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FREQUENTLY ASKED QUESTIONS


ACCOUNT

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General

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1. What is an IBAN?
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IBAN stands for International Bank Account Number, which you can use when sending or receiving international payments.
2. Where can I find my ABK IBAN number?
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You can get your ABK IBAN number by going to Inquiries, after logging in to your Online Banking account, then selecting the account you want to get the IBAN for and your IBAN number will be displayed in the financial screen.

Alternatively, you can visit ABK’s website at https://abk.eahli.com and navigate to IBAN Validator by clicking on the footer link, or simply click here and then use the ABK IBAN Generator.

Please note that the ABK IBAN Generator is only for ABK accounts.
3. What is the minimum age to open an account?
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The minimum age to open an account is 21 years.

Please note that the minimum required age to open a student account is 18 years.
4. If I change my signature will my account be stopped or disabled?
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Changing the signature will not stop or disable any of your accounts or ATM cards.
5. Are there any fees when withdrawing from a non-ABK machine in Kuwait?
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The fee for every transaction done with a Debit Card is 100 Fils.

The fees for every transaction done with a Credit card are:
  • 5% from every transaction if withdrawn from an ABK ATM machine or from a non-ABK ATM machine
6. Are there any withdrawal fees when using an ABK ATM card outside of Kuwait?
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Yes, there is:
  • 1% and a minimum of KD 1 in GCC countries.
  • 2 % and a minimum of KD 1 KD in countries other than the GCC (Europe, USA, etc.)
Please note that Fees and Commissions may get updated; please visit Fees and Commissions on the following link.

You can also navigate to the Fees and Commissions list at any time which is located under ABOUT ABK --> FEES & COMMISSIONS or by visiting the nearest ABK branch.
7. Can a company account withdraw from an ATM Machine?
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ATM company account cards are issued exclusively for inquiry purposes. Deposit and withdrawal transactions must be initiated from any of the ABK branches.
8. Where can I get an Account Statement?
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You can get your Account Statement through:
  • Visiting the nearest ABK branch
  • Contacting the ABK Call Centre at Ahlan Ahli 1 899 899 or +965 2 2442 211 for International calls.
  • Through Online or Mobile Banking (Digital statements are for dating back to the day the account was opened).
  • Viewing account statements via our ABK ATM Machines.
9. Where can I find the Fees and Commissions lists?
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You can find an updated list of Fees and Commissions on the following link.

You can also navigate to the Fees and Commissions list at any time which is located under ABOUT ABK --> FEES & COMMISSIONS or by visiting the nearest ABK branch.
10. What are the currencies that I can open an account with?
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You can open a Savings or a Current account in the Kuwaiti Dinar, US Dollar, Pound Sterling , or the Euro

Please note that Salary accounts can only be opened in the Kuwaiti Dinar.
11. What is a Dormant account?
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Dormant accounts are accounts that have not been used, or have no transactions recorded (DEBIT / CREDIT) for a full year.

Please note that dormant accounts incur a onetime Dormancy Charge of KD 5 when the account first becomes Dormant and a monthly Dormancy Charge of KD 2 for every month it remains under the Dormant status.
12. How can I activate my account once it has been flagged as Dormant?
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You can activate your Account by visiting the nearest ABK Branch and sign the Account Activation form which will include an Account Activation charge of KD 5.
13. What is the FATCA?
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FATCA is the U.S. Foreign Account Tax Compliance Act that was enacted by the U.S. Government and that came into effect on July 1, 2014.
14. How does FATCA work?
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FATCA internationally requires all non-U.S. financial institutions (defined as Foreign Financial Institutions or FFIs) to identify, document and report on U.S. accounts.
15. How can I request a Cheque Book?
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You can raise a Cheque book request by visiting the nearest ABK branch or through Online Banking. Normally, recently requested Cheque Books are processed after 3 business days.

Your branch will contact you as soon as your recently requested Cheque Book is ready for collection.
16. How much will a Cheque Book request cost?
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Cheque Book request charges vary by type:
  • 10 paper Cheque Books KD 2 if request through the Branch.
  • 25 paper Cheque Books KD 1.5 if request through Online Banking and KD 5 if requested through the Branch.
  • 50 paper Cheque Books KD 2 if request through Online Banking and KD 7 if requested through the Branch.

Guaranteed Term Deposits

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17. What are the benefits of the Guaranteed Term Deposit?
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The Guaranteed Term Deposit provides customers with:
  • Deposit period up to 3 years.
  • The best interest rate
  • Guaranteed loan against fixed deposit with special rate of 90% of your deposit.
18. How do I receive my Guaranteed Term Deposit interests?
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The customer will have their interests credited to their Savings Account.
19. When will the Guaranteed Term Deposit interest be credited to my account?
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Guaranteed Term Deposit interests are credited to your account on a monthly basis.
20. What are the charges for breaking the Guaranteed Term Deposit with ABK?
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There are no charges for breaking a deposit. However, customers will lose all interests affiliated with the term deposit.
21. What is the minimum opening balance for the Guaranteed Term Deposit?
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The minimum opening balance required for the Guaranteed Term Deposit is KD 20,000.

