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Fee Schedule

This fee schedule is part of you deposit agreement with Bank of Marshall Islands.

Requirements to open an account

Type of Account Requirements
Personal Accounts Valid Identification (RMI citizens)
Valid Passport (Non-Citizens)
Business Accounts By-Laws
Articles of Incorporation
Business License
Entity Identification Number (EIN)
Foreign Investment License

 

Minimum Amount to Open an Account

Type of Account Amount
Personal Savings$125.00
Personal Checking$300.00
Business Checking$1,000.00
Money Market$2,500.00
Cerificate of Deposit$500.00
Non Government Organisations$300.00

 

Monthly Service Charges (***if balance falls below minimum amount above***)

Type of Account Amount
Checking$15.00
Money Market$20.00
Savings$2.00

 

Mobile Banking Fees

Type of Charge Amount
Minimum Account Balance$50.00
New BOMI Card$20.00
Card Replacement$15.00
Card Unlocking$1.00
Change Information on Card$1.00
Transaction Fee$0.10
Cash Withdrawal from Bank Agents2% or $1.00 minimum
Daily Transaction Limit per Account$100.00
Return Cards$5.00
Merchant Receipt Book$5.00

 

Transaction or Other Activity Charges

Type of Account Type of Charge Amount
Savings After 4 withdrawals per month $2.00 each
Any withdawal without passbook $5.00
Checking Checks Presented against NSF $20.00
Returned checks for any reason $20.00
Stop Payment Order $20.00
Cash check if minimum bal. for last 3 months falls below $100,000.00 1%
Automatic transfer to cover overdraft $15.00
Business Checks books $15.00
Non-Standard Checks $1.00
Temporary Checks $0.50
Wire transfer Minimum charge $75.00
If amount is greater than $10,000.00 75%
Telex fee $25.00
Wire ammendments/cancellation $25.00
Wire Transfer Forwarded $25.00
Incoming wire fee $12.50
Forwarding deposits to other banks $50.00
MoneyGram® $0 – $100.00 $12.00
$100.01 – $200.00 $15.00
$200.01 – $400.00 $20.00
$400.01 – $650.00 $30.00
$650.01 – $900.00 $40.00
$900.01 – $1,300.00 $50.00
$1,300.01 – $1,800.00 $60.00
$1,800.01 – $2,500.00 $70.00
$2,500.01 – $3,500.00 $80.00
$3,500.01 – $4,500.00 $90.00
$4,500.01 – $10,000.00 $100.00
Amendments $10.00
Bank Allotment Company $30.00
Individuals

$2 biwkly

$4 monthly

$12 qtrly
Outgoing fax Ebeye $3.00
Off-Island $5.00
Other checks Cashier's checks $12.50
FHB/CSB Checks $20.00
Other Fees TCD withdrawal (before maturity) $55.00
Deposit Certificate request fee $20.00
Photocopy $0.25

 

Miscellanseous Charges (***Special Savings, Checking, Loan***)

Type of Charge Amount
Special Statements Request (Savings, Checking, Loan) $10.00
Checking Deposit Book $20.00
Savings Passbook Replacement $20.00
Premature Closure of Checking (within 90 days) $20.00
Premature Closure of Savings (within 90 days) $20.00
Garnishment $50.00
Other Legal Process $50.00
Public Notary $5.00

 

Loan Fees

Type of Charge Amount
Issue of Letter of Credit

Minimum of $200

25% / 3 months

50% / 6 months

75% / 9 months
Letter of Credit Issuance Fee$600.00
Letter of Credit Settlement25%
Letter of Credit Amendment$240.00
Letter of Credit Guarantee1%
Government Bid Bond1% (1 yr.)
Performance Bond3% (1 yr.)
$100.00 Minimum
Consumer Loan FeeUp to $1000: $10.00
$1,001–$2,000: $20.00
$2,001–$3,000: $30.00
$3,001–Up: $50.00
Business Loan Fee1%
Late Fee6%
Sign Draft Acceptance Fee$50.00

 

Non Customer Charges

Type of Charge Amount
Check Cashing Without an Account1%
$5.00 Minimum
Exchange Cash Without an Account5%

 

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