Wio Bank, FAB unite to offer Wio Business customers cash & cheque facilities

By Shilpa Annie Joseph, Official Reporter
  • Follow author on
FAB, Magnati tie up with Geidea
Rep. Image | Courtesy: WAM

Wio Bank, the region’s first platform bank, is partnering with First Abu Dhabi Bank (FAB) to offer its Wio Business customers cash and cheque facilities through FAB’s established ATM and CDM network.

The Wio Business app has been integrated with the FABePay portal in order to allow users to initiate cash or cheque deposits in a simple and convenient manner directly in the app, providing a unique reference number to be used on every deposit transaction.

According to the statement, “The code can then be used at any FAB cash deposit machine (CDM) using the ‘Wio deposit’ service to complete the transaction. Information used to generate the reference number is automatically matched with the deposit, ensuring a safe and secure transaction.”

Sanjay Sethi
Sanjay Sethi
Head – Global Transaction Banking

“FAB believes in the transformative power of technology to deliver a simpler, more convenient, and smarter experience for customers, while also meeting specialized banking needs. We’re delighted to partner with Wio Bank to offer a convenient and seamless solution for cash and cheque deposits. Wio Bank has brought a new and innovative approach to banking, and we look forward to working together to support its growth.”

Mr. Jamal Al Awadhi, Chief Operating & Experience Officer, Wio Bank, said that, “This is a milestone collaboration in our journey towards strengthening our product and service suite under the Wio Business umbrella.”

“As one of the key shareholders of Wio, FAB helps provide Wio customers the benefit of utilizing their wide scale of reach and operations in the UAE. We are very grateful to be partnering with FAB to enhance our service offering and deliver on our promise to bring easy and simplified banking solutions to our customers,” Mr. Al Awadhi further added.

Related: Tradeling taps into Wio Bank’s financial management solution, Wio Business