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Terms and Conditions
01. GENERAL TERMS
As a Monarch Customer, you agree to be bound by the following terms and conditions, which at the bank's discretion may change from time to time.Terms and conditions for all PRIME BANK LIMITED products are available upon request.

Definition of "Monarch Account" means all such retail accounts which are held by you, or if you are more than one person, by all of you with Prime Bank Limited and which are designated and framed as “Monarch Account” by Prime Bank Limited from time to time.
02. ACCOUNT OPENING REQUIREMENTS
Account Opening Form-to be filled in and signed by each account holder, Latest passport size photograph (2 copies) for each account holder attested by the introducer, copy of passport/voter identity card, Introduction of account holder-to be signed by introducer with account number, 1 (one) copy of nominee's photograph (attested by the account holder) and signature of the nominee. Minor accounts additionally require copy of the birth certificate and photograph. Foreign citizens in Bangladesh additionally require - photocopy of passport with valid visa and work permit.
03. ELIGIBILITY CRITERIA
The following qualification criteria has been set forth as a prerequisite of becoming a MONARCH customer.
Option Eligibility Criteria Threshold Amount
1. Savings and Current Accounts BDT 20 Lac/Account
2. Combination of Fixed Deposit & Savings/Current Accounts BDT 30 Lac/Account
3. Fixed Deposit Only BDT 30 Lac/Account
4. Exclusive Family Recognition BDT 10 Lac/Account*
*Conditions apply.
And/or any other criteria as determined by Prime Bank Limited from time to time.
To remain eligible after joining, you must maintain Monarch deposit relationship with sufficient funds to cover the minimum balance required.
The accountholder will need to meet eligibility criteria, as stated in clause 3, to become a member of Monarch. The accountholder's admission to Monarch is at the discretion of the Bank and contingent upon due compliance with terms and conditions set out herein and/or as may be notified by Prime Bank Limited from time to time. Prime Bank Limited may terminate/cancel Monarch membership at any time and will notify the accountholder.

The membership for Monarch Account will be valid, from the date the accountholder becomes a Monarch Customer and shall continue as long as the accountholder maintains the eligibility criteria as stated in clause 3 or otherwise terminated or cancelled by Prime Bank Limited as stated above, whichever is earlier. The accountholder may close Monarch Account anytime by giving the Bank at least 15 (fifteen) days prior written notice.
04. BENEFITS AND PREFERRED PRICING
Monarch customers are entitled to certain benefits and preferred pricing structure.
Prime Bank Limited reserves the right to amend or withdraw benefits and preferred pricing at anytime.
05. CREDIT FEES
Monarch customers are entitled to preferred credit pricing which Prime Bank Limited reserves the right to amend or withdraw anytime.
06. FEES AND CHARGES
All fees and charges, including government charges are subject to change.
07. CANCELLATION OF MONARCH SERVICE
Your eligibility to be a Monarch customer and all associated benefits will immediately cease to apply if:
You do not pay the amount due to the bank under agreement for the services; any account or any other Prime Bank Limited product.
You fail to maintain the minimum balance requirement for three consecutive months.
Monarch banking services are available to you as long as you remain a Monarch customer. In the event, that you cease to be eligible for Prime Bank Limited's Monarch Banking, your Prime Bank Limited's account relationship will automatically be converted to a standard account and will be subject to normal fees and charges detailed in “Prime Bank Limited's schedule of charges".
08. MONARCH LOUNGE AND BRANCH PRIVILEGE
As a Monarch customer, you are allowed to use Monarch lounges. If the branch does not have a Monarch lounge, you can direct your queries to the branch manager.
Any person other than the customer him/herself bearing Monarch instruments is not eligible to use Monarch banking lounge and Monarch services in other branches.
09. IDENTIFICATION OF THE ACCOUNT
Each account will be given one account number. This number is to be properly quoted for each deposit and for any correspondence to the bank. The Bank will not be responsible for any loss or damage occurring as a result of wrong quotation of account number.
10. ISSUE AND SAFETY OF CHEQUES
Cheques will only be issued to a customer when all documentations considered necessary by the Bank have been obtained. It is the responsibility of the accountholder to ensure cheques in their possession are kept safely. The customer must all time exercises due care to prevent cheques, payment orders and other order or instruments from being altered or forged in a manner which may facilitate fraud. In such events, the Bank is not responsible for any loss suffered by the customer or any other person. Any loss or misuse of the cheques or other instruments must be immediately reported to the Bank and confirmed in writing without any delay. Cheque book and other securities will be valid if signed by authorized officials.
11. SIGNING OF CHEQUE
Cheque leaf is to be signed by the account holder/account operator as per specimen signature recorded with the Bank and any alteration and cutting should be confirmed by full signature. No cheque will be honored if the same is postdated, anti-dated or mutilated. Bank reserves the right to impose fine for bounce of cheque for insufficient fund in the account.
12. ORDERS TO STOP PAYMENT OR AMEND INSTRUCTION
A customer may place a stop payment order for a cheque in writing. The Bank will not make the payment if it has reasonable opportunity to act on such order.
13. BANK'S RIGHT
Bank reserves the right to enquire the customer for source of fund as per Anti-Money Laundering Act-2009 and ask for nominees as per Bank Companies Act - 1991. Bank reserves the right to close any account if found unsatisfactory or may decline to issue fresh cheque book without assigning any reason. Bank reserves the right to realize charges from any account as per prevailing norms of the Bank. The Bank is authorized to realize excise duty, income tax etc. as per government instruction. The bank reserves the right to debit any account that may have been inadvertently credited with an item subsequently unpaid on collection.
PLEASE NOTE
These terms and conditions must be read in conjunction with and supplemental to terms and conditions detailed for every product and service. In the event of any conflict, the terms and conditions of respective product would prevail.
Charges are detailed in the brochure of Prime Bank Limited-MONARCH banking schedule of charges and should be read in conjunction with Prime Bank Limited schedule of charges.
Prime Bank Limited may use its discretion and for any purpose (including for the purpose of fraud prevention, audit, the provision of service by any third party, debt collection or if required by any competent government and regulatory body) disclose any information, details or data relating to the customer or the customer’s transactions to any local authorities such as Bangladesh Bank, government bodies, judicial bodies, in accordance to any requirement of any provision of law and order of any court of law.
Customer agrees to indemnify and keep Prime Bank Limited indemnified in the event of any dispute or claim arising out of an account resulting in loss or damage suffered by Prime Bank Limited.
Monarch Account is a complimentary privilege which Prime Bank Limited offers to its valued account holders as recognition and gratitude for their loyalty and the services under the Monarch Scheme are provided against no consideration and as such do not create any legal binding obligations on Prime Bank Limited.