Zand Bank FAQ: corporate accounts, payments, custody and Zand AED
This Zand Bank FAQ answers the questions of corporate clients in full on this page: who can open an account, how users and approvals work, how transfers and term deposits run, where fees are published, how digital asset custody is protected and how Zand AED is backed.
Digital asset services: Virtual Assets may lose their value in full or in part, and are subject to extreme volatility. The investor can lose all the money or other value they invest, and does not benefit from any form of financial protection. Full risk disclosure for digital asset services
29 answers in eight groups. Last reviewed . Where Zand Bank has not published a figure, the answer says so.
Accounts and onboarding
Who Zand Bank serves and what a company needs before it applies.
Who can open an account with Zand Bank?
Companies and institutions can open an account with Zand Bank. The bank addresses corporate, institutional, fintech and wealth clients in the UAE and globally, and publishes no personal banking product. The eligibility criteria and the list of required documents are not published, so confirm them with the Relationship Centre before you apply. The step-by-step account opening guide explains the usual stages.
How many users are needed to open a corporate account?
At least two users are needed, unless the company is a sole proprietorship. A sole proprietorship can be operated by a single user only. Every other company needs a Maker, also called an Inputter, who enters the account details, and an Authoriser, who authorises the opening. Decide who will hold each role before you start the application.
Can a company open more than one account?
Yes. A company can open multiple accounts across the currencies Zand Bank offers, as its business needs require, if it meets the eligibility criteria. The bank does not publish those criteria or the list of account currencies. Ask your Relationship Manager or the Relationship Centre to confirm both before you request another account.
Does Zand Bank offer personal accounts?
No. Zand Bank publishes no personal account and no other retail banking product. Its products are for corporate, institutional, fintech and wealth clients, and it lists no mobile app or app store link. A release dated 5 July 2022 mentioned a future personal banking launch phase, but no retail product page exists today. Company owners can read about business account features and eligibility.
Users, approvals and online banking
How the people in your company are set up on Zand Digital Corporate Banking and how they are kept informed.
What user roles are available?
Six user types are available on Zand Digital Corporate Banking: Viewer, Inputter, Checker, Authoriser, Releaser and Administrator. What each user may do is set in your company's authority matrix. In account opening, for example, the Inputter, also called the Maker, enters the details and the Authoriser authorises them.
What is the authority matrix?
The authority matrix is the set of rules that governs what each user of your company can do on Zand Digital Corporate Banking. The rules for the six user types are set in it, and every transfer request follows the workflow it defines before the payment is processed. The glossary of terms gives a general definition.
How far back can I see transactions online?
You can see the last six months of transactions online. Older transactions appear only on account statements, and statements are kept from the day you opened your account. Statements, and credit and debit advice, can be downloaded as PDF files from corporate online banking.
How am I told about pending tasks?
You are told by SMS and by email. Zand Digital Corporate Banking sends both notifications whenever a new task is waiting for you, so you do not need to stay logged in to see it. If the notifications do not arrive, contact your Relationship Manager or the Relationship Centre on +971 600 502 328.
Where do I log in?
The Zand Bank login for corporate online banking is at corporate.zand.ae, a separate host from this site. The Log in link at the top of every page opens it. Check that the address bar shows corporate.zand.ae before you enter your details, and report anything suspicious to [email protected].
Payments and beneficiaries
How transfers are entered, approved and priced in corporate online banking.
Which transfer types are available?
Four transfer types are available in corporate online banking: Own transfer, Within Zand, Domestic (AED to AED) and International (other currencies). Every request follows your company's authority-matrix workflow before it is processed. The Repeat transfer option copies a previous transfer, so a regular payment does not have to be entered again.
How long does it take to add a beneficiary?
Adding a new beneficiary takes up to 24 hours, depending on your company's workflow. One-time (ad hoc) beneficiaries are also allowed, for a recipient you do not want to save. Add regular suppliers and payroll recipients ahead of the first payment date, so that the 24 hours do not delay a payment.
How is the exchange rate shown?
The exchange rate is shown on screen when you make a transfer in a foreign currency. Corporate online banking displays the conversion details and the rate for that transfer. Zand Bank does not publish its FX margins, so compare the rate shown with a market reference before you approve a large payment.
Where are the settlement instructions and SWIFT details?
They are in Zand Bank's Standard Settlement Instructions, which the bank publishes as a PDF document on its website. Settlement instructions normally give the SWIFT/BIC code and the correspondent bank for each currency. This page does not repeat the Zand Bank SWIFT code: take it from the current document or from your Relationship Manager, so that an outdated value is never used.
Deposits and sub-accounts
Term deposits for surplus cash, and what must happen before a sub-account is closed.
Which term deposits are available?
Term deposits are available in AED, USD and EUR, across various tenors of up to 1 year. Zand Bank does not publish deposit rates, so ask your Relationship Manager for the rate on the tenor and currency you need before you place the deposit.
Can I withdraw a term deposit early?
Yes. You can withdraw a term deposit in part or in full through the Deposits menu of corporate online banking. The conditions of an early withdrawal, such as any change to the rate or any charge, are set by the terms of your deposit. Read them, or ask your Relationship Manager, before you withdraw.
How do I close a sub-account?
A sub-account can be closed once its balance is zero, so move or pay out any remaining funds first. A blocked account is a different case: it is handled through your Relationship Manager or the Relationship Centre on +971 600 502 328, who can also confirm the closure steps for your company.
Fees
Where the schedule is and how custody is priced. No amount is restated on this page.
Where are fees published?
