Service Charges
Please see the table below for a complete list of our service charges.
| Current Account | |
|---|---|
| Minimum monthly average credit balance requirement | BD 500/- (OR equivalent for foreign currency) |
| Monthly charges, if the above average balance is not met | BD 10/- per month |
| Closing of account within 12 months of opening | BD 10/- |
| Change of account title | Free |
| Reactivation of Dormant/Unclaimed account | BD 5/- |
| Daily Charges upon account being overdrawn | BD 5/- |
| Cash handling charges (for AED 1,000,000 or more ) | Free for BD (1% cash handling charge for FCY) |
| Valid Commercial Registration not provided in 30 days after expiry | Nil |
| Valid Commercial Registration not provided in 60 days after expiry | BD 15/- |
| Valid Commercial Registration not provided every 30 days threafter | BD 10/- |
| Under Formation Letter | BD 30/- |
| A/C Closure Certificate | BD 20/- |
| Transaction charges/teller charges (Towards cheque debit and deposit, cash deposit, account to account transfer) | BD 1/- per transaction. First 10 transactions free. |
| Fixed Deposits | |
| Minimum Balance | BD 5,000 or equivalent |
| Tenure | Minimum Period of 7 days |
| Premature withdrawal of fixed deposit | Fixed breakage fee of BD 25 plus:
If fixed is < 30 days: No Interest to be paid. If fixed => 30 days: Agreed FD rate less 1.5% will be paid. |
| Call Account | |
| Interest rate | No interest paid below BD 10K or as agreed on a case to case basis or if amount is withdrawn without notice of 3 working days |
| Minimum daily closing balance requirement for account to earn interest | BD 10,000/- or equiv. in foreign currency |
| Credit Facility | |
| Set-up (arrangement) charges for annual facility renewal and/or new facility | As Agreed |
| Amendment charges (other than fixed period loans) | As Agreed |
| Commitment fee on loans | As Agreed |
| Late Payment Charges | Penal Interest plus Applicable Rate. |
| Cheque book issuance | |
| Standard Cheque Book issuance charges | 1st 25 leaves Free, BD 2.5 for 25 leaves & BD 5/- for 50 leaves |
| Customised cheques | At Cost |
| Post dated cheques (PDCs) | |
| Extension of due date | BD 5/- |
| Custodial service per cheque | BD 2.5/- |
| Outstanding PDC report | BD 5/- |
| Replacement / premature withdrawal per cheque | BD 2.5/- |
| Outward Clearing/ Inter-City/ Clean Collections | |
| Inter-city clearing | Free |
| Special clearing | BD 3/- |
| Collection within Country | Free |
| Collection outside Country (FBP) | 1/8% of cheque amount of any currency (minimum: BD15/- and maximum: BD200) plus correspondent & mail charges |
| Local Purchased Order Discounted - LPOD | |
| Commission - per request | As agreed |
| Discount / Interest | As agreed |
| Local Cheques Discounted - LCD | |
| Interest | As agreed |
| Commission per cheque | As agreed |
| Replacement / premature withdrawal per cheque | BD 10/- |
| Extension of due date per cheque | BD 20/- |
| Outstanding LCD report | BD 10/- |
| LCD returned unpaid cheques | BD 10/- |
| Cheques Returned Unpaid | BD 10/- |
| Inward clearing / transfer | Free |
| Outward local clearing | Free |
| Collection (OBC) within Country | BD 5/- |
| Collection (OBC) outside Country | 1/8% of cheque amount of any currency (minimum: BD15/- and maximum: BD200) plus correspondent & mail charges |
| Miscellaneous Charges Related to Cheques | |
| Request for photocopy of cheque - less than 6 months old | BD 5/- |
| - More than six months old | BD 15/- |
| Ad Hoc Request for Statement | BD 10/- for less than 6 months old and BD 20/- for over 6 months old |
| Stop Payment of Cheque | BD 10/- |
| Inward Remittances | |
| Credit into Mashreqbank A/C | Free |
| Copy of Inward Remittance
SWIFT Message | Less than 6 months ago BD 5/-, More than 6 months ago BD 15/- |
| Outward Remittances | |
| Draft / pay order issuance | BD 2.5/- |
| Request - stop payment pay order/demand draft | BD 10/- |
| Telex transfer - within country | BD 5/- |
| Telex Transfer-outside country | BD 10/- |
| Additional cost of Telex Transfers with charges "OUR" instructions | USD 25/- (or its equivilant in other currency) |
| Responding/raising inquiries on behalf of customer | BD 5/- |
| Cancellation of remittance instructions (funds already remitted) | BD 10/- |
| Cancellation of DD/PO ( Original instrument presented) | BD 5/- |
| Copy of outward remittance transmitted | Less than 6 months ago BD 5/-, More than 6 months ago 15/- |
| TT return due to discrepancy per transaction | BD 5/- |
| Standing Order Instructions | |
| Setup / amendment | Set up - BD 10/-, Amendment BD 5/- |
| Execution | BD 2/- plus standard charges |
| Insufficient funds to execute | BD 5/- |
| Copy of standing order instruction application | Less than 6 months BD 5/-, More than 6 months BD 15/- |
| Standing order cancellation or suspension | BD 5/- |
| Balance (sweep) orders: | |
| - Set up charge | BD 10/- per instruction |
| - Amendment / Cancellation charges | BD 5/- per instruction |
| Imports - Letters of Credit (LCs) | |
| Issuance commission on Sight LC | 1/6% p.m. (minimum: BD 50/-) |
| Issuance commission on Usance LC | 1/6% p.m. (minimum: BD 50/-) |
