MDB PERSONAL RETAIL ACCOUNT FOR MERCHANTS

The Personal Retail Account for Merchants is an interest-bearing Special Notice Deposit (SND) account designed to provide business owners and individual entrepreneurs with a convenient and value-added banking solution.

This account facilitates Bangla QR merchant acquiring by offering an attractive settlement account with interest benefits under the applicable SND framework. It aims to encourage merchant onboarding, strengthen transaction-based deposits, and promote greater participation in the digital payment ecosystem.

With Midland Bank PLC., merchants can enjoy convenient banking services while managing their business transactions through a dedicated account designed to support their financial needs.

Title		Details
Key Features		Interest-bearing Special Notice Deposit (SND) account. Account maintained in local currency (BDT). No minimum initial deposit required. Free Debit Card facility for the first year. Free SMS Alert facility for the first year. Suitable for Bangla QR merchant settlement.
Customer Segments		Business owners and Individual entrepreneurs
Eligibility		Any business owner or individual entrepreneur aged 18 years or above.
Account Opening Channels		Available at all Midland Bank branches, sub-branches, and Agent Banking Centers.
Required Documents		Bank's prescribed Account Opening Form (AOF), and KYC documents. Applicant's and nominee's National Identity Card (NID). Two (2) copies of the applicant's passport-size photograph and one (1) copy of the nominee's passport-size photograph. Copy of Utility Bill (Gas, Electricity, or Water). Trade License (where applicable). Attestation from the Local Representative (Union Chairman/Ward Commissioner/City Corporation) or Trade Association is required only for high-risk customers Other documents as prescribed by the Bank.
Nominee Facility		Multiple nominees are allowed, as decided by the account holder(s). Nominees may be changed at any time through written instructions. In the case of a minor nominee, a legal guardian's photograph and photo ID are also required. If a nominee dies during the lifetime of the account holder(s), the nomination will be cancelled, and the account holder(s) must provide written instructions to appoint a new nominee. In the event of the account holder's death, the nominee will not be allowed to continue the account. The balance deposited before the account holder's death will be paid to the nominee(s).
Interest Rate		Interest will be paid based on the applicable deposit balance slab.
Debit Card Facility		A Debit Card is available at the customer's request. The annual Debit Card fee is waived for the first year. The annual fee after the first year and re-issuance fee will be applicable as per the Bank's Schedule of Charges (SOC).
SMS Alert Facility		SMS Alert facility is free for the first year. After the first year, applicable charges will be as per the Bank's Schedule of Charges (SOC).
Account Maintenance Fee		No account maintenance fee is applicable.
Account Closure Fee		The account can be closed at any time upon submission of written instructions from the account holder. Applicable account closure fees will be charged as per the Bank's Schedule of Charges (SOC).
Other Fees & Charges		Government Excise Duty is applicable. All applicable taxes, duties, levies, and surcharges imposed by the Government of Bangladesh from time to time will be deducted or recovered from the account.
Terms & Conditions		Midland Bank PLC. reserves the right to amend the rules and procedures governing the product, whenever deemed necessary.