Topic Overview

With Wio Business, you can easily manage all your local UAE transfers, pay corporate taxes, settle utility and transport bills, and transfer funds instantly between Wio accounts with zero hassle.

Part 1: Sending Local AED Transfers

Transfer Limits, Timelines & Fees

• Transfers up to AED 50,000: Processed instantly, 24/7.

• Transfers above AED 50,000: Processed during Central Bank operational hours (Monday to Saturday, 4:00 AM – 8:50 PM). Transfers submitted after 8:50 PM or on Sundays/public holidays are processed on the next business day.

• Daily Transfer Limit: The default daily transfer limit is AED 750,000, and you can adjust this limit in your app up to AED 5,000,000.

• Transfer Fees:

  • Grow Plan: Unlimited free local transfers.

  • Essential Plan: 10 free local transfers every month (then AED 1.05 per transfer, including VAT).

How to Send a Local Transfer

1. Log in to the Wio Business app and select Payments from the home screen.

2. Choose Local, then select a payee, or select Payees: View all to choose from your saved contacts (local payees display a UAE flag next to their name).

3. Under Which account would you like to send from, select your AED account.

4. Enter the amount you wish to send in AED, then tap Next.

5. Under What is the purpose of your transfer, select the appropriate Purpose of Payment (POP) from the list.

6. Under Would you like to Add a note to the payee, optionally type your message (avoid special characters).

7. Review your transfer summary on the Review details screen.

8. Perform Swipe to confirm and complete the security verification (passcode, biometric, or OTP).

9. You will see the Done screen confirming your transfer details. You can track this transfer anytime under your transaction history.

Part 2: Adding & Managing Beneficiaries

To keep your business funds safe, adding a new beneficiary involves a mandatory security verification and a brief cooling-off period before you can transfer funds to them.

Security & Cooling-Off Period

• Verification: When adding a new beneficiary, you will be prompted to complete Enhanced Facial Recognition (EFR) or enter a One-Time Password (OTP).

• Activation Times:

  • With Facial Recognition: Active after a 12-hour cooling-off period.

  • With OTP Verification: Active after a 24-hour cooling-off period (you can reduce this to 12 hours by completing facial recognition).

  • Preparer Role: Beneficiaries added by a Preparer require a 24-hour cooling-off period.

• Notification: You will receive a push notification as soon as the beneficiary is activated and ready for transfers.

Part 3: Wio-to-Wio Transfers (Instant & Free)

Transfers between Wio accounts (Wio Business or Wio Personal) are 100% free and instant, supporting both local and multi-currency transactions.

Supported Currencies

You can transfer funds to a Wio beneficiary in AED, USD, EUR, and GBP.

• Same-Currency Transfers (e.g., USD → USD, EUR → EUR): Instant with zero fees and no exchange rate conversion.

• Cross-Currency Transfers (e.g., AED → USD, USD → EUR): Instant with zero transfer fees; real-time competitive foreign exchange (FX) rates apply and are shown transparently before you confirm.

How to Add a Wio Beneficiary

1. Open the Wio Business app and select Payments.

2. Tap New Contact.

3. Select the beneficiary's country and preferred currency (AED, USD, EUR, or GBP).
   (Note: To send multiple currencies to the same contact, save the contact once for each currency).

4. Enter their Wio IBAN. The app will automatically validate the account and display the currency.

5. Enter payee details (Individual/Business, Name, Nickname, and Address).

6. Verify your identity to save the contact. Once the cooling-off period ends, the contact will display the Wio logo in your contacts list.

How to Send a Wio-to-Wio Transfer

1. Go to Payments and select a saved beneficiary marked with the Wio logo.

2. Under Which account would you like to send from, choose your source currency account.

3. Under How much would you like to send, enter your transfer amount.

4. Review the transfer summary under Here's a recap of your fees (displays channel, real-time FX rate if applicable, estimated time as instant, and transfer fee as free).

