What is it?
A non-interest earning account which is used by companies and business establishments mainly for managing their financial activities and business deals through the Bank.
Corporates and Establishments.
How is the product used?
As a practical mean of conducting financial transactions through the account.
- The minimum deposit to open the account is KD 100/- ,with no maximum.
- Non-interest earnings.
- The customer receives a cheque book.
- According to the customer's instructions, statements are sent daily, weekly, fortnightly, monthly, quarterly, semi annually or annually.
- Overdraft facilities are available.
- Certified cheque facilities are available.
- Stop-payment facilities on cheques are available subject to Kuwait commercial law.
- Visa or Master Card facilities are available, if the customer meets certain bank requirements.
- ATM (Starlink) card is available upon customer request with the condition that the account type is sole proprietorship.
- Accounts are categorized according to the nature of the enterprise, (e.g. W.L.L., partnership, sole proprietorship).
- Credit facilities are available, e.g. letter of credit, letter of guarantee.
- The customer has the privilege of applying for loans and access to other products.
- A commission of 2 KD will be deducted if average monthly balance drops below 100 KD
(for non individual accounts)
- Facilitates business and personal transactions in Kuwait and abroad.
- Security against lost cheque.
- The customer will be aware of the movement of the account through statements issued in English or Arabic, as per request.
- Standing instruction facilities are available.
- The account can be blocked as collateral by the customer.
- Unlimited number of deposits and withdrawals.