Priority and Private Banking Charges
Schedule of Fees and Charges on Investment Accounts
| Priority (AED) | Private Banking (AED) | |
|---|---|---|
| Custody and Administration Fees | ||
| Custody | 0.2625% per annum calculated daily based on the portfolio value and charged in arrears on quarterly basis | 0.2625% per annum calculated daily based on the portfolio value and charged in arrears on quarterly basis |
| Administration Services | Any additional costs charged by our custodian for the receipt or delivery of securities will be debited from the client account | Any additional costs charged by our custodian for the receipt or delivery of securities will be debited from the client account |
| Transaction Fees on different securities/Commitment Fees "Hamish Jiddiah"(applicable Sukuks & Structured Product) |
||
| Equities and other Exchange Traded Securities | Up to 2.10% of investment amount | Up to 2.10% of investment amount |
| Sukuks | Up to 3.15% of investment amount | Up to 3.15% of investment amount |
| Structured Products | Please refer to the respective product’s term sheet | Please refer to the respective product’s term sheet |
| *Subject to minimum fee equivalent to USD 210 | ||
| Funds Transaction Fees | ||
| Mutual Funds | Up to 5.25% of investment amount | Up to 5.25% of investment amount |
| Please refer to the prospectus of the respective funds. In case of any upfront fees for the respective fund no transaction fees will be charged | ||
*Subject to minimum fee equivalent to USD 210 and in addition to any fees changes by the fund provider.
The above fees apply to securities that are held with the Bank and include all charges and fees paid for the execution of the transaction through recognized counterparties of the Bank. Where applicable, taxes, bourse levies, Fund Managers fees and other third party fees will be charged separately.
All above fees and charges are subject to change at any time with notice to the customer.
All charges, commissions and fees are inclusive of Value Added Tax or any other similar sales tax (VAT). These fees and charges are subject to change, which will apply from the effective date, specified by the Bank.
Current and Savings Accounts
| Priority (AED) | Private Banking (AED) | Frequency | |
|---|---|---|---|
| Average monthly minimum balance | AED 500,000 or Salary Transfer of AED 50,000 or above* | By Invitation | NA |
| **Fall below fee (Applicable if Avg balance < AED 3,000) | 26.25 | Nil | monthly |
| Teller Charges (Transaction per month/fee) | 60 free per month thereafter AED 10.50 per transaction | 60 free per month thereafter AED 10.50 per transaction | per transaction |
| Account closing charges (Before 6 months) | 105 | 105 | per request |
| Dormant account charges | Nil | Nil | NA |
| Utility Bill Payment: Over the Counter | 10.50 | 10.50 | per transaction |
| SMS monthly fee | Nil | Nil | NA |
*Free international TTs per month (Correspondent Bank fees shall apply), 25%-30% discount on lockers rental for Priority Salary Transfer Packages. Click here to find more.
**Minor accounts, customers transferring their salary or holding an active finance are excluded.
Cheque Related Charges
| Priority (AED) | Private Banking (AED) | Frequency | |
|---|---|---|---|
| Cheque book charges* | Free | Free | per request |
| Uncollected cheque book | Free | Free | NA |
| Cheque returned charges - Inward (Personal) | 105 | 105 | per instance |
| Cheque return - Inward (Return Reason "Represent after 3 working days") for every item responded |
105+** | 105+* | per instance |
| Returned outward clearing cheques (Personal) | Free | Free | NA |
| Cheque photocopy less than 1 year | Free | Free | per request |
| Cheque photocopy over 1 year | Free | Free | per request |
| Special Clearing - Inward | 157.50 | 157.50 | per request |
| Special Clearing - Outward | 105 | 105 | per request |
| Special Clearing - Outside Emirate | 157.50 | 157.50 | per request |
| Collection of cheques - Emirates with own branches | Free | Free | per request |
| Collection of cheques - Remote areas | Free | Free | per request |
| Collection of cheques - Drawn outside UAE/FCY: Commission + corresponding banking charges apply | 0.1% (Min AED 52.50, max AED 525 or equivalent FCY) | 0.1% (Min AED 52.50, max AED 525 or equivalent FCY) | per request |
| Stop Cheque Charges (per request) | Nil | Nil | per request |
| PDC Extension/Lodgement/Cancellation Charge | Nil | Nil | per request |
*As per the mandate from Central Bank of the UAE, cheque books issued during the first 6 months of opening the account could be limited to 10 leaves depending on the Individual’s rating with the credit bureau (AECB).
