BLOM BANK broker Accounts

blom bank Account Types & Opening Guide 2025: Complete Comparison and Registration Steps

Part 1: blom bank Account Types Explained

BLOM Bank offers a variety of account types tailored to meet the diverse needs of its customers. Below is an overview of the available account types:

1. Current Accounts

• Minimum Deposit Requirement: Not applicable
• Key Features:
• Free debit card (Visa Electron or Mastercard Electronic)
• eBLOM service for internet banking
• Monthly fee of USD 2 (waived under certain conditions)
• Target User Profile: Individuals seeking everyday banking solutions.
• Trading Instruments Available: Not applicable.

2. Account Plus

• Minimum Deposit Requirement: Not applicable
• Key Features:
• Free debit card options (Classic, Gold, Platinum)
• Flexible account management
• Access to various banking services
• Target User Profile: Individuals looking for enhanced banking features.
• Trading Instruments Available: Not applicable.

3. Savings Accounts

• Minimum Deposit Requirement: LBP 15 million or USD 10,000 for interest calculation
• Key Features:
• Competitive interest rates
• eBLOM service for internet banking
• Monthly fees apply based on account activity
• Target User Profile: Individuals aiming to save and earn interest.
• Trading Instruments Available: Not applicable.

4. Fresh Money Accounts

• Minimum Deposit Requirement: Not applicable
• Key Features:
• Payroll Plus Account
• Current Plus Account
• Business Plus Account
• Target User Profile: Individuals and businesses looking to manage fresh funds.
• Trading Instruments Available: Not applicable.

5. Oumnyati Account

• Minimum Deposit Requirement: Not applicable
• Key Features:
• Monthly payment options between LBP 75,000 and 3,000,000 or USD 50 and 2,000
• Personal loan eligibility
• Target User Profile: Individuals seeking structured payment plans.
• Trading Instruments Available: Not applicable.

Account Type Comparison Table

Part 2: Detailed blom bank Account Features

Account Features Comparison

Advantages of Each Account Type

• Current Accounts:
• Easy access to funds
• Free debit card
• Convenient online banking
• Account Plus:
• Flexible account management
• Free debit card options
• Access to additional banking services
• Savings Accounts:
• Competitive interest rates
• Encourages saving habits
• eBLOM service for easy management
• Fresh Money Accounts:
• Tailored for payroll and business needs
• Flexible fund management
• Oumnyati Account:
• Structured payment plans
• Personal loan eligibility

Disadvantages of Each Account Type

• Current Accounts:
• Monthly fees may apply
• Account Plus:
• Limited features compared to savings accounts
• Savings Accounts:
• Higher minimum balance for interest
• Fresh Money Accounts:
• Limited to fresh funds
• Oumnyati Account:
• Potential penalties for early withdrawal

Part 3: blom bank Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to residents of Lebanon.
• Prohibited Countries: Not specified, but generally excludes countries under sanctions.
• Identity Verification Documents Needed:
• National ID or passport
• Proof of residence (utility bill, lease agreement)
• Additional Documentation for Professional Accounts: Business registration documents.

KYC/AML Compliance Procedures

BLOM Bank adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all clients to provide valid identification and proof of address.

Verification Time Frames

Account verification typically takes 1-3 business days, depending on the completeness of the submitted documents.

Part 4: Step-by-Step blom bank Account Opening Guide

Step-by-Step Registration Process

1. Visit the website and click on the registration link.
2. Personal Information Entry: Fill in your personal details including name, address, and contact information.
3. Choose Account Type: Select the type of account you wish to open.
4. Set Trading Preferences: If applicable, specify your trading preferences.
5. Document Upload: Upload required identification and proof of residence.
6. Account Verification: Wait for the bank to verify your documents.
7. Fund Your Account: Once verified, fund your account as per the minimum requirements.
8. Start Banking: Access your account via the eBLOM app or online banking.

Desktop vs Mobile Registration Differences

The registration process is similar on both platforms, but the mobile app may offer a more streamlined experience.

Common Registration Issues and Solutions

• Issue: Document upload failure.
• Solution: Ensure documents are in the correct format and size.
• Issue: Delayed verification.
• Solution: Contact customer service for assistance.

Average Account Approval Time

Typically, account approval takes between 1-3 business days.

How to Upgrade/Downgrade Account Types

Clients can request account type changes by contacting customer service or visiting a branch.

Part 5: blom bank Demo Account Guide

Demo Account Features and Benefits

• Features: Practice trading without financial risk.
• Benefits: Familiarize yourself with the trading platform and strategies.

How to Open a Demo Account

Visit the BLOM Bank website or app and follow the prompts to create a demo account.

Demo Account Limitations

Demo accounts may have limited features compared to live accounts.

Virtual Balance Amount

Typically, demo accounts provide a virtual balance of USD 100,000.

Demo vs Live Account Differences

• Demo Account: No financial risk, virtual funds.
• Live Account: Real funds, actual market conditions.

Duration/Expiry of Demo Accounts

Demo accounts usually remain active for a limited time, often 30 days.

Part 6: blom bank Islamic Account Details

Swap-Free/Islamic Account Availability

BLOM Bank does not explicitly state the availability of Islamic accounts in the provided sources.

Eligibility Requirements

Not specified in the available data.

Differences from Standard Accounts

Not applicable as specific details on Islamic accounts are not provided.

How to Apply for Islamic Account

Not applicable as specific details on application processes are not provided.

Restrictions or Special Conditions

Not applicable as specific details on restrictions are not provided.

FAQs – blom bank Account Types & Opening

1. What account types does BLOM Bank offer？

• BLOM Bank offers Current Accounts, Account Plus, Savings Accounts, Fresh Money Accounts, and Oumnyati Accounts.

1. What is the minimum deposit for each account type？

• Current Accounts and Account Plus have no minimum deposit. Savings Accounts require LBP 15 million or USD 10,000.

1. How long does BLOM Bank account verification take？

• Verification typically takes 1-3 business days.

1. Does BLOM Bank offer demo accounts？

• Yes, BLOM Bank offers demo accounts for practice trading.

1. Can I have multiple account types with BLOM Bank？

• Yes, clients can hold multiple account types.

1. Does BLOM Bank offer Islamic/swap-free accounts？

• Specific details on Islamic accounts are not provided in the available data.

1. What documents do I need to open a BLOM Bank account？

• A national ID or passport and proof of residence are required.

1. Can I change my account type after registration？

• Yes, account type changes can be requested through customer service or at a branch.