Mashreq has introduced a one-day account opening guarantee for business customers in the UAE, offering a cash penalty if the timeline is missed.

The service is available through NEO BIZ, the bank’s digital business platform.

Mashreq says it is the first bank in the country to guarantee a 24-hour turnaround for business onboarding.

If eligible customers do not have their accounts activated within a day, the bank will provide AED 1,000 in cashback.

To speed up the process, Mashreq uses artificial intelligence workflows, electronic KYC, and direct integration with local authorities.

This automated routing system reduces manual processing and allows faster account activation.

“The launch of our One-Day Service Promise comes at a pivotal time for companies navigating global uncertainty, evolving trade dynamics, and tighter liquidity conditions,”

said Fernando Morillo, Group Head of Retail Banking at Mashreq.

Morillo added that through initiatives like this, the institution is continuing to accelerate its transformation into a digital-first bank while redefining how businesses access financial services.

After onboarding, NEO BIZ users can access digital banking packages that feature no minimum balance requirements and free local currency transfers.

The bank is also offering tailored financial solutions, including loan deferments, for impacted customers facing liquidity pressures.

Featured image credit: Edited by Fintech News UAE, based on image by bunditinay via Magnific