. This also allows you to better manage your money, and takes away the niggling temptation to spend your savings on small things, and stay disciplined. A high interest rate is a plus point on your savings account, as you will save more without even realising it.

Salary Account Opening in UAE

You don’t have to wander around the High Street trying to find the best deals anymore, as you can complete the whole process online. For instance, you can open a salary account with Mashreq NEO, and it will take a matter of minutes. From there, you can manage your money totally online – the ideal answer to a busy, modern life!

When you shop around for the best salary account in the UAE, you also need to look at the benefits you might receive. A few suggested benefits to look out for include:

●     1% cashback on your salary

●     AED 300 cashback joining bonus

●     Free international remittance

●     Receive annual benefits

●     Free foreign currency account

●     Free first checkbook

●     Dining and travel benefits

●     No minimum balance requirements

●     Free debit card and gold currency account

Any extra offers you can find as part of a salary account package will certainly make your life a little easier. For instance a debit card allows you to use chip and pin and contactless payment in countless outlets. This cuts down on the need to withdraw money from the ATM machine, and then carry cash around with you. Any extra discounts, such as money off on dining, are certainly welcome too!

If you choose to open a salary account with Mashreq NEO, you’ll receive all of the above benefits, and the fact that the bank is totally digital, means that you can control your cash via a downloadable app; you can check your balance and make transfers instantly, without having to make a trip to your local branch.

Your first salary account should be something you welcome into your life, because it means you are on the road towards financial security and putting the first foot on the career ladder of your choice!

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.

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