The Central Bank of the UAE has introduced a Universal Account Model as part of a broader initiative to strengthen financial inclusion across the country, particularly for individuals earning AED 5,000 or less per month.
For businesses in the UAE using payroll cards, this marks an important shift in how employees receive and use their money. Instead of being limited to salary credits from their employer, employees will now have IBAN-enabled accounts that allow them to receive funds from multiple sources, not just their employer.
What is a Universal Account in the UAE?
A Universal Account is defined by the Central Bank of the UAE as “a basic, digitally accessible current account, denominated in AED, designed for individuals earning AED 5,000 or less per month.”
These accounts are specifically meant for individuals who do not already hold a bank account in the UAE and must meet a set of minimum standards, including:
- No minimum balance requirement
- Digital-first account opening (including via mobile apps)
- Low or zero monthly maintenance fees (capped at AED 2)
- Free basic usage including ATM withdrawals/deposits within limits and balance inquiries
- Salary and other income transfers
- Peer-to-peer fund transfers (domestic and international)
- Bill payments and point of sale payments (via card or mobile app)
- A mobile app available in at least English, Urdu, Hindi, and Arabic
- A debit card, if the employee consents to it
- No cheque book services
Unlike traditional payroll cards, these are regulated current accounts, designed to provide essential financial services within a structured and compliant framework.
What Changes with Universal Accounts?
The shift is simple, but significant.
Employees move from receiving salaries through payroll cards to having a more flexible financial account.
This means:
- Employees can now receive money from multiple sources, not just their employer
- They can send, store, and use funds more flexibly
- They become part of the formal financial system, rather than being limited to payroll flows
For businesses, this also introduces a clear direction: payroll models based purely on salary cards will need to evolve. The new model also changes what employees expect from payroll.
To support employee needs and remain compliant with WPS requirements, companies will need to work with providers that are prepared for the transition to the Universal Account model.
What Does This Mean for C3Pay Users?
Edenred is already aligned with this transition and is upgrading C3Pay cards to a Universal Account model. This means C3Pay cards will include:
- A dedicated AED IBAN linked to each card
- The ability to receive money from other banks or senders directly into their account
- No minimum balance requirement, as available today
- Continued access to outward international transfers
- Bill payments and in-shop/online payments, as available today
- Fully digital access via the C3Pay mobile app
Conclusion
Universal Accounts represent a clear shift in the UAE’s payroll landscape.
They move the system from simply delivering salaries to enabling broader financial access for employees.
For businesses, this is not just about adapting to a new requirement. It’s about building a payroll setup that is compliant, future-ready, and aligned with how employees expect to manage their money today.
Companies that prepare early will be better positioned to ensure a smooth transition, while continuing to deliver a reliable and future-ready payroll experience.
| Feature | Payroll Cards (Current Model) | Universal Accounts (New Model) |
|---|---|---|
| Type of product | Prepaid payroll card | Basic current account |
| Primary purpose | Salary disbursement | Salary + broader financial access |
| IBAN | Not available | Available (AED IBAN) |
| Source of funds | Employer salary only | Salary + funds from multiple sources |
| Receiving transfers | Limited or not supported | Supported (local & international) |
| Sending money | Limited functionality | Peer-to-peer transfers (domestic & international) |
| Minimum balance | Usually not required | No minimum balance required |
| Fees | Varies by provider | Capped (max AED 2 monthly) |
| Role in WPS | Used for salary distribution | Evolving toward account-based salary delivery |
