Prominence Bank does not support transactions involving illegal activities, unverified counterparties, or any activity that violates international regulations. All transactions must comply with our compliance and regulatory standards.

Yes, Prominence Bank allows clients to manage multiple accounts, including personal and corporate accounts, under a single client profile.

Yes. You can receive funds in different currencies into your Prominence Bank account. Please note, however, that exchange and conversion fees may apply. For example, KTT transactions requiring currency conversion are subject to a 0.4% conversion fee.

While multi-currency deposits are accepted, we recommend using your account’s designated currency whenever possible to avoid additional charges and ensure a smoother, more efficient transaction process.

For any inquiries or assistance, please contact our Help Desk at helpdesk@prominencebank.com. Our team is available 24/7 to respond to your questions. Kindly submit your queries in writing, and they will be addressed promptly.

Please note that, for security reasons, Prominence Bank does not provide customer service by telephone. Using our certified email channel ensures that you receive accurate, verified responses and maintains a secure record of all communications, enabling us to continuously enhance our service quality.

We look forward to assisting you.

Thank you for your interest in visiting our head office. As a fully digital bank, Prominence Bank operates exclusively online to provide our clients with efficient, secure, and convenient banking services. We do not maintain physical branch locations for customer visits or appointments.

Our primary customer support channel is our 24/7 Help Desk email service. For any inquiries or assistance, please contact us at helpdesk@prominencebank.com, and our dedicated team will respond promptly.

Please note that our account opening process is conducted entirely online, ensuring a streamlined and expedited onboarding experience for all clients.

We appreciate your understanding and cooperation as we continue to deliver seamless digital banking services. Should you require further information or assistance, please reach out to us via our Help Desk email.

Thank you for choosing Prominence Bank.

Prominence Bank focuses on banking services rather than direct investment management. However, we can facilitate financial instruments for investment purposes or work alongside your investment advisors.

Yes, Prominence Bank specializes in international transactions and can facilitate cross-border payments, KTT wire transfers, and the issuance of financial instruments globally.

Yes, Prominence Bank provides financial instruments such as SBLCs, BGs, and documentary letters of credit (DLCs) that can be used for project funding and securing financing agreements.

No. Prominence Bank does not initiate or participate in phone calls or Zoom meetings regarding KTT (Key Tested Telex) transfers. This policy ensures the highest levels of security, prevents potential fraud, and maintains a clear, auditable communication trail.

If the sending bank requires verification or formal coordination, they must submit their request via official KTT message, bank-to-bank, in accordance with international banking standards. This is the only accepted method for initiating or confirming KTT-related procedures with Prominence Bank.

Our listed +44 telephone number connects to our international 24/7 service center, designed to support clients across all regions. While Prominence Bank operates under the sovereign jurisdiction of the Diplomatic Jurisdiction – ETMO, we maintain multiple global communication channels to ensure seamless service. All official transactions, agreements, and regulatory obligations are conducted exclusively under the authority of Prominence Bank’s Diplomatic Jurisdiction – ETMO banking charter.

1. What are cookies and why does Prominence Bank use them?

Cookies are small text files stored on your device when you visit websites. Prominence Bank uses cookies to ensure secure access, enhance user experience, and improve website performance and compliance with applicable regulations.

2. Are cookies mandatory to use the Prominence Bank website?

Strictly necessary cookies are essential for secure navigation and access to account services. You may disable non-essential cookies, but doing so may limit certain functionalities or performance features of the website.

3. What types of cookies does Prominence Bank use?

We use:

• Strictly Necessary Cookies for secure access and functionality.

• Performance Cookies to analyze website traffic.

• Functionality Cookies to remember user preferences.

• No advertising cookies are used.

4. Does Prominence Bank use third-party cookies?

Yes, but only for analytics purposes. Services like Google Analytics may place cookies to collect anonymous usage data. We do not use third-party cookies for advertising or marketing.

5. How can I control or disable cookies?

You can manage your cookie preferences through your browser settings. Most modern browsers allow you to block or delete cookies at any time.

6. Do cookies collect my personal banking data?

No. Cookies used by Prominence Bank do not store sensitive financial or account information. They are used solely for security, navigation, and performance optimization.

7. Will disabling cookies affect my online banking experience?

Yes. Disabling essential cookies may prevent you from logging in or using secure features of our online banking system. We recommend keeping strictly necessary cookies enabled.

8. How long do cookies remain on my device?

Some cookies are session-based and are deleted when you close your browser. Others may remain for a limited duration unless manually cleared through your browser settings.

9. Is my cookie data shared with anyone?

Cookie data is never sold or disclosed for marketing. Any data collected via third-party analytics tools is anonymized and used solely to improve website performance.

10. Where can I find more details?

For full information, please refer to our Cookie Policy and Privacy Policy, or contact our Data Protection Officer at helpdesk@prominencebank.com

Prominence Bank accepts all types of financial transactions, including all forms of KTT (Key Tested Telex), from any financial institution worldwide. We do not restrict or block any sender bank, Telex code, jurisdiction, or transaction format. Additionally, we support and accept all procedures our clients may require for the successful execution of their transactions.

Please note that Prominence Bank does not communicate with other financial institutions to initiate a KTT transaction or any type of transaction. As we accept all transaction types and all procedures, you only need to initiate your KTT transfer by following the instructions available in your Online Banking portal, under the ‘Funds Transfer’ section.

In accordance with our banking policies, bank-to-bank or bank-officer-to-bank communication is strictly prohibited. We do not intervene in transactions or negotiations between account holders and their remitters. Furthermore, we do not conduct calls, exchange emails, or coordinate transactions with other financial institutions regarding transfers initiated outside of Prominence Bank.

You may proceed with full confidence knowing that Prominence Bank maintains an open, secure, and policy-compliant environment for all client-directed transactions.

Yes. Prominence Bank accepts all types of KTT transactions and provides comprehensive KTT services to all account holders. There is no need to be concerned whether the originating system is analog or digital.

If you wish to receive a funds transfer or communicate with another bank via the KTT system, simply provide the required information to Prominence Bank. Our dedicated department will manage the KTT request and ensure it is transmitted to the intended recipient.

Our KTT capabilities include:

• Cash transfers

• Bank instruments

• Direct bank-to-bank communications

We are committed to offering our clients flexible and reliable options to meet their banking needs.

We are pleased to inform you that Prominence Bank’s services are available worldwide, with no country restrictions. This allows us to serve clients across various regions, including the USA and Europe, without limitations.

Yes. Prominence Bank offers a secure mobile banking application that allows you to conveniently manage your accounts and send funds directly from your smartphone.

With our mobile banking app, you can:

• View and manage all your accounts in one place

• Transfer funds between your accounts

• Make domestic and international payments and transfers

• Update your personal details securely

• Track and categorize your expenses

• Manage regular payments and standing orders

• Send money to friends and family quickly and securely

Download the Prominence Bank mobile app today to stay in control of your finances—anytime, anywhere.

Prominence Bank does not provide debit cards, including Visa or MasterCard. All account access and transactions can be conducted through our secure 24/7 internet banking platform, which offers a comprehensive range of banking services at your convenience.

Yes, Prominence Bank provides escrow services to our account holders only, to ensure secure and transparent transactions between parties. These services are tailored for high-value transactions where financial trust is critical.

Yes. Prominence Bank will refund any fees related to failed or undelivered services. All refund requests are reviewed by the compliance department, and refunds are issued promptly when justified.

No, Prominence Bank does not offer the ability to buy or sell cryptocurrencies. We only facilitate the conversion of cryptocurrencies into fiat currencies once they have been deposited into your account.

Yes, Prominence Bank offers account management tools that allow clients to monitor transactions, access statements, and manage their accounts securely online.

Yes, Prominence Bank specializes in issuing Standby Letters of Credit (SBLCs) and Bank Guarantees (BGs). These financial instruments are used to facilitate international trade, secure transactions, and provide financial assurance to counterparties.

Clients can access their accounts via the online banking platform or mobile app, which provides 24/7 secure banking services.

How to Open a Bank Account with Prominence Bank

1. Complete the Online Application Form:

   Choose the appropriate application type:

   🔹 Open a Personal Bank Account

   🔹 Open a Business Bank Account

2. Pay the Account Opening Fee:

   Submit the non-refundable €25,000 account opening fee via SWIFT wire transfer or cryptocurrency (USDT). Please note: KTT transfers cannot be used to pay this fee.

3. Alternative – Downloadable Application:

   If you encounter any difficulties with the online form, you may download the application:

   🔹 Download Personal Bank Account Application here!

4. 🔹 Download the Business Bank Account Application here!

5. Submit Your Application:

   Send the completed application along with proof of payment to helpdesk@prominencebank.com.

How to Open a KTT Bank Account with Prominence Bank

1. Select the Appropriate Application Form:

   🔹 Open a Personal Bank Account

   🔹 Open a Business Bank Account

2. Complete the Application:

   Fill out the selected Personal or Business Bank Account Application accurately and in full.

3. Pay the Account Opening Fee:

   Submit the non-refundable €25,000 account opening fee via SWIFT wire transfer or cryptocurrency (USDT). Please note: KTT transfers cannot be used to pay this fee.

4. Enable KTT Transfers:

   Once your account is opened, you may request KTT transfer capability. Activation typically takes 24 hours and is provided at no additional cost.

5. Begin Transactions:

   Your account will be ready for transactions within 72 business hours after payment confirmation.

To open an account, submit an online application form and pay the required account opening fee of €25,000 via SWIFT transfer or cryptocurrency (USDT). Accounts typically activate within 72 business hours after payment verification. A minimum balance must be maintained as outlined in your account terms.