5. Select the purpose under What is the purpose of your transfer.

6. Add an optional note under Would you like to Add a note to the payee.

7. Check all details on the Review details screen.

8. Perform Swipe to confirm and complete your identity verification.

Part 4: Receiving Local & Aani Payments

Receiving Local Inward Transfers

To receive local transfers from another UAE bank, provide the sender with your Wio account details:

• Bank Name: Wio Bank PJSC

• Bank Address: Al Raha Beach, Al Muneera, Abu Dhabi, PO Box 112437

• Bank Code: WIOB

• Routing Number: 808610001

• Swift / BIC Code: WIOBAEAD (8 characters) or WIOBAEADXXX (11 characters)

• Account Number / IBAN: Your complete 23-digit UAE IBAN starting with AE

Receiving Local AED Payments into Foreign Currency Accounts (USD, EUR, GBP)

If a sender in the UAE transfers AED to your non-AED Wio account via the local instant network:

• The incoming AED is automatically converted to your account's currency using the live bank exchange rate at the time of credit.

• Instant Credit: Funds reflect in your account within seconds.

• Full Transparency: Your transaction history, app notifications, and monthly statements clearly show the original AED amount, the applied FX rate, and the final converted amount credited.

• Tip: To avoid currency conversion, provide the sender with your AED account IBAN.

Receiving Payments via Aani QR Code

You can receive instant payments by sharing your unique static QR code:

1. Go to the Payments tab in the Wio Business app.

2. Tap the QR code icon in the top right corner.

3. Share the QR code directly via WhatsApp, email, or SMS, or save/print it.

4. The sender scans your QR code using their Aani-enabled banking app, enters the amount, and confirms the payment. Funds are credited to your AED account instantly.

Receiving Card Payments via Aani

Senders using participating UAE banks can send funds directly using your Wio card number up to AED 50,000:

• Debit Card Number Used: Credited directly to your current account.

• Credit Card Number Used: Credited towards your outstanding credit line.
  (Note: Overpayments up to AED 500 are accepted and credited to your current account. Payments exceeding the outstanding balance by more than AED 500 are declined).

Part 5: Paying VAT & Corporate Tax

Wio Business lets you settle your Federal Tax Authority (FTA) liabilities directly from your AED account without manual GIBAN setup.

Key Details

• Supported Taxes: UAE VAT, Corporate Tax, and Profit Tax.

• Payment Currency: AED only (full invoice amount required; partial or bulk payments are not supported).

• Fees: 100% Free.

How to Pay Your Tax Invoice

1. Go to Payments (or Services) and select VAT Payment.

2. First-time setup: Enter your 15-digit Tax Registration Number (TRN) and tap Next. Wio will automatically retrieve your FTA payment account (GIBAN). If needed, you can enter your GIBAN manually.

3. Select the invoice you wish to pay.

4. Review the details (Payee, Invoice Number, Amount, Fee: FREE) and tap Pay invoice.

5. Select your AED current account and authorize the transfer using Swipe right to confirm the payment.

6. A confirmation screen will show your payment reference number. Tap Close or share/download your official payment receipt.

Tracking Tax Payments

Access the VAT Payments dashboard anytime to view your VAT Payment History:

• In Process: Payment submitted and undergoing processing.

• Completed: Successfully received and reconciled with the FTA.

• Failed / Reversed: Payment could not be processed or was returned (e.g., incorrect invoice).

Part 6: Bill Payments (Telecom, Salik, NOL)

Pay utilities and transport services directly from your funded Wio account with no cooling-off period required.

How to Pay Etisalat or DU Bills

1. Go to Payments > Bills.

2. Select Etisalat or DU.

3. Choose your plan type (Prepaid or Postpaid) and enter your account/phone number.

4. Enter the amount you wish to pay (partial payments are supported for postpaid plans).

5. Review the details and Swipe to confirm.

How to Top Up Salik or NOL

1. Go to Payments > Bills.

2. Select Salik (enter account number & PIN) or NOL (enter Tag ID).

3. Enter the top-up amount, review details, and Swipe to confirm.

Part 7: Purpose of Payment (POP) Codes Guide

When sending local AED transfers in the UAE, selecting an accurate Purpose of Payment (POP) ensures fast and uninterrupted processing:

Part 8: Downloading Receipts & Transfer Confirmations

• In-App: Open any completed transaction from your history to view full details and download an official digital payment receipt / SWIFT confirmation.

• Email: An official payment confirmation advice is automatically sent to your registered business email address as soon as any outward transfer is completed.

Frequently Asked Questions (FAQs)

1. How long do local AED transfers take to reach the recipient?

• Transfers up to AED 50,000: Processed instantly, 24 hours a day, 7 days a week.

