Saving for your child's future is a key financial goal for every parent; whether it is for the purpose of paying for tuition fees, medical expenses, travel plans, or anything else.

Mbank UAE's Zcoin is a first of its kind saving deposit plan for children’s future and long-term financial needs.

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    How do I get started with Zcoin?

    Download the Mbank UAE mobile application
    Open a Minor’s Account
    Click on ‘Saving Schemes’
    Start depositing Zcoins
    Note: By depositing in Zcoin through the Mbank UAE app or by using any of the Mbank services, you acknowledge that you have read, understand, and agree to the Terms of Service.
    *Terms and Conditions Apply.

    Get answers to common questions about Mbank UAE

    What is Zcoin Saving Deposit account?

    Zcoin is an innovative saving plan for your kids – parents/legal guardians can start saving for their future and long-term needs. Zcoin Savings Deposit Account adopts an innovative deposit/redemption structure of virtual coins without impact of market fluctuations on principal. The coin structure Savings Deposit is the first step in a range of advanced financial and investment products for your child

    Who can have a Zcoin Saving Deposit account?

    Mbank is introducing the “Zcoin Saving Deposit Account” product offering for the Minor account segment. Minor’s legal parent and/or the custodian could open the Zcoin Saving Deposit Account through Mbank Mobile App.

    Do I need to hold a minor account for my children to have a Zcoin Saving Deposit Account?

    Yes, you should have minor account for your child.

    What is the process to open and increase the Zcoin Saving Deposit account?

    The process is digital and allowed only through Mbank UAE App.
    First, you should open Zcoin Saving Deposit account, and then you can start adding Zcoin to increase your kids’ savings for his future.

    What is the minimum amount to open the Zcoin Saving Deposit account?

    First Zcoin should be AED 1,000 and then multiple of AED 100.

    What is the maximum amount of the Zcoin Saving Deposit account?

    Maximum amount is AED 5,000,000.

    What is the Zcoin Saving Deposit Period for withdrawing funds from the account?

    The minimum Deposit Period is 6 months, which start from the date of each deposit.

    When I will I be able to withdraw/redeem from my Zcoin Saving Deposit account?

    You may withdraw money only after we have received notice that you intend to withdraw some or all the money in your Saving Deposit Account in accordance with terms and conditions.
    Once you have given a notice to withdraw, we will transfer your funds to your chosen account with Mbank on twice a month basis, and there shall be a penalty charged if you want your money earlier than the end of the Saving Deposit Period.

    How can I give notice to withdraw?

    You can give notice through the Mbank UAE app. using the withdraw feature.

    Are there any fees applicable if I want to withdraw/redeem from my Zcoin Saving Deposit account?

    Please refer to Mbank fees & charges (click here)

    Set Your Kids Up for the Future

    With the rising cost of living and education, saving money in a bank account is not enough.
    Choose a suitable deposits option with Mbank UAE's Zcoin.
    free bank account with no hidden fees

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    Give us a call or fill in the form below and we will contact you. We endeavor to answer all inquiries within 24 hours on business days.

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