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03 October 2023

Emirates NBD moves to raise fee income

Emirates NBD moves to raise fee income. (EB FILE)

By VM Sathish

Emirates NBD will impose fines on customers who delay salary transfer to the bank. It has informed all customers that those who do not get their salary credited will be fined Dh75 a month.

Jamal bin Ghalatia, Group Deputy CEO, said the bank has grouped its customers into three categories, namely Classic, Plus and Select.

Non-receipt of salary for three months will invite a quarterly fine of Dh105 for Classic Account holders. And for Plus and Select categories of account holders, the quarterly fine will be Dh225 per quarter.

According to a bank official, even if a customer gets his salary in cash and deposits it in the account, he will be fined becauses the procedure is not considered as a "salary transfer".

Classic account holders can maintain a zero balance and a minimum salary transfer of less than Dh2,500. Plus customers have to maintain a minimum balance of Dh5,000 and minimum monthly transfer of Dh2,500. In the case of Select customers, the minimum balance is Dh50,000 and minimum monthly salary transfer is Dh8,000. For Classic account holders, there is no fees for not maintaining the minimum balance.

The bank has revised other rates, too. For bulk cash transactions at bank counters of up to Dh1 million, a fee of 0.1 per cent of total transaction or a maximum fee of Dh5,000 will be charged.


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