Priority and Private Banking Changes

Schedule of Fees and Charges on Investment Accounts


Priority (AED) Private Banking (AED)
Custody and Administration Fees
Custody 0.25% per annum calculated daily based on the portfolio value and charged in arrears on quarterly basis 0.25% 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% of investment amount Up to 2% of investment amount
Sukuks Up to 3% of investment amount Up to 3% 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 200
Funds Transaction Fees
Mutual Funds Up to 5% of investment amount Up to 5% 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 200 and in addition to any fees changes by the fund provider.

The above fees apply to securities that are help 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.



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) 25 Nil
Teller Charges (Transaction per month/fee) 60 free per month thereafter AED 10 per transaction 60 free per month thereafter AED 10 per transaction
Account closing charges (Before 12 months) 100 100
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) 100 100
Cheque return - Inward (Return Reason "Represent after 3 working days") for every item responded
100+* 100+*
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 150 150
Special Clearing - Outward 100 100
Special Clearing - Outside Emirate 150 150
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 50, max AED 500 or equivalent FCY) 0.1% (Min AED 50, max AED 500 or equivalent FCY)
Stop Cheque Charges (per request) Nil Nil
PDC Extension/Lodgement/Cancellation Charge Nil Nil

*Cheque returned charges AED 100 + Cheque Return with the code represent after 3 working days AED 100 = Total AED 200


Direct Debit Charges


Non Payment due to insufficient funds 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 50 50

Remittances and Payments


Priority (AED) Private Banking (AED)
Managers Cheque/Pay Order/Demand Draft
Issuance to customers/LCY 30 Free
Amendments/ Cancellation LCY Free Free
Issuance to Customers/FCY 30 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 Free
TT Local (Through Online) 1 Free
TT International when "OUR" or "SHA" is selected. AED 90 otherwise 60 Free
FCY to countries other than FCY issuing country when "OUR" or "SHA" is selected. AED 100 otherwise 60 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, 50 for companies Free
Fax Indemnity Free Free
Swift message copy Free Free
Insufficient Funds 25 25
Balance Order/SWEEP Free Free
Special Clearing - Inward 150 150
Special Clearing - Outward 100 100
Special Clearing - Outside Emirate 150 150
Euro Maintenance Fee (For Companies only) EUR 35 0

* 1) As per correspondent bank charges
  2) Only "SHA" option is available for USD transfers as the Beneficiary will still be charged USD 20 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 Free
Replacing Secret PIN Code Free Free
UAE Switch (Per transaction) - Cash Withdrawal 2 2
UAE Switch (Per transaction) - Balance Inquiry / Declined Transaction 1 1
GCCNET (Per transaction) - cash withdrawal 6 6
GCC ATM Balancy Inquiry 3 3
Forex Charges* 2%* 2%*
Fee for using the ATM/Debit Card outside UAE 20 20
Overseas transaction in UAE Dirhams 1.99% 1.99%
Copy of Sales slip 25 25
*This fee is charged in addition to the standard processing fee charged by MasterCard International or Visa International and is applicable to transactions performed in any currency other than UAE Dirham (approximately 1.15%)

Documents & Statements


Priority (AED) Private Banking (AED)
Account Balance Letter 50 Free
Statement of Accounts (per month) Nil Free
No Liability Certificate 60 Free
Liability letter issued to Govt. Dept & Embassies 60 Free
Liability letter issued to financial institutions 60 Free
Release letter 50 Free
Other types of letters Audit confirmation letter: 150,
Others: 150
Free

Miscellaneous Service Charges

Priority (AED) Private Banking (AED)
Trade License updation/Renewal Charge Nil Nil
Noqodi Evoucher 10 10
Noqodi Top up 20 20
Smart Business - Subscription Charges 200 Nil
Smart Business - GPSSA per file upload 50 50
Smart Business - Password Reset 50 50
Smart business - Salary - Other Bank Transfer 3 3
Smart Business - Salary Per Basket/Per File 100 100
Smart Business - WPS – Other Bank Charges 3 3
Smart Business - WPS Per Basket/Per File 55 55

Notes:
****All charges, commissions and fees are exclusive of Value Added Tax or any other similar sales tax (VAT).