The First Abu Dhabi Bank, or FAB, as it is commonly known, is the bank of choice for the majority of Emiratis. It has captured a significant chunk of the UAE’s financial market because of its customer-centric policies and integration of technology with its operations.
From opening your account, checking your balance, getting your account statement, and transfer, and a host of other services, you can perform them online from the comfort of your home without visiting the branch in person. The bank prides itself on its digital services, keeping it ahead of the competition.
Here, we will guide you on transferring the balance from the FAB account. The process is straightforward and comprises a few easy-to-follow steps that you can smoothly execute without any external help after you have gone through them once or twice. So, let us walk you through the process below.
FAB balance transfer explained:
For the sake of convenience and easy understanding, we have divided into two broad categories as follows;
- Transfer within FAB
- Transfer to other banks
Transfer within FAB:
Let’s begin by acquainting yourself with the process of transferring the balance from your FAB account to another FAB account. You can use this method to transfer money from accounts or cards to another FAB account or card.
After you have logged in with your username and password using the bank’s website or the FAB app, do the following.
Click “Transfer within FAB.”
Select “Between Own Accounts/Cards”
Now, choose “New Payment” or “Use Saved Templates .”The saved templates option includes details of beneficiaries you have already sent payments to. If the intended beneficiary is not included in that list or you are making your maiden internal FAB balance transfer, you will click on the first option.
Now, enter the account or card details.
Once you are done and have rechecked the information, click “Send Transfer,” and that’s it. Your payment has gone through
Transfer to other banks:
This service allows you to transfer money to other banks in the UAE and anywhere in the world. Let’s look at it now.
After logging in with your credentials, go to “Transfer to Other Banks.”
Select between “New Payment” or “Use Saved Template”
Enter details under “Beneficiary Bank Info” and “Debit Information.”
Now, choose the transaction currency and the amount.
Before you hit the “Send Transfer” option, you must decide who will bear the bank charges involved in the transaction. It’s your choice; you can let the beneficiary pay those charges or bear them yourself. If you go for the former option, the beneficiary will receive less after the bank charges have been deducted from it. So, decide and click “pay less charges” or “pay in full.”
Now press “Send Transfer” to send the balance.
That was all about FAB balance transfer internally and externally. As you have seen, it is a simple process that anyone can master.
Precautions while transferring balance:
To be on the safe side, take care of the following before and after you have transferred the balance.
- Use a secure connection and secure devices (if you are not using yours) for the transactions
- Always use a strong password and keep changing it
- Before sending the balance, review the transaction details to avoid any future inconvenience
- Keep your software updated; it includes your operating system, browser, and banking app
- Enable two-factor authentication for any online transactions. It minimizes risks of misuse and fraud
- In case of any suspicious or unsolicited transaction, contact the bank’s helpline immediately
Send payment with the speed of light:
That was all about FAB balance transfer. As you have gauged, it is a simple process you can quickly learn. Remember the precautions we have outlined for online balance transfers to keep yourself safe. Enjoy smooth and fast digital banking transactions.
Author Bio: Zaynah Amatullah, a dynamic blog writer, navigates the intricacies of banking and insurance with finesse. With a passion for dissecting financial landscapes, Zaynah’s succinct and insightful articles provide readers with a clear understanding of these industries. Her engaging narratives make complex financial topics accessible and captivating.