The ruling on a bank charging annual fees for opening a new account
Machine translationRead the Arabic original
The questioner:
Honorable Shaykh. A questioner says: I want to deposit a sum of money in one of the banks and open a new account. They said that one hundred riyals will be taken from you every year. What is the ruling on this? And is there an alternative to a bank like this?
The Shaykh:
We repeat the question.
The questioner:
He says: I want to deposit a sum of money in one of the banks and open a new account. They said that two hundred riyals will be taken from you every year. What is the ruling on this? And is there an alternative to a bank like this?
The Shaykh:
This is something I am not aware of regarding banks. What is known is that you deposit a deposit for safekeeping only; you withdraw it and take from it whenever you wish. This is permissible out of dire necessity if you have money you are afraid for and you do not find a place where you can keep it safe except the bank, then it is permissible to deposit it for safekeeping, for safekeeping due to dire necessity. As for depositing for the sake of investment, this is not permissible. It is not permissible because investment riba (usury or interest) is that you deposit a sum with them, and every month or every year they give you a fixed, determined amount. This is riba. Yes.
The presenter:
May Allah reward you
Honorable Shaykh. A questioner says: I want to deposit a sum of money in one of the banks and open a new account. They said that one hundred riyals will be taken from you every year. What is the ruling on this? And is there an alternative to a bank like this?
The Shaykh:
We repeat the question.
The questioner:
He says: I want to deposit a sum of money in one of the banks and open a new account. They said that two hundred riyals will be taken from you every year. What is the ruling on this? And is there an alternative to a bank like this?
The Shaykh:
This is something I am not aware of regarding banks. What is known is that you deposit a deposit for safekeeping only; you withdraw it and take from it whenever you wish. This is permissible out of dire necessity if you have money you are afraid for and you do not find a place where you can keep it safe except the bank, then it is permissible to deposit it for safekeeping, for safekeeping due to dire necessity. As for depositing for the sake of investment, this is not permissible. It is not permissible because investment riba (usury or interest) is that you deposit a sum with them, and every month or every year they give you a fixed, determined amount. This is riba. Yes.
The presenter:
May Allah reward you
Source
75-اللقاء الأسبوعي مع الشيخ صالح الفوزان - 11 — archive.org (19:08)
The Arabic text is a machine transcription of the audio recording.