If you're new to Qatar and still settling down, or if you have been around and just looking for banking options; for sure you would be looking for details on how to do so.
The ILoveQatar.net (ILQ) team brings you the information you need to know on how to open a bank account in Qatar, including the list of required documents, initial deposit amounts and others.
Note: Commercial Bank and Qatar Islamic Bank have been chosen purely for sample purposes of deposit amounts.
Documents required to open a current account typically include the following:
If you do not have a Qatar ID or QID, some banks like QNB allow you to open a bank account; however, you would be required to submit a Qatar ID or QID within 90 days; otherwise, the bank account will be blocked.
Documents required to open a savings account:
The documents required may vary from bank to bank; however, those mentioned above are essential.
NOTE: It is best recommended to open your bank account by visiting a physical bank branch instead of doing so online.
Current Account:
Most banks in Qatar do not require a minimum initial deposit to open a current bank account. However, having a salary transfer would be a requirement. Some banks stipulate a minimum salary amount to open a current account. Minimum salary requirement:
Savings Account:
Opening a savings account will require a deposit. Deposit amounts:
Typically being a resident of Qatar is a prerequisite to opening a bank account in Qatar; however, some banks offer a service where you can apply for your bank account once your immigration formalities are complete from your country of origin.
One such bank that offers this service is Commercial Bank.
Most banks in Qatar offer a debit card and chequebook free of charge for customers once they open a current bank account.
Consult the bank you are dealing with to learn more about the additional services and benefits.
Given the high demand for internet banking and technological advancements, internet banking has been made accessible through most banks in Qatar.
Typically, the banks would operate a website or have an application requiring simple registration steps to log in and gain access to your internet banking account.
ATMs are easily accessible across Qatar, most offering withdrawal and deposit services.
ATMs can be found at all WOQOD petrol stations, malls, hospitals, commercial complexes and many other places.
Note: Cash withdrawal and deposit via ATMs are free of cost, without any additional charges.
Typical operating hours of banks in Qatar are 7:30 am to 1 pm, Sunday to Thursday.
Banks with branches at malls in Qatar usually operate extended hours, in line with the mall's working hours.
Most banks in Qatar have a list of their branches and working hours on their respective websites.
Sources: QIB & CBQ
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