With effect from 1st January 2018, all fees & charges mentioned below are subject to additional 5% VAT - Value Added Tax (with the exclusion of profit & currency conversion charges).
Item | *Value | *Value Plus | First | Premium | Platinum Speed - X |
Monthly Average Balance | AED 10,000 or equivalent in other currencies | AED 25,000 or equivalent in other currencies | AED 50,000 or equivalent in other currencies | AED 150,000 or equivalent in other currencies | AED 350,000 or equivalent in other currencies |
Fall Below Fee | AED 300 p. m. | AED 400 p. m. | AED 400 p. m. | AED 550 p. m. | AED 650 p. m. |
Relationship Fee | AED 100 p.m. or equivalent in other currencies | NIL | NIL | NIL | NIL |
Cheque Book*
(Requests at branch) |
AED 3 (per leaf)
(Second cheque Book Onwards) |
AED 3 (per leaf)
(Second cheque Book Onwards) |
AED 3 (per leaf)
(Second cheque Book Onwards) |
AED 3 (per leaf)
(Second cheque Book Onwards) |
AED 3 (per leaf)
(Second cheque Book Onwards) |
Cheque Book*
(Online Requests) |
Waived | Waived | Waived | Waived | Waived |
ATM /DEBIT Card | Waived | Waived | Waived | Waived | Waived |
ATM replacement | Waived | Waived | Waived | Waived | Waived |
Transaction Fee*
(including Teller Transactions) |
0-3 transactions pm: Waived,
4-20 transactions pm: AED 20 per transaction, >20 transactions pm: AED 40 per transaction |
0-3 transactions pm: Waived,
4-20 transactions pm: AED 20 per transaction, >20 transactions pm: AED 40 per transaction |
0-5 transactions pm: Waived,
6-20 transactions pm: AED 20 per transaction, >20 transactions pm: AED 40 per transaction |
0-7 transactions pm: Waived,
8-20 transactions pm: AED 20 per transaction, >20 transactions pm: AED 40 per transaction |
0-10 transactions pm: Waived,
11-20 transactions pm: AED 20 per transaction, >20 transactions pm: AED 40 per transaction |
Cash Handling Charges | 0.1% of cash value, min AED 1000 for deposits over AED 1 million | 0.1% of cash value, min AED 1000 for deposits over AED 1 million | 0.1% of cash value, min AED 1000 for deposits over AED 1 million | 0.1% of cash value, min AED 1000 for deposits over AED 1 million | 0.1% of cash value, min AED 1000 for deposits over AED 1 million |
Account Statement | Daily statement – AED 100 p.m.
Weekly statement – AED 50 p.m. Monthly statement – AED 25 p.m. |
Daily statement – AED 100 p.m.
Weekly statement – AED 50 p.m. Monthly statement – AED 25 p.m. |
Daily statement – AED 100 p.m.
Weekly statement – AED 50 p.m. Monthly statement – AED 25 p.m. |
Daily statement – AED 50 p.m.
Weekly statement – AED 25 p.m. Monthly statement – AED 25 p.m. |
Daily statement – AED 50 p.m.
