This fee schedule is part of your deposit agreement with the Bank of the Marshall Islands. Fees are subject to change. Contact any branch for the most current schedule.
Opening an Account
Minimum Balances
Monthly Charges
Mobile Banking
Transactions
Miscellaneous
Loan Fees
Non-Customer
Requirements to Open an Account
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
| Account Type | Minimum |
|---|---|
| Personal Savings | $125.00 |
| Personal Checking | $300.00 |
| Business Checking | $1,000.00 |
| Money Market | $2,500.00 |
| Certificate of Deposit | $500.00 |
| Non-Government Organisations | $300.00 |
Monthly Service ChargesApplied when balance falls below minimum
| Account Type | Monthly Fee |
|---|---|
| Checking | $15.00 |
| Money Market | $20.00 |
| Savings | $2.00 |
Mobile Banking Fees
| Charge Type | 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 min. |
| Daily Transaction Limit per Account | $100.00 |
| Return Cards | $5.00 |
| Merchant Receipt Book | $5.00 |
Transaction & Activity Charges
| Account | Charge | Amount |
|---|---|---|
| Savings | After 4 withdrawals per month | $2.00 each |
| Any withdrawal 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 min. balance (last 3 months) below $100,000 | 1% | |
| Automatic transfer to cover overdraft | $15.00 | |
| Business check books | $15.00 | |
| Non-Standard Checks | $1.00 | |
| Temporary Checks | $0.50 | |
| Wire Transfer | Minimum charge | $50.00 |
| If amount > $10,000 | 0.01% | |
| Telex fee | $25.00 | |
| Amendments / cancellation | $25.00 | |
| Wire Transfer Forwarded | $25.00 | |
| Incoming wire fee | $17.50 | |
| Forwarding deposits to other banks | $50.00 | |
| Bank Allotment | Company | $30.00 |
| Individuals | $2 bi-wkly / $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 | |
| Foreign Exchange | Minimum | $5.00 |
MoneyGram® Transfer Fees
| Transfer Amount | Fee |
|---|---|
| $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 |
Miscellaneous ChargesSpecial Savings, Checking & Loan
| Charge Type | 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
| Charge Type | Amount |
|---|---|
| Issue of Letter of Credit | $200 min 25% / 3 mo • 50% / 6 mo • 75% / 9 mo |
| 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 minimum |
| Consumer Loan Fee | Up to $1,000: $10 $1,001–$2,000: $20 $2,001–$3,000: $30 $3,001+: $50 |
| Business Loan Fee | 1% |
| Late Fee | 6% |
| Sight Draft D/A Acceptance Fee | $50.00 |
Non-Customer Charges
| Charge Type | Amount |
|---|---|
| Check Cashing Without an Account | 1% or $5.00 min. |
| Exchange Cash Without an Account | 5% |
Non-customer services are offered at branch manager's discretion and may not be available at all locations.