Founded in 2007 and originally founded by Dubai Financial Group, Dubai First is a credit card and consumer finance brand owned by First Abu Dhabi Bank (FAB), focusing on providing flexible credit solutions and digital services to UAE residents. Headquartered in Dubai, UAE, Dubai First benefits from the parent company's strong capital strength and extensive financial network as a sub-brand of FAB.
name
and background of the bank's basic information:D ubai First is a sub-brand of FAB, focusing on credit cards and consumer financial services. FAB was formed in 2017 by the merger of First Gulf Bank and National Bank of Abu Dhabi and is one of the largest banks in the UAE.
Scope of services:D ubai First's services mainly cover the UAE, providing financial products such as credit cards and personal loans. Its service channels include mobile apps and online platforms, making it easy for customers to manage their accounts anytime, anywhere.
Regulation & Compliance: As part of FAB, Dubai First is regulated by the Central Bank of the UAE and adheres to relevant financial regulations and compliance requirements.
Financial HealthSince
Dubai First is a sub-brand of FAB, its financial health can be referred to FAB's overall financial metrics. According to FAB's financial report for the second quarter of 2020, its capital adequacy ratio was 12.5%, the non-performing loan ratio was 3.9%, and the liquidity coverage ratio was 129%, indicating a solid financial position.
Deposit & Loan
ProductsDeposit :D ubai First mainly focuses on credit card and consumer financial services, and does not provide traditional deposit products.
Loan class:D ubai First offers personal loans with loan amounts ranging from AED 20,000 to AED 250,000 for a term of 12 to 48 months and interest rates ranging from 18.00% to 25.99% (decreasing balance interest rate). Applicants need to be UAE residents and work with an approved employer without payroll transfers.
list of common expenses
account management fee:D ubai First's credit card has an annual fee of AED 300, but only when AED 24,000 is spent may be waived later.
Transfer fees: Credit card balance transfers are subject to lower interest rates, depending on the amount and duration of the transfer.
Overdraft Fee: Interest charges will be charged on credit card overdrafts, depending on the product.
ATM Interbank Withdrawal Fee: Withdrawals made using the Dubai First Credit Card at non-FAB ATMs may incur additional fees, which are subject to the terms and conditions.
Hidden Fee Alert: Customers should be aware of possible additional fees such as minimum payments, late payment fees, etc.
digital service experienceDubai
First offers a mobile-first digital experience that allows customers to open an account, apply for a credit card, manage their account and more through a mobile app. The app supports real-time transaction notifications, bill management, reward points inquiry, and more. Apple
customer service quality
Dubai First offers 24/7 customer support, and customers can contact the customer service team via phone, email, and social media channels. However, according to some user feedback, the responsiveness and problem resolution efficiency of customer service could be improved.
security measuresAs
a sub-brand of FAB, Dubai First employs advanced security technologies, including real-time transaction monitoring and multi-factor authentication, to keep client funds and data safe. In addition, FAB is constantly strengthening its cybersecurity capabilities to combat increasingly sophisticated cyber threats.
Featured Services & DifferentiationDubai
First offers a variety of credit card products to meet the needs of different customers, including cashback cards, travel rewards cards and more. In addition, customers enjoy flexible repayment options and personalized financial solutions.
