WE’RE HERE
TO HELP

Wio Bank PJSC is an intelligent financial platform that reboots business and personal banking for everyone. With a holistic offering in one single app, Wio provides limitless options at the touch of a button. Its simplified and fully digital bank account opening, personalized options, and seamlessly integrated services are built around each client's needs, helping them spend, save, and plan for their life journey. Wio is regulated by the Central Bank of the UAE.

Meet the future of business banking through one intelligent app. Wio Business allows you to open your business account fast, automate your admin, manage your payments seamlessly, budget for VAT, and much more! We have advanced online services to suit a tech-loving generation and give business owners their time back.

Yes, go ahead and download the Wio Business app from the App Store or Play Store, and sign up!

Wio is regulated by the Central Bank of the UAE. We take all the necessary precautions to keep your account and payment services protected.

Wio Business accounts are available to UAE-based companies with a valid trade license.

Freelancers with a freelancer permit are able to open a Wio Business account.

You will need the following documents for a hassle-free Wio Business account opening:

1. Memorandum of Association (MOA)

2. Trade License

3. Power of Attorney (POA)

4. Board Resolution

5. Proof of address

Any of these documents will be accepted as proof of address:

• Title deed/UAE VAT filling

• Valid Ejari/tenancy contract

• Utility bill (last 3 months)

• Bank statement (last 3 months)

We will also need these documents from your partners (if any):

1. Valid Emirates ID

2. Valid Passport copy

3. Valid VISA (If applicable)

4. Trade License or certificate of incorporation

5. MoA

6. Shareholder Structure (Optional)

To complete the Wio Business account application process:

1. The company's authorized individual must have a valid Emirates ID and visa.

2. For the business partner's information, if they are a UAE resident, they must have a valid Emirates ID.

To complete the Wio Business account application process, the company must provide proof of address as evidence of its physical existence.

You can use any of the following as proof of address:

1. Title deed

2. UAE VAT filling

3. Valid Ejari/tenancy contract

4. Utility bill (last 3 months)

5. Bank statement (last 3 months)

If your local transfer is under AED 25,000, it should take a few minutes to be credited to your account.

If your local transfer is above 25,000, it can take up to 1 business day to be credited to your account These transfers are always processed before 9pm. They won't be processed on Sundays and UAE public holidays.

You can send money internationally from your available multi-currency accounts. You can receive money in AED, USD, EUR, and GBP, depending on the provided account IBAN.

While local transfers are always done in AED by default, if you provide a multi-currency IBAN, Wio will convert AED to the desired currency and credit your account accordingly. The applied exchange rate will be visible in your transaction history details.

We offer competitive rates on all FX transactions. Currency conversion rates vary based on prevailing foreign currency markets and can change daily

Currency - USD
Correspondent Bank Name: Citibank NA
BIC/SWIFT Code: CITIUS33XXX

Currency - GBP
Correspondent Bank Name: Citibank London
BIC/SWIFT Code: CITIGB2LXXX

Currency - EUR
Correspondent Bank Name: Citibank Ireland
BIC/SWIFT Code: CITIIE2XXXX

International transfers can take around 3 business days.

As this payment is coming via SWIFT,  reach out to the sender to confirm its whereabouts with the sending bank.  As the money hasn't reached Wio, it could be stuck with the sending or intermediary bank. This is the fastest way to locate the payment. 

If you haven't received your transfer after 3 business days, please share with us a copy of the Swift payment including the UETR number. You can ask the sender for the copy.

In some inward transfers, the transction fees can be shared between the sender and the beneficiary, if the sender has selected this. In this case, the sending bank will debit fees from the transfer amount and send the remaining amount to the Wio Bank account. In some of these cases, these fees are declared by the bank in the transaction message and in some cases they aren't. If we receive the charges by the sending bank, we'll show them in your transaction history as "Sender Fee".

There can be multiple reasons for this:

1. The sender may have selected the charge code as 'BEN' which means the charges would be paid by you, or 'SHA' which means the charges would be shared between the sender and you. In both of these cases, the sender bank or sender's correspondent bank may have collected the fee amount from the transfer amount and forwarded the reduced amount to your Wio Bank account.

2. The sender bank or the sender's correspondent bank might have converted the amount from a foreign currency to AED with a high conversion rate.

In some occasions, sender banks convert the payment to AED before sending it to Wio. Wio doesn't do any conversions if the payment currency matches the currency of the beneficiary account and only converts the incoming transfer to the currency of the receiving IBAN. In this case, reach out to the sender to understand why this happened.

We don’t charge any transaction fees on incoming transfers. However, sending or intermediary banks may charge a fee. If you receive less money than expected, please reach out to the sender.

On foreign currency outward transfers, we charge the Wio Transaction Fee as listed on our price plan.

If the charge code 'OU' is selected,  the sender will pay all charges, this includes: the correspondent banking fees and the Wio Transaction Fee.

If the charge code 'SHA' is selected, the sender and the beneficiary will share the charges. In this case, the sender will be charged the Wio Transaction Fee and the beneficiary will pay for all the correspondent banking fees, charged by all banks involved in the transaction. This fee will be deducted from the amount they receive.

Wio Business charges the following transaction fees on transfers.

