SME Business Essentials account launched in Standard Chartered

Standard Chartered announced the launch of its SME Business Essentials account which aims to cater to the various financial needs of Small and Medium Enterprises (SME) in the UAE. The launch comes at a time when the bank is stepping up its support to SMEs in the country.

The SME Business Essentials Account requires the customers to maintain a certain average monthly balance and provides customers with cash management services to maximize working capital efficiency including payments and collections services.

Customers opening Business Essentials will get access to expert trade finance solutions, investment services and preferential rates on term deposits, foreign exchange rates, outward telegraphic transfers and payroll rates. Customers who open a Business Essentials account will also be assigned a dedicated and experienced SME Relationship Manager who will take care of all the business and financial needs of the SME Customers will also get complimentary access to the award winning internet banking platform Straight2Bank, which helps SMEs save costs and manage their banking transactions at their own convenience.

Commenting on the latest SME product, Sadia Saeed, Head of SME Banking, Standard Chartered UAE, said, “SMEs are key to economic diversification and as a customer focused Bank, we have been developing services and products that cater to their specific business needs. We have identified an increasing need for trade finance, foreign exchange, term deposits and treasury services among our clients. The SME Business Essentials Account is designed to provide financial solutions and access to the world’s fastest growing markets across the bank’s footprint.”

Standard Chartered has been operating in the UAE since 1958 and has the largest branch network among international banks. With 11 branches, three Electronic Banking Units and more than 130 ATMs and CDMs, the bank is ideally positioned to service its clients in the country.

Press Release