Tenants at all Easa Saleh Al Gurg (ESAG) properties can now pay their rent in monthly direct debit instalments.
ESAG has partnered with the National Bank of Fujairah to roll out the direct deposit service, meant to replace the traditional cheque payment method. The system utilises the National Bank of Fujairah’s digital payment systems and offered in collaboration with Dubai-based firm, Direct Debit System.
ESAG Real Estate becomes one of the first private sector landlords in UAE to offer this facility. Tenants fill in a single direct debit authority form for their rent to be deducted monthly.
“Traditional methods of rental payments no longer serve the best interests of our customers,” said Abdulla Al Gurg, Group CEO of ESAG. “The option to pay their rent using monthly direct debit makes life easier for tenants and will help lighten financial strain, underlining our commitment to responding to our tenants’ needs.”
Dubai has launched a series of smart initiatives to fully embrace digital transformation by 2021. By the end of this year, the Dubai government will go completely paper-free, eliminating more than 1 billion pieces of paper used for government transactions annually.
Vince Cook, CEO of the National Bank of Fujairah believes the partnership will lead to further developments in the wider industry: “Our collaboration with ESAG Real Estate will serve as a leading example on how to transition to modern payment pathways within the real estate sector and across multiple industries.”
“Today’s customers are increasingly looking for convenience, and this partnership is in line with the bank’s aim of supporting clients’ personal and professional needs,” Cook added.