Deliver Universal Accounts with myZoi
Account-based infrastructure for the underbanked
One licensed platform for onboarding, salaries, payments and remittances.
CBUAE-licensed SVF and payment-services provider
Built for low-income salary users
Digital, multilingual and payroll-ready
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What the framework requires
Under CBUAE Notice No. 680/2026, workers who earn AED 5,000 or less a month must be able to get a basic, low-cost account that they open on their phone and can use in their own language. Financial institutions in the WPS must offer it, protect the people using it and report on it. The six areas below set out what that covers, and myZoi’s platform is built to support each one.
Eligibility
The Universal Account is intended for individuals who:
Core product features
The account supports:
Pricing & access
The framework includes:
Digital access and language
The account should be opened digitally, with clear disclosures during onboarding. The mobile application must be available in at least:
Consumer protection
Institutions must have processes covering:
Reporting
WPS-participating LFIs must prepare the prescribed reporting, including:
A model that works across the payroll ecosystem
Universal Accounts change more than the underlying product. They affect how financial institutions protect corporate relationships, how employers manage payroll and how underbanked workers access and use essential financial services.
Protect your payroll and remittance relationships
Continue protecting your strengths while myZoi provides the licensed digital infrastructure for the account-based user journey.
Serve the underbanked at scale
Extend account-based access to low-income salary users through journeys designed for a high-volume, multilingual and remittance-led segment.
Protect payroll continuity
The mandate applies directly to WPS participating financial institutions, but the transition also affects employers, payroll teams and their workforce. myZoi helps partners give corporate clients a clear, supported route from salary cards to account-based access.
Extend account-based capability
Address specific product, technology or servicing requirements through an operating model built around the capabilities your institution wants to retain.
Built around the requirements. Designed for real-world adoption.
A Universal Account must satisfy regulatory expectations and work for the people using it. myZoi combines regulated financial infrastructure with employer-led distribution and a user experience designed for low-income, underbanked workers.
Licensed by the Central Bank of the UAE
myZoi is a CBUAE-licensed Stored Value Facility and Retail Payment Services and Card Schemes provider.
Built for low-income salary workers
Multilingual digital journeys and assisted activation, designed for the underbanked workers Universal Accounts are meant to serve.
Already live at scale
Over AED 1 billion in salaries already processed through myZoi.
FAQs
myZoi is a digital app that helps you send money home to your family or friends quickly and securely.
myZoi is licensed by the Central Bank of the UAE and backed by Standard Chartered. Your money is held in your digital wallet in accordance with CBUAE requirements.
myZoi offers the UAE's first 'one-to-many' feature. You can send money home to up to 5 people (family or friends) at the cost of 1 transfer fee, so if you're sending to your dad, sister and friend, you save on fees for 2 people.
We offer fast, secure transfers and favourable fees and charges. You can check the fees and currency conversion rates in real time through the app, as they vary from country to country.
You can send money home quickly and securely through myZoi. They can use the funds for daily expenses, support your child's education, or save for the future.
Your family or friends can receive money into a bank account or digital wallet, or collect cash through a vast network of cash-out locations.
Ready to launch Universal Accounts?
Every Universal Account requirement is already live on the myZoi platform, so partners don’t build from scratch. You bring the relationships; myZoi brings the infrastructure.
This page is for general information only and is based on CBUAE Notice No. 680/2026 and related Universal Account guidance. The appropriate regulatory route, obligations and approvals will depend on each institution’s circumstances and the final operating model.
