They demanded the “Central” to review the lists of bank fees in light of the repercussions of “Corona”

Dealers demand the abolition of the minimum balance fee

Customers who prefer receiving their salaries in cash, rather than deducting the minimum balance fee.

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Bank dealers demanded the cancellation of the minimum balance fee, which is imposed at a value of 26.5 dirhams per month, including value-added tax, on bank accounts in the event that the balance available in them is less than 3000 dirhams, calling on the Central Bank to review the lists of bank fees, especially after the negative repercussions imposed by the Corona pandemic. " Everyone have to.

Dealers explained to "Emirates Today" that they do not take from banks financing or loans, given that their salaries do not exceed 3000 dirhams, and their salaries cannot be kept in order to avoid the deduction of the fee, while others said that they need their full salaries even if they exceed 3000 dirhams, pointing to This fee constitutes an annual amount of 318 dirhams, which is relatively large compared to the services provided.

Monthly discount

In detail, the statements of bank dealers, told "Emirates Today", that there is a monthly deduction from their bank accounts of 26.5 dirhams as a fee if the balance is less than 3000 dirhams, without having any bank commitments or monthly installments, given that their salaries do not exceed 3000 dirhams.

They stated that they would prefer receiving their salaries in cash than deducting this amount, which seems simple to some, but is important to them, as there are no services they receive from the bank.

One of the dealers asked: “Why do I withdraw my monthly salary that is less than what is due, even by one dirham, as long as I do not benefit from any banking services?”

Fee review

The dealers stated that this fee can be imposed on those with large salaries, as they can avoid it by leaving an amount of 3000 dirhams in the account, or paying it without being influential, calling on the Central Bank to review bank fees and relieve low salaries who did not choose to open bank accounts, but were imposed. They have to be paid by their employers for the ease of delivering salaries, in addition to the fact that the “Corona” pandemic has had negative repercussions on everyone, especially those with low incomes.

Fees and commissions

For his part, the banking expert, Mustafa Ahmed, said that “the banks did not impose any fees on the bank accounts of individuals on their own, explaining that the Central Bank issued the system of personal loans to individuals in 2011, including a schedule of all imposed fees and commissions, but some banks offer an exemption. From one drawing or another to attract dealers, or urge them to transfer their salaries to it from other banks.”

Exemption

Ahmed indicated that “exempting the customer from the minimum balance fee is linked to the transfer of his salary in most banks, but when he transfers to another bank, the fee is imposed again, so it is preferable for the customer to close his account permanently as long as he moves to another bank.”

Services

Ahmed added that "customers receive services in exchange for this fee, related to the security provided by the bank, the direct debit card, sending monthly account statements, and other matters related to the account, which are an operational cost for the banks."

He continued, "The issue of reviewing the fee schedule is a matter for the Central Bank, and the banks are the implementing agency in the event of new decisions being issued."

26.5 dirhams as a monthly fee for bank accounts in which the balance is less than 3000 dirhams.

Mustafa Ahmed: “Some banks offer an exemption from one fee or another to attract dealers, or to urge them to transfer their salaries to them from other banks.”

• Customers confirmed that they do not take bank financing, given that their salaries do not exceed 3000 dirhams.

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