Service Charges
We would like to advise our customers that we have gone live with a revised Schedule of Service Charges effective from January 1, 2009. These charges have been aligned with market conditions and ensure that we continue to maintain the same high standards of service you have come to expect from us. The schedule also takes into account prevailing trends in the local banking industry and allows for the rising cost of providing efficient banking services and transactions on a sustainable basis to all our valued customers.
Please note that all special rates agreed with the Bank on an individual basis remain unchanged unless the Bank sends a specific notification advising revisions if any.
| Current Account | |
|---|---|
| Min. monthly Avg credit balances requirement | QAR 20,000/- or USD 5,000/- equivalent for foreign currency |
| Monthly charges, if the above average balance is not met. | QAR 200/-, or USD 50/- |
| Closing of account within 12 months of opening | QAR 100/- |
| Daily charges upon account being overdrawan. | QAR 50/-, or USD 20/- |
| Cash handling charges (For QAR 1,000,000 or more) | 0.01% of cash value or QAR 100/- whichever is higher |
| Valid Trade License not provided in 30 days after expiry | QAR 150/- |
| Valid Trade License not provided in 60 days after expiry | QAR 250/- |
| Valid Trade License not provided every 30 days thereafter | QAR 150/- |
| Valid Commercial Registration not provided in 30 days after expiry | QAR 150/- |
| Valid Commercial Registration not provided in 60 days after expiry | QAR 250/- |
| Valid Commercial Registration not provided every 30 days threafter | QAR 150/- |
| Under Formation letter | QAR 400/- |
| Account closure certificate | QAR 150/- |
| Transaction charges/ Teller charges (towards cheque debit and depost, cash deposit, account to account transfer) | QAR 10/- per transaction. First 10 transactions free. |
| Fixed Deposit Accounts | |
| Rate and Tenure | Min deposit requirement of QAR 50,000 and for USD 15,000. Period min. 7 days to 1 year |
| Premature Withdrawal of fixed Deposit | Min 2% interest paid below the rate applicable for the elapsed period. |
| Call Account | |
| Interest rate | No interest paid below QAR.100K or as agreed on a case to case basis or if amount is withdrawn without notice of 3 working days. |
| Minimum daily closing balance requirement for the account to earn interest | QAR 100,000 or USD 30,000 |
| Credit Facility | |
| Setup (arrangement) charges annual facility renewal and/or new facility | 1% (flat) of total facilities min QAR 5,000/- |
| Amendment charges (other than fixed period loans) | 1% (flat) of total facilities min QAR 5,000/- |
| Commitment fee on loans | 0.5% p.a. on undrawn loan amount charged quarterly |
| Cheque Book Issuance | |
| Standard cheques | QAR 1/- per leaf |
| Customised cheques | as per cost |
| Post Dated Cheques (PDC) | |
| Extension of due date | QAR 10/- |
| Custodial service per cheque | QAR 20/- |
| Outstanding PDC report | QAR 25/- |
| Replacement/ Premature withdrawl per cheque | QAR 25/- |
| Outward Clearing/ InterCity/ Clean Collection | |
| Inter-city clearing (IBCI) | N/A |
| Special Clearing | QAR 100/- |
| Collection within Country (OBC) | N/A |
| Collection outside Country (FBP) | QAR 100/- |
| Foreign currency cheques/ drafts purchased | QAR 100/- |
| Local Cheques/Bills Discounted(LCD/LBD) | |
| Interest | As agreed |
| Commission per cheque | 1/8% min. QAR 50/- |
| Replacement/ premature withdrawl per cheque | QAR 100/- |
| Extension of due date per cheque | QAR 250/- |
| Outstanding LCD report | QAR 25/- |
| LCD returned unpaid cheques | QAR 100/- |
| Cheques Returned Unpaid | |
| Inward clearing/ book transfer | QAR 300/- |
| Outward local clearing / Inter-city clearing | N/A |
| Collection (OBC) within Country | N/A |
| Collection (OBC) outside Country | QAR 20/- |
| Miscellaneous Charges (Related to cheques) | |
