A banker calling for adopting the "FTS" service as an alternative to bringing in an account statement

Dealers: Banks do not recognize the electronic account statement to complete transactions

Al-Markazi provided the "FTS Banking" service about a year ago.


Dealers have confirmed that banks dealing with them do not recognize bank account statements that they obtain through the bank’s website or the smart application, or the banks send them to them via e-mail, for use in completing transactions, whether obtaining financing, a credit card, or buying a car, Or transferring debts.

They explained to "Emirates Today" that these banks require a sealed and signed account statement by the bank, which requires visiting the branch and waiting, in addition to paying fees of 25 dirhams for each month in the account statement.

In their turn, two bankers said that some banks adopt the electronic account statement in submitting transactions and taking initial approvals, while others require a sealed statement from the bank and the signature of the customer on it even for initial approvals.

They clarified that the Central Bank has provided the "FTS" service, which enables banks to directly view the customer's account statement after taking an authorization from him, and excludes a request to bring an account statement, calling on some banks to review their policies, to keep pace with market developments, and to shift towards digitalization and smart services. .

Customer complaints

In detail, the client “A.M.” said that she wanted to transfer her debt from the bank she deals with to another bank, on condition that she submit an original account statement sealed and signed by the bank, indicating that this required her to visit the branch, wait a long time, in addition to paying Fees of 25 dirhams for each month in the account statement.

The client asked about the feasibility of using electronic and smart banking services, especially in light of the repercussions of the Corona pandemic, and the precautionary measures and measures that require reducing the number of employees in banks, which calls for long waiting periods, in addition to encouraging dealers to use smart channels in transactions.

For his part, the trader "S.A." said that he applied for financing a car, but the financing bank asked him for a sealed account statement.

He added: “I requested the statement from the bank that I deal with, by calling the customer service center, and received it via e-mail, then submitted it to the financing bank, but I was surprised by the rejection of the transaction, because the account statement was electronic and not sealed, which required visiting the bank branch, and paying 80 dirhams, Fees for a sealed account statement for a period of three months.

In the same context, the customer (A.A.) presented his experience, saying that he waited about half an hour in the bank for the bank account statement to be sealed and signed by the branch manager, pointing out that there was a fee of 25 dirhams for each month in the statement.


In turn, the banker, Muhannad Awni, said that the Central Bank provided a new service about a year ago, "FTS Banking", which enables banks to directly access the customer's account and view its details, after taking his approval and signing it first, and filling out a form that includes authorization The bank do this.

He added that this service saves banks from requesting an account statement, and saves the customer the effort to visit the branch, especially in light of the current circumstances related to the pandemic, in addition to not charging fees.

He added, "This option is available to all banks, but unfortunately only some of them use it," pointing out that there are banks that are satisfied with electronic disclosure, as long as it includes a "user name" and a "password", to make it easier for dealers.

Awni said that some banks have flexibility in this matter, while others need to review their policies, to keep pace with market developments, and to shift towards digitalization and smart services in a large way. He asked: “How do we require the customer to use smart services, and the bank itself does not adopt it in its transactions?”


The banker, Mustafa Ahmed, said that some banks require the customer to sign the original account statement, along with the rest of the documents required to complete the transactions, such as ID and passport.

He added that the electronic account statement sometimes does not show the name of the customer, but only the “IBAN” number. Therefore, the bank’s management requests the necessity of bringing an original sealed statement, and it has to be signed by the customer who requested it.

Muhannad Awni:

"(FTS Banking) enables banks to access the customer's account, but only some of them use it."

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