Due to the pandemic condition of Coronavirus Disease (COVID – 19), the current situation all over the world is being quite disrupted. The Government of the UAE is taking necessary precautions to protect the residents from the virus. One of the unavoidable needs are banking services. Hence the Central bank of the UAE is encouraging the residents towards Digital Banking.
As public gatherings at this point of time are not safe, for the health and safety of the UAE residents, the Central Bank of the UAE (CBUAE) and UBF (UAE Banks Federation) has requested the residents to avail Digital Banking services.
Digital Banking
Digital Banking services may include internet banking, mobile apps, payment apps, digital wallets. One of the best advantages of the Digital Bankings services is they can be availed at any time and any place.
Most of the banks in the UAE provide internet banking services. Banking individuals can make use of it and complete their banking transactions, pay bills, get the status of the transactions, account details, request cheque book, and much more. Apart from this, banks also have their banking apps which can make banking easy.
Check: How to Save money using Digital Bank Accounts in UAE
Individuals can link their debit cards with mobile payment apps that are genuine to make payments using the mobile phone. By avoiding the usage of cash whenever it is possible will reduce the touching of payment terminals and also cash.
Customers who have not signed up for internet banking or any digital banking services can login for the services using their phone number. They can even contact their banks and get assistance to sign up.
Stay Alert
But while availing digital banking services, an individual must ensure that he is on the genuine platform. As always, it is recommended not to share your login details or passwords with anyone even if any person claims to be your bank employee. The CBUAE and UBF advises the residents to “Stay Alert”.
Point to Remember –Point to remember is, banks will never ask for confidential details like passwords, ATM or Credit Card pin, or to transfer your money from your account. For any assistance, customers can contact their bank on the phone and get the required information. While creating the internet banking account maintain it confidential and don’t share the details with the bank team as well.
This safety measure passed by the Central Bank of UAE and UAE Banks Federation is to reduce the spread of the Coronavirus amongst the residents.
About the author
Nikitha is a Senior Analyst at MyMoneySouq.com. She has been writing about personal finance, credit cards, mortgage, and other personal finance products in the UAE. Her work on Mortgage loans has been featured by the GulfNews and other popular Financial Blogs in the UAE.
