RAKBANK vs Wio Business: what each publishes
As of October 17, 2026, we hold no rule from RAKBANK or Wio Business on the 7 industries we track; below, side by side: where each takes companies from, its fees, its terms on closing accounts and its licence.
Not a ranking: the two names are in alphabetical order. The free check applies every provider’s rules to your own answers.
Where it takes companies from
Policy by industry
| Industry | RAKBANK | Wio Business |
|---|---|---|
| Crypto | No published rule | No published rule |
| iGaming | No published rule | No published rule |
| Adult | No published rule | No published rule |
| Unlicensed financial services | No published rule | No published rule |
| AI and SaaS | No published rule | No published rule |
| Forex and CFD | No published rule | No published rule |
| Marketplace | No published rule | No published rule |
Where owners must live
RAKBANK
No published rule
Wio Business
No published rule
Rules about countries
RAKBANK
Other requirements: … Any company with a valid trade licence to operate within the UAE
Wio Business
Any UAE-registered company with a valid trade license can open a Wio Business account fully digitally, including general trading companies, import/export businesses, and professional service firms.
Fees
RAKBANK
No fee we could verify
Wio Business
| Plan | Account opening | Monthly | Checked |
|---|---|---|---|
| Essential | Free to open ('Account opening fee Free') | AED 99 a month, VAT included ('Monthly subscription fee AED 99'); no minimum balance | · Source |
| Grow | Free to open ('Account opening fee Free') | AED 249 a month, VAT included; no minimum balance | · Source |
Closing an account
RAKBANK
Subject to any Additional Terms and Applicable Law, any Service may be closed, suspended or discontinued, in whole or in part, temporarily or permanently at any time, for any reason and except for Third Party Services, we will give you the required notice regarding any such closure, suspension or termination of Service.
Wio Business
We may suspend, restrict or terminate your Account or any Service at any time, in whole or in part, without notice to you and without any liability to you. Otherwise, we also have the right to terminate this Agreement with at least 14 days' written notice, or with shorter or immediate notice in certain cases.
Licence
| Licensee | RAKBANK | Wio Business |
|---|---|---|
| Licensee | The National Bank of Ras Al Khaimah (RAKBANK), on the CBUAE register as National Bank of R.A.K P.J.S.C · bank licensed by the Central Bank of the UAE (register number 01.01.01.032.1976.06) | Wio Bank PJSC · bank licensed by the Central Bank of the UAE (Abu Dhabi, CBUAE register 01.01.01.063.2022.01) |
| Regulator | CBUAE · | Central Bank of the UAE · |