Paying the bank for storing money
Is it permissible to pay the bank a small amount of money because they are storing money for someone? For example if a bank sometimes takes a small amount of money from the money that someone has stored in the bank, is it then riba?
Assalāmuʿalaykum Wa Raḥmatullāhi Wa Barakātuh
In addition to Fatwaa Ref-No#: 3825, it will be permissible under the circumstances mentioned therewith to pay the bank for storing one’s money and it will not be regarded as interest but rather a fee for a service being provided.