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The minimum initial deposit at the time of account opening is to be Rs. 1000/-. |
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Basic Banking Account will be a current account. |
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There is no minimum balance penalty on UBL BBA accounts, however all accounts having nil balance for a continuous six month period shall be closed. |
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All Business Partner waivers allowed if minimum balance requirement condition as per SOC is met by the account holder. |
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Maximum of two deposit and two withdrawals (cash or clearing) per month are allowed free of charge. However, any transaction (cash or clearing) after those mentioned above will be charged a flat fee of Rs. 50/-, in addition to the regular charges of services as per SOC. This charge will be system generated end of day, once the customer exhausts his free transaction limits. |
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BBA customers will be allowed unlimited free ATM withdrawals from UBL’s own ATMs. However, withdrawals from other banks’ ATMs will be charged as per the existing SOC (currently Rs. 15/- per transaction). Annual fees including issuance and renewal of ATM card will be charged as per existing SOC. |
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All other banking services provided will be charged as per the prevailing SOC. |
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The statement of account will be issued once a year for UBL BBA customers in June. Issuance of duplicate statement will entail a charge of Rs. 50/- as per SOC. |
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Like the regular Current accounts, UBL BBA will also be Zakat Exempt accounts. |
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Any existing customer wanting to convert his/her checking account into Basic Banking Account can do so by giving a written application to the Branch Manager upon which existing account will be closed and a new UBL BBA account will be opened and a new account number will be provided to the customer after due account opening procedures, including submission of CNIC, if not provided earlier. The deposit in the previous account will be transferred to the newly opened UBL BBA. Charges for closing any existing account shall be recovered as per SOCs. |
