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 (10 leaves) 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

*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
1This fee is charged on all foreign currency transactions on the Credit Card. This fee is charged in addition to the standard processing fee charged by Mastercard or Visa and is applicable to transactions performed outside UAE (approximately 1.15%).
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.