Commercial Bank: CLosing account
I wants to close saving account from Commercial bank. They said it costs QR500 to close. Also charge QR100 for clearing certificate. Now thinking, they virtually robbing me broad daylight. Any ideas how to get away those charges? What is your experience? i surely dont suggest anyone to open any account with them.
I have checked and found that the only charges on closing an account is for an account called TUMUH (designed to save money through monthly deductions) and this is not applicable in some cases like leaving the country for good. check below:
What if I have to liquidate my account before the end of the term? In the event that you must close your TUMUH account before the end of your agreed term, a one-time administration fee of QR 500 will be deducted from the account. In some instances though, this fee may be waived. Please read on.
What if I have to leave the country permanently before the end of my TUMUH term and need to close the account?
We have taken into consideration the factors beyond your control in the creation of TUMUH. In the unfortunate circumstance that there is a loss of employment, accidental death, natural death, permanent disability or a need to leave the country permanently, the account can be immediately closed and paid without deduction of the above penalty.
http://www.cbq.com.qa/SearchResult.aspx?id=102#top
I know that there is no charge for closing saving accounts in commercial bank. Clearance certificate charge is QR100 that's true.
A month back I have closed my CBQ SB, but they have not charged any penalty, instead, they offered me to withrdraw full amount including dirhams. Of course for clearance certificate they told there is a fee of QR. 100/-.
May be he is leaving the country for good...
That is when the "certificate" is needed I guess along with clearance from Qtel &
Kharamaa etc
Good Advice Smoke...
wtf?? 500 bucks to close? lol just go to any atm and start withdrawing all ur money and leave them to deduct 10 bucks for no balance or whatever their fees are :)
_[]~SMoKE~[]_