Transacting with US dollars makes international transactions easier and avoids exorbitant transaction and conversion fees. However, opening US bank accounts outside the US and as a non-US citizen has proven difficult for freelancers and digital nomads.
Interestingly, digital banks like Grey are beginning to change this experience by simplifying the process of opening a US bank account from anywhere in the world, including the United Arab Emirates (UAE).
This article will show you quick steps to open US bank accounts in the UAE.
Read also: How non-US citizens can open a US bank account online
The United Arab Emirates Dirham (AED) is considered one of the most stable currencies in the world. Yet, while you might not be worried about local currency value fluctuations, opening a US bank account and transacting in USD in the UAE still has a number of benefits, including:
Convenience: Online banking has removed the limitations of the traditional banking system. With a US account, you can conveniently initiate international transactions from anywhere.
Swift international transfer: Using a US bank account makes receiving payments from international clients and enables faster transfers compared to using a local bank in UAE, which may take longer to process the transfer.
Easy integration with other payment tools: Payment platforms like Stripe and Paypal integrate seamlessly with US bank accounts compared to other currencies. It also makes it easier to pay for online purchases and subscriptions.
You can open and manage a US account without breaking a sweat using a reliable digital payment platform like Grey. Here’s how to get started.
Sign up on the Grey platform via the official website or mobile app. Follow these simple steps:
Visit Grey’s platform: Go to Grey.co or install and open the app on your mobile device. Click on “Get Started – it’s free.”
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Select the UAE as your country of residence and proceed to the next step.
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Complete your profile:
Create a strong password: Your password must be at least eight characters long and consist of a mix of uppercase and lowercase letters, numbers, and special symbols.
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Verify your email: Type in the OTP sent to your registered email address.
After registration, choose the purpose of your Grey account, such as receiving payments or saving in USD.
To activate your account, you’ll need to verify your identity as part of the KYC process.
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The verification process is typically completed within a few hours if your documents are valid and clear. It can sometimes take a few business days, especially if there are issues with the quality or validity of your uploaded documents and photo. Once approved, you’ll receive your US bank account details, and your account is ready to receive and send money.
A US bank account offers freelancers working with international clients more freedom to receive payments in USD without high conversion fees and easily connect to international payment platforms like Stripe or PayPal.
The UAE is a budding destination for digital nomads. Managing a US bank account from the UAE allows digital nomads to easily pay their subscriptions (e.g., digital tools and coworking spaces) in USD. It also streamlines international expenses and bypasses local banking restrictions for cross-border transactions.
Tourists and frequent travellers in the UAE can use US bank accounts to pay for their travel expenses. You can pay for your flight tickets, hotel bookings, and shopping with a US bank account.
Opening a US bank account in the UAE is simpler than ever. It connects you to the international business space and minimizes the complexities of international transactions. Grey offers freelancers, digital nomads, and travellers seamless, borderless banking tailored to their needs. A US bank account gives you an edge and the financial freedom to operate globally.
Sign up on Grey today and welcome easy international transfers.
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