UAE’s New ‘Aani’ Platform: Instant Money Transfers Using Mobile Numbers

Last Updated on July 9, 2024 by Vadim

Learn about ‘Aani‘, the UAE’s new instant payment platform that allows you to transfer money within 10 seconds using just a mobile number. Discover its features, benefits, and how to use it.

What is Aani?

Aani is an instant payments platform operated by Al Etihad Payments, a subsidiary of the Central Bank of UAE (CBUAE). Launched on October 16, 2023, it enables licensed financial institutions to offer instant payment experiences.

5 Key Benefits of Aani

  1. Transfer money using recipient’s phone number
  2. Request money
  3. Split bills
  4. QR code payments (coming soon)
  5. Manage payment requests

Note: Maximum transfer limit per transaction is Dh50,000.

Participating Financial Institutions

Currently, eight UAE-based banks and financial institutions have partnered with Aani:

  • Abu Dhabi Commercial Bank
  • Al Fardan Exchange
  • Emirates NBD
  • Finance House
  • First Abu Dhabi Bank
  • Habib Bank AG Zurich
  • Mashreq Bank
  • National Bank of Fujairah

More institutions are expected to join by the end of 2024.

How to Use Aani

  1. Enroll through your bank’s mobile app
  2. Link your account (savings or current)
  3. Confirm personal details and set up security
  4. Receive confirmation email
  5. Start using Aani services through your bank app

Available services include:

  • Send money
  • Request money
  • Scan and Pay
  • Pending requests
  • Split bill

Note: Processing fees are determined by individual financial institutions.

Aani represents a significant leap in UAE’s digital payment landscape, offering faster, more convenient money transfers for residents and businesses alike.

In our latest blog article, we cover several key topics related to banking in the UAE. For those looking to stay updated on the latest banking regulations and practices, here are some essential reads:

  1. UAE KYC Update: How to Update Your Emirates ID with Your Bank
  2. How to Check if a Cheque Might Bounce
  3. 12 Essential Mortgage Questions to Ask Before Buying UAE Property
  4. How to File an Insurance Complaint in the UAE
  5. Can You Leave the UAE with an Ongoing Loan?