Effective banking is an essential part of financial management, especially for residents in a fast-paced economy like the UAE. First Abu Dhabi Bank (FAB), one of the largest and most trusted financial institutions in the UAE, offers a range of banking services. But, as with any institution, banking with FAB comes with specific fees and charges.

Whether you’re a finance professional handling accounts or a UAE resident navigating your personal finances, understanding FAB’s fee structure can help you make smarter decisions and avoid unnecessary costs.

This blog will break down the charges for FAB balance check and annual account maintenance fees, compare them with other banks’ fees, and give you actionable tips to minimize banking expenses in the UAE.

FAB Bank Balance Checking Charges

Balance checking is one of the most routine banking activities. However, for FAB Bank, it’s not entirely free depending on how you check your balance. Here’s a quick overview of the associated charges:

  1. SMS Notifications: For account balance updates via SMS, FAB charges AED 2 per message.
  2. Mobile Banking App: Checking your balance via the FAB mobile app is free of charge, giving customers an accessible and cost-effective option.
  3. ATM Services: Balance inquiries made at FAB ATMs are free for account holders. However, using non-FAB ATMs incurs a fee of AED 1.
  4. Phone Banking: For customers who prefer phone banking for their balance inquiries, FAB applies a fee of approximately AED 3 per interaction.

Note on Recent Fee Changes

FAB recently adjusted its fee structure in 2023 to encourage customers to adopt digital banking channels. For example, the SMS fee was increased slightly from AED 1.50 to AED 2. This reflects an industry-wide trend toward digital-first banking.

Breakdown of FAB Bank Yearly Costs

Aside from balance inquiry fees, FAB customers should consider the annual costs that come with account maintenance and other banking services. Here’s what to expect for various types of FAB accounts:

  1. Standard Savings Accounts
      • Annual Maintenance Fee: AED 100
      • Minimum Balance Requirement: AED 3,000 (failure to meet this incurs a penalty of AED 25-75 per month).
  1. Current Accounts
      • Annual Maintenance Fee: AED 250
      • Overdraft Facilities: Overdrafts may have additional costs, typically around 5% of the overdraft amount.
  1. Elite or Privilege Banking Accounts
      • Annual Maintenance Fee: AED 500
      • Minimum Monthly Balance: AED 150,000 (fees apply if balance requirements are not met).
  1. Credit Cards Linked to Accounts
      • Annual Membership Fee: Ranges between AED 300 and AED 1,000, depending on the card type.

According to a 2023 study, UAE residents spend an average of AED 1,200 annually on banking fees and associated costs. FAB’s charges align with this industry average but can vary depending on account type and service usage.

Comparing FAB Bank Costs with Other UAE Banks

To better understand how FAB fits into the broader banking landscape in the UAE, let’s compare its charges with two other popular banks—Emirates NBD and ADCB.

  1. Balance Checking Fees
      • Emirates NBD charges AED 2.50 per SMS balance inquiry, slightly higher than FAB.
      • ADCB, on the other hand, offers free SMS balance updates for premium account holders.
  1. Annual Maintenance Fees
      • Emirates NBD standard account charges range from AED 100-300 annually.
      • ADCB offers free maintenance for basic savings accounts, provided customers meet the minimum balance requirement.
  1. Minimum Balance Penalties
      • Bank penalties for minimum balance violations tend to be similar across all three institutions, ranging from AED 25-100 per month.

FAB Bank’s fees are competitive, but the bank distinguishes itself with robust digital services and specialized account offerings for high-net-worth individuals. Using the FAB services, millions of people sending money abroad, receiving salaries include Lulu Salary Card balance and card payments.

Tips for Minimizing Banking Costs in the UAE

Whether you’re banking with FAB or any other UAE financial institution, there are several strategies you can apply to reduce your annual banking expenses:

  1. Use Free Digital Tools

Leverage FAB’s free mobile banking app to check balances and perform transactions. Online banking is not only convenient but cost-effective.

  1. Maintain Minimum Balances

Avoid penalties by ensuring your account meets the minimum balance requirements. Set up alerts to remind you when your balance is low.

  1. Bundle Services

FAB offers bundled packages for savings, current, and credit card accounts. Bundling may reduce individual fees, making it a more economical choice.

  1. Opt for Email Notifications Over SMS

Save AED 2 per inquiry by switching from SMS notifications to free email updates for account activities and balance summaries.

  1. Monitor Account Activity

Regularly reviewing your bank statements can help you spot unnecessary fees or charges and take action to reduce them.

  1. Ask About Promotions

FAB frequently runs promotional offers for account holders, such as fee waivers or cashback incentives. Stay updated to take full advantage.

Also read: Unlocking Opportunities with UAE Off-Plan Properties: A Guide to Dubai and Abu Dhabi 

Make Smarter Banking Choices in the UAE

Understanding your bank’s fee structure is a critical step toward smarter financial decisions. While FAB Bank provides plenty of value with its expert-curated services and robust digital offerings, keeping track of account fees and charges can ensure you’re not overpaying.

By leveraging FAB’s free digital tools and avoiding unnecessary charges, you can make the most of your banking experience while saving money. Whether you’re a long-time customer or considering opening a FAB account, identifying the services that align with your needs and budget is key to successful money management.

Got questions about FAB Bank accounts or fees? Share your thoughts in the comments below!