Wio Bank launches new ‘Grow’ business program for SMEs in UAE

by Leandra Monteiro

Wow bank PJSC, the UAE’s first digital banking platform, has announced the launch of a new ‘Grow’ business plan for Wio Business customers, introducing a range of benefits to support business growth.

“Growth” benefits include guaranteed interest on savings, free processing of salary transfers through the Payroll Protection System (WPS), and a guaranteed USD exchange rate of AED 3.673 for USD accounts. The enhanced offerings under the new scheme aim to make banking simpler, more accessible and cost-effective for small and medium enterprises (SMEs) in the UAE.

A notable benefit brought by the new scheme is that SMEs can earn 1% interest per annum on their savings through the Wio Business “Grow” scheme. As a special registration offer, SMEs who open a Wio Business account and create a “Space Saver” on or before 30 April 2023 can earn 3% p.a. interest for the first 90 days.

Wio Bank CEO Jayesh Patel said, “As key contributors to the UAE’s economic vision, SMEs play a vital role in driving growth and innovation. At Wio, we are committed to empowering SMEs by providing tools that go beyond banking so that they The ability to scale your business. As we further enhance the services we offer our clients, our aim is to empower SMEs and help them succeed. Priced at just AED 249, the Grow program offers many industry-first benefits such as Cross-payment fee discounts, guaranteed savings interest, and free salary transfers are designed to create value for our customers. In just five months since its launch, Wio has signed up more than 10,000 SME customers, with an average of 2,000 new accounts per month, quickly becoming a One of the leading banks in the UAE tailor-made for SMEs.”

Tailored to meet the specific banking needs of SMEs, the “Grow” program is the second program launched by Wio Business. The program is launched under the “ready” status of Wio Bank. put. The Grow’ campaign focuses on helping SMEs accelerate their business growth.