Expired
ID Update
|
Inactive / Dormant Account
Status
|
Unclaimed Account Status
|
| Q. What
is an expired ID? |
Q. What is a Dormant Account? |
Q. What is an Unclaimed Account? |
| A.
Identification document is the customer’s passport and for citizens/residents
in the UAE it’s the Emirates ID card as well. For companies, this refers to
the identification document which is trade / commercial license. If the
submitted identification document has passed its expiry date, then it’s
called an expired ID. |
A. A bank account which does not
have any transactions for a continuous period of 12 months is classified as a
Dormant Account. |
A. A bank account which does not
have any transactions for a continuous period of 60 months is classified as
an Unclaimed Account. |
| Q. Why
does the Bank require valid / renewed ID? |
Q. What is the impact on an
account which becomes Dormant? |
Q. What is the impact on an
account which goes Unclaimed? |
| A. As
part of the Bank’s regulatory requirements, it is mandatory for the customer
to submit a valid passport and citizens/residents in the UAE, a valid
Emirates ID card as well. If previously submitted documents have expired, the
customers are required to immediately provide updated identification
documents to the Bank. |
A. A dormant bank account can
continue to receive credits into the account. However any debits to the
account are restricted. Also there may be a general delay in provision of
banking services. |
A. In order to safeguard against
any unauthorized activity, an unclaimed bank account will not receive any
incoming remittance credits. All customers initiated debit activity whether
at the Teller counter or via alternate channels like ATM, Online or Phone
banking is also restricted. Also there may be a general delay in provision of
banking services. |
| Q. What
is the impact on an account with expired ID? |
Q. Which debit transactions are
restricted on a Dormant Account? |
Q. Will the account statement be
sent if the account is on Unclaimed status? |
| A.
Cheque clearance activity is restricted if the ID has expired. Accounts of
companies will be closed by the Bank if the updated trade/commercial license
is not provided. Also there may be a general delay in the provision of
banking services hence updated ID is required for uninterrupted banking
services. |
A. In order to safeguard against
any unauthorized activity, all customer initiated debit activity at Teller
counter e.g. cheque clearance and Teller counter transactions are restricted.
Customer initiated activity via alternate channels like ATM withdrawal, Fund
transfer via online or phone banking, can also be restricted. |
A. No. In order to safeguard
against any unauthorized activity, accounts on unclaimed status do not
receive statement |
| Q. Are
there any additional requirements? |
Q. Will the account statement be
sent if the account is on Dormant status? |
Q. How do I activate my account? |
| A.
Yes. Customers are also required to update/provide their FATCA and CRS
related declaration forms. FATCA is an information standard for automatic
exchange of tax and financial information with USA. CRS is an information
standard for the automatic exchange of tax and financial information between
the Organization for Economic Co-operation and Development (OECD) member
countries. |
A. No. In order to safeguard
against any unauthorized activity, accounts on dormant status do not receive
statement. |
A. Customers can request for
account activation using the Service Request Form. This completed form can be
submitted by visiting the customer service section at the branch. The
customers are advised to have on them their original Identification document for
identification purposes. |
| Q. How
do I update my valid / renewed ID? |
Q. How do I activate my account? |
Q. Are there any additional
requirements? |
| A.
Customers can request for ID update using the Service Request Form. This
completed form can be submitted by visiting the customer service section at
the branch. The customers are advised to have on them their original
Identification cards for identification purposes. Alternatively, customers can scan the
completed form and ID and email it to kycuae@alahli.com. |
A. Customers can request for
account activation using the Service Request Form. This completed form can be
submitted by visiting the customer service section at the branch. The
customers are advised to have on them their original Identification document for
identification purposes. Alternatively. if the customer has signed a Fax
Indemnity, the Service Request Form can be faxed on +97147091122. |
A. Yes. Customers are also
required to update/provide their FATCA and CRS related declaration forms.
FATCA is an information standard for automatic exchange of tax and financial
information with USA. CRS is an information standard for the automatic exchange
of tax and financial information between the Organization for Economic
Co-operation and Development (OECD) member countries. |
| |
Q. Are there any additional
requirements? |
Q. Can I close my account if I
don’t intend to use it? |
| |
A. Yes. Customers are also
required to update/provide their FATCA and CRS related declaration forms.
FATCA is an information standard for automatic exchange of tax and financial
information with USA. CRS is an information standard for the automatic exchange
of tax and financial information between the Organization for Economic
Co-operation and Development (OECD) member countries. |
A. Yes. Customers can request
for account closure using the Service Request Form. This completed form can
be submitted by visiting the customer service section at the branch. The
customers are advised to have on them their original Identification cards for
identification purposes. |
| |
Q. Can I close my account if I
don’t intend to use it? |
Q. Are there any
responsibilities on the customer’s part? |
| |
A. Yes: Customers can request
for account closure using the Service Request Form
This completed form can be submitted by visiting the customer service section at the branch. The customers are advised to have on them their original Identification cards for identification purposes. Alternatively, if the customer has signed a Fax Indemnity, the Service Request Form can be faxed on +97147091122.
|
A. Yes: If the customer changes
his/her address or the contact number, he/she should inform the bank’s branch
where he/she maintains the account. The customer should keep all the
correspondence related to the account held with the bank in a secure place for
future reference and the customer should check the statements sent to him/her
and acknowledge receipt where required by the bank to do so (even if the
entries are in order) to confirm to the bank that the address on record is in
order.
Terms and Conditions Apply |
| |
Q. Are there any
responsibilities on the customer’s part?
|
|
| |
A. Yes. If the customer changes
his/her address or the contact number, he/she should inform the bank’s branch
where he/she maintains the account. The customer should keep all the
correspondence related to the account held with the bank in a secure place for
future reference and the customer should check the statements sent to him/her
and acknowledge receipt where required by the bank to do so (even if the
entries are in order) to confirm to the bank that the address on record is in
order.
Terms and Conditions Apply |
|
