Transfer / Deposit Funds
If you do not wish to open an account with Mashreq, you may transfer funds to Mashreq Securities account with Mashreq bank or deposit them directly at the teller counter. Once funds are transferred or deposited, please fax a copy of the transfer or deposit slip including the following information to +971 4 424 7263 or by email to info@mashreqsecurities.com
Name of depositor / sender
Mashreq Securities Client ID
Date of deposit / transfer
Amount
Please use the following information:
When transferring funds via Telex:
Beneficiary name: Mashreq Securities LLC (Client Accounts)
Account no: 0493173382
Swift code: BOMLAEAD
Sender’s details: Full Name (as per passport) and Mashreq Securities Client ID
Purpose of transfer: Trading in the UAE stock markets through Mashreq Securities
Please fax the transfer slip to +971 4 424 7263 or send it by email to info@mashreqsecurities.com mentioning your Mashreq Securities client ID.
When depositing funds/cheques at the counter:
Visit any Mashreq branch in the UAE
Fill a cash / cheque deposit slip
Deposit the funds / cheque at the counter
Please fax the deposit slip to +971 4 424 7263 or send it by email to info@mashreqsecurities.com mentioning your Mashreq Securities client ID.
Turn-Around-Time for funds to be credited:
By Cheque:
Foreign currency cheque: Minimum 3 weeks
UAE currency (Dirham) cheque: 1-2 working days
By Cash deposit at the counter:
Funds deposited in cash will reflect at the same time of deposit.
Note: the above timelines are applicable only when cheque or cash is deposited at the counter at any Mashreq branch. Please allow one extra working day if UAE currency cheque or cash is deposited through the ATM machine inside the Mashreq branch.
By Telex/Swift transfer:
Fund transfers via Telex or Swift usually reflect within 2-4 days. You may transfer funds to the Mashreq Securities account at Mashreq Bank in any currency you wish. Once the funds are received, they will be converted to UAE currency (Dirham) as per the currency rate on that date.