Wio bank launches new ‘Grow’ business plan for SMEs in the UAE

By Leandra Monteiro

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

‘Grow’ comes boosted with benefits such as guaranteed interest on savings, free processing of salary transfers via Wage Protection System (WPS), and guaranteed USD exchange rate of AED 3.673 on US Dollar accounts. The enhanced offerings under the new plan are designed to make banking simpler, more accessible, and cost-effective for small and medium-sized businesses (SMEs) in the UAE.

A prominent benefit that comes with the new plan allows SMEs to earn 1% interest per annum on their savings with Wio Business ‘Grow’ plan. As a special sign-up offer, SMEs who open a Wio Business account and create a ‘Saving Space’ on or before 30 April 2023 can earn 3% interest per annum for the first 90 days.

Jayesh Patel, CEO of Wio Bank said, “As a key contributor 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, enabling them to scale their business. As we further enhance our offerings for customers, our aim is to empower SMEs and help them achieve success. Priced at just AED 249, the ‘Grow’ plan offers many industry-first benefits such as discounted fees across payments, guaranteed interest on savings, and free salary transfers, created with the intent to deliver value to our customers. In just five months since launching, Wio has signed up over 10,000 SME customers, averaging 2,000 new accounts every month, quickly becoming one of the leading banks tailored for SMEs in the UAE.”

The ‘Grow’ plan, which is tailored to serve the specific banking needs of SMEs, is the second plan being introduced by Wio Business. The plan is launched in line with Wio Bank’s ‘Ready. Set. Grow’ campaign which is focused on enabling SMEs to accelerate their business.