| Customer Segment |
- This is an FC (Foreign Currency) account designed exclusively for Mariners (seafarers) to address their unique financial needs, including irregular income cycles, international transactions, and remote access requirements. It offers along with a savings account tailored features to ensure seamless banking, security and financial growth.
- Mariners (seafarers) employed in merchant shipping, navy, or offshore industries.
- Individuals with irregular income cycles (e.g., contract-based payments).
- Those requiring international payment solutions and multi-currency support.
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| Availability |
A. Flexible Account Management
- Income Deposits: Facilitate direct deposit of salaries, bonuses, and allowances, even during extended voyages.
- Zero Balance Requirement: No minimum balance required to open the account.
B. International Banking Solutions
- Pre-Paid Card or International Credit Card (Co-Branded), Yearly 2 International Lounge free with Priority Pass.
- Beneficiary Management: Add beneficiaries for easy fund transfer to family through Midland online.
C. Remote Accessibility
- Midland Online: User-friendly app for account management, real time conversion USD to BDT, transfers, and bill payments from anywhere.
- Customer Support: 24/7 helpline with dedicated mariner support.
D. Financial Growth Tools
- Customized Savings Plans: Offer fixed deposits, recurring deposits, or savings plans tailored to mariners’ income cycles.
- Insurance Options: Provide travel, health, or life insurance packages for mariners and their families.
- Investment Options: Access to mutual funds, bonds, or other low-risk investment products.
E. Security Features
- Enhanced Fraud Protection: Robust security measures to protect against unauthorized transactions.
- Emergency card Lock/Unlock: Ability to temporarily lock the card in case of lost or stolen cards.
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| Eligibility |
- A certified mariner (e.g., seaman’s book, CDC, or employment contract required).
- Valid identification (passport with VISA page).
- Proof of employment only in the foreign owned ship or foreign maritime industry.
- Local Shipping Companies Crew are not eligible for these accounts.
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| Availability |
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| Initial Deposit ( both FC and Savings) |
- No initial deposit required to open the account.
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| Minimum Balance ( both FC and Savings) |
- Minimum account balance is not applicable.
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| Interest Calculation (USD Account) |
- This is a non-interest bearing account
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| Account Opening Process and Required Document |
Documentation Requirements
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Seaman’s Book or Continues Discharge Certificate (CDC)
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Employment Contract or Letter from Shipping Company.
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Proof of Address (utility bill, rental agreement, etc.).
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Recent Photograph 2 copies
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TIN and proof submission of Tax Return
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NID and Recent Photograph of Nominee
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| Know your Customer (KYC) & Transaction Profile (TP) |
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Branches will do the KYC portion at the time of opening of accounts mentioned in the account opening form;
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Customer will fill up Transaction Profile (TP) in the account opening form at the time of account opening;
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| Account Nominee |
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Multiple nominees are allowed as decided by the account holder(s) for each account;
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Nomination will be cancelled if nominee(s) dies in the life time of account holder(s). The account holder(s) in such cases will advise in writing to appoint new nominee(s);
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Account holder(s), with written instruction, may change the nominee(s) at any time;
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Nominee will settle the account as per bank’s prescribed policy;
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| Introducer’s Eligibility |
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Any MDB account holder (Introducer is not mandatory, if account is opened through NID);
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Any MDB officials (permanent or contractual);
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Socially known person acceptable to the Bank;
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| Pre-Paid Card Facility |
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Pre-Paid card will offer following current SOC (Schedule of Charge) and respective regulator guideline.
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No annual charge
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Annually 2 times international lounge facilities are free with priority card for primary card holder only (based on availability).
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For any card replacement (lost/stolen/damaged), the customer needs to pay same as “Schedule of Charge of MDB Pre-Paid Card” of the Bank;
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| Locker Facility |
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Only nominated Branches will have the facility of locker;
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Depending on the space availability of lockers, the service can be availed;
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Lockers can be allotted individually as well as jointly;
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Locker charges will be applied as per SOC;
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| Internet Banking Facility |
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Internet Banking Facility (midland online) will be available for all the accounts under this product.
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Real time FC conversion into BDT feature
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Transaction OTP send to email address
- *Customers’ will highly be pursued to avail the internet banking facility. It’s fully free of cost.
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| SMS Banking Facility |
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The SMS banking facility is offered free for 1st year only. After 1st year, the SMS banking fee will be as per Schedule of Charges (SOC) of MDB.
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| Collaboration with Marine Institutions |
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Midland Bank PLC. (MDB) can consider forming strategic partnerships with various Marine Institutions to tap into an untapped market segment and expand cross-selling opportunities. This collaboration can include tailored products and services and digital banking solutions designed to meet the financial needs of Mariners.
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The partnership will not only increase customer acquisition but also build long-term relationships, enhance the bank's brand value, and promote financial smoothness for Mariners.
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| Account Maintenance Fee |
As per Schedule of Charges (SOC) of MDB.
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| Account Closure Fee |
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Account can be closed at any time by obtaining written instruction from the account holder;
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The account closure fee will be as per Schedule of Charges (SOC) of MDB;
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| Other Fees & Charges |
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The operation of this accounts is subject to the laws, banking regulations or banking practices that may change time to time;
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All Taxes / Duties / levies and/or any other surcharges presently in force or that may be imposed by the Government of Bangladesh (time to time) will be deducted / recovered from the account;
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| Other Terms & Conditions |
Account can be closed at any time by obtaining written instruction from the account holder;
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| Product Ownership |
Institutional Banking Division, Midland Bank PLC., Bangladesh.
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| PPG Approval & Review Process |
As per 67th meeting of the Board of Directors held on December 27, 2017, the Board of Directors have authorized the Management Committee (MANCOM)/SMT to approve all new products PPG of the Bank. Hence, this Product Program Guideline (PPG) is presented to SMT as a product-launching guideline for necessary approval. It can also be reviewed at any time by the SMT as and when required.
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