Fees are published in Zand Bank's Corporate Banking Fees and Charges schedule, a PDF document. The fees and charges page of this site sets the schedule out as tables and answers the minimum balance question. If a figure on any page differs from the schedule, rely on the current schedule or ask your Relationship Manager.
How are custody fees set?
Custody fees are tiered by the amount of assets under custody and by transaction volume. Zand Bank publishes no custody fee figures. For a quote, contact your Relationship Manager or write to [email protected]. The digital asset custody details page explains what the service covers, and the risk disclosure for custody clients sets out the risks.
Digital asset custody
Custody is provided under VARA licence no. VL/2024/12/001, to Institutional Investors and Qualified Investors only.
Who can use the custody service?
Institutional Investors and Qualified Investors can use it; retail clients cannot. VARA licence no. VL/2024/12/001 permits Zand Bank to serve those two investor classes only. The bank names financial institutions, banks, corporate clients, Virtual Asset Service Providers, digital asset exchanges, market makers and liquidity providers as users of the service. Read the risk disclosure for digital asset custody before you apply.
How are client assets segregated?
Each client's assets are held in dedicated wallets and are not commingled with the bank's own assets. Zand Bank bases bankruptcy remoteness on three points: UAE federal law on assets held in custody for a third party, VARA's Custody Services Rulebook, and its own Custody Service Terms and Conditions. Ask for the terms, and read about the risks of holding virtual assets, before you transfer assets.
How are private keys secured?
Private keys are protected in Hardware Security Modules (HSMs) located onshore in the UAE. Zand Bank describes the modules as FIPS 140-3 compliant and lists multi-signature, a Threshold Signature Scheme and 4-eye checks on every transaction authorisation among its controls. The security and key management page has the detail. Strong key storage does not remove the risks that remain with virtual assets.
Which networks are supported?
Bitcoin, Ethereum, Polygon and Solana are the networks Zand Bank names on its custody page, which adds "& More". The full list of supported networks and tokens is not published; request it from your Relationship Manager or [email protected] before you plan a transfer. API integration is marked as coming soon. See the risks of virtual asset transfers.
Zand AED
Zand AED (AEDZ) is a dirham stablecoin issued by Zand Trust, a wholly owned subsidiary of Zand Bank PJSC.
Who issues Zand AED?
Zand Trust issues Zand AED (AEDZ); Zand Bank PJSC is not the issuer. Zand Trust is a wholly owned subsidiary of Zand Bank PJSC. In a release dated 17 November 2025, the bank said the Central Bank of the UAE had approved the launch of Zand AED. The Zand AED issuer and reserves page has the detail, and the risk disclosure for virtual assets and stablecoins applies.
How is Zand AED backed?
Zand AED is backed by reserves of cash and UAE Monetary Bills, held for the benefit of token holders. On the Zand Trust transparency page showed AED 806.3M in circulation and AED 806.4M of reserves; the figures change daily. The same page lists monthly Audited Reserve Reports for February to September 2026. The guide to how AED stablecoins work explains reserves, and the risks of holding a stablecoin are set out separately.
Does Zand AED pay interest?
No. Zand AED pays no interest and no other benefit linked to the time you hold it. The Central Bank of the UAE's Payment Token Services Regulation (Circular No. 2/2024) does not allow an issuer to pay such benefits to holders of a payment token. Zand AED is a means of payment and settlement, not a product that earns a return. See the stablecoin risk disclosure.
How do I redeem Zand AED?
Zand AED is redeemed with Zand Trust, its issuer, which states that AEDZ is always redeemable 1:1 for UAE dirhams. ZandMint, Zand Bank's on-ramp and off-ramp, converts between bank money and stablecoins, AEDZ included. The redemption steps, fees and minimum amounts are not published on zand.ae, so write to [email protected] first. Read the risks for stablecoin holders.
Regulation and complaints
Who supervises Zand Bank and what to do when something goes wrong.
Who regulates Zand Bank?
Two authorities regulate Zand Bank PJSC. It is licensed by the Central Bank of the UAE as a bank, and it holds VARA licence no. VL/2024/12/001 from the Dubai Virtual Assets Regulatory Authority for Custody Services, issued on 9 December 2024. The licence numbers and registers page gives the register entries, and the guide to UAE licences explains the difference.
How do I make a complaint?
Send your complaint through the complaints form or by email to [email protected]. Zand Bank contacts you within 2 business days. Resolution takes up to 4 weeks, and some complaints take up to 8 weeks. Complaints are handled internally and no fee is charged. The full complaints procedure lists each step.
How do I escalate to Sanadak?
You can escalate to Sanadak within 6 months of Zand Bank's final response. Sanadak is the UAE ombudsman unit for complaints against financial institutions and insurers that the Central Bank of the UAE licenses. Lodge the complaint on the Sanadak website, in the Sanadak mobile app or by phone on 800 SANADAK (7262325). Complete the bank's own complaints process first.
Still need help?
Call the Relationship Centre, or write to the address that matches your question. Zand Bank's help pages use two names for the phone line, Contact Centre and Relationship Centre; the number is the same.
To see every channel and the office address, contact the Contact Centre. For background, read about the bank, browse the Insights guides or return to the Zand Bank home page.
Answers are general information and are not investment, legal or tax advice.
Support channels
- Relationship Centre
- +971 600 502 328
- Opening hours
- to be confirmed
- General enquiries
- [email protected]
- Complaints
- [email protected]
- Fraud reports
- [email protected]
- Digital assets
- [email protected]
- Escrow
- [email protected]
- Office
- Emaar Square, Building 6, Level 1, P.O. Box 62593, Dubai, UAE
- Last reviewed
Talk to the Relationship Centre
The contact page lists every channel, the office address and the complaint steps.