Wio Bank is a digital financial platform established in 2022 with the goal of providing advanced banking services and products for individuals and businesses.
Wio Bank is regulated by the Central Bank of the UAE, with shareholders including Abu Dhabi Development Company ADQ, Alpha Dhabi Holding, e&, and First Abu Dhabi Bank (FAB). Founded on principles of flexibility, accessibility, and technological progress, Wio Bank aims to transform the banking sector by making it convenient and accessible for every client.
Wio Bank offers three main products in different rates:
- Wio Business (rates Wio Standard, Wio Plus)
- Wio Personal (rates Wio Essential, Wio Grow)
- Wio Invest
Wio Business
A product aimed at freelancers, startups, and small, medium, and large businesses, providing flexible and convenient banking solutions.
Overview and Key Features:
- Access to a Corporate Account
Joint financial management by multiple users with multi-level approval.Multi-Currency Accounts. Accounts in AED, USD, EUR, and GBP are available for international payments, with a guaranteed exchange rate for transfers from AED to USD.
- Automation of Accounting Operations
Integration of the corporate account with leading accounting platforms for managing invoicing, VAT, procurement, payroll, and other operations.Invoicing. Automated tools assist in creating invoices, generating instant Stripe links for bill payments, and accepting payments through POS terminals.
- Payroll Payments (WPS)
A simplified system for transferring employee salaries using WPS.
- Employee Bank Card
Employees can use physical and virtual cards for pre-approved expenses with set limits.
- Saving Spaces Account
Saving funds in separate accounts for tax payments, rent, and other bills.
- Wio Business Credit
Access to loans up to 250,000 AED for business development at low interest rates, with loan applications reviewed within 3 working days.
Wio Personal
A product for individuals, offering mobile and online banking solutions. Overview and Key Features:
- Spending with Wio
The Wio Personal Mastercard allows for the use of both personal and borrowed funds, switching between debit and credit modes on a single card, earning cashback on all expenditures. The card is available in both physical and virtual formats, enabling real-time transaction tracking and budget control.
- Wio Credit
Offering low-interest credit with a 60-day interest-free period and instant application approval. It provides the option to choose billing dates and enable autopayments to avoid missed payments.
- Savings Account
Savings with the best interest rates are available in two types: Fixed Saving Spaces and Saving Spaces. Fixed Saving Spaces offer higher interest rates for a fixed term, while Saving Spaces provide flexibility in money management, requiring no minimum balance and allowing instant access to funds.
- Investment Account
Access to over 2,000 UAE and US stocks, ETFs, and fractional shares through a single app with easy account funding and instant trading, starting from just $1.
- International Transfers
Secure money transfers to over 100 countries with competitive exchange rates and no hidden fees.
- Automated Recurring Transfers
The "Scheduled Transfers" feature allows for automatic regular payments to any valid IBAN, eliminating the need for manual reminders.
- Wio Carbon Calculator
Tracking and improving daily spending with environmental impact in mind, with the option to offset the carbon footprint through donations to restore the UAE's mangrove ecosystems.
Wio Invest
A product for private investors, offering a convenient online platform for managing investments. This includes access to various investment tools and services.
Wio Bank does not have its own ATMs, but cash withdrawals and deposits can be made without fees at First Abu Dhabi Bank (FAB) ATMs.
