SCHEDULE OF SERVICE CHARGES – CORPORATE ACCOUNTS
These Charges are effective from 1st October 2007
1. GENERAL CONDITIONS:
- Any fees listed herein apply only to normal transactions. The Bank reserves the right to levy additional charges for any services rendered at its sole discretion.
- Accounts where the operating costs exceed the value of the account balance to the bank may also attract some additional charges.
- Other expenses, such as stamps, postages, cable, fax ,courier charges etc. not included in this schedule will be charged as and when incurred.
- Charges for any services not mentioned in this booklet will be available upon request.
- All terms and conditions mentioned in this schedule are subject to amendment without any prior notice.
2. CURRENT AND SAVINGS ACCOUNTS:
Current and Savings accounts are offered to individual customers in the national currency (AED) and in major foreign currencies. Standard cheque books are issued free of charge for Dirham Current Account holders. Specially designed cheque books are also available and charges depend on design and specifications. USD Cheque Books are available on request and charged at US$ 5.00
The following charges are applicable on all Current/Savings Accounts in all currencies:
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Charges |
Additional Description |
| Accounts with Average Minimum Balance stated below will be charged as follows |
AED 100 or equivalent per month if Min balance is below 20,000 |
Or equivalent |
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AED 50 or equivalent per month if Min balance is between 20,001 & 45,000 |
Or equivalent |
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Free if over AED 45,001 |
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| Closure of Account |
AED 200 |
If closed within 3 months of opening |
| External Auditors Balance Confirmation |
AED 100 |
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| Obtaining Bank Status Report |
AED 75 |
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| Certificate of Balances Held |
AED 75 |
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| Letter of Reference Issuance |
AED 100 |
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| Cheque Books |
AED 50 per book |
If cheque book not withdrawn within 2 months |
Notes:
1. Unauthorized overdrafts will be subject to a debit interest rate set at the discretion of the Bank.
2. The bank reserves the right to raise the minimum balance requirement and/or impose a transaction charge on an account if the number of transactions exceed an acceptable level. |
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| Minimum Balance |
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| Call Accounts |
AED 50,000 or Equivalent |
No interest will be paid if balance falls below the required minimum balance |
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AED 75,000 or Equivalent |
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| Withdrawal before maturity on AED & USD Fixed Deposits |
Penalty of 2% p.a. will be applied on the prevailing interest rate at the time of withdrawal |
Withdrawal from Fixed Deposits needs a minimum notice of 3 working days |
| In other currencies |
Penalty will be at the discretion of the Bank in line with market rates |
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Charges |
Additional Description |
| Special Clearing |
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| Drawn on us |
AED 75 per item |
Settled by Managerial Cheque |
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AED 125 per item |
Settled by TT through Central Bank |
| Drawn on other Bank |
AED 250 per item |
If presented by our representative on behalf of the customer |
| Standing Instructions * |
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AED 100 per instruction |
Setting up/amendment of standing order |
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| * A standing order payment for payment to an account with another bank will attract standard cashier’s order or SWIFT charges as appropriate |
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Charges |
Additional Description |
| Returned Unpaid Cheques |
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| Drawn on us for * |
AED 200 |
Insufficient Funds |
| Deposited in the account |
AED 25 |
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| Miscellaneous Charges |
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| Stop Payment Cheque |
AED 100 |
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| Photocopy of Cheque Paid |
AED 25 |
Up to Six months |
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AED 150 |
Over 6 months |
| * Accounts which have more than 4 cheques returned for insufficient funds will be closed and account holder name reported to UAE Central Bank as per Central Bank regulations |
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Charges |
Additional Description |
| Cash Deposits |
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| In AED |
Free of Charge |
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An Exchange commission of 1% (minimum AED 50/-) will be charged on US$ bank notes |
Or as per prior agreement |
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Charges |
Additional Description |
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| Drawn on Banks located in Dubai/Sharjah/Abu Dhabi |
Nil |
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| Drawn on other Locations |
AED 50 |
+ Agent’s charges |
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| Post Dated Cheques for collection |
AED 15 per item |
+ Agent’s charges if applicable |
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Charges |
Additional Description |
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| Cheques Discount |
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AED 10 per item (minimum AED 25 per schedule) |
A commission of 1/8% on the full amount is levied in addition to interest charges for the period. Interest will be taken upfront as per the agreed interest rate |
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Charges |
Additional Description |
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| Personal Instalment Loans |
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| Interest Rate |
As per prior agreement |
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| Arrangement Fees |
As per prior agreement |
Minimum AED 250 |
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| Commission |
1% flat or as per prior agreement |
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| Insurance |
As per prior agreement |
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| Penalty rate for repayment prior to maturity |
As per prior agreement |
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| Penalty rate in case of default or late payment |
2% over the existing loan rate |
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| Instalment default fee |
AED 100 |
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| Instalment deferral fee |
AED 50 |
+ interests |
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Charges |
Additional Description |
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| Outward SWIFT Transfers |