| Request for photocopy of cheque below 6 months old | QAR 50/- |
| Request for photocopy of cheque more 6 months old | QAR 150/- |
| Ad-hoc request for statement | QAR 100/- for less than 6 months old and QAR 200/- for over 6 months old |
| Stop-payment of cheque | QAR 200/- |
| Verification of signature on QAR cheques (for a maximum of 10 cheques per instruction) | QAR 25/- per instruction |
Remittances And Standing Order
| Inward Remittances | |
|---|---|
| Credit into MashreqBank A/C | LCY free if credited to beneficiary of MB a/c & US$ 5.5 equivalent for FCY. |
| Credit account with other banks. | QAR 100/- |
| Paid by PO/DD | QAR.50/- |
| Credit into Mashreq account from vostro account | QAR 25/- |
| Copy of Inward Remittance
SWIFT Message | Less than 6 months ago QAR 50/-
More than 6 months ago QAR 150/- |
| Outward Remittances | |
| Salary transfer to other banks | N/A |
| Drafts/ pay order issuance | QAR 25/- |
| Request for stop payment of pay order /demand draft | QAR 100/- |
| Request for issuance of duplicate pay order/demand draft | QAR 100/- |
| Telex transfer-Qatar | QAR 55/- |
| Telex transfer- Outside Qatar | QAR 100/- |
| Additional cost of Telex Transfers with charges "OUR" instructions | USD 50/- (or its equivilant in other currency) |
| Responding/ raising inquiries on behalf of customer | QAR 50/- |
| Cancellation of remittances instructions | QAR 100/- |
| Cancellation of DD/PO (Original instrument presented) | QAR 50/- |
| Copy of onward remittance transmitted | Less than 6 months QAR 50/-
More than 6 months QAR 150/- |
| TT return due to discripancy, per transaction | QAR 50/- |
| Standing Order Instructions | |
| Setup/ Amendment | Setup - QAR 100/-
Amendment - QAR 50/- |
| Execution | QAR 20/- plus standard charges |
| Insufficient funds to execute | QAR 35/- |
| Request for calling back funds remitted against standing instructions | QAR 200/- |
| Copy of standing order instruction application | Less than 6 months QAR 50/-
More than 6 months QAR 150/- |
| Standing order cancellation or suspension | QAR 20/- (per instance) |
| Balance (sweep) orders:
- Set up charge - Amendment charges | QAR 50/- per instruction QAR 20/- per instruction. |
| Certified Post Dated Cheques | |
| Post Dated Cheques certified good | 1/10% pm (min.3 months) |
| for payment. | Min. QAR 250/- |
| Penal Interest Rate | |
| If amount exceeds arrangements | additional 2% p.a. min. |
| Overdue Amount | additional 2% p.a. min. |
| Miscellaneous Charges | |
| Minimum Interest charges | QAR 50/- p.m. |
| Balance/audit confirmation | QAR 200/- |
| Trade information | QAR 100/- |
| Other certificates | QAR 100/- |
| Customs duty receipt | QAR 50/- |
| Mashreqbusinessonline | |
| Setup charges (one time cost) | QAR 500/- |
| Electronic signature card (per financial user) | QAR 400/- |
| Password regeneration | QAR 100/- |
| Monthly Fee | |
| Enquiry Module only | QAR 100/- |
| Enquiry & Transaction Module | QAR 200/- |
| Premature withdrawal of PDC | QAR 15/- |
| Payroll Salary Transfer | |
| To Mashreq Account | QAR 2.00 per record-maximum 100 |
| To Other Bank Account | QAR 5.00 per record |
| Draft/Pay Order issuance | QAR 15/- |
| Telex Transfer-Qatar | QAR 50/-(Telex Transfer-Qatar) |
| Statement download | QAR 5/- |
| Account to Account Transfers | QAR 5/- |
Exports And Guarantees
| Export letters of credit | |
|---|---|
| Pre Advice of LC | QAR 150/- |
| Confirmation charges | As per arrangement Subject to min. QAR 500/- |
| Documents processing/ negotiation commission | 1/8% flat (minimum QAR 750/- ) |
| Advising | QAR 300/- |
| Advising of Amendments | QAR 150/- |
| Handing charges where Mashreq is not a negotiating Bank | QAR 250/- |
| Transfer to third party | 1/4%, min. QAR 500/- |
| Reimbursement | QAR 500/- or USD 140/- or EUR 100/- |
| Discrepency handling charges | USD 150/- per set of docs |
| Avalisation | As per FID |