Prominence Bank operates under Foreign Jurisdiction License No. 05052025-A (Diplomatic Jurisdiction – ETMO). For official verification, use your PIN on our site or email verify@prominencebank.com. We do not publish sensitive licensing documents publicly; please rely on our official channels for confirmation. 

Locating Your Wire Transfer Instructions

Within your online banking portal, there is a dedicated section containing the information required to receive wire transfers, including KTT (Telex) transfers. This section typically includes:

• Bank Name:

• Bank Address:

• Account Number: (Insert your bank account number)

• Account Name: (Insert the account holder name)

• KTT Telex Code:

• Bank Officer:

• Bank Officer PIN Code:

• Bank Email:

• Bank Telephone:

Please ensure you provide the complete and accurate details from this section to the sender or remitter to avoid delays in processing your incoming funds.

Submit an online application form and pay the required €25,000 account opening fee via SWIFT or cryptocurrency (USDT). Accounts typically activate within 72 business hours. A minimum balance as outlined in your account terms must be maintained.

Prominence Bank adheres to strict international banking regulations, including AML, KYC, and counter-terrorism financing standards. All transactions and accounts are subject to thorough compliance checks to ensure legal and regulatory adherence.

No. Prominence Bank does not offer joint account services. Each account is registered to a single holder.

Yes, Key Tested Telex (KTT) is automatically enabled upon account activation at no extra cost. Prominence Bank credits KTT transactions received from sending banks without pre-verifying transaction details. Clients must ensure sufficient balance to cover associated fees.

Yes. Prominence Bank remains fully operational and is licensed under Foreign Jurisdiction License No. 05052025-A, issued by the Diplomatic Jurisdiction – ETMO. Claims of liquidation or shutdown are untrue. For official updates, always consult our website or contact us directly.

1. What type of personal data does Prominence Bank collect?

We collect only the data necessary to provide secure and compliant banking services. This includes your identification details, contact information, financial and transactional data, as well as communications with our institution.

2. Why does Prominence Bank collect my personal information?

We collect your information to open and manage accounts, process transactions, meet regulatory obligations, enhance our services, and maintain secure communications with you.

3. Does Prominence Bank share my personal data with third parties?

We do not sell or disclose your data to third parties for marketing purposes. We only share data with regulatory authorities, legal entities, and authorized service providers, and only under strict confidentiality agreements and legal requirements.

4. How does Prominence Bank protect my data?

Your data is protected through industry-standard encryption, strict access controls, regular monitoring, and secure infrastructure. We adhere to international data security protocols to maintain confidentiality and integrity.

5. Where is my data stored and processed?

Data may be processed in our primary jurisdiction and other international jurisdictions as required for service delivery. All transfers are handled with strong data protection safeguards in accordance with applicable legal frameworks.

6. Can I access or update my personal data?

Yes. You have the right to access, update, or correct your personal data. Please submit a formal request to our compliance team via email at helpdesk@prominencebank.com.

7. How long does Prominence Bank retain my data?

We retain personal data only for as long as necessary to fulfill contractual, regulatory, and operational obligations. Retention periods may vary depending on applicable laws and banking compliance requirements.

8. Can I request that my data be deleted?

In certain circumstances, you may request deletion of your data. However, due to legal, regulatory, and financial compliance obligations, certain records must be retained as mandated by law.

9. Does the Privacy Policy apply to website visitors as well as clients?

Yes. This policy applies to all individuals who interact with our website and services, whether or not they maintain a formal banking relationship with Prominence Bank.

10. Is Prominence Bank compliant with international data protection laws?

Yes. Prominence Bank adheres to globally recognized data privacy standards and frameworks, including the principles of confidentiality, necessity, proportionality, and consent-based processing.

11. How will I know if the Privacy Policy has changed?

We post all updates on our website with a revised “Last Updated” date. We encourage you to review the Privacy Policy periodically to remain informed of how your data is protected.

12. Who do I contact for privacy-related inquiries?

For any questions or concerns regarding your personal data, please contact:

Data Protection Officer

Prominence Bank

Email: helpdesk@prominencebank.com

Phone: +44 20 8895 6493

Address:

Prominence Bank

Foreign Jurisdiction License No. 05052025-A

ETMO Diplomatic Jurisdiction

Prominence Bank offers expertise in handling high-value and complex transactions, ensuring speed, security, and reliability. Clients benefit from dedicated support, tailored solutions, and access to international banking networks.

Prominence Bank supports transactions in multiple currencies, allowing clients to conduct business globally. Please contact us for a complete list of supported currencies.

For opening a personal account, only a passport is required. To open a business account, both a passport and company incorporation documents are necessary.

Prominence Bank charges standard fees such as the €25,000 account opening fee, monthly maintenance fees, and transaction fees (e.g., 1.5% for KTT). Fees for failed or undelivered services are refundable upon review by the compliance department.

Prominence Bank applies standard fees, including account opening fees (€25,000), monthly maintenance fees, and transaction fees (e.g., 1.5% for KTT transfers). A full, transparent fee schedule is available on our official website.

Prominence Bank serves a variety of industries, including trade and commerce, real estate, energy, manufacturing, and finance. Our services are tailored to meet the needs of corporations, entrepreneurs, and institutional clients.

Prominence Bank – Cryptocurrency Accounts

Cryptocurrency is a digital form of currency that uses cryptography to secure transactions and create new coins. It can be viewed as a digital equivalent of traditional currencies such as the US Dollar or the Euro. Bitcoin, introduced in 2009, was the first cryptocurrency, and since then, hundreds of alternative cryptocurrencies—commonly known as “altcoins”—have emerged.

Prominence Bank offers cryptocurrency accounts designed to help you manage and safeguard your digital assets with ease, security, and privacy.

Account Features:

• Cryptocurrency Wallet: Fund your wallet and transfer between your cryptocurrency account and your regular bank account.

• Secure Transactions: All transfers are conducted securely and confidentially.

• Multi-Currency Support: Move funds between your cryptocurrency and Prominence Bank accounts in USD, GBP, EUR, and more.

• User-Friendly: Simple and efficient account opening and management process.

Benefits of a Prominence Bank Cryptocurrency Account:

• Tax Haven Banking Secrecy: Maximum privacy and security in a protected jurisdiction.

• Full Control: You retain complete control over your account.

• No References Required: No need for bank references or personal visits.

• Low Maintenance Costs: Minimal fees and no monthly maintenance charges.

• Swift Transactions: Instant capability to send and receive SWIFT wire transfers.

Opening Fees and Requirements:

• Opening Fee: €25,000 per cryptocurrency account

• Minimum Balance: Equivalent of USD 100 in cryptocurrency

• Monthly Charge: None

• Processing Time: 7 banking days from receipt of opening fee

Account Opening Procedure:

1. Complete the application form accurately.

2. Email the completed form to account@prominencebank.com.

3. Send the opening fee deposit.

4. Your account will be activated within 7 banking days.

Prominence Bank is a fully digital international bank operating exclusively online. It is licensed under the sovereign jurisdiction of the Diplomatic Jurisdiction – ETMO and provides secure, private banking services to corporations, entrepreneurs, and high-net-worth individuals around the world.

Prominence Bank credits incoming KTT transactions directly to your account once received from the sender’s bank. The bank does not pre-verify amounts or details and will only credit transactions fully compliant with internal compliance procedures, including fee availability.

Prominence Bank operates under a Class ‘A’ Banking License (License No. 05052025-A), issued by the Diplomatic Jurisdiction – ETMO. This license authorizes Prominence Bank to provide a full spectrum of international banking services under the sovereign authority of the Theocracy Government.

KTT Telex Code: (051) 210567 PROMIN G

Issuing an SBLC involves submitting an application along with the necessary documentation, including details of the transaction, parties involved, and the collateral offered. Once approved, the SBLC is issued to the designated beneficiary through secure banking channels.

We utilize our correspondence bank’s SWIFT code for transfers, which may vary depending on the currency of the transaction (USD or Euros). Please note that this information is accessible exclusively to our account holders and can be found within the internet banking platform under the “Funds Transfer” section.

Prominence Bank offers personal and corporate banking, cryptocurrency accounts, escrow services, structured finance, and issuance of financial instruments such as SBLCs and Bank Guarantees (BGs).

Prominence Bank provides Personal and Business bank accounts, as well as specialized accounts like Cryptocurrency Accounts and Custodial Accounts for financial instruments.

Prominence Bank is a fully licensed digital international bank, operating under ETMO’s sovereign jurisdiction with License No. 05052025-A. We comply with international AML/KYC and banking regulations to provide secure, confidential services—without physical branches.

Both individuals and corporate entities can open accounts with Prominence Bank. However, all applicants must meet compliance requirements, including KYC verification.

Why Choose Prominence Bank for Your Banking Needs?

At Prominence Bank, we offer a unique and unparalleled banking experience designed for clients who prioritize discretion, security, and privacy. Our €25,000 account opening fee reflects the extraordinary measures we take to provide these benefits, ensuring that your financial activities remain confidential and your business transactions are conducted with the utmost professionalism and integrity.

Key Benefits of Opening an Account with Prominence Bank

1.Total Privacy and Confidentiality

Prominence Bank operates under a robust trust structure, performing 100% of all transactions on behalf of our clients. This ensures that your personal or business information is never disclosed to any third party. All incoming and outgoing transfers, as well as other banking operations, are handled by the bank itself, making the account holder completely invisible in all transactions.

2.Incognito Transactions

Every transaction performed under Prominence Bank is conducted with anonymity. Whether you’re making transfers, receiving payments, or managing your assets, your identity and information are fully protected. This unique feature provides peace of mind to our clients, knowing their financial activities are shielded from prying eyes.

3.Global Business Flexibility

Our specialized banking services cater to high-net-worth individuals, global entrepreneurs, and businesses operating across multiple jurisdictions. With Prominence Bank, you gain access to seamless and discreet banking solutions that support your international ventures without compromising your privacy.