• Transfers above AED 50,000: Processed during Central Bank operating hours (Monday to Saturday, 4:00 AM – 8:50 PM). Transfers submitted after 8:50 PM, on Sundays, or on public holidays are processed on the next business day.

2. What are the fees and daily limits for sending local transfers?

• Fees:

  • Grow Plan: Unlimited free local transfers.

  • Essential Plan: 10 free local transfers every month, then AED 1.05 per transfer (VAT included).

• Daily Transfer Limit: The default limit is AED 750,000 per day. You can adjust this daily limit inside the app up to AED 5,000,000.

3. Why is there a cooling-off period after adding a new beneficiary?

To protect your business funds from fraud and unauthorized access, new beneficiaries undergo a mandatory cooling-off period before you can transfer funds to them:

• 12-hour cooling-off period: When verified using Enhanced Facial Recognition (EFR).

• 24-hour cooling-off period: When verified using One-Time Password (OTP) or if added by a user with a Preparer role.
  You will receive an in-app notification as soon as the beneficiary becomes active.

4. Are transfers between Wio accounts (Wio-to-Wio) free?

Yes. Transfers between Wio accounts (Wio Business or Wio Personal) are 100% free and instant, 24/7.

• Same currency (e.g., USD to USD, EUR to EUR): Instant with zero transfer fees and no currency exchange.

• Cross-currency (e.g., AED to USD): Instant with zero transfer fees. Competitive real-time foreign exchange (FX) rates apply and are shown transparently under Here's a recap of your fees before you confirm.

5. Can I receive local AED payments directly into my USD, EUR, or GBP Wio account?

Yes. If someone in the UAE sends a local AED transfer to your foreign currency account IBAN, the funds are automatically converted to your account's currency using the live bank exchange rate at the moment of credit.

• To avoid currency conversion, provide the sender with your AED account IBAN instead.

6. How do I receive instant payments using an Aani QR code?

1. Open the Wio Business app and tap Payments.

2. Tap the QR code icon in the top-right corner.

3. Share your QR code via messaging apps, email, or print it for your storefront.

4. The payer scans the QR code with any Aani-enabled UAE banking app, enters the amount, and authorizes the payment. The funds are credited to your AED account instantly.

7. Can customers pay me using my Wio debit or credit card number?

Yes. Senders using participating UAE bank apps can send up to AED 50,000 using your 16-digit Wio card number:

• Debit Card: Payments are credited directly to your current account.

• Credit Card: Payments go directly towards settling your outstanding credit card balance.

8. How do I pay my VAT or Corporate Tax bill in the app?

1. Go to Payments (or Services) and select VAT Payment.

2. Enter your 15-digit Tax Registration Number (TRN). Wio automatically fetches your FTA payment account (GIBAN).

3. Select the outstanding invoice you wish to settle and tap Pay invoice.

4. Select your AED account and perform Swipe right to confirm the payment.
   (Note: Tax payments must be paid in full; partial invoice settlements are not supported).

9. Why do I need to select a Purpose of Payment (POP) code for local transfers?

As required by UAE Central Bank regulations, selecting an accurate Purpose of Payment (POP) code (such as SAL for Salary, PMS for Professional Services, or GDI for Goods Bought) ensures your payment complies with local banking standards and prevents processing delays.

10. Where can I download official payment receipts and SWIFT confirmations?

• In-App: Go to your transaction history, select any completed payment, and tap to view or download your official digital receipt / SWIFT confirmation.

• By Email: An official payment advice is automatically sent to your registered business email address as soon as any outward transfer is successfully completed.

11. When will my local UAE transfer be credited, and why could it fail or be returned?

Local UAE transfers under AED 25,000 are typically credited within minutes and can be processed 24/7. Transfers above AED 25,000 are usually credited on the same day or within 1 business day, provided they are submitted before the 7:30 PM cut-off time (Monday to Saturday).

A local transfer may fail or be returned for one of the following reasons:

• The beneficiary account is inactive, frozen, or closed.
• The beneficiary's name, account number, or IBAN does not match the bank's records.
• The company name or payment description contains unsupported special characters (such as !@#$%^&*).

If your transfer has been returned, review the beneficiary details and payment information before trying again.