Schedule of Charges

Stay up to date with the revised charges on your Mashreq Neo Account

Charges on your Mashreq Neo Account will be updated as below effective 20 Aug 2023. Please refer to https://mashreq.com/soc for the latest
schedule of charges.

Current Account:
Fall-below-fee or Monthly fee will be updated for below listed Current Accounts as below, effective 20 Aug 2023

Current Account Current fee (until 19 Aug 2023) Effective 20 Aug 2023

Neo Smart account AED 26.25 AED 21

(Account opened on or before Aug
18, 2020) Waived off during the 12 months of Waived off if customer transfers salary of at
account opening least AED 5,000 to this account or account
has minimum balance of AED 3,000

Neo Smart account AED 10.50 AED 21

(Account opened after Aug 18, 2020)
Waived off if customer spends on debit Waived off if customer transfers salary of at
card above AED 1,000 or account has least AED 5,000 to this account or account
minimum balance of AED 3,000 has minimum balance of AED 3,000

Neo Salary Account AED 10.50 AED 21

Waived off if customer transfers salary to Waived off if customer transfers salary of at
this account least AED 5,000 to this account or account
has minimum balance of AED 3,000

Neo Basic Account AED 0 AED 0

Neo NXT Account AED 0 AED 0

Neo Lite Account AED 10.50 AED 21

Waived off if customer spends on debit Waived off if customer transfers salary of at
card above AED 1,000 least AED 5,000 to this account or account
has minimum balance of AED 3,000

The above charges are inclusive of VAT

Savings Account:
Fall-below-fee or Monthly fee will be updated for below listed Savings Account as below, effective 20 Aug 2023

Savings Account Current fee (until 19 Aug 2023) Effective 20 Aug 2023

Neo Savings Account AED 26.25 AED 21

No waiver Waived off if customer transfers salary of at

least AED 5,000 to this account or account
has minimum balance of AED 3,000

The above charges are inclusive of VAT

Below Branch transaction charges are applicable effective 20 Aug 2023:

Branch transaction charges (Transactions other than ATM & Online) AED 10.50

Account Balance Letter / Balance Confirmation Letter – Branch AED 52.50

The above charges are inclusive of VAT

Mashreq Neo is part of Mashreqbank PSC which is regulated by the Central Bank of the United Arab Emirates.
Cheque charges:
Below Cheque charges are applicable effective 20 Aug 2023:

Special Clearing AED 215.25

Foreign Currency Cheque collectiona AED 52.50*

PDC custodial service AED 5.25 per cheque

a
Plus Clearing/ Drawee bank charges and courier charges, if any.
The above charges are inclusive of VAT

Standing Instruction charges:

Below Standing Instruction charges are applicable effective 20 Aug 2023:

Set-up Charges AED 52.50

Amendment Charges No charge

SI not effected due to insufficient funds AED 26.25

The above charges are inclusive of VAT

Remittance charges:
Below remittance charges are applicable effective 20 Aug 2023:

Drafts / PO

Issuance - Branch AED 36.75

Issuance - Electronicb AED 21

Cancellation No charge

Outward Wire Transfer - Branch

International AED 78.75c

Domestic AED 5.25c

b
Transactions originating from Mashreq Mobile and Mashreq Online
c
Plus beneficiary bank and intermediary bank charges
The above charges are inclusive of VAT

Processing Fees for Foreign currency sale and purchase to customers:

“Processing Fees for Foreign currency sale and purchase to customers” applicable effective 20 Aug 2023:

Type of Transaction

Same Currency FCY Withdrawal / Deposit of Cash <= AED 1,000,000 Equivalentd 1.00%

Same Currency FCY Withdrawal / Deposit of Cash > AED 1,000,000 Equivalentd 1.50%

Cross Currency FCY Withdrawal / Depositd Waived

d
Minimum of AED 50 or the fees below, whichever is higher

Mashreq Neo is part of Mashreqbank PSC which is regulated by the Central Bank of the United Arab Emirates.
Bill payment charges:
Below Bill payment charge will be updated as below, effective 20 Aug 2023

Neo Account Current fee (until 19 Aug 2023) Effective 20 Aug 2023

Non-Mashreq credit card payments AED 10.50 Free

The above charges are inclusive of VAT

UAEDDS Paying Bank Charges:

Below ‘UAEDDS Paying Bank Charges’ are applicable effective 20 Aug 2023:

DDS Return Due to insufficient funds 26.25

DDS Return Due to insufficient funds

No Charge
(repeat DDS with the same reference number)
The above charges are inclusive of VAT

IPO Financing:
Below ‘IPO Financing’ fees are applicable effective 20 Aug 2023:

Subscription / Interest Rates The charges applicable are subject to market conditions and may change without prior notice

Leverage Multiples Mashreq offers up to five multiples for IPO Financing

Mashreq Prime Rate (MPR):

Below ‘Mashreq Prime Rate (MPR)’ is applicable effective 20 Aug 2023:

Mashreq Prime Rate (MPR)

AED MPR 7.00%

The Mashreq Prime Rate is a reference rate for Retail lending products.

Mashreq Neo is part of Mashreqbank PSC which is regulated by the Central Bank of the United Arab Emirates.