4.Exclusive Services for Discerning Clients

The cost of maintaining such a high standard of security and privacy is significant. The €25,000 account opening fee ensures that we can provide you with cutting-edge infrastructure, legal compliance, and operational excellence, delivering a banking experience that exceeds industry standards.

Different banks offer varying services and fee structures. While some may not charge upfront fees, they may offset this with higher transaction costs or minimum balance requirements. At Prominence Bank, our transparent fee structure enables us to deliver the specialized, secure, and confidential banking services our clients rely on.

Benefits of Banking with Prominence Bank:

• Unmatched Confidentiality: All transactions are processed through trust accounts, ensuring the highest level of privacy and discretion.

• Global Reach: Our extensive network of international correspondent banks facilitates seamless worldwide transfers.

• Robust Security: We deploy advanced security technologies to safeguard your assets at every stage.

• Dedicated Support: Our team is committed to providing exceptional service and personalized client care.

Why Does It Cost €25,000 to Open an Account?

The €25,000 is not simply an account opening fee—it is an investment in unparalleled privacy, security, and peace of mind.

1. Enhanced Security Measures

Operating fully private accounts requires specialized infrastructure, advanced security protocols, and strict adherence to international banking regulations. These measures ensure your account remains secure from breaches, unauthorized access, and cyber threats.

2. Trust-Based Transactions

All transactions are executed under the bank’s name, safeguarding your identity and ensuring complete discretion. This level of confidentiality requires dedicated operational resources and a highly trained team to manage accounts with precision and security.

3. Exclusive Access to Privacy-Focused Banking

Prominence Bank caters exclusively to clients who value confidentiality in today’s interconnected world. Maintaining this exclusivity demands ongoing investment in cutting-edge technology and expert personnel.

4. Long-Term Value

The fee grants access to an elite banking network, offering benefits that far exceed the initial investment. From discreet account management to tailored financial strategies, Prominence Bank delivers exceptional value for high-profile and global clients.

Invest in Privacy and Security with Prominence Bank

Opening an account with Prominence Bank means partnering with a trusted institution committed to safeguarding your assets and identity. The €25,000 ensures you receive best-in-class banking services designed for discerning clients who demand the highest standards of confidentiality and excellence.

No. Sharing login credentials is strictly forbidden and constitutes a violation of our security terms.

No. Prominence Bank accounts are individually held and do not permit joint access, signatories, or third-party delegation (including lawyers, accountants, or family members). Each account is accessible only by the registered account holder.

No third parties (whether additional users, joint owners, beneficiaries, attorneys-in-fact, etc.) are allowed access – each account is limited to the single registered holder.

Yes, you can access your account online! Our online banking platform allows you to manage your account conveniently from anywhere with an internet connection.

No. Transaction authority is limited exclusively to the verified account holder.

No. As per Prominence Bank’s Terms and Conditions, which every client accepts automatically by signing and submitting the account application form, accounts cannot be closed once they are activated. The Terms and Conditions are fully visible inside the application form prior to submission and are legally binding. This policy exists due to the significant costs and resources invested in onboarding, compliance, risk management, and maintaining international banking infrastructure.

No. Prominence Bank does not permit clients to initiate account closures independently. All account closures are managed exclusively by our internal administration and compliance teams. This policy ensures compliance with international banking regulations, Anti-Money Laundering (AML), and Know Your Customer (KYC) requirements. Accounts with no activity and a zero or negative balance for 90 consecutive days may be automatically closed by the bank, subject to internal compliance reviews.

No. Accounts cannot be closed by clients; closure is exclusively managed by Prominence Bank’s compliance and administrative departments. Additionally, Prominence Bank does not permit joint accounts or third-party access, ensuring maximum account security and confidentiality.

No. While estate instructions may be reviewed upon official notice, no beneficiary or successor can be registered on an active account.

No. Account access is limited exclusively to the named account holder, in accordance with our compliance policy.

Unfortunately, you cannot access a personal or business account prior to transferring funds and paying the account opening fee. These steps are essential to activate your account.nn

No. Corporate accounts are limited to a single authorized signatory as registered with the bank.

If you experience an issue, you can contact our customer service team to file a formal complaint. Prominence Bank is committed to resolving client concerns promptly and professionally.

To update your account information, contact our customer service team or your relationship manager. Supporting documentation may be required for certain updates, such as changes to address or ownership details.

No. Prominence Bank does not accept powers of attorney for account operation or management.

1. Introduction

Prominence Bank is committed to providing secure and efficient Key Tested Telex (KTT) services to facilitate international financial transactions. This policy outlines the terms, conditions, and procedures governing KTT transactions to ensure compliance, security, and customer satisfaction.

2. Eligibility

The Key Tested Telex Transfer (KTT) service is automatically enabled upon account opening. No additional request or activation is required.

3. Transaction Limits

• Minimum tranche size: €10 million per transaction

• Maximum tranche size: €500 million per transaction

• Frequency: No restrictions on the number of daily tranches

• Note: These limits are non-negotiable and cannot be modified.

4. Fees and Charges

• Incoming KTT transactions: 1.5% fee applies

• Outgoing wire transfers: 1% fee plus SWIFT/SEPA costs

• Note: Prominence Bank does not impose upfront fees; charges apply only after the requested service is completed.

5. Transaction Types

Prominence Bank supports:

• Cash transfers

• Bank instruments

• Direct bank-to-bank communications

This flexibility allows us to accommodate a wide range of client requirements.

6. Client Responsibilities

If you have provided KTT instructions to your remitter, it is your responsibility to fully understand and manage the nature of the transactions being sent to your account. Prominence Bank:

1. Is not involved in agreements, terms, or instructions exchanged between you and your remitter.

2. Will not process or review pending KTT transactions if your account is in delinquent status or not in good standing.

7. KTT Transaction Policy

Prominence Bank will credit your account with whatever is received as per the remitter’s bank instructions. However:

• No guarantees: We do not guarantee the nature or outcome of any transaction initiated by another bank or remitter.

• Non-involvement: We do not participate in, or provide guarantees for, transactions you or your remitter initiate.

• Responsibility: Only you and your remitter can confirm transaction details before they are processed.

8. Security and Compliance

• Verification: Clients are advised to conduct due diligence and, where necessary, consult with our team before initiating KTT transactions.

• Compliance: All transactions must comply with Prominence Bank’s compliance and regulatory requirements.

9. Confidentiality

All incoming and outgoing transactions are processed through Prominence Bank’s trust accounts, ensuring maximum discretion and the protection of account holder information.

10. Amendments

Prominence Bank reserves the right to amend this policy to comply with regulatory changes or enhance service quality. Clients will be notified promptly of any significant updates.

11. Contact Information

For assistance or inquiries regarding KTT transactions, please contact our Help Desk at helpdesk@prominencebank.com. Our team is available 24/7.

Clients can reset their password through the secure online banking portal. In case of further issues, they can contact customer support via email.

If you wish to stop receiving KTT transactions, you may request to block KTT on your account. Any subsequent KTT transactions received on your behalf will be ignored.

Your account has been blocked from receiving further KTT transactions due to its current delinquent status. Please note that Prominence Bank does not process KTT transactions for accounts in delinquent status.

To lift the block, your account must be brought out of delinquency and adequately funded. It is your responsibility to ensure your account maintains sufficient funds if you wish to process KTT transactions.

Yes. Withdrawals are only permitted when the account balance remains above the required minimum thresholds: €5,000 for personal accounts and €10,000 for business accounts. Our system is technically restricted from processing any withdrawal that would cause the balance to fall below these minimums. This ensures that the account remains active and compliant with the Bank’s operational policies.

All accounts are opened directly with Prominence Bank under the sovereign jurisdiction of the Diplomatic Jurisdiction – ETMO. This structure ensures full compliance with our internal regulations and the regulatory framework established by the Diplomatic Jurisdiction of a Theocracy Government.

No. The non-refundable €25,000 account opening fee is mandatory and covers enhanced privacy, security infrastructure, and international services. It cannot be waived or deducted from future transfers.

No. The opening fee must be prepaid via SWIFT or USDT, and cannot be paid via KTT or deducted from future transfers.

No. The minimum balance required in your account is non-transferable and non-withdrawable under any circumstances. This mandatory balance must be maintained at all times and serves as a compliance requirement to keep the account in good standing.

Clients may only withdraw or transfer funds above the minimum balance. The minimum balance itself is not accessible and cannot be used for transactions, payments, or deductions.

Please note that your account will not be activated or enabled until the full minimum balance is deposited and maintained.

1. Choose either our Personal or Business account application online.
   • 🔹 Open a Personal Bank Account
   • 🔹 Open a Business Bank Account
2. Submit the completed application to account@prominencebank.com with proof of payment (SWIFT or USDT).
3. Once the €25,000 opening fee is confirmed, your account will be activated within 72 business hours. KTT capability is automatically enabled upon activation.

1. Complete the Personal or Business application online.
2. Pay the €25,000 non-refundable opening fee via SWIFT or USDT (KTT cannot be used).
3. After payment confirmation, your account is activated within 72 business hours.
4. KTT transfers can be enabled upon request at no additional cost (typically within 24 hours). A minimum balance must be maintained as set out in your account terms. 

Prominence Bank charges a mandatory, non-refundable €25,000 account opening fee for all new accounts. This fee cannot be waived under any circumstances. It covers the costs of the Bank’s enhanced security systems, privacy protections, compliance infrastructure, and specialized banking services designed for high-net-worth clients. These measures ensure a secure, private, and exclusive banking environment that differentiates Prominence Bank from conventional financial institutions. Unlike many banks, Prominence Bank’s model prioritizes bespoke, high-standard service and robust infrastructure, which this one-time opening fee directly supports.