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| UAE Dirham / Central Bank |
AED 75 |
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Foreign Currency
(1 Message) |
AED 75 or Equivalent |
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Foreign Currency
(2 Messages) |
AED 125 or Equivalent |
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Charges |
Additional Description |
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| Outward SWIFT Transfers |
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| Beneficiaries account with BLOM Group |
Special rate will be applied |
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Charges |
Additional Description |
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| Banker’s Cheque |
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| Managerial Cheques in AED |
0.10% of cheque amount or Min AED 50 – Max 100 |
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| Cheques in US$, STG, EUR, Etc… |
0.10% of cheque amount or equivalent Min AED 50 – Max 100 |
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| Trade Finance Transactions |
Charges |
Additional Description |
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| Outward Documentary Collection |
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| At Sight or Term |
1/8% flat, Minimum AED 200 plus postage/Swift |
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| Free of Payment |
¼% flat, Minimum AED 200 plus postage/Swift |
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| Inward Documentary Collection |
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| At Sight or Term |
1/8% flat, Minimum AED 150 plus postage/Swift |
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| Free of Payment |
¼% flat, Minimum AED 150 plus postage/Swift |
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| Import Letters of Credit |
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| L/C’s up to and including AED 300,000 or equivalent |
1/8% per month (minimum 3/8%) or AED 250 whichever is higher |
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| L/C’s over AED 300,000 or equivalent |
1/8% per month on AED 300,000 plus 1/16% per month on balance. (minimum charge for a 3 month period) |
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| SWIFT charges |
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| Opening |
AED 300 |
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| If L/C is over 3 pages |
AED 25 per page additional |
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| Amendment |
AED 100 |
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| Postage & Handling charges |
AED 25 |
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| Amendment |
AED 250 per amendment; for extensions & increases, same commissions as opening applies |
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| Acceptance |
1/8% per month (minimum AED 250) |
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| L/C unutilised |
AED 350 |
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| Excess drawing commission |
1/8% on excess (minimum AED 100) |
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| Discrepant Documents |
US$ 75 or Equivalent (to be deducted from the proceeds) |
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| Back to Back L/C’s issuance |
Additional processing fee AED 500 |
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| Revolving L/C |
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| Commission |
3/8% of L/C value irrespective of amount and validity. Min AED 250 plus 1/8% on each negotiation |
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| Export Letters of Credit |
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| Advising commission |
AED 250 or equivalent |
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| Amendment advising commission |
AED 150 |
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| Confirmation (subject to approval by the Bank) |
On case by case basis |
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| Negotiation / Acceptance commission |
1/8% flat subjest to a minimum of AED 250 |
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| Discrepant Documents |
US$ 75 or Equivalent (to be charged to customer’s account) |
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| Letters of Guarantee |
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| Issuance |
1.50% p.a. (minimum 3 months) subject to a minimum of AED 150 up to 1 year validity. 2% p.a. for auto renewable |
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| Extensions/amendment in amount |
AED 150 per amendment |
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| Shipping Guarantees |
1/8% of the invoice value less margin held. Minimum AED 150 |
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| Payment/Labour Guarantees |
1% p.a. Minimum AED 150 if fully secures by cash collateral (minimum 3 months); otherwise 2% p.a. |
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| Postage |
AED 25 |
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| Courier Charges |
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| Within UAE |
AED 75 |
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| Other Countries |
Depending on Country & on Courier provider – Minimum AED 200 |
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| Set up & Renewal of Facilities |
Credit facilities would attract charges left at the sole discretion of the Bank and which will be advised at the time to the sanction of these facilities |
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| Commitment Fee only on Loans |
A fee on un-drawn facility will be charged on quarterly basis, as per agreement |
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| Safe Deposit Lockers |
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| Refundable Deposit |
AED 1000 |
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| Replacement of Lock/Key |
At cost |
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| Annual Charges |
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| Small |
AED 500 |
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| Medium |
AED 600 |
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| Big |
AED 700 |
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| Large |
AED 900 |
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| ATM Card |
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| Issuance |
Free |
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| Re-issue PIN/Card |
AED 25 |
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| BLOM BANK SAL, LEBANON Credit Cards |
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Annual Charge (US$) |
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| Type |
Issuance Charge (US$) |
Principal
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Additional |
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| Platinum |
150 |
250 |
125 |
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| Gold |
Free |
100 |
25 |
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| Classic |
Free |
40 |
20 |
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| Internet |
Free |
20 |
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