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) | |
|---|---|---|
| Average monthly minimum balance | AED 500,000 or Salary Transfer of AED 50,000 or above* | By Invitation |
| **Fall below fee (Applicable if Avg balance < AED 3,000) | 26.25 | Nil |
| 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 |
| Account closing charges (Before 12 months) | 105 | 105 |
| Dormant account charges | Nil | Nil |
| Utility Bill Payment: Over the Counter | 10 | 10 |
| SMS monthly fee | Nil | Nil |
*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) | |
|---|---|---|
| Cheque book charges (10 leaves) | Free | Free |
| Uncollected cheque book | Free | Free |
| Cheque returned charges - Inward (Personal) | 105 | 105 |
| Cheque return - Inward (Return Reason "Represent after 3 working days") for every item responded |
105+* | 105+* |
| Returned outward clearing cheques (Personal) | Free | Free |
| Cheque photocopy less than 1 year | Free | Free |
| Cheque photocopy over 1 year | Free | Free |
| Special Clearing - Inward | 157.50 | 157.50 |
| Special Clearing - Outward | 105 | 105 |
| Special Clearing - Outside Emirate | 157.50 | 157.50 |
| Collection of cheques - Emirates with own branches | Free | Free |
| Collection of cheques - Remote areas | Free | Free |
| Collection of cheques - Drawn outside UAE/FCY: Commission + corresponding banking charges apply | 0.1% (Min AED 57.50, max AED 525 or equivalent FCY) | 0.1% (Min AED 57.50, max AED 525 or equivalent FCY) |
| Stop Cheque Charges (per request) | Nil | Nil |
| PDC Extension/Lodgement/Cancellation Charge | Nil | Nil |
*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 |
Courier Charges
| Priority (AED) | Private Banking (AED) | |
|---|---|---|
| AGCC | Free | Free |
| Others | Free | Free |
| Post | Free | Free |
| Return Cheques drawn on Banks outside UAE-OCC Return Charges | 52.50 | 52.50 |
Remittances and Payments
| Priority (AED) | Private Banking (AED) | ||
|---|---|---|---|
| Managers Cheque/Pay Order/Demand Draft | |||
| Issuance to customers/LCY | 31.50 | Free | |
| Amendments/ Cancellation LCY | Free | Free | |
| Issuance to Customers/FCY | 31.50 | Free | |
| Amendments/ Cancellation FCY | Free | Free | |
| Inwards from foreign currency/FCY | |||
| DD/ Cheque | Free | Free | |
| TT | Free | Free | |
| Cash LCY | Free | Free | |
| Cash FCY | Free | Free | |
| Same Currency Cash FCY | 1% of funds deposited or withdrawn | 1% of funds deposited or withdrawn | |
| Outwards | |||
| TT Local (Through Branches) | 5.25 | Free | |
| TT Local (Through Online) | 1.05 | Free | |
| TT International when "OUR" or "SHA" is selected. AED 94.50 otherwise | 63 | Free | |
| FCY to countries other than FCY issuing country when "OUR" or "SHA" is selected. AED 105 otherwise | 63 | Free | |
| Correspondent bank fees* DD/TT | As per actual correspondent bank charges | ||
| Standing Order - Setup Internal, External, Amendment, Cancellation, Execution & Non Execution | Free for Individuals, 52.50 for companies | Free | |
| Fax Indemnity | Free | Free | |
| Swift message copy | Free | Free | |
| Insufficient Funds | 26.25 | 26.25 | |
| Balance Order/SWEEP | Free | Free | |
| Special Clearing - Inward | 157.50 | 157.50 | |
| Special Clearing - Outward | 105 | 105 | |
| Special Clearing - Outside Emirate | 157.50 | 157.50 | |
| Euro Maintenance Fee (For Companies only) | EUR 36.75 | 0 | |
* 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) | |
|---|---|---|
| Card Issuance | Free | Free |
| Issuance of Supplementary Card | Free | Free |
| Replacement of Lost or Stolen Card | Free (Effective 10th September 2021 AED 26.25 charges will apply) |
Free (Effective 10th September 2021 AED 26.25 charges will apply) |
| Replacing Secret PIN Code | Free | Free |
| UAE Switch (Per transaction) - Cash Withdrawal | 2.1 | 2.1 |
| UAE Switch (Per transaction) - Balance Inquiry / Declined Transaction | 1.05 | 1.05 |
| GCCNET (Per transaction) - cash withdrawal | 6.3 | 6.3 |
| GCC ATM Balancy Inquiry | 3.15 | 3.15 |
| Forex Charges* | 2%* | 2%* |
| Fee for using the ATM/Debit Card outside UAE | 21 | 21 |
| Overseas transaction in UAE Dirhams | 1.99% | 1.99% |
| Copy of Sales slip | 26.25 | 26.25 |
Documents & Statements
| Priority (AED) | Private Banking (AED) | |
|---|---|---|
| Account Balance Letter | 52.50 | Free |
| Statement of Accounts (per month) | Nil | Free |
| No Liability Certificate | 63 | Free |
| Liability letter issued to Govt. Dept & Embassies | 63 | Free |
| Liability letter issued to financial institutions | 63 | Free |
| Release letter | 52.50 | Free |
| Other types of letters | Audit confirmation letter: 157.50, Others: 157.50 |
Free |
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.