Because Prominence Bank operates under a foreign diplomatic jurisdiction (ETMO), it is not covered by traditional national deposit insurance programs like FDIC (USA) or FSCS (UK). Instead, the safety of your funds comes from the bank’s strong capitalization and strict risk management. Prominence Bank has authorized capital exceeding €5 billion and maintains high reserve ratios to protect depositors. We also employ rigorous compliance and security measures to safeguard client assets. While there isn’t a government insurance backing deposits, the bank’s solvency and commitment to confidentiality and security provide a robust safeguard. Clients seeking additional peace of mind sometimes use private deposit insurance or diversification, but Prominence Bank itself is financially structured to weather risks (and of course, we do not engage in high-risk lending, which further protects deposits). Always consider your own comfort level, but know that protecting client funds is our foremost priority.

Yes – Prominence Bank operates under a sovereign diplomatic jurisdiction (ETMO) and is fully licensed (Foreign Jurisdiction License No. 05052025-A) . Privacy-focused accounts like numbered accounts are compliant within this legal framework. While your identity is shielded from the general public or counterparties, the bank still knows who you are and complies with all necessary KYC/AML regulations behind the scenes. In any international transfer, basic required information is included (via the bank’s trust structure) to satisfy global banking rules, even though your personal details aren’t exposed to recipients. In summary, our privacy services are structured to maintain compliance with law while giving you enhanced confidentiality.

Prominence Bank welcomes international clients from all over the world. We do comply with all international sanctions and regulations, so we cannot open accounts for individuals or entities in sanctioned jurisdictions or those involved in illicit activities . For example, if a country or person is on a UN or OFAC sanctions list, we must decline. Apart from sanctioned cases, our focus is on serving high-net-worth individuals, businesses, and institutions that can meet our account opening requirements (including the €25k fee and due diligence). We do not discriminate by nationality – we have clients across Europe, Asia, the Americas, Africa, etc. – as long as they pass our compliance checks. In summary, unless prohibited by law, we’re open to clients globally, but every applicant must go through our KYC/AML review for approval.

Yes. Prominence Bank’s platform allows clients to manage multiple accounts under a single client profile . For example, you could have a personal account and one or more business/corporate accounts and switch between them online. This unified access makes it convenient to oversee all your accounts in one place (while still keeping the funds and records of each account separate).

Prominence Bank’s niche is in offshore private banking and specialized financial services rather than traditional retail lending. We do not provide personal loans, home mortgages, or consumer credit lines. However, we do offer certain credit-related services in a specialized context – for instance, Lombard loans or credit lines secured by deposits/investments might be arranged for Private Banking clients, and we facilitate financing for trade transactions or projects via instruments and structured finance. Generally speaking, if you need a generic loan, we might not be the right fit, but if you have collateral or require structured financing, our team can often craft a solution. All lending or financing is considered on a case-by-case basis through our corporate finance or structured finance departments rather than off-the-shelf loan products.

Not at this time. Prominence Bank is a fully digital, online-oriented institution focusing on wire transfers, electronic payments, and custody services. We do not currently issue debit or credit cards linked to accounts, nor do we have ATM networks. Clients typically access their funds by transferring money from their Prominence account to an external bank account when they need local spending liquidity. (For example, you could wire funds to your personal bank in your home country and use your regular debit card there.) The bank continually evaluates adding new services, but for now, card services are not offered – this trade-off allows us to concentrate on secure international banking and specialized services (like KTT and trade instruments) without the limitations of retail banking infrastructure.

All deposits and withdrawals are handled via electronic transfers. To deposit, you would typically send a SWIFT wire from another bank into your Prominence Bank account (we provide you the SWIFT/account details for incoming wires). We accept inbound transfers in multiple currencies and even via KTT for large transactions. To withdraw, you initiate an outgoing wire transfer from your Prominence online banking to the external account of your choice (or request a bank draft/cashier’s check if needed for a specific purpose). Because we operate without physical branches, cash deposits or in-person withdrawals aren’t applicable – instead, everything moves through the global banking network electronically. Rest assured, even without branches, you have full access to your money: wires are processed swiftly and you can transfer to any of your local bank accounts worldwide at any time.

When you send a wire from a numbered account, Prominence Bank uses an intermediary client trust account to execute the transfer. This means on the recipient’s end, the payment will show as coming from a Prominence Bank client trust (with a reference number), rather than your personal name . This arrangement complies with international wire requirements (the bank’s name and an account reference are included for transparency), while still keeping your identity confidential to outside parties. Internally, the bank of course logs that you were the initiator of the transfer, but externally your privacy is preserved. The process for you as a user is the same as a normal transfer – you initiate the wire in online banking – and there is no extra hassle, just added anonymity.

All account types require a one-time €25,000 opening fee (except numbered accounts, which have a €50,000 opening fee due to the extra privacy services) . The minimum ongoing balance is $/€5,000 for personal accountsand $/€10,000 for business or corporate accounts (this amount must be kept in the account at all times). Cryptocurrency accounts have a small minimum equivalent (about $100 in crypto) after opening . There may also be monthly maintenance fees for accounts (as outlined in our fee schedule), but there are no monthly fees for numbered accounts specifically beyond the upfront cost. All fees are transparent – Prominence Bank publishes a full schedule on its website and any special account fees (like the numbered account fee) will be clearly communicated before you apply.

A Numbered Bank Account is a special type of account that provides an extra layer of confidentiality. Instead of your name, the account is primarily identified by a multi-digit number known only to you and a few senior bank officers . When you perform transactions from a numbered account, the account number (or an internal trust account name) appears as the sender, rather than your personal name . This offers enhanced privacy, protecting your identity in external transfers. Key benefits include: non-traceable outbound transfers, very strong banking secrecy (useful in tax planning within legal bounds), and protection of assets from prying eyes – for instance, your assets in a numbered account are shielded from public view, which can be advantageous in situations like high-profile transactions or contentious legal matters (e.g. divorces or lawsuits) . Numbered accounts are fully legal and compliant; they simply add confidentiality by using the bank’s omnibus structures for outward payments.

Business Banking accounts are tailored for small-to-medium enterprises and entrepreneurs, providing everyday multi-currency banking, 24/7 online access, and standard SWIFT wire capabilities . Corporate Banking accounts are designed for larger companies or complex organizations – they support more sophisticated needs like consolidated account structures, multiple user logins with role-based approvals, and dedicated onboarding support for international operations . In short, business accounts cover basic company needs, while corporate accounts handle advanced requirements for large or multinational firms.

Any Prominence Bank client in good standing can request to open a numbered account (the bank does reserve the right to vet or refuse applicants, but there’s no special “invite-only” restriction) . The requirements are similar to a regular account in terms of KYC documents – for an individual, a notarized passport is needed; for a company, incorporation documents and passports for the signatory are required . Notably, no bank references are needed to open a numbered account , and no personal visit is necessary (the process can be completed 100% online, as with our standard accounts). Keep in mind that a €50,000 account opening fee applies to numbered accounts , and you must maintain at least the standard minimum balance. Once opened, your numbered account is operated through our internet banking just like any other account – with 24/7 access and full functionality 

No, there are no limits on wire transfers for SWIFT, SEPA, and cryptocurrency transactions. You can send and receive funds without restrictions on the amounts, allowing for flexibility in managing your larger financial transactions.

nHowever, for KTT (Telex) wire transfers, there are specific limits in place:

– Minimum Tranche Size: 10 million
– Maximum Tranche Size: 500 million per tranchen

nAdditionally, there are no restrictions on the number of tranches you can initiate on a daily basis. Please note that these face value minimum and maximum tranches are non-negotiable and cannot be modified.

Prominence Bank – Loan Application with Safe Keeping Receipt (SKR)

Yes, you may apply for a loan using a Safe Keeping Receipt (SKR) issued by Prominence Bank. An SKR serves as valuable collateral, enhancing the likelihood of securing financing.

Key Considerations:

• Separate Services: Asset custody and loan provision are distinct services. Custody of your assets must be established before the loan application process can proceed.

• Performance Bond Insurance Policy: We strongly recommend obtaining a performance bond insurance policy, as it substantially improves loan approval prospects. When combined with your SKR and “Full Bank Responsibility,” this collateral is widely recognized by financial institutions.

• Loan Approval: The presence of an SKR is an important factor; however, final approval is determined by Prominence Bank’s Credit Department. The SKR agreement does not in itself guarantee loan approval.

Loan Procedure:

1. Open a Custodian Account: This account will hold your pledged assets.

2. Deposit Assets: Assets must be deposited with the bank.

3. Asset Evaluation: An approved bank appraiser will assess the market value of your assets.

4. Loan-to-Value (LTV) Ratio: Based on asset valuation, loan amounts typically range between 20% and 65% of appraised value.

5. Performance Bond Insurance Policy: Following asset evaluation and pre-approval, a performance bond insurance policy will be required.

6. Loan Disbursement: Once all conditions are met, loan funds will be disbursed within 72 business hours.

Important Notes:

• Asset Valuation Impact: Higher asset valuations improve loan approval chances and allow for more favorable terms.

• Client Responsibility for Costs: All expenses related to custody, insurance, appraisal, and related services are the responsibility of the applicant.

Cost Structure:

• Custodian Account: €25,000 upon application, plus 2% of the SKR face value (payable within six months or at loan disbursement).

• Asset Deposit: No charge.

• Asset Appraisal: Fees payable directly to the approved appraiser.

• Loan Application: No application fee.

• Performance Bond Insurance: Typically 0.05% to 2% of the insured value (recommended providers include Lloyd’s of London).

