Tabby Launches Tabby Cash, a Fee-Free Money Account Alternative in the UAE
UAE-based shopping and payments platform Tabby has introduced Tabby Cash, a zero-fee money account alternative aimed at everyday consumer money management. The launch marks a broadening of Tabby’s offering beyond flexible payments and into broader financial services.
The new product is the first to be developed under Tabby’s Stored Value Facilities license, which was granted by the Central Bank of the UAE (CBUAE). According to the company, more than 150,000 users have already joined the platform ahead of the service’s full rollout across the UAE in the coming weeks.
What Tabby Cash Offers
Tabby Cash is designed to be free to open and does not charge account or card fees. The associated Tabby Cash Card offers cashback benefits, with 3% cashback on selected categories and international spending for Tabby Plus subscribers, and 1% cashback for standard users.
As part of its launch promotion, all cardholders will receive a flat 3% cashback until 1 November 2026. Tabby said the product is intended to give users more flexibility in how they hold, send, and spend money, while keeping costs low.
Positioning Against Traditional Banking Costs
The launch comes as Tabby highlights the expense of conventional financial products in the UAE. The company pointed to credit card annual interest rates ranging from 30% to 46%, with interest compounding on unpaid balances. It also noted that traditional current accounts often require salary minimums and may charge fees if balance thresholds are not maintained.
For cross-border transfers, Tabby said sending money abroad can cost AED 75 or more before exchange rate markups are applied. In contrast, Tabby is positioning its digital model as a lower-overhead alternative because it operates without physical branches or legacy infrastructure.
Tabby’s Expansion Beyond Buy Now, Pay Later
Tabby is best known for its flexible payments offering, and the launch of Tabby Cash signals a move into a wider consumer finance segment. By combining fee-free account features with cashback incentives, the company is targeting users seeking more accessible day-to-day money management tools.
Hosam Arab, CEO and Co-Founder of Tabby, said the company was founded on the idea that money should be flexible enough to fit people’s lives. He added that Tabby is building a place where users can have greater control over their money, with the same clarity and flexibility they expect from the platform.
Industry Analysis
Tabby Cash reflects a broader trend in the UAE’s fintech sector, where licensed digital players are expanding from payments into account-based financial services. The launch also underscores growing demand for low-cost alternatives to traditional banking products, particularly among consumers sensitive to fees, salary requirements, and foreign transfer costs.
With regulatory approval in place and a sizable user base already onboarded, Tabby appears to be positioning itself as a consumer finance platform rather than a pure payments provider. The rollout may also increase competitive pressure on established banks and digital banking services to offer more transparent pricing and higher-value rewards.
