Banks to charge more for services [Bad news]

Source ::: THE PENINSULA
DOHA: Banking services here have become costlier by up to 50 percent as banks, both Qatari and non-Qatari, have increased their charges.

Some banks have begun charging up to QR1,000 for issuing loan clearance certificates, especially if they are meant for other banks. The charges vary between QR100 and QR500 if the certificates are required by a company. Some banks will charge the customer even for the monthly statements they mail on their own.

One needs to pay up to QR50 for a normal bank statement, but statements for a year can cost up to QR600 at some banks.

Bounced cheques attract a fee of QR300, whereas canceling a cheque or making changes on it can also cost between QR20 and QR50. Similarly, for cheque books some banks have started charging up to QR50 apiece.

Locker fees have also been raised and vary, depending on size, between QR200 and QR1,000 annually. Several banks, which earlier issued ATM cards free, have now begun charging from QR50 to QR100. Online services of some banks now also come for a fee.

And to open an account one has to pay an extra QR50 or QR100 aside from depositing the minimum required balance. Credit cards haven’t been spared either.