Banking Basics

Checkbooks issued by NBK comply with all security features and these include:

• Type of paper used which does not allow for checks to be photocopied

• Special type of ink

• Watermark as part of the checks

• UV logo

Please contact the individual who has provided you with this check and request that they provide you with a new standard check. Soon, it will not be possible to process this check at any local bank.

No, it is not. Direct sunlight damages the UV security features which would make it impossible for such checks to be processed by NBK.

• Do not write or sign over the MICR code at the bottom of the check.

• Generally keep checks in a good condition - it should not be folded or stapled to the paper. Make sure that your checks are not damaged in any way (ie: torn, folded, or crumpled).

• The check should not be exposed to direct sunlight nor kept in a hot place e.g. in a car in direct sunlight as this can damage the UV logo.

• Ensure the availability of sufficient funds in the account before issuing checks (checks returned due to insufficient funds may lead to criminal prosecutions and/ or closure of your account by NBK).

This rate is subject to change depending upon changes to declared interest rates.

Monthly loan installments are always fixed but may be increased or reduced at the end of every 5 years to reflect any change in the interest rate. For example, if the loan tenure is 15 years, the installment may be changed twice: the first change can occur at the end of the 5th year and the second change at the end of the 10th year.

As per NBK, customers must now submit evidence which proves that the loan was indeed used for the purpose it was granted. Customers have up to a year to submit the documents pertaining to their loan amount.

The purpose of the loan reflection period is to give sufficient time to customers to evaluate all options, read the terms and conditions and then makes a decision.

Only loans required for medical expenses are exempted and can be granted without regard to such a period.

A debit card is a form of payment where the customer can purchase an item using money that is deposited in his bank account without the need to withdraw it in cash.

All customers that currently hold an active account with the bank qualify for a debit card. In the case of a new customer, they will receive a debit card instantly when opening the account at the branch.

The NBK Debit Cards give direct access to your account and can be used at millions of locations worldwide at ATMs, point of sales and local websites.

A credit card is a form of payment where you can make purchases using borrowed money from the bank. This amount can be paid at a later date.

There are two ways to pay for the credit card: in monthly installments or one full payment. Paying in monthly installments will have extra charges associated that are called “flexible payment fees.” Paying the full amount is free and no extra charge is required.

The main difference is that using your debit card will directly reduce your account balance. Paying with your credit card doesn’t and you have more payback flexibility.

You can use your credit card internationally or locally using ATM machines to withdraw cash, at points of sales that accept credit card payment, or online if a merchant accepts credit card payments.

Generally, your relationship officer should discuss the fees for your specific card with you. You should be aware of the yearly fee of the credit card, the monthly flexible payments fee, the overdraw fees, cash advance fees and late payment fees.