Retail Term Deposits

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22. What are the benefits of the Retail Term Deposit?
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The Retail Term Deposit provides customers with:
  • Earning interests as early as a week depending on the customer’s preference.
  • Deposit in multiple currencies such as: Kuwaiti Dinar, Pound Sterling, Euro, US Dollars, Swiss Franc, Australian Dollars, UAE Dirham
  • Interests can be credited to the account based on the maturity date.
23. Where is the Retail Term Deposit interest credited?
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Customers can choose to credit their interests into a Savings Account or on the Deposit amount.
24. When will the Retail Term Deposit interest be credited to my account?
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Retail Term Deposit interests are credited to your account or can be added into your deposit amount based on the Maturity date.
25. How can I get a weekly interest deposit?
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To acquire a weekly interest deposit for the Retail Term Deposit, you must have a minimum of KD 25,000 in a regular deposit.
26. What are the charges for breaking the Retail Term Deposit with ABK?
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There are no charges for breaking a deposit. However, customers will lose all interests affiliated with the term deposit.
27. Can I get a loan against my Deposit with ABK?
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Yes, you can get a loan from the following:
  1. Loan against fixed deposits in Kuwaiti Dinar will allow customers 90% of the fixed deposit amount as a loan
  2. Loan against fixed deposits in any other currency will allow customers 75% of the fixed deposit amount as a loan
28. What is the minimum/ maximum opening balance for the Retail Term Deposit?
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  • Minimum opening balance required for the Retail Term Deposit is KD 5,000.
  • There are no maximum opening amount for the Retail Term Deposit

Salary Accounts

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29. What are the requirements to open a Salary Accounts?
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To open a Salary Account, you must provide the following:
  • A salary certificate.
  • Customer’s original civil ID.
  • KD 10 deposit to the account.
30. What is the minimum salary required to open a Salary Account?
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The minimum salary requirement varies by account type:
  • KD 299 and below for Al Amel Accounts.
  • KD 300 for Al Raed Accounts.
  • KD 1000 for Prestige Accounts.

Prestige Accounts

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31. What are the privileges of the Prestige Account?
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  • Free Valet parking across 14 locations.
  • Free cheque book for a lifetime. (Through any of ABK’s branches)
  • Half charges on standing orders monthly fees.
  • Free safety deposit box for the 1st year.
For more information on the Prestige Account, click here.

Al Tajer Account

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32. What is the Al Tajer Account?
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Al Tajer Account is a Current Account that offers you a business solution bundled with an array of benefits.
33. What is the purpose of the Al Tajer Account?
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The Al Tajer Account supports small business owners and provides the best benefits to support any business.
34. What are the requirements or conditions for the Al Tajer Account?
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Al Tajer Account must follow these conditions:
  • Customer must link a Point of Sales (POS) machine to the Al Tajer account within the first 3 months of account opening.
  • Customer’s balance must not be below 5,000 KD after 6 months of account opening to be eligible for the account’s benefits.
35. What if the conditions are not met by the customer?
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The customer will lose all the benefits and features of the Al Tajer Account and will revert back to a current account until conditions are met again.
36. What are the benefits of the Al Tajer Account?
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All ABK customers who open the Al Tajer Account will be provided with:
  1. Free account statement
  2. No minimum amount for balance charges
  3. The SMS Banking service will be provided for account holders
  4. Access to the Online Banking portal
  5. Free cheque book for life
  6. 1 free local and international telex transfer through branch per month
  7. An account officer will be assigned for any assistance to the account
  8. Preferential rates on deposits
  9. Special offer on money transportation.
37. Can the Al Tajer Account be opened with other currencies?
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Al Tajer Accounts can only be opened in the Kuwaiti Dinar.
38. Can I deposit or withdraw from the Al Tajer ATM card?
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Al Tajer ATM cards are issued exclusively for inquiry purposes. Deposit and withdrawal transactions can only be initiated from any of the ABK branches.

Savings Accounts

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39. What are the requirements to open a Savings Account?
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To open a Savings Account, you must provide your original civil ID and a KD 100 deposit to the account.
40. Can I transfer my salary to a Saving Account?
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Your Salary cannot be transferred to saving account. However, you can transfer your salary to either the Al Raed Account or the Prestige Account.

Al Manal Accounts

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41. If I have Al Manal account, can I withdraw from an ATM machine?
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Deposit and withdrawal transactions must be initiated from any of the ABK branches for all Al Manal account holders.

Youth and Kids

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42. How can I open an account for my children?
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At ABK we have two types of Accounts for Kids and Youth please click here for detailed Account information.
  • To open the Account, the parent (Father) and child’s Civil ID should be present at the time of opening the account.
  • Please note that the child’s birth certificate, Civil ID, and the Mother’s Civil ID should be present at the time of opening the account. That is only if the child’s Mother is attempting to open the account.