BANK’S NOTICE Relationship Based Pricing

Relationship Based Pricing

We are introducing Relationship Based Pricing for our customers as of the 1st of February 2019. This is applicable to all Aspire and Simplylife customers who open a ADCB retail banking account. This is per our retail schedule of fees. We will charge Privilege Club customers a monthly fee. This will only apply if they fail to maintain the necessary criteria.

What is Relationship Based Pricing?

Under the existing pricing structure, each current/savings/call account is charged or priced individually. Effective February 1st 2019, the fee will be based on the value of your entire relationship with ADCB. The monthly relationship fees for existing/new customers will be applicable as per the segment specific criteria below

Eligibility

For Aspire and Simplylife customers

There are three pricing tiers under Aspire/Simplylife. These tiers are classified based on your Total Relationship Balance*. They are also based on the corresponding monthly relationship fee as below:

Tier Monthly Fee Aspire/Simplylife Category Description
1 No Fee Total Relationship Balance of AED 20,000 or more
OR
Salary Transfer of AED 15,000 or more
OR
Salary Transfer of AED 5,000-14,999 with Credit Card/Overdraft/Loan
2 AED 25 Salary Transfer of below AED 15,000 without
Credit Card/Overdraft/Loan OR
Salary Transfer of less than AED 5,000
3 AED 100 All other Aspire Customers who have an account and do not fall under Tier 1 or Tier 2

*Total relationship balance. This includes fixed deposits/market value of investment holdings. This also includes current/savings/call (CASA) monthly average balance.

For Privilege Club customers

A monthly fee shall apply for Privilege Club Customers. This will apply so long as they do not maintain the Privilege Club suitability criteria. See corresponding fee below:

Monthly Fee for not maintaining criteria Criteria
AED 150 Total Relationship Balance* of AED 200,000 or more
OR
Salary Transfer of AED 20,000 or more
OR
Mortgage Loan of AED 1 Million or more

*Total relationship balance is the combined total average balance of Current Account, Savings Account, Call Account, Fixed Deposits and Investments held onshore.

FAQ

Who is excluded from Relationship Based Pricing?

1. Minor customers who are less than 21 years of age.
2. New customers with a relationship length of fewer than three months.
3. Aspire/Simplylife customers with any Loan product (Personal Loan/Home Loan/Car Loan).
4. Relationship fee will not be charged for the below accounts for Aspire/Simplylife Customers:

  • University Student Account
  • Simplylife Little Master’s Account
  • Child Saver Account

Please visit www.adcb.com/fees to learn more about the revised Schedule of Fees and Charges.

Will the monthly relationship fee apply for minor accounts?

The Monthly Relationship Fee shall not apply to minor accounts. Minors are customers with ages less than 21 years based on the date of birth recorded in the system. However, other Fees in line with the product pricing shall continue to apply wherever applicable.