A company does not always need a full traditional UAE banking relationship to collect AED or pay a local supplier. It does need an approved account structure, a clear UAE use case, and the correct local payment rail.
International companies often need AED for a narrow reason. They may pay a warehouse in Dubai, collect from a UAE corporate buyer, or settle professional fees for regional operations.
A local AED account can remove the need to send every UAE payment as an international wire. The permitted activity still depends on the company, counterparties, and regulated partner.
How local AED transfers work
UAEFTS is the Central Bank of the UAE's real-time gross settlement system. It processes transfers between participating banks and financial institutions through their Central Bank accounts.
The CBUAE describes UAEFTS as a continuously processed, transaction-by-transaction system. A business reaches it through its bank or regulated provider, not directly.
A local AED route can support payments to UAE suppliers, incoming payments from approved companies, and records with local references. A separate SWIFT route may be needed when money crosses the UAE border.
Why companies use UAEFTS
UAE counterparties pay through a domestic route
The payer uses the beneficiary name, UAE IBAN, amount, payment reference, and purpose code. It does not need to arrange an international SWIFT payment for the local AED leg.
AED payments settle through the Central Bank system
UAEFTS is an RTGS rail. Payment instructions are settled individually between participating institutions rather than netted at the end of the day. Provider cut-offs, incorrect details, compliance review, and account posting can still affect when the beneficiary sees the funds.
Payment purpose is recorded locally
UAE payments use purpose-of-payment codes. The selected code and reference should match the invoice, contract, and actual transaction.
UAE account details are required
To use UAEFTS, a company needs AED account details connected to a bank or regulated institution with access to the UAE system. A foreign bank account alone cannot receive a domestic UAEFTS payment.
HEVN can assess named AED account details through Zand or another available UAE partner. The partner provides the regulated payment service and account details. HEVN manages the application, access, payment workflow, and records.
Can a non-UAE company open one?
Potentially, but not automatically. The partner needs to understand why the company needs AED. Recurring UAE sales, supplier costs, a local subsidiary, or signed regional contracts create a clearer case than a speculative request.
HEVN reviews incorporation, owners, expected inflows and outflows, counterparties, contracts, invoices, monthly volume, and source of funds. The partner makes the final decision.
Local AED is not SWIFT
UAEFTS is a domestic AED rail. SWIFT is a messaging network used for cross-border payments.
Use local details when the payer and beneficiary can settle through UAE institutions in AED. Use SWIFT or another approved route when the payment starts abroad, leaves the UAE, or requires international correspondent settlement.
UAE transfers also use purpose-of-payment information. The selected purpose should match the real transaction.
Example: a European exporter receives AED
An Austrian company sells equipment to a UAE distributor and invoices in AED. After KYB, HEVN confirms whether an AED route is available. The buyer receives the exact beneficiary name and local instructions, sends from its corporate account, and includes the invoice reference and payment purpose.
The Austrian company can then pay an approved UAE supplier or convert and withdraw the funds. Conversion and international withdrawal are separate transactions with their own fees and reviews.
How to open an AED account in HEVN
- Open Accounts in HEVN.
- Select Open account.
- Choose AED and the UAE FTS rail.
- Select the available UAE partner, including Zand when shown.
- Review the account type, expected opening time, and fees.
- Click Open AED account and submit the requested documents.
Prepare incorporation records, ownership information, director and UBO IDs, UAE invoices or contracts, expected turnover, and source-of-funds evidence. For a large first deposit, provide the sender and transaction details in advance.
Documents to prepare
- incorporation certificate and current company extract
- articles of association or equivalent
- shareholder, director, and UBO information
- IDs for owners and authorised users
- company website and business description
- UAE customer or supplier invoices
- signed contracts supporting expected AED transfers
- recent business bank statement
- expected turnover and transaction size
- source-of-funds evidence where required
For a large first payment, share the invoice, signed contract, sender, sender bank, amount, currency, and expected date in advance.
Move money between HEVN rails
The company's approved routes are connected inside HEVN. A company can receive USD through ACH, convert the required amount to AED, and withdraw through its named UAE account details. It can also collect AED locally, convert to EUR, and withdraw through its named SEPA details.
The deposit, conversion, and UAEFTS payment are separate transactions with separate fees and review requirements.
HEVN is not a UAE bank and does not provide direct access to UAEFTS. Services are supplied through regulated partners and remain subject to KYB and transaction monitoring.
Need help confirming the AED route? Book a call with the HEVN team.
