We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Sun 12 Jul 2009 07:33 AM

Font Size

- Aa +

Qatar banks criticised for over charging

Customers complain about banks' decision to raise ATM costs and charge for statements.

Qatar banks criticised for over charging
MORE CHARGES: Many Qatar banks have almost doubled the cost to withdraw money at ATM machines. (Getty Images)

A recent hike in charges at many of Qatar’s high-street banks has led to a raft of complaints from customers, it has been reported.

According to a report in the Peninsula, some banks have almost doubled the cost to withdraw money from ATM machines, while others have begun charging up to QR50 a month for statements that were previously free of charge.

Bank customers told the paper they were also being charged between QR25-50 for allowing their balance to dip under the minimum required monthly limit, which in some instances was as high as QR5,000

“My entire salary is QR7,000, so how can you expect me to have a QR5,000 balance in my account,” said one customer, who asked not to be named. He told the paper he was charged QR50 every month by his bank for insufficient funds.

The cost for getting a loan clearance certificate can be as much as QR1,000, the paper said. While, some banks have begun charging for replacement ATM cards which they used to issue free.

Arabian Business: why we're going behind a paywall

For all the latest market news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Naz 11 years ago

Today I got my credit card statement and on the statement it shows that they have charged me for the remaining balance that is left on my credit card (QAR 186.45).

Khalid 11 years ago

What everyone is failing to see here, is that when a licence is issued to establish a bank or an insurance company or any other business be it private or public, it is I licence to provide a service for the public; the bank was given permission to open its door because of a need in the community, which without it, there will be no need for the bank. It seems that the consumers’ affairs, or consumers’ protection department, neglected this, and elected to let banks and other companies to hike their charges, so the share holders can be made happy and to hell with the public. The BIG question here is; do we have an all over functioning consumers’ affairs, or consumers’ protection department, or it is only looking at the price of fish and onion in the SOUQ.