I wrote – Manal Al-Masry:
The Bank of Egypt and Al Ahly performed an increase over the expenses of opening the regular savings account during the past year, whether in the account opening expenses or the periodic statement of the account, after adding administrative expenses to manage the account.
Expenses for opening an account vary from one bank to another, and banks impose expenses on opening the account, as well as the expense of periodic account statements every 3 months or a month, depending on the customer’s desire.
Banks also decide fees on the bear card used in the process of debiting or depositing from an ATM.
Banks offer a minimum amount to open a savings account, and interest is also graded according to the account value.
In the following lines, Masrawy displays the expenses and fees of the account statement and the periodicity of disclosure in 10 banks including the National Bank of Egypt, Cairo, Arab African International, HSBC, Alexandria and Abu Dhabi First.
1- National Bank of Egypt:
Account opening fees: pay 50 pounds plus 4 pounds stamps.
Debt Card issuance fees: 50 pounds for the issuance of the card.
Account statement period: 50 pounds divided into 30 pounds and 20 pounds administrative expenses, and this was imposed last year, in addition to 50 pounds renewing the card annually, bringing the total costs to 250 pounds annually.
The minimum amount for opening an account: A minimum of one thousand pounds.
2- Banque Misr:
Account opening fees: 55 pounds, including stamp duty.
Debt card issuance fees: 30 pounds, the card issue is renewed annually at the same value.
Account statement periodicity: It reaches 55 pounds every 3 months divided between 35 pounds of periodic statement of account, and 20 pounds administrative expenses, in addition to 30 pounds renewing a card to reach a total cost of 250 pounds annually.
Minimum amount to open the account: 1500 EGP.
3- Banque du Caire:
Account opening fees: 40 pounds, including stamp.
Debt Card issuance fees: 30 pounds, and it is renewed at the same value annually.
Account statement periodicity: 50 pounds every 3 months, plus 30 pounds. Identification of the card, for a total of 230 pounds per year.
Minimum account opening limit: A minimum JV.
4- Commercial International Bank:
Account opening fees: 50 Egyptian pounds plus stamps.
Debt Card issuance fees: 50 Egyptian pounds, and it is renewed annually at the same value.
Account statement periodicity: It reaches 100 pounds annually.
Minimum amount to open the account: 20 thousand pounds.
5- HSBC:
Account opening fees: 30 pounds.
Debt Card Issuance fees: It is 40 pounds for the regular card, and it is renewed at the same value annually.
Account statement periodicity: 30 pounds every 3 months, bringing the total expenses to 120 pounds per year.
Minimum account opening limit: 10,000 EGP.
6- Arab African International Bank:
Account opening fees: 30 pounds.
Debt Card issuance fees: 30 pounds and is renewed at the same value annually.
Account statement periodicity: 15 pounds every 3 months in addition to 8 pounds per month administrative expenses, and 3 pounds the cost of messages about movement on the account per month, for a total of 192 pounds per year.
The minimum amount for opening an account is 5,000 EGP.
7- Bank of Alexandria:
Account opening fees: estimated at 30 pounds.
Debt Card issuance fees: estimated at 50 pounds and renewed at the same value annually.
Account statement period: 25 pounds every 3 months, for a total of 100 pounds annually.
The minimum amount for opening an account is one thousand pounds.
8- Emirates NBD:
Account opening fees: 50 pounds.
Debt card issuance fees: 30 pounds, the regular card, and it is renewed 50 pounds at the end of the card period.
Account statement periodicity: ranges from 5 pounds, or 30 pounds, according to monthly or quarterly.
The minimum amount for opening an account is one thousand pounds.
9-National Bank of Abu Dhabi:
Account opening fees: 50 pounds.
Debt Card issuance fees: It is estimated to be 50 pounds, and it is renewed at the same value annually.
Account statement period: 25 pounds per month.
The minimum amount for opening an account is 10 thousand EGP.
10 – Credit Agricole Bank:
Account opening fees: 100 pounds paid for the first time.
Debt Card issuance fees: 100 pounds and annual renewal fees 60 pounds.
The periodicity of the account statement; it is crowned for free on the bank’s website, using the customer’s identification number or for 15 pounds per month, according to the customer’s desire.
The minimum amount for opening an account is 3 thousand EGP.
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