Yes. You may fund your account with USDT or BTC. Prominence Bank will convert your deposited cryptocurrency into your account’s currency (e.g., USD, EUR). We do not offer crypto trading services—we only process deposits and fiat conversion.

Yes. We accept deposits in multiple currencies; standard exchange/conversion fees apply (see the Fee Schedule). Using your account’s designated currency minimizes conversion costs. 

Absolutely. Prominence Bank provides a comprehensive and versatile banking platform, enabling you to receive funds seamlessly via KTT Telex—a secure and efficient method for transferring large sums.

Once credited to your account, you have the flexibility to make payments to banks worldwide through wire transfers using IBAN or SWIFT. This global payment capability ensures you can manage and distribute your funds with ease and efficiency, whether for personal or business purposes.

Yes, after depositing cryptocurrency into your account, you can withdraw funds in USD or Euro, depending on your account’s currency settings.

While Prominence Bank primarily focuses on corporate and institutional clients, personal banking services may be available depending on your financial needs. Please contact us for more details.

No, we do not offer POS services at this time.

Yes. Prominence Bank accepts all KTT transactions regardless of the format or verbiage, provided they are transmitted through standard international banking channels.

Each remitter follows its own compliance and messaging format, and we credit the KTT transaction exactly as it is received, subject to completion of our compliance and verification procedures.

Yes. We accept USDT (TRC-20) and BTC deposits and convert them into your account’s fiat currency after compliance checks. We do not offer trading services. Fees for conversion/network may apply (see Fee Schedule). 

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

Yes. Upon request, Prominence Bank can issue a Readiness, Willingness & Ability (RWA) confirmation for existing clients whose accounts are active and in good standing, subject to full verification and internal due diligence. RWA confirmations are delivered via SWIFT or KTT, and—when applicable—may also be displayed through our Document Verification Portal on our website for third-party validation. Fees apply; please refer to our Fees Table in the website’s Fees section for current charges related to RWA, bank comfort letters, or similar confirmations.

Please note: an RWA is not required by Prominence Bank to receive an incoming KTT. We will credit the KTT transaction exactly as received from the remitting bank once our compliance checks are complete.

If your counterparty requires an Irrevocable Payment Guarantee (IPG) or other binding bank instrument (e.g., SBLC/BG/LC/MT760), this is available only under a separate application, with collateral and instrument-specific fees, and remains subject to full due diligence and approval.

Clients must maintain the required minimum available balance and coverage for the 1.5% KTT fee.

After your KTT transaction is credited and verified, the balance becomes part of your regular account holdings. You can send outgoing transfers through SWIFT directly from your Internet Banking portal, following standard compliance and authorization steps.

Prominence Bank does not convert or modify the KTT transaction itself — the credited value remains as received from your remitting institution.

For assistance or transaction support, contact the Accounts & Compliance Department at account@prominencebank.com.

Please note that Prominence Bank does not accept SKRs issued by external storage facilities. To proceed with any transaction, the assets must be deposited with Prominence Bank. Upon deposit, an SKR will be issued directly by our bank, ensuring full bank responsibility and validity for monetization purposes.

Prominence Bank – Bank Endorsement Guarantee

A bank endorsement is a form of guarantee provided by a bank, commonly used for negotiable instruments such as banker’s acceptances or time drafts. It assures all parties in a transaction that the bank stands behind its customer, fostering trust, credibility, and transactional security.

How It Works:

• Bank as Intermediary: Prominence Bank vouches for the trustworthiness and creditworthiness of its customer, making transactions smoother and more secure.

• International Trade Support: Widely used in cross-border commerce, bank endorsements help establish trust between parties who may not have prior dealings.

Our Offering:

Prominence Bank provides a formal bank endorsement guarantee, confirming that we will uphold and guarantee an agreement or commitment made by our customer to a third party. This assurance gives your partners the confidence that Prominence Bank will step in if obligations are not fulfilled.

Benefits of a Prominence Bank Endorsement:

• Full Endorsement: Applicable to agreements, projects, and negotiable instruments.

• Increased Trust: Strengthens your negotiating position and facilitates deal closure.

• Enhanced Reputation: Our name and credibility reinforce your standing in the marketplace.

• Global Reach: Supports both domestic and international transactions.

• Comprehensive Coverage: Includes banker’s acceptances and time drafts.

• Opportunity Creation: Opens doors to new business relationships and ventures.

Prominence Bank offers a broad range of services, including personal and corporate banking, KTT account transfers, SBLCs and Bank Guarantees, escrow services, cryptocurrency accounts, structured finance, corporate finance, private banking, trade finance, and investment banking solutions.

Prominence Bank’s crypto accounts are meant for facilitating legitimate investment and transfer purposes. There are a few points to note: (1) We currently support the major cryptocurrencies (e.g., BTC, ETH, USDT); other altcoins may not be available unless converted into one of the supported coins first. (2) KTT transfers cannot be used to pay crypto account fees – meaning, for example, you couldn’t fund the initial €25k via a crypto transfer without conversion; it has to be SWIFT or USDT as specified . (3) We require that crypto coming in or out goes through our compliance checks – so if you’re withdrawing a large sum in crypto, we might ask for clarification to ensure it’s going to a wallet you control (to prevent errors or fraud). (4) There are daily limits in place for very large crypto transfers for security (internally, we might break transfers into tranches). But generally, unless you’re attempting something extraordinary, you’ll find our crypto accounts quite flexible. We do not impose small rigid caps – we have clients moving seven-figure amounts in crypto seamlessly. As always, all transactions must comply with any relevant regulations (for example, we wouldn’t allow transfers to sanctioned addresses or proceeds from illicit activities, just as with fiat).

Prominence Bank supports crypto → fiat conversions only. If you deposit supported cryptocurrencies (e.g., BTC, ETH, USDT), you may instruct us to convert a chosen amount to EUR/USD and credit your regular account balance. We do not sell cryptocurrency and do not execute fiat → crypto purchases. Conversions are processed at prevailing market rates and may include a commission or spread; network fees may apply to crypto movements. All requests remain subject to compliance review and standard security checks.

Our crypto account is primarily for storage, transfers, and conversion of established cryptocurrencies. We are not an investment advisor or broker for crypto projects or ICOs. However, by having a crypto account with us, you have the liquidity and ability to deploy funds into crypto quickly. For instance, you could convert some of your holdings to crypto and then send BTC or USDT to participate in an external investment (assuming you handle that part). We do due diligence on large outgoing crypto transfers just to ensure they aren’t scams – for your protection – but we don’t stop clients from making legitimate investments. We don’t offer ICO underwriting or token custody beyond the major coins. If you are interested in emerging crypto investments, our role would be to provide a secure base to move funds in and out of those investments. Also, our team stays updated on digital asset trends, so while we don’t give specific investment advice, we can share general insights or connect you with trusted partners (for example, an exchange or fund we have vetted). In sum, we’re a gateway and safehold for crypto, not a trading platform or investment manager for speculative tokens.

The bank holds the private keys on your behalf, as part of our custodial service. This is by design – it relieves you of the burden of key management and leverages our security framework. It’s similar to how we hold fiat: you don’t personally shuffle cash in a vault; we maintain it electronically for you. Likewise, with crypto, we keep the keys in secure custody. When you want to send crypto out or receive crypto in, those transactions are executed through our systems at your instruction. Some very technically-inclined clients ask if we support external wallet connectivity – at this time, we do not provide something like a MetaMask integration; all movements go through our secure portal. The upside is you benefit from insured custody and risk mitigation. If, for any reason, there were a security breach on the bank’s side (which we have never had), the bank is responsible for the loss, not you – unlike personal crypto wallets where if you lose a key, it’s gone forever. So, entrusting the private keys to us is part of the service that we offer to safeguard your digital assets.

Yes, Prominence Bank recognizes the importance of digital assets and offers Cryptocurrency Accounts to clients . A cryptocurrency account allows you to securely store and manage your crypto holdings through our bank. You can fund your crypto wallet with popular cryptocurrencies and seamlessly transfer value between your crypto account and your regular bank account . In essence, this bridges the crypto world and traditional banking: you could deposit Bitcoin or USDT with us, and then convert it to EUR or USD in your bank account (or vice versa). All crypto transactions are handled with bank-grade security and utmost confidentiality, leveraging our tax-haven jurisdiction for privacy benefits . We currently focus on major cryptocurrencies – for example, Bitcoin, Ethereum, and USDT (Tether) are supported for account funding and fee payments (the €25k opening fee can even be paid in USDT) . Our crypto accounts are custody accounts, meaning the bank safeguards the private keys and coins for you, so you don’t have to worry about managing hardware wallets – you access your balance through our online portal just like any other account.

Opening a crypto account with Prominence Bank is similar to opening any other account. You’ll need to go through our application process (providing KYC documents – passport, etc., the same as for a fiat account). The one-time account opening fee is €25,000, just like our standard account fee . Once open, the minimum balancerequirement for a crypto account is very low – only about $100 (in crypto) needs to remain in the account . There aren’t monthly fees specific to crypto accounts beyond what normal accounts have. After activation, we’ll provide you with wallet addresses or instructions to deposit cryptocurrency. One important note: you cannot use incoming crypto to waive the opening fee – the fee must be paid upfront (via SWIFT or USDT) to activate the account . But after that, you can freely move crypto in and out. Essentially, the cost is the same entry fee as our other services, and then it operates as a secure crypto custody service under our bank.

Extremely secure. Prominence Bank uses institutional-grade crypto custody solutions to protect your digital assets. Private keys are stored in secure hardware modules (with multi-signature authorization, meaning no single person can move funds). We treat crypto deposits with the same level of security as large fiat deposits – including layered authentication for access, continuous monitoring, and insurance coverage where applicable. Moreover, because your crypto account is within a bank, it benefits from the same privacy and confidentiality as any other account . There’s also a convenience factor: since no personal wallet management is needed, you avoid risks like losing a seed phrase. In summary, storing crypto with Prominence Bank is as safe as it gets – you have the upside of crypto, and the peace of mind of a private bank’s vault around it.