| Revolving LC Commission on each revolved amount | 1/4% p.m. (minimum: BD100/-) |
| Standby Credit (SBLC) | 1/4% p.m. (minimum: BD10,000/-) |
| Amendments to LCs (other than in value or expiry date) | BD 50/- |
| Extension &/or enhancement in LC value | BD 50/- plus standard LC charges |
| Cancellation | BD 25/- |
| Acceptance commission (LC expiry to draft maturity) | 1/6% p.m. (minimum: BD100/-) |
| Handling charges for discrepant documents | BD 100/- per presentation |
| Settlement of open account transactions (against Trust Receipt) | 1/8% flat fee (minimum: BD 25/-) |
| Bills not settled within agreed time frame | min 2% penal rate over and above the agreed interest rate |
| Issuance of Shipping Guarantee (with margin) | BD 20/- |
| Issuance of Shipping Guarantee (without margin) | 1/8% of invoice value for 1st month and 1/4% for subsequent months (minimum: BD 30/-) |
| Inward Documentary Bills for Collection (IDBC) | |
| Documentary collection handling commission | 1/8% (minimum: BD 25/-) |
| Documents delivered free of payment (where authorised by Presenter) | 1/4% (minimum: BD 25/-) |
| Avalisation of drafts | 1/8% p.m. (minimum: BD 25/-) |
| Documents transferred to local banks | BD 25/- |
| Amendments to bills for collection | BD 10/- |
| Admin. fees on documents held unpaid after 1 month of sight or due date | BD 10/- per month |
| Documents returned unpaid | BD 15/- |
| Exports - Letters of Credit (LCs) | |
| Pre advice of LC | BD 15/- |
| Advising of LC | BD 30/- |
| Opening Commission | 1/8% p.m. (minimum: BD 50/-) |
| LC Confirmation | As per arrangement subject to min. BD 100/- |
| Advising LC amendments | BD 15/- |
| Transfer of LC | 1/4% (minimum: BD50/-) |
| Documents processing/ negotiation commission | 1/8% (minimum: BD75/-) |
| Commission on documents forwarded to nominated banks for negotiation | BD 25/- |
| Reimbursement | BD 50/- or USD 140/- or EUR 100/- |
| Discrepancy handling charges | USD 100/- per set of docs. |
| Assignment of proceeds under (Export) LCs | Flat charge of BD 75/- |
| Claiming of re-imbursement charges under Export LC | BD 15/- |
| Remittance of funds through third bank | BD 15/- |
| Processing fee on packing credit | BD 35/- |
| Outward Documentary Bills for Collection (ODBC) | |
| ODBC documents handling charges | 1/8% p.m. (minimum: BD 25/-) |
| Amendments to bills for collection | BD 10/- |
| Documents returned unpaid | BD 10/- |
| Processing fee | 1/8% p.m. (minimum: BD 25/-) |
| Issuance of Letters of Guarantee (LG) | |
| Commission on issuance of Contract Finance Guarantees like bid bonds/performance bonds/advance payment guarantees/maintenance/ retention/SBLC and other guarantees | 1/6% (minimum: BD50/-) |
| Commission on issuance of Auto Renewal Guarantees | 1/5% (minimum: BD50/-) |
| Open-ended guarantees | 1/5% p.m. (minimum: BD25/-) calculated quartrerly. In case of Labour Guarantees it should be calculated annually. |
| Purchase Guarantees/ Financial Guarantee | 3/4% for the first 3 months and then 1/4% p.m. (minimum: BD50/-) |
| Commission on guarantees passed on | BD 50/- |
| Amendment of LG (other than extension or enhancement) | BD 50/- |
| Processing of non-standard/long text guarantees | BD 15/- additional |
| Extension or enhancement in LG value | BD 15/- + standard LG charges |
| Other Trade Related Charges | |
| Full text swift/telex charges | BD 30/- per page |
| Brief text swift/telex charges | BD 15/- per page |
| Courier Charges | BD 30/- |
| Other swift messages | USD 30/- |
| Request for photocopy of documents | BD5/-
(BD15/- for documents older than 6 months) |
| Certified Postdated cheques | |
| Postdated cheques certified good for payment | 1/10% (minimum: BD50/-) |
| Penal Interest Rate | |
| If amount exceeds arrangements | 2% p.a. over agreed rate |
| Overdue Amount | 2% p.a. over agreed rate |
| Miscellaneous Charges | |
| Balance letter | BD 20/- |
| Audit confirmation | BD 20/- |
| Trade information | BD 10/- |
| Other certificates | BD 10/- |
| Customs duty receipt | BD 10/- |
| Mashreqbusinessonline | |
| Setup charges (one time cost) | BD 50/- |
| Electronic signature card (per financial user | BD 40/- |
| Password regeneration | BD 10/- |
| Monthly fee | BD 10/- |
| Enquiry Module only | BD 10/- |
| Enquiry & Transaction Module | BD 20/- |
| Premature withdrawal of PDC | BD 2/- |
| Payroll Salary transfer | |
| - to Mashreqbank Account | Fixed fee of BD20/- (upto 25 internal transfers).
Then an additional charge of 600 fils per additional internal salary transfer |
| - to other bank Account | Fixed fee of BD10/- per each bank (for upto 20 staff).
Then an additional charge of 600 fils per additional staff |
| Telex Transfer – within country | BD 5/- |
| Telex Transfer – cross border | BD 10/- |
| Statement download | BD 1/- |
| Account to Account Transfers | BD 1/- |
| Escrow Account Services | |
| Account set up charges | BD 1,000/- |
| Amendments post agreement signup- Per amendment | BD 50/- |
| Engineering Fee - per month | At Cost |
| Monthly charges in the construction project (Per Unit) | BD 10/- |
| Deal structuring charges | 1/5% of project value |