Weekly statement – AED 25 p.m. Monthly statement – AED 25 p.m. |
Statement by Fax | Statement by Fax : AED 100 weekly | Statement by Fax : AED 100 weekly | Statement by Fax : AED 100 weekly | Statement by Fax : AED 50 per week | Statement by Fax : AED 50 per week |
**Duplicate Account Statements (Online/IVR) | 0-3 months : AED 25 | 0-3 months : AED 25 | 0-3 months : AED 25 | 0-3 months : AED 25 | 0-3 months : AED 25 |
>3 up to 6 months: AED 50 | >3 up to 6 months: AED 50 | >3 up to 6 months: AED 50 | >3 up to 6 months: AED 50 | >3 up to 6 months: AED 50 | |
>6 months : AED 75 | >6 months : AED 75 | >6 months : AED 75 | >6 months : AED 75 | >6 months : AED 75 | |
**Duplicate Account Statements(Branch) | 0-12 months : AED 250 | 0-12 months : AED 250 | 0-12 months : AED 250 | 0-12 months : AED 250 | 0-12 months : AED 250 |
>12 months AED 300 | >12 months AED 300 | >12 months AED 300 | >12 months AED 300 | >12 months AED 300 | |
Third Party Cheque withdrawal charges – (Only if a Third Party bearer presents the cheque on behalf of the entity) | AED 60 per cheque | AED 60 per cheque | AED 60 per cheque | Waived | Waived |
Daily charges upon account being overdrawn | AED 50 | AED 50 | AED 50 | AED 50 | Waived |
Account Closure Fee | Within 0-6 months AED 100 | Within 0 – 6 months, AED 500 | Within 0 – 6 months, AED 500 | Less than 6 months AED 250. | Less than 6 months AED 400. |
Over 6 months Waived | Over 6 months, waived | Over 6 months, waived | More than 6 months waived | More than 6 months waived | |
Account Dormancy Charge per month (applicable if no customer initiated transaction in any account for 12 months) | AED 25 | AED 25 | AED 25 | AED 25 | AED 25 |
Monthly Account Management Fee (Only Free Zone & Offshore entities) | AED 250 | AED 250 | AED 250 | AED 250 | AED 250 |
*Sourcing of New To Bank “Value" and "Value Plus" variants will be available as part of the COVID-19 Relief Package from April – June 2020. |
*Effective 1st February 2021
Item | *Value | *Value Plus | First | Premium | Platinum Speed - X |
Extension of due date | AED 10 | AED 10 | AED 10 | AED 10 | Waived |
Custodial Service per cheque | AED 20 | AED 20 | AED 20 | AED 20 | Waived |
Outstanding PDC report | AED 25 | AED 25 | AED 25 | AED 25 | Waived |
Replacement/premature withdrawal per cheque | AED 25 | AED 25 | AED 25 | AED 25 | Waived |
Item | *Value | *Value Plus | First | Premium | Platinum Speed - X |
Inter - city clearing (IBCI) | AED 10 | AED 10 | AED 10 | AED 10 | AED 10 |
Special Clearing | AED 205 | AED 205 | AED 205 | AED 205 | AED 205 |
Collection within UAE | AED 50 | AED 50 | AED 50 | AED 50 | AED 50 |
Collection outside UAE | AED 100 | AED 100 | AED 100 | AED 100 | AED 100 |
Foreign Currency Cheques/Drafts Purchased | AED 100 | AED 100 | AED 100 | AED 100 | AED 100 |
Item | *Value | *Value Plus | First | Premium | Platinum Speed - X |
Inward clearing / book transfer | AED 350 | AED 350 | AED 350 | AED 350 | AED 350 |
Outward local Clearing / Inter - City / Clean Collection | AED 50 | AED 50 | AED 50 | AED 50 | AED 50 |
Item | *Value | *Value Plus | First | Premium | Platinum Speed - X |
Request for Photocopy of Cheques
(less than 6 months) |
AED 100 | AED 100 | AED 100 | AED 50 | Waived |
More than 6 months old | AED 200 | AED 200 | AED 200 | AED 100 | Waived |
Stop Payment per Cheque | AED 200 | AED 200 | AED 200 | AED 100 | Waived |
Stop Payment per Cheque (Max) | AED 500 | AED 500 | AED 500 | AED 300 | Waived |
Item | *Value | *Value Plus | First | Premium | Platinum Speed - X |
Credit into Mashreq A/C | Waived | Waived | Waived | Waived | Waived |
Credit account with other banks | AED 100 | AED 100 | AED 100 | AED 100 | AED 100 |