| Assignement of proceeds under (export) LCs | Flat Charge of QAR 750/- |
| Processing fee on packing credit | QR 350/- |
| Loan Against Foreign Bills Purchased (LAFB) | QAR 100/- |
| Remittance of Funds through third bank | QAR 180/- |
| Claiming of re-imbursement charges under export LC | QAR 120/- |
| Outward Documentary Bills for Collection (ODBC) | |
| ODBC documents handling charges | 1/8%, min QAR 250/- |
| Amendments to bills for collection | QAR 100/- |
| Documents returned unpaid | QAR 100/- |
| Bills Purchased/ Discounted | |
| Processing fee | Min QAR 250/- |
| Loan against foreign bills purchased (LAFB) | |
| Processing fee | 1/8%, min QAR 250/- |
| Issuance of Letter of Guarantee (LG) | |
| Contract Finance Guarantees - bid / performance bonds / advance pyt / retention and other g'tee commission - Normal | 1/6% pm (min. 3 months) min QAR 500/- or as per contract |
| Commission on guarantees passed on | QAR 500/- |
| Amendment of LG (other than extension or enhancement) | QAR 500/- |
| Open-ended guarantees | 1/5% pm (min. 3 months) min. QAR 250/- per quarter (in case of labour guarantees QAR 250/- per annum) |
| Commission of issuance of Auto Renewal Guarantees | 1/5% pm (min. 3 months) min. QAR 500/-) |
| Extension or enhancement on LG value | QAR 500/- + standard LG charges |
| Processing of non-standard/long text guarantees | QAR 100/- additional |
Imports
| Import-Letters of Credit | |
|---|---|
| Issuance commission on Sight LC | 1/6% pm (min. 3 months) min. QAR 500/-) |
| Issuance commission on Usance LC | 1/6% pm (min. 3 months) min. QAR 500/-) |
| Revolving LC commissionon each revolved amount | 1/4% pm min. QAR 1000/- |
| Extension &/or enhancement in LC value | QAR 500/- plus standard LC charges |
| Acceptance Commission (LC expiry to draft maturity) | 1/6% pm min. QAR 500/- |
| Cancellation | QAR 500/- |
| Handling charges for discrepant documents | QAR 500/- per presentation |
| Settlement of open account transactions (against trust receipt) | 0.125% (flat fee) OR QAR.250/- whichever is higher. |
| Amendments to LCs (other than in value or expiry date) | QAR 500/- |
| Bills not settled within agreed time frame | min 2% penal rate over and above the agreed interest rate |
| Issuance of Shipping guarantee (with margin) | QAR 100/- |
| Issuance of Shipping guarantee (without margin) | 1/8% of invoice value min QAR 100/- |
| Safe keeping charges on each discrepant document pending acceptance/instructions for more than two months after receipt | USD 50/- or equivalent per month (either to be deducted from proceeds or claimed from the negotiating bank as appropriate except where charges are for the applicant’s account). |
| Inward documentary bills for collection (IDBC) | |
| Documentary collection handling commission | 1/8%, min. QAR 250/- |
| Documents delivered free of payment (where authorized by presenter) | 1/4%, min. QAR 250/- |
| Admin. Fees on documents held unpaid after one month of sight or due date | QAR 500/- |
| Avalisation of drafts | 1/8% pm (min. 3months) min. QAR 250/- |
| Documents transferred to local Banks | QR 300/- |
| Amendments to bills for collection | QAR 100/- |
| Documents returned unpaid | QAR 150/- |
| Other Trade Related Charges | |
| Full text swift/telex charges | QAR 300/- |
| Brief text swift/telex charges | QAR 150/- |
| Courier Charges | QAR 300/- |
| Other swift messages | USD 30/- |
| Request for photocopy of docts | less than 6 months old QAR 50/-
more than 6 months old QAR 150/- |
General conditions
- All fees and charges listed herein apply only for normal transactions and Mashreqbank customers only.
- Any charges levied by the Correspondent Bank will be recovered where incurred.
- Incidental expenses such as postage, fax , swift. Telex , etc. will be charged where incurred.
- All terms and conditions mentioned here are subject to change without notice.
- Tariff for services not mentioned in this booklet wil be available on request.