Yes. Outgoing international wire transfers usually have a fee, typically around 1% plus SWIFT costs. Incoming KTT transactions incur a 1.5% fee.

Cancellation policies depend on the type of transaction. Some transactions, especially those involving third-party financial instruments, cannot be reversed once initiated. Please contact our team for more details.

No. The non-refundable €25,000 account opening fee is mandatory and covers enhanced privacy, security infrastructure, and international services. It cannot be waived or deducted from future transfers.

While we recognize the importance of transparency in financial transactions, please be advised that fees incurred from KTT transactions are strictly non-refundable in accordance with Prominence Bank’s policies.

We kindly request that clients refrain from submitting refund requests for services already rendered, regardless of any issues involving their remitter, as such requests are not consistent with our banking policy.

Prominence Bank does not impose upfront fees; charges apply only after a specific service has been completed. When a KTT transaction—of any type—is credited to your account, the applicable fees will be assessed. By authorizing your account to receive KTT transactions, you acknowledge and accept full responsibility for all incoming transactions and the associated charges.

No. The opening fee must be prepaid via SWIFT or USDT, and cannot be paid via KTT or deducted from future transfers.

No, you cannot open an account without paying the bank account opening fee upfront. The bank account opening fee must be prepaid before you can gain access to a bank account with Prominence Bank. Unfortunately, you will not be able to use your first funds transfer to cover the bank account opening fee. Please ensure that you have the appropriate amount to cover this fee before initiating the account opening process.

1. Complete the Personal or Business application online.
2. Pay the €25,000 non-refundable opening fee via SWIFT or USDT (KTT cannot be used).
3. After payment confirmation, your account is activated within 72 business hours.
4. KTT transfers can be enabled upon request at no additional cost (typically within 24 hours). A minimum balance must be maintained as set out in your account terms. 

The processing time for transactions depends on the type of transaction and its complexity. Standard wire transfers typically take 1–4 business days, while larger or specialized transactions may require additional time for compliance and verification.

No. While the application fee is listed as non-refundable, it is important to note that Prominence Bank maintains a 100% account opening success rate provided all submitted documentation is complete, accurate, and legally compliant. As long as these conditions are met, your account will be successfully opened. Therefore, your fee is not at risk if the application is properly prepared.

Yes. Key Tested Telex (KTT) functionality is automatically enabled upon account opening at no extra cost. KTT allows secure and rapid high-value international bank transfers. Clients must ensure sufficient balance to cover transaction fees.

No. The remitting bank is solely responsible for originating, formatting, and transmitting the KTT.

Prominence Bank acts exclusively as the receiving institution and processes the KTT strictly as received from the remitter, without alteration or guarantee of its content.

We want to inform you that any funds received through the Crypto Currency channel will incur a 2% network fee if the account holder does not have a cryptocurrency account. This fee will be deducted from the total amount received, and the remaining funds will be credited as cash into your savings account’s available balance.

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

Yes. Clients must maintain a sufficient available balance to cover the 1.5% fee once the KTT is credited.

Minimum available balances must also be maintained at all times:

• Personal Accounts: $/€ 5,000 minimum
• Business Accounts: $/€ 10,000 minimum(These minimums exclude the 1.5% fee.)

Yes. Upon request, Prominence Bank can issue a Readiness, Willingness & Ability (RWA) confirmation for existing clients whose accounts are active and in good standing, subject to full verification and internal due diligence. RWA confirmations are delivered via SWIFT or KTT, and—when applicable—may also be displayed through our Document Verification Portal on our website for third-party validation. Fees apply; please refer to our Fees Table in the website’s Fees section for current charges related to RWA, bank comfort letters, or similar confirmations.

Please note: an RWA is not required by Prominence Bank to receive an incoming KTT. We will credit the KTT transaction exactly as received from the remitting bank once our compliance checks are complete.

If your counterparty requires an Irrevocable Payment Guarantee (IPG) or other binding bank instrument (e.g., SBLC/BG/LC/MT760), this is available only under a separate application, with collateral and instrument-specific fees, and remains subject to full due diligence and approval.

Clients must maintain the required minimum available balance and coverage for the 1.5% KTT fee.

After your KTT transaction is credited and verified, the balance becomes part of your regular account holdings. You can send outgoing transfers through SWIFT directly from your Internet Banking portal, following standard compliance and authorization steps.

Prominence Bank does not convert or modify the KTT transaction itself — the credited value remains as received from your remitting institution.

For assistance or transaction support, contact the Accounts & Compliance Department at account@prominencebank.com.

To further clarify, Prominence Bank will credit your account with whatever is received, as per the instructions provided by the remitter’s bank. However:

• We do not guarantee the nature of any transaction initiated by another banking institution or any remitter.

• We do not get involved in transactions initiated by you or your remitter, nor do we provide guarantees for their outcomes.

• It is solely your responsibility to be fully informed of the transactions you or your remitter initiate.

You cannot rely on Prominence Bank to verify or confirm what is being sent to your account before it is been download it and processed. Only you and your remitter can provide this information.

If you have provided your KTT instructions to your remitter, it is your responsibility to fully understand and manage the nature of the transactions being sent to your account. Prominence Bank is not involved in these transactions and cannot comment on or verify the specifics of what is being sent by your remitter.

We reiterate that:

1. Your remitter’s actions are not our concern. Any agreements, terms, or instructions exchanged between you and your remitter are solely your responsibility.

2. A KTT transaction if it is currently pending on your account will not be processed, downloaded, or reviewed by Prominence Bank if your account it is in delinquent status and in good standing.

• • The insurance premium cost will depend on the total insured value and the specific policy terms.

• • The higher the valuation of your assets, the greater the likelihood of loan approval and more favorable terms.

• • If approved, the loan disbursement will be processed within 72 business hours following the completion of all required procedures.

Upfront Fee vs. Available Balance

Upfront Fee

An upfront fee is a one-time charge required by a bank or financial institution before a service is initiated or a product is delivered. This fee is paid in advance and is generally non-refundable. It may cover administrative costs, application processing, or documentation.

Example: When applying for a mortgage, you may be required to pay an upfront fee of €1,000 at the start of the process. This fee would be deducted from the total amount owed if the application is approved.

Available Balance

Your available balance is the amount of funds in your bank account that you can immediately access or withdraw. This figure reflects any pending transactions, holds, or restrictions on deposits. Maintaining a sufficient available balance ensures that transactions—such as payments, withdrawals, or transfers—can be completed without incurring overdraft or insufficient funds fees.

Summary:

• Upfront Fee: Pre-payment for a service or product, paid before delivery.

• Available Balance: The actual, accessible funds in your account at a given time.

Understanding the distinction between these two concepts is essential for effective financial management and ensuring you have adequate funds to meet your obligations.

• You are responsible for ensuring that your account is adequately funded to process KTT transactions.

• You must fully understand and manage the nature of transactions being sent to your account by your remitter.

• Prominence Bank is not involved in verifying, managing, or guaranteeing any transactions initiated by your remitter.

Prominence Bank does not charge fees for services not rendered. Fees (e.g., KTT transaction fees, account maintenance) are only deducted after a service is successfully completed. In the rare event of service failure, refunds are processed after compliance review when applicable.

A 1.5% banking fee applies to all received KTT transactions.

This fee is deducted automatically after receipt of the KTT — no upfront payment is required.

All Prominence Bank accounts—whether standard savings accounts or numbered accounts—are 100% equipped and prepared to receive all types of KTT (Key Tested Telex) transactions. We do not block or restrict KTT transactions under any circumstances unless explicitly requested by the client.

Key Tested Telex (KTT) functionality is automatically enabled upon account opening. No additional request or activation is required..

To be eligible for receiving KTT transfers, the following conditions must be met:

1. 1. Compliance: All submitted documentation must be complete, legal, and compliant with international financial standards and Prominence Bank’s internal protocols.
   2. Account Activation: The account must be fully approved and active, capable of processing institutional-level transactions including SWIFT MT103 and KTT formats.
   3. Sender Verification: The sender must be a qualified institution authorized to transmit KTT, and the transaction must comply with our screening procedures.
   4. Legitimate Purpose: The KTT transaction must relate to a lawful and well-defined financial purpose aligned with the account’s use.

Please note that Prominence Bank does not charge any upfront fees for incoming KTT transfers. A post-transfer service charge of 1.5% is applied and deducted from the account balance once the transfer is complete.

All KTT Telex transactions are subject to a 1.5% fee on the face value received. This applies to all transaction types, including bank instruments, bank guarantees (BG), standby letters of credit (SBLC), and funds transfers.

In accordance with bank policy, Prominence Bank cannot determine the type or nature of any KTT received via the KTT Telex system until the transaction is fully downloaded and credited to the account holder’s profile. Therefore, any client intending to use KTT Telex services must have the financial capacity to cover the applicable fees before the service is provided.

While no upfront fees are charged, account holders must maintain a sufficient available balance to cover the KTT Telex fees prior to the crediting of any transaction. Clients utilizing these services are generally high-net-worth individuals who have the necessary resources to meet all associated obligations.

Example:

If you receive an SBLC via KTT Telex with a face value of USD 500 million, the banking fee at 1.5% would be USD 7.5 million. If your account does not have the available balance to cover this fee, it would result in a significant negative balance and could trigger Non-Sufficient Funds (NSF) penalties. This would adversely affect our banking records with regulatory agencies and place your account in severe delinquency.

Important:

Ensure your account has sufficient funds to cover all associated fees before initiating any KTT transaction to avoid negative balances and penalties.

