Personal Finance - Case Study Essay Example | Topics and Well Written Essays - 500 words

Personal Finance - Case Study - Essay Example king accounts of both DOHA and AL AHLI are free, and thus there is no benefit or loss a customer gets when he chooses any of these (Elsamadisy, AlKhater, & Mahmoud, 2006). The lesson learned is that DOHA offers cheaper rates than AL AHLI, and their credit cards are easy to service. The annual percentage rates of both banks vary for credit cards but are fixed for checkout accounts. This means that the flexibility and affordability of annual interest rates depend on the amount of money an individual has in the bank. On the other hand, there is no difference whether a person has a DOHA or AL AHLI’s checkout account because both banks offer fixed annual percentage rates. The lesson learned is that it is easy to finance checkout accounts than credit accounts in terms of annual percentage rates. The overdraft fees for DOHA’s credit card and checkout accounts are 90% and 95% of the balances held respectively. AL AHLI’s fees are higher at 95% and 98% for the credit card and checkout accounts respectively. DOHA offers lower rates by 5% and 3% for the respective account (Hossain, & Leo, 2009). Higher overdrafts attract higher fees on both accounts in both banks. The lesson learned is that DOHA offers cheaper overdraft charges for both credit cards and checkout accounts than AL AHLI, even though, the differences are slim. The transaction fees that credit card holders pay in both banks vary depending on where the transaction is made (Elsamadisy, AlKhater, & Mahmoud, 2006). DOHAs costs depend on the location while AL AHLI charges depending on the amount. For instance, DOHA charges QAR 15 for transactions outside Qatar while AL AHLI charges QAR 10 for amounts less than QAR 1000. Both Banks do not charge any transaction fees for their checkout accounts. The lesson learned is that is advisable to use DOHA’s credit card when traveling overseas. However, a foreign traveler wishing to withdraw a lot of money should consider using AL AHLI’s services to enjoy the huge