KTT from Non-Clearing/Non-Correspondent Banks — Acceptance, Requirements, Fees & Process

Prominence Bank can receive and credit the KTT transaction from a duly authorized financial institution even if it has no clearing number or correspondent bank, provided the transmission is authenticated and compliant.

Requirements (non-negotiable):

• Authorized remitter: Sender must be a recognized financial institution able to issue authenticated KTT/Telex messages.
• Secure channel: Messages must be transmitted over verifiable interbank rails (KTT/Telex or SWIFT) with proper authentication/traceability.
• Compliance checks: Full AML/CFT, sanctions, and risk screening apply. Unverifiable or non-compliant messages are held or rejected.
• Format policy: We accept all standard KTT verbiage. We do not pre-approve templates or review formats by email.
• Bank-to-bank only: We do not communicate with other financial institutions via email. All interbank requests must be sent via KTT/Telex or SWIFT.

Fees & Balance Rules (KTT):

• 1.5% banking fee applies to received KTT transactions; deducted from the account available balance upon completion.
• Minimum available balance: $/€5,000 (personal) or $/€10,000 (business), excluding fees.
• Once banking coordinates are shared, the account holder is 100% liable for KTT transaction fees.
• SWIFT transfers are recommended when fee-coverage certainty is a concern.
• MT799/MT999 are not required to receive a KTT. If a client requests outbound messaging to the remitter, a €25,000 fee per message applies.

Processing & Posting:

• We credit the KTT transaction strictly according to the remitter’s authenticated instructions after successful authentication and compliance review.
• Timing depends on the remitter’s message quality and any required regulatory reviews; no guarantees are provided on posting time.

Scope & Limitations:

• For security and regulatory reasons, we do not pre-approve or validate third-party formats in advance. The transaction will be accepted and processed as long as it meets international compliance and authenticity standards.
• We do not disclose account transfer coordinates or internal processing details to third parties outside secure interbank channels.

Responsible Team:

Telex & KTT Operations Division — telex@prominencebank.com