This fee schedule is part of your 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 |
| Employer 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 Agents |
2% 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 |
$50.00 |
| If amount is greater than $10,000.00 |
%0.01 |
| Telex fee |
$25.00 |
| Wire ammendments/cancellation |
$25.00 |
| Wire Transfer Forwarded |
$25.00 |
| Incoming wire fee |
$17.50 |
| 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 |
| Foreign Exchange |
Minimum |
$5.00 |
| 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 Settlement |
25% |
| Letter of Credit Amendment |
$240.00 |
| Letter of Credit Guarantee |
1% |
| Government Bid Bond |
1% (1 yr.) |
| Performance Bond |
3% (1 yr.) |
| $100.00 Minimum |
| Consumer Loan Fee |
Up to $1000: $10.00 |
| $1,001–$2,000: $20.00 |
| $2,001–$3,000: $30.00 |
| $3,001–Up: $50.00 |
| Business Loan Fee |
1% |
| Late Fee |
6% |
| Sight Draft D/A Acceptance Fee |
$50.00 |
Non Customer Charges
| Type of Charge |
Amount |
| Check Cashing Without an Account |
1% |
| $5.00 Minimum |
| Exchange Cash Without an Account |
5% |