Yes, there are various fees associated with maintaining an account at Prominence Bank. These fees may vary depending on the type of account you hold and the services you utilize. Understanding these charges is essential for effective account management.

Common Fees Include:

• Monthly Maintenance Fee: Charged monthly to maintain your account.

• Overdraft Fees: Applied when withdrawals exceed your available balance, helping to manage overdrafts.

• Wire Transfer Fees: Assessed for sending or receiving funds via wire transfer, both domestically and internationally.

• Insufficient Funds Fee: Charged for transactions returned due to insufficient funds in your account.

• Foreign Transaction Fee: Applied to purchases made in a foreign currency to cover related processing costs.

• Minimum Balance Fee: Incurred if your account balance falls below the required minimum threshold.

• Inactivity Fee: Charged when an account remains inactive for a designated period to encourage account activity.

For a complete list of all fees associated with your account, please refer to the publicly available Prominence Bank Basic Fees.

If a KTT transaction is received and your account lacks the required balance to cover the 1.5% banking fee, the transaction will remain pending until the balance is regularized.

Prominence Bank reserves the right to apply internal penalties or suspend processing in accordance with its operational policies.

Prominence Bank will credit to your account any funds or instruments successfully received via KTT transfer. However, the Bank does not verify, confirm, or guarantee the details, content, or authenticity of incoming KTT transactions — only you and the remitter know the specifics.

You, as the account holder, bear full responsibility for all KTT transactions initiated to your account, including any arrangements with third parties. The Bank will not be liable for, nor intervene in, any disputes or issues related to these transactions.

A 1.5% banking fee applies to all received KTT transfers and must be available in your account prior to processing. If your account is delinquent or does not meet the minimum balance requirement ($/€ 5,000 for personal accounts or $/€ 10,000 for business accounts), or if the 1.5% fee is not covered, the Bank will not process the KTT transaction.

All fees are non-refundable once a KTT transaction is initiated. Pending transfers will not be processed until the account is in good standing, the required fee is covered, and compliance conditions are met. The Bank makes no promise or guarantee as to the outcome, value, or timing of any KTT transfer.

• Pending KTT transactions will not be processed, downloaded, or reviewed until all fees are covered and your account is in good standing.

• Prominence Bank will credit your account with what is received, based on the remitter’s bank instructions. However, we do not guarantee the nature or details of these transactions.

Prominence Bank charges a mandatory, non-refundable €25,000 account opening fee for all new accounts. This fee cannot be waived under any circumstances. It covers the costs of the Bank’s enhanced security systems, privacy protections, compliance infrastructure, and specialized banking services designed for high-net-worth clients. These measures ensure a secure, private, and exclusive banking environment that differentiates Prominence Bank from conventional financial institutions. Unlike many banks, Prominence Bank’s model prioritizes bespoke, high-standard service and robust infrastructure, which this one-time opening fee directly supports.

KTT is automatically enabled once your account is active, at no extra charge. While we credit incoming funds once received, we do not verify remitter details or transaction content beforehand. Clients must ensure sufficient balance to cover the 1.5% KTT fee and maintain account standing to avoid delays.

Once the KTT is received from the remitting institution and all Prominence Bank compliance and verification checks are completed, the transaction will be credited to your account.

Processing time depends entirely on the remitter’s proper and timely transmission of the KTT message.

The fee reflects the comprehensive suite of premium services Prominence Bank provides, including:

• Secure, Anonymous Account Management: We prioritize client discretion and privacy, ensuring that all financial transactions are safeguarded with the highest level of confidentiality.

• International Banking Infrastructure: Our global network of trusted correspondent banks enables efficient and seamless international transfers.

• Robust Security Measures: We continually invest in advanced security protocols and technologies to protect your assets and preserve the integrity of your accounts.

• Unparalleled Discretion: All transactions are processed through trust accounts, guaranteeing complete confidentiality and protection of personal and financial information.

Absolutely. Prominence Bank is a fully licensed bank and when we issue a financial instrument, it is transmitted through the standard banking networks (SWIFT, KTT, etc.) and carries the credit of Prominence Bank behind it. Our instruments are as valid as those from any international bank, and we do not restrict or block any jurisdiction or transaction format . Of course, the acceptance of an instrument also depends on the beneficiary’s bank and the specifics of the transaction, but generally our LCs, guarantees and other instruments are readily accepted globally. We have experience with cross-border transactions, and our documents are formatted per ICC guidelines (for LCs) or other applicable standards. If a beneficiary’s bank ever has a query, our team is available to liaise and confirm details. In summary, Prominence Bank’s name on an instrument is well-respected, and we stand fully behind any endorsements or guarantees we issue.

Yes – that’s the primary purpose of obtaining an SKR. Once you have the SKR from Prominence Bank, you can present it to potential lenders or investors as proof that you have valuable assets locked in a reputable bank’s custody. Many lenders are willing to lend against an SKR, treating it similar to other bank-backed collateral. In some cases, Prominence Bank itself (or partner institutions) might extend a Lombard loan against your SKR – essentially lending you a percentage of the asset’s value, with the SKR as security . Alternatively, you might engage a third-party financing company or even use the SKR to assure a counterparty in a business deal. The SKR can be verified by the lender via SWIFT – for instance, we can send a SWIFT MT542 message to confirm the SKR’s details to any bank that requests verification . This gives the lender confidence the SKR is authentic and the asset is real. Keep in mind, if you do take a loan against the SKR, the terms of that loan are between you and the lender – but from our side, we would acknowledge a lien and only release the asset when the lender gives clearance (or the loan is paid off). It’s a very effective way to leverage your assets without selling them.

Yes, one of our key offerings in trade finance is to overcome cashflow issues in global trade . Suppose you have a purchase order for goods but need funding until you can resell them – we could structure a solution such as financing against a collateralized Letter of Credit or using a trade loan secured by the goods or an insurance policy. We also provide pre-export financing (advancing funds to producers against contracts) and post-shipment financing (like discounting an LC so you get paid right after shipping). All these solutions are customized, but the goal is to make sure a profitable trade opportunity isn’t missed just due to timing of cash. We often work with insured trade transactions: for example, if the deal is covered by credit insurance or involves confirmed LCs, we can fund a high percentage of it with relatively low risk . Each case will be evaluated for compliance and risk, but we strive to empower our clients to maximize trading potential.

In many cases, yes, some form of security or collateral is required – but it might not always be cash. For issued instruments like LCs or guarantees, typically we will ask for cash collateral or a secure lien on goods/receivables. For example, if you want a Bank Guarantee, we might hold an equivalent deposit or asset. In structured trade loans, the collateral could be the merchandise itself (which we finance and hold title to until resale) or an export insurance policy guaranteeing payment. The collateral requirement can sometimes be mitigated by the structure: e.g., if an LC is fully confirmed by a top bank, our collateral ask might be lower. Prominence Bank’s aim is to facilitate trade, so we will consider the self-liquidating nature of a trade – if the transaction has reliable cash inflows, we may not need 100% collateral. However, as a rule, we take prudent measures to secure any credit exposure. The exact requirement will be discussed with you during application; it could range from 0% (rare, for extremely strong transactions) up to 100% of the value. Each deal is unique.

Yes, absolutely. The asset remains 100% yours – Prominence Bank is just the custodian. The SKR is essentially a receipt acknowledging your ownership and our safekeeping. We do not assume ownership; we cannot sell or transfer the asset (except back to you or a named party with your instruction). Think of it like storing gold in a secure vault: the vault company doesn’t own your gold, you do. Similarly, with an SKR, we’re holding the asset for you and providing a receipt that you can use to demonstrate its existence and value. When you want your asset back (and any obligations tied to the SKR are settled), we simply terminate the SKR and return the asset to you as per the custodial agreement. Many clients appreciate that an SKR lets them keep their asset investment (art, gold, etc.) intact while still raising cash via loans – once the loan is repaid, the SKR is usually canceled and you continue holding your asset as before.

Yes. Upon request by our clients, Prominence Bank can issue Bank Confirmation Letters (BCL) or Proof of Funds (POF) letters to verify account balances or available funds . These are often used in commodity trading or investment projects to show the counterparty that you have access to sufficient funds . The process requires you to have the claimed funds on deposit (or an approved credit facility). We then draft an official letter on bank letterhead, confirming the availability of the funds for a certain period or purpose. All such letters are signed by an authorized officer and can be verified directly with us by the recipient. It’s one of the benefits our clients enjoy, especially in industries like precious metals, oil & gas, or real estate, where showing proof of financial capability is crucial.

First, you need to be an account holder with Prominence Bank. Once you have an account, the process is generally as follows: you contact our Trade Finance department or your relationship manager with details of the transaction that requires the instrument. For an LC, this would include the sales contract or pro forma invoice, the amount, beneficiary details, and the terms you need. For a Bank Guarantee/SBLC, you’d outline the purpose, amount, beneficiary, and expiry/conditions. The bank will perform due diligence on the transaction and may require collateral or a cash margin (often a certain percentage of the instrument’s value) depending on the deal structure. After terms are agreed and any required funds are in place, Prominence Bank issues the instrument via SWIFT to the beneficiary’s bank. The timeline can be quite fast – issuance may take a few banking days after approval. We support our clients through the paperwork and ensure the instrument’s wording meets the beneficiary’s requirements. Always reach out well in advance of your deadline so we can tailor the instrument appropriately.

