+971 4 501 3974 info@invoicebazaar.com

Virtual Bank Account in UAE

For those of you that would have tried opening a bank account for your business in the UAE, you would know that this is an extremely complex process. We have a solution for you in case you do not intent issuing cheques and plan on banking completely online.

We can set up a Virtual Bank Account with IBAN in the name of your company for receiving payment from your customers. A “Virtual Account” is a sub-account of Invoice Bazaar and we would make further payments to you as per your chosen bank account. This can be set up with a quick turnaround after you have completed our KYC Requirements.

  • Virtual Bank Account

    Open your UAE Virtual Bank Account with IBAN

  • We agree to all the terms of service and privacy policy of Invoice Bazaar. We understand that the Virtual Bank Account holder has no direct relationship with Commercial Bank of Dubai. We understand that this service is provided by Invoice Bazaar Forfaiting Services LLC, a limited liability company with allowed activities of Forfaiting Services and Payment Services Provider.    

How does this work?

FAQs

Invoice Bazaar is a UAE based Receivables Finance platform and a Payment Services Provider that facilitates suppliers get early payment from Buyers. Invoice Bazaar was setup in 2016 and has been an active player in the world of Receivables Finance/Supply Chain Finance
Invoice Bazaar has partnered with Commercial Bank of Dubai (https://www.cbd.ae/) to facilitate creation of Virtual Account for its clients. We can create a Virtual Account with an account number and IBAN so that you could advise this account number to your customers for receiving payments from them.
The account number provided to you from Invoice Bazaar would be unique with a separate IBAN which would be acceptable to your clients as this is a UAE bank account number with Commercial Bank of Dubai, a leading UAE bank
Invoice Bazaar can remit funds to bank account details maintained with us within 24 hours of receiving payments. If the bank requests for any additional documents related to the transaction, Invoice Bazaar will seek for documents as we will not have any access to your transaction documents.
Getting started is easy! Just fill in the sign-up form and our Customer Onboarding team will take you through the process
An AED virtual account has a cost for Account Opening, Monthly Maintenance Fees and Transaction Charges. The Actual pricing is dependent upon the volume of transactions in the account.