**Cheque returned charges AED 105 + Cheque Return with the code represent after 3 working days AED 105 = Total AED 210
Direct Debit Charges
| Non Payment due to insufficient funds | 26.25 | per request |
Courier Charges
| Priority (AED) | Private Banking (AED) | Frequency | |
|---|---|---|---|
| AGCC | Free | Free | per request |
| Others | Free | Free | per request |
| Post | Free | Free | per request |
| Return Cheques drawn on Banks outside UAE-OCC Return Charges | 52.50 | 52.50 | per request |
Remittances and Payments
| Priority (AED) | Private Banking (AED) | Frequency | |
|---|---|---|---|
| Managers Cheque/Pay Order/Demand Draft | |||
| Issuance to customers/LCY | 31.50 | Free | per request |
| Amendments/ Cancellation LCY | Free | Free | per request |
| Issuance to Customers/FCY | 31.50 | Free | per request |
| Amendments/ Cancellation FCY | Free | Free | per request |
| Inwards from foreign currency/FCY | |||
| DD/ Cheque | Free | Free | per request |
| TT | Free | Free | per request |
| Cash LCY | Free | Free | per request |
| Cash FCY | Free | Free | per request |
| Same Currency Cash FCY | 1% of funds deposited or withdrawn | 1% of funds deposited or withdrawn | per request |
| Outwards | |||
| TT Local (Through Branches) | 5.25 | Free | per transaction |
| TT Local (Through Online) | 1.05 | Free | per transaction |
| TT International when "OUR" or "SHA" is selected. AED 94.50 otherwise | 63 | Free | per transaction |
| FCY to countries other than FCY issuing country when "OUR" or "SHA" is selected. AED 105 otherwise | 63 | Free | per transaction |
| Correspondent bank fees* DD/TT | As per actual correspondent bank charges | per transaction | |
| Standing Order - Setup Internal, External, Amendment, Cancellation, Execution & Non Execution | Free for Individuals, 52.50 for companies | Free | per instance |
| Fax Indemnity | Free | Free | per request |
| Swift message copy | Free | Free | NA |
| Insufficient Funds | 26.25 | 26.25 | per instance |
| Balance Order/SWEEP | Free | Free | per request |
| Special Clearing - Inward | 157.50 | 157.50 | per request |
| Special Clearing - Outward | 105 | 105 | per request |
| Special Clearing - Outside Emirate | 157.50 | 157.50 | per request |
| Euro Maintenance Fee (For Companies only) | EUR 36.75 | 0 | per request |
* 1) As per correspondent bank charges
2) Only "SHA" option is available for USD transfers as the Beneficiary will still be charged USD 21 or as applicable from the correspondent bank. This excludes transfers to the USA.
ATM/Debit Cards
| Priority (AED) | Private Banking (AED) | Frequency | |
|---|---|---|---|
| Card Issuance | No Fee | No Fee | NA |
| Issuance of Supplementary Card | No Fee | No Fee | NA |
| Replacement of Lost or Stolen Card | 26.25 | 26.25 | per request |
| Replacing Secret PIN Code | No Fee | No Fee | NA |
| UAE Switch (Per transaction) - Cash Withdrawal | 2.1 | 2.1 | per transaction |
| UAE Switch (Per transaction) - Balance Inquiry / Declined Transaction | 1.05 | 1.05 | per transaction |
| GCCNET (Per transaction) - cash withdrawal | 6.3 | 6.3 | per transaction |
| GCC ATM Balance Inquiry | 3.15 | 3.15 | per transaction |
| Foreign currency transaction in non-UAE dirhams1 | 2% | 2% | per transaction |
| Fee for using the ATM/Debit Card outside UAE | 21 | 21 | per transaction |
| Foreign currency transaction in UAE dirhams2 | 1.99% | 1.99% | per transaction |
| Copy of Sales slip | 26.25 | 26.25 | per request |
2This fee is charged for transactions where customers may sometimes be offered the option to settle foreign currency transaction in UAE dirhams at the point of sale overseas. Such option is a direct arrangement offered by the overseas merchants and not the Bank (card issuer). This fee is charged in addition to the standard processing fee (approximately 1.15%) charged by MasterCard or Visa and mark-up fee charged by acquirer, if any .
Documents & Statements
| Priority (AED) | Private Banking (AED) | Frequency | |
|---|---|---|---|
| Account Balance Letter | 52.50 | Free | per request |
| Statement of Accounts (per month) | Nil | Free | per request |
| No Liability Certificate | 63 | Free | per request |
| Liability letter issued to Govt. Dept & Embassies | 63 | Free | per request |
| Liability letter issued to financial institutions | 63 | Free | per request |
| Release letter | 52.50 | Free | per request |
| Other types of letters | Audit confirmation letter: 157.50, Others: 157.50 |
Free | per request |
Miscellaneous Service Charges
| Priority (AED) | Private Banking (AED) | |
|---|---|---|
| Trade License updation/Renewal Charge | Nil | Nil |
| Noqodi Evoucher | 10.50 | 10.50 |
| Noqodi Top up | 21 | 21 |
| Smart Business - Subscription Charges | 210 | Nil |
| Smart Business - GPSSA per file upload | 52.50 | 52.50 |
| Smart Business - Password Reset | 52.50 | 52.50 |
| Smart business - Salary - Other Bank Transfer | 3.15 | 3.15 |
| Smart Business - Salary Per Basket/Per File | 105 | 105 |
| Smart Business - WPS – Other Bank Charges | 3.15 | 3.15 |
| Smart Business - WPS Per Basket/Per File | 52.75 | 52.75 |
Notes:
**** All charges, commissions and fees are inclusive of Value Added Tax or any other similar sales tax (VAT). These fees and charges are subject to change, which will apply from the effective date, specified by the Bank.