QNB Slashes Annual Credit Card Fees by up to 50%

Posted on : Thu, 06 Aug 2009

Doha, 06 August 2009 - Qatar National Bank (QNB) announced that its Platinum, Gold and Silver credit card holders now benefit from up to 50% off on their annual fees, and the fees applicable for supplementary or replacement cards. This is part of the Bank's continuing efforts to offer enhanced banking services to its customers and provide them with the best possible solutions.

The reduction of annual fees is between 17% and 50% for QNB Platinum, Gold and Silver credit cards. These new fees apply to QNB's Mastercard, Visa and co-branded QNB-Qatar Airways credit card holders. The new fees also include the charges for the reissue or replacement of cards as well as the fees for supplementary cards for family members.

Further to assist its customers, QNB has also reduced the cash advance fee for all cash withdrawals using QNB credit cards. These charges have been reduced from 4.5% of the total amount withdrawn to just 4% per transaction.

Effective July 2009, QNB has been offering reduced tariffs and charges on many retail banking products and services. These include up to 50% lower charges for safety deposit box rentals, cheque books uncollected for up to one month and the replacement of personalized debit cards.

The Bank also cancelled the tariffs previously levied on minimum balance maintenance for QNB Current, Savings, Savings Plus & Call Accounts, while continuing to provide customers the same benefits of maintaining these accounts as they have always enjoyed.

The bank also announced the reduction of Foreign Money Transfer fees carried out via EAZYLife, the Bank's suite of eBanking channels, by 60%.

This initiative is part of a series of services within the banks strategy to gain customers who are the center of the banking development wheel, in addition to updating services and keeping up with banking services developments to suit the needs of the banking sector growth.

In addition, QNB's many free services continue to be offered to all customers without any changes. These include utility payments through direct debit, standing orders, inward money transfers, issuance of standard cheque books, QNB debit cards, withdrawals from a QNB ATM, as well as many telephone and website requests, QNB SMS alerts and account activity updates.