Service Charges
We would like to advise our customers that we have gone live with a revised Schedule of Service Charges effective from August 15, 2010. 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 25,000/- or USD 6,000/- equivalent for foreign currency |
| Monthly charges, if the above average balance is not met. | QAR 230/-, or USD 60/- |
| Closing of account within 12 months of opening | QAR 115/- |
| Daily charges upon account being overdrawn. | QAR 60/-, or USD 25/- |
| Cash handling charges (For QAR 1,000,000 or more) | 0.0115% of cash value or QAR 115/- whichever is higher |
| Valid Trade License not provided in 30 days after expiry | QAR 300/- |
| Valid Trade License not provided in 60 days after expiry | QAR 600/- |
| Valid Trade License not provided every 30 days thereafter | QAR 300/- |
| Valid Commercial Registration not provided in 30 days after expiry | QAR 300/- |
| Valid Commercial Registration not provided in 60 days after expiry | QAR 600/- |
| Valid Commercial Registration not provided every 30 days threafter | QAR 300/- |
| Under Formation letter | QAR 500/- |
| Account closure certificate | QAR 500/- |
| Transaction charges/ Teller charges (towards cheque debit and depost, cash deposit, account to account transfer) | QAR 15/- 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 2.3% 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| Interest rate | No interest paid below QAR 100K or as agreed on a case to case basis or if amount is withdrawn without notice of 3 working days.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 | 1.5% (flat) of total facilities min QAR 5,000/- |
| Amendment charges (other than fixed period loans) | 1.5% (flat) of total facilities min QAR 5,000/- |
| Commitment fee on loans | 0.7% 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 15/- |
| Custodial service per cheque | QAR 30/- |
| Outstanding PDC report | QAR 40/- |
| Replacement/ Premature withdrawl per cheque | QAR 30/- |
| Outward Clearing/ InterCity/ Clean Collection | |
| Inter-city clearing (IBCI) | N/A |
| Special Clearing | QAR 140/- |
| Collection within Country (OBC) | N/A |
| Collection outside Country (FBP) | QAR 140/- |
| Foreign currency cheques/ drafts purchased | QAR 130/- |
| Local Cheques/Bills Discounted(LCD/LBD) | |
| Interest | As agreed |
| Commission per cheque | 0.15% min. QAR 60/- |
| Replacement/ premature withdrawl per cheque | QAR 115/- |
| Extension of due date per cheque | QAR 300/- |
| Outstanding LCD report | QAR 30/- |
| LCD returned unpaid cheques | QAR 115/- |
| Cheques Returned Unpaid | |
| Inward clearing/ book transfer | QAR 350/- |
| Outward local clearing / Inter-city clearing | N/A |
| Collection (OBC) within Country | N/A |
| Collection (OBC) outside Country | QAR 25/- |
| Miscellaneous Charges (Related to cheques) | |
| Request for photocopy of cheque below 6 months old | QAR 60/- |
| Request for photocopy of cheque more 6 months old | QAR 175/- |
| Ad-hoc request for statement | QAR 115/- for less than 6 months old and |
| QAR 230/- for over 6 months old | |
| Stop-payment of cheque | QAR 230/- |
| Verification of signature on QAR cheques (for a maximum of 10 cheques per instruction) | QAR 30/- per instruction |
Remittances And Standing Order
| Inward Remittances | |
|---|---|
| Credit into MashreqBank A/C | LCY free if credited to beneficiary of MB a/c & US$ 6.0 equivalent for FCY. |
| Credit account with other banks. | QAR 140/- |
| Paid by PO/DD | QAR.60/- |
| Credit into Mashreq account from vostro account | QAR 30/- |
| Copy of Inward Remittance | Less than 6 months ago QAR 70/- |
| SWIFT Message | More than 6 months ago QAR 200/- |
| Outward Remittances | |
| Salary transfer to other banks | N/A |
| Drafts/ pay order issuance | QAR 40/- |
| Request for stop payment of pay order /demand draft | QAR 115/- |
| Request for issuance of duplicate pay order/demand draft | QAR 115/- |
| Telex transfer-Qatar | QAR 65/- |
| Telex transfer- Outside Qatar | QAR 115/- |
| Additional cost of Telex Transfers with charges "OUR" instructions | USD 60/- (or its equivilant in other currency) |
| Responding/ raising inquiries on behalf of customer | QAR 60/- |
| Cancellation of remittances instructions | QAR 115/- |
| Cancellation of DD/PO (Original instrument presented) | QAR 60/- |
| Copy of onward remittance transmitted | Less than 6 months QAR 60/- |
| More than 6 months QAR 175/- | |
| TT return due to discripancy, per transaction | QAR 60/- |
| Standing Order Instructions | |
| Setup/ Amendment | Setup - QAR 115/- |
| Amendment - QAR 60/- | |
| Execution | QAR 25/- plus standard charges |
| Insufficient funds to execute | QAR 40/- |
| Request for calling back funds remitted against standing instructions | QAR 230/- |
| Copy of standing order instruction application | Less than 6 months QAR 60/- |
| More than 6 months QAR 175/- | |
| Standing order cancellation or suspension | QAR 25/- (per instance) |
