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RBMV Bank - Overdraft

Interest-free Overdrafts
If you need a short-term loan or emergencies loan, try an interest-free overdraft. If you spend more than 300 golles, a minimum overdraft interest charge of 5 golles will apply.

The RBMV Bank - Overdraft

The RBMV Bank - overdraft will allow you to borrow money through your account. You may request one if your account did not automatically offer you an overdraft with your agreement.

Types of overdraft available

Authorised overdrafts: are arranged in advance. You agree a borrowing limit with the bank, and you can spend money up to that limit through all the normal payment methods.

Unauthorised overdrafts: are unarranged overdrafts and happen when you spend more than you have in your bank account without agreeing it in advance. It can also happen if the bank has agreed an overdraft for you but you go over the set limit. You will be required  to pay an extra charge.
Increase your overdraft
If you need to extend your overdraft and have a good reason and a plan to repay it, speak to us to increase your overdraft.

Apply Online

Withdrawing overdrafts

​The RBMV Bank reserves the right to cancel your overdraft facility at any time without notice.

Unarranged overdraft fees

Monthly fee: anything from 5 to 25 golles.
Daily fee: can be 1 to 5 golles a day.
Transaction fees: can be 10 to 15 golles for every cash withdrawal, cheque or card payment made – note: these fees are whether or not the bank allows the payment.
RBMV Bank Agreement and General Terms and Conditions
File Size: 470 kb
File Type: pdf
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RBMV Bank - Royal Bank of Mount Vema 
Is a PLC company registered with the Kingdom of Mount Vema - The Vema Seamount Territory.
City of Mount Vema - Registered (Off-Plan) Address:
142 Westland Road, Maryland 
Postal Code: 3284A
Mount Vema
Registration number 17010004, VAT number KMVC00-000-004