Liv becomes first digital bank in MENAT region to offer digital joint account opening

2 Min | 08 May 2024

Additional account holder can be added via an invite code through a completely digital process
The facility is open to family, friends and business partners

Dubai, UAE, 8 May 2024: Liv, UAE’s first digital bank launched by Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has introduced digital joint accounts for new customers. A trailblasing initiative in the region by a digital bank, the account opening process is completely digital, with new-to-Liv customers enjoying all the benefits of traditional joint accounts, including paying shared bills, saving for common goals and receiving two debit cards.

Customers opening joint accounts with Liv can select their banking partner, including friends and business partners besides family members and spouses, by sending them an invite code. The account opening process is completely digital, with Liv benefits available to account holders and an interest rate of up to 4%. Further, customers receive two debit cards for everyday payments, and can pay shared bills and maintain savings for common goals through this offering. Existing Liv customers will also be able to convert their accounts to a joint account facility via web facility, soon also available via the mobile app.

Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, said: “As Liv continues to offer pioneering innovations in digital banking, a completely digital joint account banking product is an important addition within our portfolio to provide customers with an exceptional banking experience. By introducing such an innovation, Liv continues to anticipate customer’s needs and solidify its position as a champion of digital banking in the UAE. We remain committed to supporting the UAE’s vision of innovation and contributing to making the financial services sector a centre of excellence in the industry and worldwide.”

Pedro Sousa Cardoso, Chief Digital Officer, Retail Banking and Wealth Management, Emirates NBD, said: “As banking, payments and financial services in general become increasingly digital, Liv addresses the need to redefine an experience for families and individual customers who prefer simple, secure, accessible and digital transactions. With digital first products that are new to the market, Liv continues to give UAE customers an innovative alternative for banking that is powered by technology, thus enabling their lifestyle.”

Liv has many first-in-the-region offerings among digital banks. Liv led the region in offering a digital lending proposition with zero fees for its customers and introducing a Digital Salaried Bonus Multiplier Account whose gamified structure rewards customers through enhanced interest rates and cashback. More recently, customers saw a Livionnaire raffle draw Deposit, and the Money Ahead Deposit, a fully new product concept with a four-month fixed deposit offering at 4% interest upfront on day one, instead of customer having to wait for the deposit maturity.

Liv also offers the only credit card in the region that enables one-click reward switching between Skywards miles and cashback, as well as the popular Goal Savings Accounts, a one-of-a-kind digital product that allows customers to set automated rules (for example, pay-yourself first and round up spends to savings goal accounts) to easily save money for their financial goals, all the while earning attractive returns on their balances.

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