AI-powered business account that works for you

No. Pemo is a financial technology platform, not a bank. Banking services and your business bank account are provided by ruya, a UAE-licensed, Shari'ah-compliant community bank. Your account is a real UAE business bank account held in your company's name, with its own IBAN. Pemo provides the platform on top: accounts payable automation, approvals, corporate cards, and ERP sync.

ruya is a UAE-licensed, Shari'ah-compliant Islamic bank. Its full legal name is Ruya Community Islamic Bank L.L.C., registered as an Islamic Specialized National Bank based in Ajman, with license number 01.01.08.067.2024.04 according to the Central Bank of the UAE registry.

The Business Bank Account is where your company's main money lives: you receive payments into it, pay vendors from it, make transfers, and earn profit on idle funds. The Card Wallet is a separate prepaid pool used only to fund your Pemo corporate cards. You can move money from the Business Bank Account into the Card Wallet at any time. Money cannot move back from the Card Wallet to the Business Bank Account.

Typically 1 to 3 business days once all required documents are received. No branch visits, no lengthy paperwork cycles that businesses often face with traditional UAE banks.

No. You can open your first business bank account with Pemo. Bank statements are optional during onboarding, and documentation requirements are assessed case by case by Pemo's and ruya's compliance teams.

No. There is no minimum balance, no maximum balance, and no account opening fee.

Yes, you can receive payments from international sources.

Not yet. The account currently supports AED transfers within the UAE. International payments are on the roadmap.

Up to 3.75% expected profit per annum, depending on the tenor you choose:

Tenor                   Expected profit rate p.a.

1 day                    2.50%

7 days                  3.00%

1 month               3.65%

3 months             3.75%

6 months             3.50%

12 months            3.50%

Rates are as per ruya's terms and conditions. Profit is paid at deposit maturity.

Minimum AED 5,000, up to AED 5,000,000.

You choose the duration, from as short as overnight (1 day) up to 12 months.

The subscription is AED 200 per month, currently discounted to AED 99 per month. The first 100 companies get a free subscription until the end of 2026.

AED 0.50 per local transfer, all-in (AED 0.47 fee plus AED 0.03 VAT). This is one of the most competitive local transfer rates in the market, with no minimum deposit or balance requirements.

No. No opening fee, no minimum balance.