Paid by PO/DD | AED 50 | AED 50 | AED 50 | AED 50 | AED 50 |
Credit into Mashreq a/c from Vostro a/c | AED 25 | AED 5 | AED 5 | AED 25 | AED 25 |
Copy of Inward Remittance Swift Message | Less than 6 months AED 50
More than 6 months AED 150 |
Waived | Waived | Less than 6 months AED 50
More than 6 months AED 150 |
Waived |
Item | *Value | *Value Plus | First | Premium | Platinum Speed - X |
Draft / pay order Issuance | AED 25 | AED 25 | AED 25 | AED 25 | AED 25 |
Request - stop payment pay order/DD | AED 100 | AED 100 | AED 100 | AED 100 | AED 100 |
Request -Issuance of duplicate PO/DD | AED 25 | AED 25 | AED 25 | AED 25 | AED 25 |
Local Funds Transfer in AED | AED 40 | AED 40 | AED 30 | AED 20 | AED 20 |
(Transactions done at Branch) | |||||
**Local Funds Transfer in AED | AED 3 | AED 3 | AED 3 | AED 3 | Waived |
(Transactions done Online using Mashreq Business Online & SnappBiz) | |||||
International or Local Funds Transfer in Foreign Currency | AED 75 | AED 75 | AED 70 | AED 60 | AED 40 |
(Transactions done at Branch) | |||||
International or Local Funds Transfer in Foreign Currency | AED 50 | AED 45 | AED 35 | Waived | Waived |
(Transactions done Online using Mashreq Business Online & SnappBiz) | |||||
Responding / raising inquiries on behalf of customers | AED 50 | AED 50 | AED 50 | Waived | Waived |
Cancellation of remittance instructions (Funds already remitted) | AED 100 | AED 100 | AED 100 | AED 100 | AED 100 |
Cancellation of DD/PO | AED 50 | AED 50 | AED 50 | AED 50 | AED 50 |
Original instrument presented) | |||||
Copy of outward remittance transmitted | Less than 6 months AED 50 | Less than 6 months AED 50 | Less than 6 months AED 50 | Waived | Waived |
More than 6 months AED 150 | More than 6 months AED 150 | More than 6 months AED 150 | |||
TT returned due to discrepancy, per transaction | AED 50 | AED 50 | AED 50 | AED 50 | AED 50 |
Swift copy charges,per Swift copy | AED 25 | Waived | Waived | Waived | Waived |
Auto - fax of OTT/ITT advices (monthly charge) | AED 100 | AED 100 | AED 100 | Waived | Waived |
Additional charge for outward remittances OR International Telegraphic Transfers (applicable to charge code ‘OUR’ only)* | |||||
Currency of Transfer – USD (US Dollar) | AED 50 | ||||
All other Currencies (excluding the above) | - | ||||
*This charge will be in addition to bank’s remittance fees, if applicable. | |||||
Remitter has the option to bear the corresponding Bank’s charges. The Bank, at any time at it’s sole discretion and determination, can replace, change, amend or supplement any of the charges herein mentioned. |
**Effective January’2020
Minimum of AED 50 or the fees below, whichever is higher: | |
Type of Transaction | Business Banking |
Same Currency FCY Withdrawal / Deposit of Cash <= AED 1,000,000 Eqvt | 1.00% |
Same Currency FCY Withdrawal / Deposit of Cash > AED 1,000,000 Eqvt | 1.50% |
Cross Currency FCY Withdrawal / Deposit | Waived |
Item | *Value | *Value Plus | First | Premium | Platinum Speed - X |
Setup, per SO | AED 100 | AED 100 | AED 100 | AED 50 | Waived |
Amendments, per SO | AED 50 | AED 50 | AED 50 | AED 25 | Waived |
PO Transaction Fee | AED 20 | AED 20 | AED 20 | AED 10 | Waived |
DD Transaction Fee | AED 30 | AED 30 | AED 30 | AED 15 | Waived |
TT Transaction Fee | AED 60 | AED 60 | AED 60 | AED 30 | Waived |
Insufficient funds to execute | AED 60 | AED 60 | AED 60 | AED 60 | AED 60 |
Request - calling back funds remitted against standing instructions | AED 200 | AED 200 | AED 200 | AED 100 | Waived |
Copy of standing order instruction application | Less than 6 months AED 50 | Less than 6 months AED 50 | Less than 6 months AED 50 | Waived | Waived |