Essential Plan: AED 52.50

Grow: AED 26.25

Correspondent Bank charges are:

• If you pay for all the fees, for USD, GBP and EUR, you'll be charged AED 63 (or 15.75 in multi-currency account)

  For SAR transfers, you'll be charged AED 27 (or AED 7 in multi-currency account)

  For INR transfers, you'll be charged AED 4 (or AED 1 in multi-currency account).

• If you share the fees with the beneficiary on USD payments above USD 1,000, USD 25 will be taken from the transfer amount and the beneficiary will receive less than the transfer amount.

• If you share the fees with the beneficiary on EUR payments above EUR 1,000, EUR 25 will be taken from the transfer amount and the beneficiary will receive less than the transfer amount.

• If you share the fees with the beneficiary on GBP payments above GBP 1,000, GBP 25 will be taken from the transfer amount and the beneficiary will receive less than the transfer amount.

• If you share the fees with the beneficiary on SAR payments, SAR 25 will be taken from the transfer amount and the beneficiary will receive less than the total transfer amount.

If you had selected the option to share the transfer fees between you and the beneficiary, the beneficiary bank and the intermediary banks may have collected fees from the amount you sent.

International transfers can take around 3 business days. If it's been 3 days already, reach out to us and we'll investigate.

The MT103 or transfer copy is available in your transaction history and your email.

It’s a Credit line designed specifically for fast-growing businesses, offering them a flexible way to manage day-to-day business expenses and boost their cash flow. It’s loaded on the customers’ existing Wio Business card and can be used for all online and physical purchases.

You can apply for Wio Business Credit from the mobile app home screen. Once applied, we’ll get back to you within 3 business days. If you don't see the application option, it might be due to you not meeting our eligibility criteria at the moment. The good news is we regularly re-evaluate. So, try again after a while.

For applying, we only require these 3 things:

1. A VAT statement for the last 6 months, or 2 quarters (if
   applicable).

2. Your company’s annual turnover.

3. IBAN for all your bank accounts.

1. Up to AED 250,000 credit limit.

2. One intelligent card for debit and credit. With a simple toggle in your Wio Business app, easily switch between debit and credit funds.

3. 0% interest on your borrowed money for up to two months.
   

The credit line is loaded on your existing Wio Business card, similar to a credit card. However, you can switch between debit and credit funds in the Wio Business app without the need to use another plastic. Please note that cash withdrawals is not allowed from credit funds.

There’s no annual membership fee. You can pay as little as 5% of your outstanding card balance each month and carry the balance forward to the next billing cycle. Pay only 3.45% interest per month on any outstanding credit balance.

Your Wio Credit can be used for all transactions made with your Wio Business card. Simply go to 'Cards', switch from 'My Money' to 'Wio Credit', and your credit limit will be used for your transactions.

For instance, if your repayment date falls on the 1st of each month and you spend AED 1,000 on the 2nd of June, you'll need to repay only the minimum (5% of AED 1,000) on the 1st of July to avoid any fee. To not pay any interest, repay the full amount by the 1st of August. This grants you a fee-free period for June and July.

The minimum repayment is 5% of your outstanding balance on the repayment date. Please make sure that your repayment meets or exceeds this amount.

You have two options for repayment:

1. Manual Repayment: From the Home screen, go to 'Wio
   Credit' and tap on 'Pay Credit+', choose the desired amount
   to proceed with the repayment.

2. Autopay: Ensure you have enough money in your current
   account. Autopay will automatically occur at 6pm on the
   repayment date.

The specific repayment date can be found in the 'Wio Business Credit' section, which you can access from the home screen. Autopay is scheduled to occur at 6pm on the set date.

Only completed transactions qualify for repayment. Pending transactions can’t be included. Repaying all completed transactions counts as a full repayment.

Interest is calculated as a fixed percentage of your outstanding balance on the repayment date and is charged monthly. However, if you repay the entire outstanding amount before the repayment date, no interest charges will be applied on that month.

The autopay will occur based on the outstanding balance on the due date. If you've made a payment earlier but still have an outstanding balance on the due date, autopay will proceed as scheduled.

Statements will be ready on the due date after autopay. From the home screen, go to the ’‘Wio Business Credit' section, tap on ‘Manage’, and select 'Download statements’.

We're digital, but you can reach out to our team through our call center on 600500946

Raising a complaint is easy, simple, and free of charge. Just get in touch through any of our contact channels and explain your issue. The advisor will raise the complaint for you.

If your complaint requires us to discuss your account, we may redirect you to another channel so that we can authenticate you.

If you have a query about anything related to the bank, the first step is to contact us using one of the methods below:

• Phone: 600 500 WIO (600 500 946)

• WhatsApp: 600 500 WIO (600 500 946)

Our agents will do everything they can to solve the issue. However, if you’re unhappy with the resolution, please let the agent know, and they will offer to raise a formal complaint.

If you choose to raise a formal complaint, the agent will pass the case on to a complaint handler. The complaint handler will examine your case to make sure we have acted in line with our internal processes and the law.

You will receive a written response within 30 business days with the outcome of your complaint. We may uphold, partially uphold, or reject your complaint and will explain the reason why.

If you’re unhappy with the outcome of the complaint investigation, you can let us know and send your complaint to our "Complaints Resolution Mechanism". This will be a second check to make sure the first check was correct.

Finally, if you still believe that you have not been treated correctly, you can contact Sanadak, the UAE’s Ombudsman Unit, by accessing this link www.sanadak.gov.ae.