Would I be charged any fee?

Under the Accelerator Programme, a monthly fee would be charged to the customer’s FAB credit card. This fee would be based on the customer’s Accelerator Tier, the monthly balance transfer to FAB and his/her eligible product holding.

How is credit turnover in my current account calculated?

We will aggregate the overall credit transactions (where funds are being deposited or transferred in) in your Current Account. Any transfer from your other FAB account to the Accelerator Current Account or any credits initiated by FAB (such as interest payments) will not be included in calculation of the credit turn over.

Do I need to maintain any average balance in my current account?

You can maintain any average balance in your Current Account. To take part in the Accelerator Programme, your monthly credit turn over in your Current Account should be at least AED 15,000 per month.

Do I also need to pay minimum monthly balance fee on my current account?

No. Minimum monthly balance fee on your Accelerator Current Account will be waived off.

Do I still need to pay the annual membership fee on my credit card?

No. The existing annual membership fee on the credit card will not be charged once a customer becomes a part of Accelerator Programme. Accelerator customers have a separate credit card fee schedule as covered in the fee section on our website.

If I change my Accelerator Tier during the middle of a month, how would the fee be charged next month?

The Accelerator monthly fee would be charged as per your Accelerator Tier at the time of credit card statement generation. All Accelerator benefits would also be accorded as per the same Tier.