More than 6 months AED 150 | More than 6 months AED 150 | More than 6 months AED 150 | |||
Standing order cancellation or suspension | 20 (per instance) | 20 (per instance) | 20 (per instance) | Waived | Waived |
Item | *Value | *Value Plus | First | Premium | Platinum Speed - X |
Trade License | |||||
Valid TL not provided within 60 days after expiry | Nil | Nil | Nil | Nil | Nil |
Valid TL not provided within 61-89 days after expiry | AED 250 | AED 250 | AED 250 | AED 250 | AED 250 |
Valid TL not provided within 90-119 days after expiry | AED 400 | AED 400 | AED 400 | AED 400 | AED 400 |
Valid TL not provided every 30 days thereafter | AED 600 | AED 600 | AED 600 | AED 600 | AED 600 |
Bank Certificate/ Letter Requests, per Letter | |||||
Account Balance*
(Requests at Branch) |
AED 150 | AED 150 | AED 150 | AED 100 | AED 75 |
Account Balance*
(Online Requests) |
AED 75 | AED 75 | AED 75 | AED 50 | Waived |
Underformation Letters - Long Form | AED 675 | AED 1000 | AED 1000 | AED 675 | AED 675 |
Underformation Letters - Short Form | AED 300 | AED 1000 | AED 1000 | AED 300 | AED 300 |
Audit Confirmation Reports | AED 100 | AED 100 | AED 100 | AED 100 | AED 100 |
Certificate for A/C Closure | AED 150 | AED 150 | AED 150 | AED 150 | AED 150 |
Other reference letters/ confirmations (eg Ac conduct)*
Requests at Branch |
AED 150 | AED 150 | AED 150 | AED 100 | AED 75 |
Other reference letters/ confirmations (eg Ac conduct)*
Online Requests |
AED 75 | AED 75 | AED 75 | AED 50 | Waived |
UAE Central Bank Switch & ATM Charges | |||||
From Mashreq ATM Machines (UAE) | Waived | Waived | Waived | Waived | Waived |
Non Mashreq ATM Cash Withdrawal (UAE) | AED 2 | AED 2 | AED 2 | AED 2 | AED 2 |
Non Mashreq ATM Balance Inquires ( UAE) | AED 1 | AED 1 | AED 1 | AED 1 | AED 1 |
Reject Transactions (UAE) | AED 1 | AED 1 | AED 1 | AED 1 | AED 1 |
GCC ATM usage | AED 6 | AED 6 | AED 6 | AED 6 | Waived |
International Transactions | AED 20 | AED 20 | AED 20 | AED 20 | Waived |
Fax response to miscellaneous queries | AED 40 | AED 40 | AED 40 | AED 40 | Waived |
*Effective 1st October 2020
Item | *Value | *Value Plus | First | Premium | Platinum Speed - X |
Online Banking"Mashreq Business Online" Subscription fee (p.m.) | 35 | 35 | 35 | 35 | Waived |
Mashreq Business Online Token Initial Charge (One-time) | AED 750 | AED 750 | AED 750 | AED 750 | AED 750 |
Mashreq Business Online Token Annual Charge | AED 120 | AED 120 | AED 120 | AED 120 | AED 120 |
*Effective January’2020
Item | *Value | *Value Plus | First | Premium | Platinum Speed - X |
Lodgment of Direct Debit Authority Request | AED 200 | ||||
DDA Amendment (Lodgment) | AED 200 | ||||
Confirmation of DDA | AED 30 | ||||
DDA Amendment (Confirmation) | AED 30 | ||||
DDA Cancellation | AED 200 | ||||
Processing of 'Stop Payment' requests | AED 200 | ||||
DDR Return Due to insufficient funds | AED 100 |
WPS PAYROLL
|
Charges for submitting WPS salary file at the Branch
|
Charges for submitting WPS salary file through Mashreq Business Online |
To Mashreq Account |
AED 15/- PER RECORD |
AED 5/- PER RECORD |
MINIMUM AED 300/- PER SIF FILE |
MINIMUM AED 100/- PER SIF FILE |
|
To Other Bank account |
AED 15/- PER RECORD |
AED 5/- PER RECORD |
MINIMUM AED 300/- PER SIF FILE |
MINIMUM AED 100/- PER SIF FILE |
|
NON - WPS PAYROLL |
||
To Mashreq Account |
NONE |
|
To Other Bank account |
AED 10/- PER RECORD MINIMUM AED 50/- PER REQUEST |
ISLAMIC BUSINESS FINANCE | SELF-EMPLOYED PERSONAL FINANCE | SECURED BUSINESS FINANCE | |
