The central bank system set it at 200 dirhams
Customers: the fee for “overdraft” in some banks is up to 525 dirhams
Banks allow 90% of the salary to be withdrawn, with a maximum of 30 thousand dirhams.
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Amjad Nasr: “There are banks that calculate the fee as a percentage of the withdrawn amount, and others that impose it on a fixed basis with the approval of the customer.”
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Customers reported that their banks provide overdraft services, specifically the salary provided in advance, with a monthly fee of 525 dirhams, while the Central Bank system for personal loans to individuals in force since 2011 sets this fee at only 200 dirhams.
They explained to "Emirates Today" that the value of the fee is high, even if obtaining the salary provided in advance is through an automated teller machine, and does not take procedures or time, calling for the need for banks not to exploit the customers' need at times for liquidity, which forces them to take their salaries from the bank. advance or withdraw part thereof.
They added that these banks allow the withdrawal of 90% of the salary, with a maximum of 30 thousand dirhams, but in return, they immediately deduct the fee estimated at more than 500 dirhams.
They stated that the bank deducts the entire amount withdrawn in advance, as soon as the salary is received, within a maximum period of one month, and any delay necessitates depriving the service, or taking measures against the non-compliant customer.
On the other hand, the banking expert, Amjad Nasr, said that “the fees for banking services provided to individuals have been set by the Central Bank, and have been in place for years, and the overdraft fee usually does not exceed 200 dirhams according to (the system), but some banks, especially (Islamic banks), do not A profit or interest rate is imposed on the salary provided in advance, and the administrative fee is sufficient.
He added, "There are banks that calculate the fee as a percentage of the withdrawn amount, and others impose it on a fixed basis, as long as the customer agrees to it, but in all cases the value of the fee should not exceed what the personal loan system has set."
Nasr indicated, "If the bank treats the salary provided in advance, for example, as a service different from overdraft, then administrative fees are imposed according to the bank's vision regarding its expenses or expenses."
And he indicated that “there are banks that ask the customer to apply through the branch, during a specific time, and wait for approval, and these usually adhere to the terms and conditions of the central bank system, but banks that provide the service quickly through ATMs, impose higher administrative fees, commensurate with With the speed of providing the service, and not waiting for a long time until the approval is issued.”
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