Below are some of the features of Mashreq Neo accounts

Account Opening

• Mashreq Neo is a completely digitized bank account which requires no paperwork and takes less than 5 minutes to open a bank account. 
• All you need is a valid Emirates ID
• Mashreq Neo uses facial recognition technology in the application process
• Customers can open Current, Savings, NRI or NXT accounts through the mobile app.

Joining Offers

The promotion is open exclusively to Mashreq NEO customers whose Smart or Salary accounts were opened on or after 1 January, 2021 (“customers”) and who transferred first salary to their Mashreq NEO account during the period 7 August 2021 to 31 December 2022 (the ‘ Promotion Period’) Only customers with a net salary greater than AED 5,000 per month are eligible for this promotion

Mashreq Neo offers a cashback up to AED 2,500 for salary transfer accounts. This is available on current accounts such as Neo Smart and Neo Salary

Mashreq Neo Smart & Salary Customers will get additional cashback of AED 350 on the below activities performed within first 90 days of the account opening

Benefits

• International funds transfer
• Globally accepted Visa Platinum debit card to transact conveniently
• With a Neo account, you do not need to visit the bank branch and can resolve your issues from the comfort of your home on your mobile app.
• With the Neo savings account, grow your funds at a competitive interest rate of up to 1.1 percent per annum.
• Through the Neo digital banking application, you get access to global stock exchanges and the opportunity to invest directly into gold and foreign currency. 
• Mashreq Neo digital account offers numerous travel, dining and lifestyle benefits. 
• Without no initial deposit requirement, Mashreq Neo is ideal for students and housewives in the UAE. 
• Participate in the weekly Mashreq Millionaire draws and get a chance to win up to AED 1 million. 
• Earn Salaam Points on every transaction you do using Salaam eligible credit and debit cards. Redeem the loyalty points to avail of attractive discounts on various travel, lifestyle and entertainment expenses, including movie tickets at Novo cinemas. 
• Quick Remit - With a Mashreq Neo digital account, you can transfer funds to over 30 countries and send money to India and Pakistan with a minimal processing fee. The Quick Remit facility sends money to your home country within 24 hours and the service is available round the clock through the Mashreq Neo mobile application. 
• Convenient Bill Payments - With a Mashreq Neo digital bank account, you can conveniently pay utility bills. Pay DEWA, SEWA, Etisalat, Salik, school fees, etc. with a few simple clicks using the Mashreq Neo mobile application. 
• Zero Paperwork. Mashreq Neo account is easy to open with almost no paperwork. All you need to do is to register using the Neo mobile application. 
• Easy Instant Loans - Being a Mashreq Neo digital account holder, you can apply for credits of up to AED 20,000 in less than 2 minutes with minimal documentation. Additionally, you get flexible repayment tenures ranging from 1 to 18 months. 
• Neo Insurance - With the Neo accounts, you can avail of worldwide Digi-term and critical insurance cover in no time. In addition, you can apply for comprehensive and third-party car insurance online without having to visit the branch. 
• Different Accounts as per Your Needs - You can choose from various savings and current accounts depending on your financial needs. The current accounts are further sub-classified into salary and non-salary accounts, and you can opt for them as per your requirements. 
• Global Investment Options - Mashreq Neo provides global investment opportunities such as forex and stock trading, gold investments with competitive pricing and live access to foreign currencies. 
• Mashreq Millionaire Certificate - When you buy a Mashreq Millionaire Certificate worth AED 1,000, you get a chance to participate in monthly and quarterly draws with the opportunity to win up to 1 million AED. 

Top Reasons to Choose Mashreq Neo Digital Bank Account

With a full-fledged digital banking service, the Mashreq Neo offers impeccable features and benefits to the customers. If you are looking for a digital bank account in the UAE, you can consider the following reasons to choose Mashreq Neo digital bank account.

Save or Trade as per Your Need - Mashreq Neo offers a range of savings and current accounts that you can choose as per your needs. Mashreq Neo Max saver account offers an interest rate of up to 1.1% to grow your savings, while you can invest in global currencies using your current accounts.

Rewards and Offers - Apart from the joining bonuses, you earn rewards on each and every transaction you do using the Mashreq Neo debit card and Salaam points eligible credit cards. Pay for retail shopping using MashreqPay and earn up to 5% cashback. Additionally, if your salary is transferred into the Mashreq Neo current account, you can earn cashback up to AED 2,500.

Fast, Reliable and Secure - With the changing banking system, Mashreq leaps a step ahead with Neo digital accounts that offer complete reliability, security and lighting fast service at your fingertips.

Single Platform for all Banking Services - With Mashreq Neo mobile application, you can access all the banking services from the comfort of your home. You can conveniently open your bank account, resolve your queries and register complaints using the mobile application.

Quick and Convenient Fund Access - Mashreq Neo comes with a Visa platinum debit card to withdraw funds from ATMs in the UAE. Additionally, you can always use the debit card to pay your funds online.

Eligibility Criteria for the Mashreq Neo Digital Bank Account

Before applying, customers need to make sure they fulfil the eligibility criteria for the Mashreq Neo digital account. Following are the basic eligibility criteria to apply for the Mashreq Neo account.

• Nationality - An Individual must be a UAE national or resident with a valid Emirates ID
• Age - Applicant must be at least 18 years old or above
• Salary Requirements - The individual needs to have a minimum monthly salary of AED 5,000 or above
• For entrepreneurs and small businesses, the annual turnover of their business must be at least AED 60,000.
• Documents Required for Mashreq Neo Digital Bank Account

Since the Mashreq Neo bank account is available only to UAE nationals and residents, you only need your Emirates ID to register on the Neo mobile application. The documents are similar for entrepreneurs and small businesses as well.

How to Apply for the Mashreq Neo Digital Account?

To apply for the Mashreq Neo digital account, you need to download the mobile application from App Store or Google Play Store or visit the Mashreq Neo online banking portal and follow the instructions given below -

• Open the Neo mobile app and tap on ‘New to Neo’
• Register by entering your personal and contact details
• Then enter your employment details
• Follow along with the steps as mentioned
• Upload your Emirates ID
• Subsequently, enter your tax details and delivery address
• Create your login credentials
• Deposit or transfer funds in your Mashreq Neo account.