Profit Rate (pa) | Mashreq Al Islami Ijarah Home Finance and Business Finance is based on the 3-month AED EIBOR plus a fixed margin agreed as per contract. 3 month EIBOR will be fixed on 1st of every calendar quarter. EIBOR is the Emirates Interbank Offered Rate, which is the rate at which banks lend to each other. EIBOR rates change daily and can be checked on the Central Bank website here. Rates as published on Central Bank’s website are available on T+2 basis, i.e. Rates published on Central Bank’s website for 1st of a month will be applied on 3rd of the same month. | ||
Processing / Issuance Charge | 1.35% of the Islamic Business Finance | 1% of the finance amount
(minimum AED 500 & maximum AED 2,500) |
1.35% of the Islamic Business Finance |
Takaful (Insurance) Charge | 0.65% of the finance amount p.a. | 1% p.a. of the finance amount | 0.65% of the finance amount p.a. |
Late Payment Fee/Cheque Return | AED 300 per installment | 2% of delayed amount
(minimum AED 50 & maximum AED 200) |
AED 300 per Installment |
Permanent Release/Clearance Letter | AED 200 | NA | AED 200 |
Liability Letter | Up to AED 500 per letter | Up to AED 100 per letter | Up to AED 500 per Letter |
Change of PDC/Recovery Account | AED 100 | NA | AED 100 |
Postponement Fee | NA | AED 100 per postponement | Nil |
Property Takaful Insurance Charge | - | - | 0.06% p.a. of the property value |
Property Valuation Fee | - | - | AED 2,500/ property |
Pre-termination Compensation | |||
Through Other Banks | 5% of the Outstanding Amount | 1% of the remaining balance or AED 10,000, whichever is lower | 1% of the Outstanding Amount |
For Repeat Finance | 1% of the Outstanding Amount | 1% of the Outstanding Amount | |
Through Own Sources | 5% of the Outstanding Amount | 1% of the Outstanding Amount | |
Trade Fee | AED 735 per transaction | AED 735 per transaction | AED 735 per transaction |
Mashreq Al Islami Ijarah Home Finance and Business Finance is based on the 3-month AED EIBOR plus a fixed margin agreed as per contract. 3 month EIBOR will be fixed on 1st of every calendar quarter. | |||
** Rates are calculated on a reducing balance basis. |
Item | *Value | *Value Plus | First | Premium | Platinum Speed X | |
DEBIT Card | Waived | Waived | Waived | Waived | Waived | |
Debit Card replacement | Waived | Waived | Waived | Waived | Waived | |
Debit Card Currency Conversion Fee** | ~ 2% | ~ 2% | ~ 2% | ~ 2% | ~ 2% | |
Cash Withdrawal | Mashreq ATM's (in UAE) | Waived | Waived | Waived | Waived | Waived |
Other banks ATM (in UAE) | AED 2 | AED 2 | AED 2 | AED 2 | AED 2 | |
Other banks ATM (in GCC) | AED 6 | AED 6 | AED 6 | AED 6 | Waived | |
Other banks ATM (Internationally) | AED 20 | AED 20 | AED 20 | AED 20 | Waived | |
Balance Inquiry transactions | Mashreq ATM's (in UAE) | Waived | Waived | Waived | Waived | Waived |
Other banks ATM (in UAE) | AED 1 | AED 1 | AED 1 | AED 1 | AED 1 | |
Other banks ATM (in GCC) | AED 3 | AED 3 | AED 3 | AED 3 | AED 3 | |
Other banks ATM (Internationally) | AED 3 | AED 3 | AED 3 | AED 3 | AED 3 | |
Declined transactions | Mashreq ATM's (in UAE) | Waived | Waived | Waived | Waived | Waived |
Other banks ATM (in UAE) | AED 1 | AED 1 | AED 1 | AED 1 | AED 1 | |
Other banks ATM (in GCC) | AED 3 | AED 3 | AED 3 | AED 3 | AED 3 | |
Other banks ATM (Internationally) | AED 3 | AED 3 | AED 3 | AED 3 | AED 3 | |
Retrieval of sales slip | AED 25 | AED 25 | AED 25 | AED 25 | AED 25 | |
PIN Mailer replacement/ re-issue fee | AED 25 * | AED 25 * | AED 25 * | AED 25 * | AED 25 * | |
*Waived for PIN generation through PIN PAD machine in branch | ||||||
** This includes fee charged on international transactions done in AED |
Item | Rates for Mashreq Al Islami |
Issuance commission on Sight LC | 1/6% pm (minimum 3 months) minimum AED 500 |
Issuance commission on Usance LC | 1/6% pm (minimum 3 months) minimum AED 500 |