| Balance (sweep) orders: | |
| - Set up charge | QAR 60/- per instruction |
| - Amendment charges | QAR 25/- per instruction. |
| Certified Post Dated Cheques | |
| Post Dated Cheques certified good | 0.115% pm (min.3 months) |
| for payment. | Min. QAR 300/- |
| Penal Interest Rate | |
| If amount exceeds arrangements | additional 2.3% p.a. min. |
| Overdue Amount | additional 2.3% p.a. min. |
| Miscellaneous Charges | |
| Minimum Interest charges | QAR 60/- p.m. |
| Balance/audit confirmation | QAR 230/- |
| Trade information | QAR 115/- |
| Other certificates | QAR 115/- |
| Customs duty receipt | QAR 60/- |
| Mashreqbusinessonline | |
| Setup charges (one time cost) | QAR 575/- |
| 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 6.00 per record |
| Draft/Pay Order issuance | QAR 17/- |
| Telex Transfer-Qatar | QAR 60/-(Telex Transfer-Qatar) |
| Statement download | QAR 6/- |
| Account to Account Transfers | QAR 6/- |
Exports And Guarantees
| Export letters of credit | |
|---|---|
| Pre Advice of LC | QAR 175/- |
| Confirmation charges | As per arrangement Subject to min. QAR 575/- |
| Documents processing/ negotiation commission | 0.15% flat (minimum QAR 750/- ) |
| Advising | QAR 350/- |
| Advising of Amendments | QAR 175/- |
| Handing charges where Mashreq is not a negotiating Bank | QAR 300/- |
| Transfer to third party | 0.2875%, min. QAR 575/- |
| Reimbursement | QAR 575/- or USD 165/- or EUR 120/- |
| Discrepency handling charges | USD 175/- per set of docs |
| Assignement of proceeds under (export) LCs | Flat Charge of QAR 750/- |
| Processing fee on packing credit | QR 400/- |
| Remittance of Funds through third bank | QAR 200/- |
| Claiming of re-imbursement charges under export LC | QAR 140/- |
| Outward Documentary Bills for Collection (ODBC) | |
| ODBC documents handling charges | 0.15%, min QAR 300/- |
| Amendments to bills for collection | QAR 115/- |
| Documents returned unpaid | QAR 115/- |
| Bills Purchased/ Discounted | |
| Processing fee | Min QAR 288/- |
| Loan against foreign bills purchased (LAFB) | |
| Processing fee | 0.15%, min QAR 288/- |
| Issuance of Letter of Guarantee (LG) | |
| Contract Finance Guarantees - bid / performance bonds / advance pyt / retention and other g'tee commission - Normal | 0.20% pm (min. 3 months) min QAR 750/- or as per contract |
| Commission on guarantees passed on | QAR 575/- |
| Amendment of LG (other than extension or enhancement) | QAR 500/- |
| Open-ended guarantees | 0.25% pm (min. 3 months) min. QAR 300/- per quarter (in case of labour guarantees QAR 300/- per annum) |
| Commission of issuance of Auto Renewal Guarantees | 0.25% pm (min. 3 months) min. QAR 575/-) |
| Extension or enhancement on LG value | QAR 575/- + standard LG charges |
| Processing of non-standard/long text guarantees | QAR 115/- additional |
| Standby Letter of Credit | |
| Issuance Commission | 0.20% pm (min. 3 months) min. QAR 750/-) |
Imports
| Import-Letters of Credit | |
|---|---|
| Issuance commission on Sight LC | 0.20% pm (min. 3 months) min. QAR 750/-) |
| Issuance commission on Usance LC | 0.20% pm (min. 3 months) min. QAR 750/-) |
| Revolving LC commissionon each revolved amount | 0.30% min. QAR 1150/- |
| Extension &/or enhancement in LC value | QAR 575/- plus standard LC charges |
| Acceptance Commission (LC expiry to draft maturity) | 0.20% pm min. QAR 575/- |
| Cancellation | QAR 575/- |
| Handling charges for discrepant documents | QAR 500/- per presentation |
| Settlement of open account transactions (against trust receipt) | 0.15% (flat fee) OR QAR.300/- whichever is higher. |
| Amendments to LCs (other than in value or expiry date) | QAR 575/- |
| Bills not settled within agreed time frame | min 2.0% penal rate over and above the agreed interest rate |
| Issuance of Shipping guarantee (with margin) | QAR 115/- |
| Issuance of Shipping guarantee (without margin) | 0.15% of invoice value min QAR 115/- |
| Safe keeping charges on each discrepant document pending acceptance/instructions for more than two months after receipt | USD 60/- 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 | 0.15%, min. QAR 300/- |
| Documents delivered free of payment (where authorized by presenter) | 0.2875%, min. QAR 300/- |
| Admin. Fees on documents held unpaid after one month of sight or due date | QAR 575/- |
| Avalisation of drafts | 0.15% pm (min. 3months) min. QAR 300/- |
| Documents transferred to local Banks | QR 350/- |
| Amendments to bills for collection | QAR 115/- |
| Documents returned unpaid | QAR 175/- |
| Other Trade Related Charges | |
| Full text swift/telex charges | QAR 350/- |
| Brief text swift/telex charges | QAR 175/- |
| Courier Charges | QAR 350/- |
| Other swift messages | USD 40/- |
| Request for photocopy of docts | less than 6 months old QAR 60/- |
| more than 6 months old QAR 175/- |
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.