What is the FAB Account Statement Cycle?

Are you confused about how First Abu Dhabi Bank (FAB) manages your account statements? Knowing when and how your bank statement is generated can help you track your financial activities effectively.

In this guide, I’ll explain the FAB account statement cycle, its features, and how you can access and use it for better financial management.

What is the FAB Account Statement Cycle? (Quick Answer)

The FAB account statement cycle is the monthly timeline when First Abu Dhabi Bank generates account statements summarizing deposits, withdrawals, charges, and fees for a specific period. These statements are delivered digitally or physically to help account holders monitor their finances accurately.

Understanding the FAB Account Statement Cycle

The FAB account statement cycle is a predefined period during which all account activities are recorded and consolidated into a statement. This statement serves as a financial summary, detailing your transactions, fees, and balances over a specific time frame.

• Cycle Period: Typically, FAB account statements are generated monthly, covering a specific billing period (e.g., March 1 to March 31).
• Statement Delivery: Account holders receive their statements at the end of the cycle through email, FAB mobile app, or physical copies.

By understanding this cycle, you can plan better for upcoming expenses, identify unusual transactions, and stay on top of your financial goals.

Key Features of the FAB Account Statement Cycle

1. Monthly Statement Generation

FAB generates account statements at the end of each billing period, which typically lasts one month. For example, if your cycle runs from March 1 to March 31, your statement will be available on April 1.

2. Transaction Summary

Your FAB account statement includes a detailed list of all your transactions:

• Deposits: Salaries, transfers, and other credits.
• Withdrawals: ATM cash withdrawals, purchases, or transfers.
• Charges: Bank fees, service charges, and penalties (if any).
• Balances: Opening balance, closing balance, and available funds.

3. Digital and Physical Access

FAB ensures convenience by offering multiple ways to access your account statements:

• FAB Mobile App: View and download statements instantly.
• Online Banking: Log into your FAB online account to access past statements.
• Email Delivery: Statements are emailed to registered account holders.
• Branch Collection: Request a physical copy by visiting any FAB branch.

4. Customizable Statement Requests

While monthly statements are standard, FAB allows you to request customized statements for specific periods, such as weekly or quarterly summaries.

5. Compliance and Security

FAB account statements comply with UAE banking regulations, ensuring accuracy, security, and transparency. Statements are password-protected when delivered digitally.

Why is the FAB Account Statement Cycle Important?

Understanding your FAB account statement cycle helps you manage your finances effectively. Here’s why it matters:

1. Financial Tracking

Regular statements allow you to monitor income, expenses, and savings trends, helping you maintain financial discipline.

2. Fraud Detection

By reviewing your statements monthly, you can quickly identify unauthorized or suspicious transactions and report them to FAB.

3. Budget Management

Knowing when your statement cycle ends helps you align your spending and saving habits with your financial goals.

4. Loan and Credit Eligibility

Bank statements are often required for loan applications, credit card approvals, or visa processing. A clear and updated statement improves your financial profile.

How to Access Your FAB Account Statement?

FAB provides flexible options to ensure you can access your account statements anytime, anywhere. Here’s how:

1. Through FAB Mobile App

1. Download the FAB Mobile App.
2. Log in with your credentials.
3. Navigate to the “Account Statements” section.
4. Select your desired cycle period and download the statement.

2. Via Online Banking

1. Log into FAB’s online banking portal.
2. Go to the “Account Summary” or “Statements” tab.
3. Choose the statement period.
4. Download or print the statement as needed.

3. Email Statements

Register your email with FAB to receive monthly statements directly in your inbox. Ensure your email is updated to avoid missing statements.

4. At FAB Branches

Visit your nearest FAB branch and request a printed statement. Bring your Emirates ID for verification.

Comparison of FAB Statement Cycle to Other UAE Banks

To give you a clearer perspective, here’s a comparison of FAB’s statement cycle with other UAE banks:

Feature	FAB	Emirates NBD	ADCB
Cycle Period	Monthly (default)	Monthly	Monthly
Delivery Mode	Mobile App, Email, Branch	Online, Email, Branch	Online, Email, Branch
Custom Requests	Yes	Yes	Yes
Security Features	Password-protected PDFs	Encrypted Delivery	Password-protected PDFs

Tips for Managing Your FAB Account Statements

1. Set Alerts: Enable SMS or email notifications to stay informed about new statements.
2. Download Statements Regularly: Keep copies of your monthly statements for budgeting and tax purposes.
3. Review for Errors: Verify all transactions to avoid disputes or discrepancies.
4. Go Paperless: Opt for digital statements to reduce clutter and protect the environment.
5. Update Contact Information: Ensure FAB has your current email address and phone number.

Frequently Asked Questions

Q. What is the FAB account statement cycle?

The FAB account statement cycle refers to the monthly period when First Abu Dhabi Bank generates and delivers account summaries, including transactions and fees.

Q. How can I access my FAB account statements?

You can access FAB account statements through the FAB Mobile App, online banking portal, email delivery, or by visiting a FAB branch.

Q. Are FAB account statements secure?

Yes, FAB statements are password-protected when delivered digitally to ensure privacy and compliance with UAE banking regulations.

Q. Can I request account statements for a custom period?

Yes, FAB allows you to request account statements for specific periods, such as weekly, monthly, or quarterly.

Q. Is there a fee for printed FAB account statements?

FAB may charge a nominal fee for printed account statements requested at branches. Confirm with FAB for updated charges.

Final Thoughts

The FAB account statement cycle simplifies the process of tracking your financial activities, helping you manage your expenses and plan for future goals. By accessing your statements regularly and understanding the cycle, you can stay informed, detect fraud, and improve your financial well-being.

For seamless access, use the FAB Mobile App or online banking to view your monthly statements instantly. If you need assistance, visit a FAB branch or contact customer service for personalized support.