Revolving LC Commission on each drawing of amount revolved | 0.250% pm (minimum 3 months) minimum AED 100 |
Amendments to LCs (other than in value or expiry date) | AED 200 |
Extension &/or enhancement in LC value | AED 200 plus Standard LC Charges |
Cancellation | AED 250 |
Acceptance commission (LC expiry to draft maturity) | 1/6% pm(minimum 3 months) minimum AED 500 |
Handling charges for discrepant documents | AED 200 |
Settlement of open account transactions (against Trust Receipt) | Flat AED 250 for Trust Receipt values = AED 2 Million, and Flat AED 500 for all Trust Receipt values > AED 2 Million |
Bills not settled within agreed time frame | Minimum 2% penal rate over and above the agreed rate |
Issuance of Shipping Guarantee (with margin) | AED 150 |
Issuance of Shipping Guarantee/ Customs Duty Guarantee (without margin) | 0.250% of invoice value, minimum AED 150 |
Item | Rates for Mashreq Al Islami |
Documentary collection handling commission | 0.125%, minimum AED 250 |
Documents delivered free of payment (where authorised by Presenter) | 0.250%, minimum AED 250 |
Avalisation of drafts | 0.125%, minimum AED 300 |
Documents transferred to local banks | 0.125% per month (minimum 3 months) minimum AED 250 |
Amendments to bills for collection | AED 100 |
Admin. fees on documents held unpaid after one month of sight or due date | AED 150 |
Documents returned unpaid | AED 150 |
Item | Rates for Mashreq Al Islami |
Pre advice of LC | AED 150 |
Advising of LC | AED 300 |
LC Confirmation | Applicable Commission as per bank/country risk consideration |
Advising LC amendments | AED 200 |
Transfer of LC | 0.250%, minimum AED 1500 |
Documents processing/negotiation commission | 0.125%, minimum AED 750 |
Commission on documents forwarded to nominated banks for negotiation | 0.125%, minimum AED 250 |
Reimbursement | AED 500 or USD 140 or EUR 100 |
Discrepancy handling charges | USD100 per set of docs. |
Assignment of proceeds under (Export) LCs | 0.125% min AED 750 |
Claiming of re-imbursement charges under Export LC | AED 150 |
Remittance of funds through third bank | AED 180 |
Processing fee on packing credit | AED 350 |
Pre-Checking of Export LC Documents | AED 500 |
DocPrep Charges | USD500 per document |
Mashreq to Mashreq LC Handling Charge | ***0.125%, minimum AED250 |
Item | Rates for Mashreq Al Islami |
ODBC documents handling charges | 0.125%, minimum AED 250 |
Amendments to bills for collection | AED 100 |
Documents returned unpaid | AED 100 |
Free of Payment release for Export Collection Documents | 0.25% min AED 150 |
Item | Rates for Mashreq Al Islami |
Processing fee | 0.125%, minimum AED 250 |
Item | Rates for Mashreq Al Islami |
Processing fee | 0.125%, minimum AED 250 |
Item | Rates for Mashreq Al Islami |
Commission on issuance of Contract Finance Guarantees like bid bonds/performance bonds/advance payment guarantees/maintenance/ retention/SBLC and other guarantees | 2.9% Per Annum (minimum 3 months) minimum AED 750 |
Commission on issuance of Auto Renewal Guarantees | 3.4% Per Annum (minimum 3 months) minimum AED 500 |
Open-ended guarantees | 3.4% Per Annum (minimum 3 months) minimum AED 500 |
Commission on guarantees passed on | AED 250 |
Amendment of LG (other than extension or enhancement) | AED 250 |
Item | Rates for Mashreq Al Islami |
Full text swift/telex charges | AED 400 |
Brief text swift/telex charges | AED 200 |
Courier Charges | AED 275 |
Other swift messages | USD 30 |
Request for photocopy of documents | Less than 6 months old AED 50
More than 6 months old AED 150 |
Item | Rates for Mashreq Al Islami |
Commission in lieu of Exchange on transactions involving Foriegn Currency | 0.250% minimum AED 150 |