Deal of the Week Tailor-made banking services are the new strategy at Mashreq, while Barclays is giving its customers a better way to get the best rate of exchange for their currencies.
Mashreq bundles services for 'complete' solutions
Mashreq, Dubai's second-biggest bank by assets, has launched a range of tailor-made banking services as part of the lender's strategy to move away from "pushing" generic products onto customers.
The Majestic Salary, Loan, Mortgage and SME Finance packages are aimed at providing clients with value for money, convenience and accessibility. Each package, the bank says, offers customers access to various products through a single bundle.
"It offers tangible value, is relationship-manager enabled and is a high convenience, one-stop complete solution," says Farhad Irani, the bank's head of retail banking.
"We have stopped pushing generic products onto customers. Instead, we have now embraced them with a tailor-made solution that makes banking with multiple institutions a thing of the past. This is truly a revolution and the face of the new Mashreq."
The salary package includes free online remittances and remittance continuity insurance, a free credit card and current account with no fall-below fees and a free overdraft facility. The bank is also giving Majestic Salary customers a free BlackBerry, which is pre-loaded with Mashreq's mobile app.
The Majestic Loan package offers an interest rate starting from 6.49 per cent, as well as a free credit card and a free BlackBerry. The bank's new mortgage package comes with a rate of 4.99 per cent, has a zero processing fee and free life and property insurance for the first year. Approved customers also receive a free iPad 2 as part of the package.
Majestic SME Finance offers a range of solutions through a business loan or trade finance. Both offer flexible financing with competitive interest rates, a free business current account with no minimum balance, a free credit card, a platinum business debit card and free access to MashreqBusinessOnline.
For more information, call 04 424 4444 or visit www.masreqbank.com.
Keeping an eye on foreign-exchange (FX) rates is hard at the best of times. But Barclays Wealth International, the UK's largest wealth management firm, is hoping to change this with the launch of a free online tool for global customers to monitor FX rates.
Called Barclays Wealth iAlert, it allows clients to monitor up to 75 currency pairs. Subscribers to the service receive e-mail alerts to inform them when their selected currencies reach their preset upper and/or lower levels.
Clients can also access real-time foreign exchange data, such as current and historical rates, market commentary and tutorials.
"For our clients, having access to up-to-date information on foreign-exchange rates is an important factor in managing their wealth effectively, yet few people have the time to watch currency rates as closely as they would like to," says Shaun Phillips, the managing director of Barclays Wealth International. "It is a valuable, time-saving addition to our foreign exchange service and is complemented by access to research publications and tutorials, including case studies and online demonstrations, which are designed to enable clients to make more informed decisions."
The online service is available to existing clients. Individuals who are not clients can sign up for a free 60-day trial.
For more information, go to www.barclayswealth.com/banking.