In today’s financial landscape, safeguarding valuable assets is essential. Prominence Bank offers a Custodial Bank Safe Keeping Receipt (SKR), a highly secure banking instrument that ensures your assets are protected while providing potential financial leverage. An SKR from Prominence Bank serves as an alternative financial tool for asset holders, enabling them to securely deposit valuables and receive a bank-issued receipt without initially parting with full ownership.
A Custodial Bank Safe Keeping Receipt (SKR) is a document issued by Prominence Bank that acknowledges the custody of valuable assets, such as gold, bonds, property, or collectible items, placed in our secure bank custody. Unlike other financial instruments that require asset transfer, an SKR lets you retain ownership while the bank keeps your assets safe. SKRs are widely recognized for their reliability and security, acting as proof of asset holding and providing a potential financing tool without requiring an immediate sale or transfer of ownership.
Prominence Bank offers SKRs for various types of assets, giving you the flexibility to deposit items of value and receive a secure bank receipt. Some of the asset types eligible for SKR include:
By obtaining a Custodial Bank Safe Keeping Receipt (SKR) for these assets, you ensure their security under Prominence Bank’s protection while maintaining flexible access.
At Prominence Bank, we offer a Custodial Bank Safe Keeping Receipt (SKR) with numerous advantages to help asset holders preserve and optimize their valuables.
Full Security of Assets
Prominence Bank’s custody services provide comprehensive protection against loss, theft, or damage. Our secure facilities and advanced monitoring ensure your assets remain safe.
No Upfront Fee Requirement
With Prominence Bank’s SKR, asset holders benefit from a deferred payment model. The full cost of the SKR issuance can be paid up to six months after the SKR has been issued.
Accessibility to Financial Solutions
Having an SKR with Prominence Bank opens opportunities to utilize your assets as collateral without parting with them. Our SKR can serve as a financial tool to access financing or investment opportunities based on the value of your assets.
Professional Support and Advisory
Prominence Bank provides ongoing support and advisory services. Our team is available to guide you on leveraging your SKR for financial growth and to address any questions related to custody accounts or alternative financing solutions.
Customized Banking and Investment Options
SKR holders gain access to a range of banking and investment services, from Lombard loans to customized financial solutions. Prominence Bank’s team is dedicated to aligning our services with your long-term financial goals.
How to Apply for a Custodial Bank Safe Keeping Receipt (SKR)Applying for a Custodial Bank Safe Keeping Receipt (SKR) with Prominence Bank is a straightforward process designed to ensure maximum convenience and security.
Asset Evaluation and Documentation
Begin by submitting details of the assets you wish to place in custody. Our team will assess the value and security requirements for issuing an SKR.
Sign the SKR Agreement
Upon agreement to the terms, you’ll sign the SKR Consensus with Prominence Bank. This agreement establishes the custody arrangement and outlines all terms, conditions, and fees related to the SKR.
Asset Deposit and SKR Issuance
Once the assets are deposited, Prominence Bank issues the Custodial Bank Safe Keeping Receipt (SKR), confirming the secure custody of your assets.
Payment Terms
Prominence Bank allows payment of the full SKR cost up to six months after issuance, making the SKR an affordable option for asset holders who prefer deferred payment arrangements.
Prominence Bank provides transparent fee structures for SKRs to ensure clarity for all clients.
Initial Setup Fee: €25,000, payable upon signing the SKR agreement and asset deposit.
Annual Fee: 2% of the asset value, with the first payment due six months post-SKR issuance.
Our fee structure is designed to support the needs of asset holders who require long-term security and cost-effective custody options.
A Custodial Bank Safe Keeping Receipt (SKR) from Prominence Bank offers an effective solution to protect and leverage your valuable assets without relinquishing ownership. Contact Prominence Bank today to discuss your needs and discover how an SKR can benefit your financial strategy.
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Your Assets can be deposited now and then order a Safe Keeping Receipt with bank’s full responsibility without prior payment of any fee in advance.
The full cost can be paid after six months after the SKR has been Issue!!!
To know about all the conditions, Ask the Authorized Bank Agent or any Bank Officer.
This is another bank instrument which could be used as an alternative financial tool. Below are instruments that can be issued by banks:
Various Forms of Monetizable SKR:
The SKR is not owned by those who Issue it, therefore when it is requested for, it should be returned. Perhaps, you own a valuable item, you can collect an SKR against it. Therefore, it’s a way of providing alternative financing to those that need it most, through collateral based banking instrument. They are similar to the BG, Bonds, LC and SBLC. Though some need to use MT 542, but SWIFT is utilized at the transfer service.
Therefore, SKR is regarded as one of the most secured banking instruments, this is because you are not required to give up your assets. So you don’t need to be bother.
What are The Opening Fees Requirements for Custody Account?
To grasp more information about how SKR could be of assistance to your financial future, contact us. .
Is your organization or company an account holder with Prominence Bank? If No, it’s paramount for you to be an account holder, only then, can you open a Corporate Account or you can contact a customer advisor for an appointment please!
Download Application for Personal Custody Account here!Download Application for Business Custody Account here!
Download The Custodial Agreement Here!
Download The Safe Keeping Receipt Draft Here!
+44 20 8895 6493
helpdesk@prominencebank.com