Can I buy Crypto with Mashreq Bank?
Mashreq Bank does not currently offer the option to buy cryptocurrencies directly on its banking platform. However, you can send funds from your Mashreq Neobank account to a secure and regulated cryptocurrency exchange. eToro is one of the best cryptocurrency investing platforms in the world and has been around since 2008.
Once your funds are on the exchange you will have access to multiple assets including cryptocurrencies, fiat currencies, stocks, commodities and much more. You can also stake selected cryptocurrencies on eToro.
How to buy Bitcoin with Mashreq Neo Account
eToro only accepts the following currencies to be deposited on the platform - USD, GBP, AUD & EUR. You are able to send AED from your Meshreq bank account, although when it arrives in your eToro account it will be in USD. There will be a small conversion rate fee that will be auto deducted from the total amount you receive.
Follow the below steps to get started.
Step One: Sign up to eToro, verify your identity and complete the online form
Step Two: Select ‘Deposit Funds’ and choose Bank Transfer as payment method and enter the amount of USD you wish to deposit
Step Three: You will be redirected to their banking details page, simply copy their details into your Mashreq banking app and send the desired amount to their bank. Bank transfers may take approximately 4-7 business days to be processed from the time of transfer.
Step Four: Once your funds have arrived into your eToro account, visit the home page and search for the cryptocurrency you wish to purchase and select ‘Trade’
Mashreq Bank was established in 1967 as the Bank of Oman Ltd. It was the first private bank to operate in Dubai and was also the first foreign bank to open a branch in Qatar. The name of the bank was changed to Mashreq bank in 1993.
Mashreq is one of the leading banks in the UAE and offers a wide range of products and services for both individuals and businesses. The bank has a strong focus on customer service and provides a number of channels for customers to get in touch, including online banking, phone banking, and branches across the UAE.
The bank also has a strong presence in other countries in the region, including Qatar, Kuwait, Egypt, and Bahrain. The bank has won numerous awards over the years, including the Bank of the Year award from The Banker magazine in 2013.
Mashreqbank has a wide range of products and services for both individuals and businesses, and provides a number of channels for customers to get in touch. Mashreq also has a strong presence in other countries in the region, including Qatar, Kuwait, Egypt, and Bahrain. The bank has won numerous awards over the years, and is regularly ranked among the best banks in the UAE.