The process begins with discussing your specific need with us. You’d provide details of the instrument or agreement that you want endorsed – for example, a copy of the contract, the parties involved, the value and duration of the commitment, etc. Prominence Bank will evaluate the request, including the risks involved and your financial standing. We may require collateral or other risk mitigants if the endorsement involves a significant financial obligation. Once terms are agreed (including any fees for providing the endorsement), the bank will issue documentation that it endorses or guarantees the obligation. Practically, this could be an endorsement stamp/signature on a negotiable instrument, or a separate letter of guarantee referencing the contract. Timeline: It could be relatively quick (days) for straightforward cases, but larger or more complex endorsements might take longer due to due diligence. Throughout, our team will guide you. The key point: you must have an open account and history with us, as we need to know our client well before backing their obligations.

From the point when the asset is in our custody and all agreements are signed, it takes only a few days to issue the SKR. The major time factors are opening the account and moving the asset. Opening the custody account is guaranteed within 72 business hours after KYC and fee payment (about 3 business days) – similar to any new account . Once that’s done, the asset delivery and verification can vary: physical delivery depends on distance and logistics (could be a few days or a week or more for large shipments), and appraisal might add a little time. But after the asset is received and verified, we typically issue the SKR within 1–2 business days. In many cases, the entire process from application to SKR in hand is about one week . We know timing can be critical if you’re using the SKR to get a loan, so we strive to move quickly. Just make sure to coordinate with us on scheduling the asset transfer as soon as the account is ready.

Generally, an SKR by itself is not “negotiable” like a check – it’s tied to you and the asset. However, you can assign rights over the SKR to a third party (for example, a lender can be given claim to the asset under certain conditions). If needed, Prominence Bank can re-issue or amend the SKR to name a particular beneficiary (like “SKR held on behalf of Client X, pledged to Lender Y”). But you wouldn’t, say, sign over an SKR freely like a bearer bond; there’s a process to acknowledge any transfer of rights. Most times, the SKR stays in your name and you simply give a security interest to a lender via separate documents. The SKR can be verified by other banks, as mentioned, through SWIFT confirmation. Also, if you wanted to fully transfer ownership of the underlying asset to someone, we could accommodate that by closing out the SKR with you and issuing a new SKR to the new owner (once they become our client and all compliance is done). In summary, SKRs are flexible in usage but not a “freely tradable” paper – they are evidence of custody and are handled with secure communications for any third-party reliance.

The fees and collateral requirements depend on the type and amount of the instrument, as well as the strength of your financial profile. Generally, Prominence Bank will charge an issuance fee (often a percentage of the instrument’s face value, e.g. a few percent per annum for an SBLC) and may require you to provide cash collateral or a deposit to secure the instrument. For instance, if you need a €10M Standby Letter of Credit, the bank might require a certain deposit or asset as security, or arrange for insurance/indemnities, plus charge an annual fee for as long as the SBLC is outstanding. Each case is structured individually – sometimes we offer structured solutionslike tying the instrument to a trade or using a third-party guarantor/insurer. We aim to be flexible and competitive with our fees. All costs would be disclosed to you up front during the application process. (As a reference point, our performance bond insurance partnerships quote premiums between 0.05% to 2% of the insured value – this is separate but gives an idea of external costs if needed.)

Structured Finance refers to complex, tailor-made financing arrangements that go beyond traditional loans or bonds. It’s often used for large projects, asset-backed deals, or to redistribute risk. Prominence Bank offers comprehensive structured finance solutions for clients who need a bespoke financial arrangement that standard banks won’t provide . This can include things like Collateralized Debt Obligations (CDOs), Collateralized Bond Obligations (CBOs), synthetic financial instruments, syndicated loans, or a custom mix of these . In practice, if you have a complicated funding need – say multiple loans to bundle and securitize, or a project that could be financed by issuing structured notes – our team can develop an appropriate solution . We work with international and multinational clients to devise financing that might involve multiple layers (equity, mezzanine, senior debt) or derivative components to hedge risk. The goal is always to reach beyond traditional capabilities and solve the client’s problem creatively . Whatever the issue or complexity, we aim to develop an effective structure to get it done.

Bank Endorsement is a service where Prominence Bank essentially “backs” or guarantees a financial obligation of a client. If you have a negotiable instrument, contract, or project that you need to assure for your counterparty, the bank can endorse it – meaning we commit to uphold the agreement if you (our client) cannot . This gives the other party confidence that the obligation will be honored, because the bank’s reputation and funds stand behind it . You would use a Bank Endorsement in situations like: entering a joint venture or trade where the partner asks for proof you can perform, issuing a time draft that needs a bank’s guarantee, or any deal where “bank backing” is required to proceed. In essence, it’s similar to a guarantee/acceptance. Prominence Bank’s endorsement can cover things like banker’s acceptances or time drafts, among others . It’s valuable in international trade and projects – especially if you’re new or expanding, a bank endorsement from us demonstrates legitimacy and trustworthiness, helping you secure partnerships and favorable terms .

A Safe Keeping Receipt (SKR) is a document that a bank issues to certify it is holding a client’s asset in custody. In effect, it’s a proof of ownership and custody – the asset could be physical (like gold, diamonds, artwork) or financial (like a valuable paper certificate). The SKR from Prominence Bank confirms that we have the asset secured in our vaults or with our safekeeping partner, and it details the asset’s description and value. SKRs are often monetizable, meaning you can use them as collateral to secure loans or trade, without selling the underlying asset . With Prominence Bank’s custodial SKR service, you deposit your assets with us (under a Custodial Agreement), and we issue the SKR in your name. You retain ownership of the asset, but now you have a bank-recognized receipt that you can present to potential lenders or counterparties as evidence of collateral. It’s an alternative financing tool – similar in concept to a bank guarantee, except it’s directly tied to a specific asset you own . One key point: the SKR is fully backed by Prominence Bank; we take on the responsibility of safeguarding the asset, and the SKR is only valid as long as the asset remains under our custody.

The process is as follows: (1) Open a Custodial Account with Prominence Bank dedicated for the SKR service. This involves an application and a one-time fee of €25,000 (similar to our standard account opening fee) . (2) Execute a Custodial Agreement detailing the terms of what asset we will hold and for how long. (3) Deposit the Asset – physically deliver the asset to our vault or transfer the ownership into our custody (depending on the asset type). We can assist with logistics for transport and appraisal. (4) Prominence Bank issues the Safe Keeping Receipt document, detailing the asset and confirming our custody. The cost structure: there’s the initial €25k account setup, and additionally a fee equal to 2% of the asset’s face value which is due within six months of the SKR issuance (or at the time you obtain a loan against the SKR, whichever comes first) . This effectively means you don’t pay the 2% immediately; you have up to 6 months, giving you time to monetize the SKR. There is generally no ongoing “storage fee” for the first six months. If the asset remains longer, a storage or renewal fee might apply annually. We pride ourselves in not charging any upfront holding fee besides the account opening – you only pay the bulk (the 2%) after the SKR has been issued and presumably helped you secure financing.

We offer a comprehensive suite of Trade Finance solutions to facilitate global commerce. This includes providing fast, flexible funding or guarantees for both buyers and sellers in a trade. For importers, we can issue instruments like Letters of Credit (LC) to assure your foreign suppliers of payment . For exporters, we can provide confirmed LCs or export financing so you get paid promptly. We also offer Standby LCs and Bank Guarantees to secure performance or payment in international contracts . Additionally, Prominence Bank can help with collateralized trade transactions – for instance, we work with insured, recorded trades and can extend funding against those with instruments such as SBLCs, BGs, POFs, and BCLs involved . In plain terms: if you have a solid trade deal but face a cash flow gap or need a bank’s assurance to make it happen, we step in to bridge that gap, manage currency risks, and smooth the transaction from end to end.

A wide variety of valuable assets can be used. Common examples include precious metals (gold bars, silver, etc.), precious stones (diamonds, gemstones), high-value collectibles or artwork, certain financial instruments or certificates, and even some forms of real estate titles or commodity ownership documents (though those can be trickier). Essentially, the asset should be something with a clear market value that can be securely stored. We have the capability to hold physical assets in secure vaults (with insurance) and to hold financial instruments in secure accounts. If you’re not sure, you can ask us about a specific asset – we’ll let you know if it’s something we can custodize and issue an SKR against. The asset will typically need to be appraised and authenticated. We then keep it in safekeeping and issue you the SKR which details the asset. Note that you remain the owner; the SKR is not a transfer of ownership, just evidence of custody and an agreement that we’ll release the asset only per your instructions (or to a lender if you’ve pledged it, with your consent).

Prominence Bank offers a wide range of financial instruments for trade and credit enhancement. These include: Letters of Credit (LC), Standby Letters of Credit (SBLC), Bank Guarantees (BG), Documentary Letters of Credit (DLC), Bank Drafts (Cashier’s Checks), Proof of Funds (POF) letters, and Bank Confirmation Letters (BCL) . We also facilitate Key Tested Telex (KTT) transactions as an instrument for funds transfer . These instruments are issued in line with international standards (often via SWIFT messaging) and can be used by our clients to support global trade deals, secure contracts, or demonstrate financial capability. In short, if your business needs a bank-issued instrument to close a deal – from guaranteeing payment to confirming available funds – we likely offer it.

Typically when you have a large or complex financial transaction that isn’t straightforward to fund. Examples: You’re looking to raise capital by securitizing a pool of assets (loans, receivables, etc.), or you need to finance a big infrastructure project using a combination of debt instruments. Another case is if you need a syndicated loan across multiple lenders – Prominence can arrange and lead the syndication . Or perhaps you want to tap private equity and debt together – our corporate finance and structured teams would work jointly on that. Essentially, if the requirement can’t be met by a single plain loan from a single bank, that’s where structured finance shines. We encourage clients to approach us early when planning such projects; we can advise on feasibility and design a solution that might involve, for instance, issuing a series of notes, obtaining credit enhancements (like insurance or guarantees), and attracting institutional investors. Structured finance is the art of assembling a funding puzzle – bring us the challenge and we’ll put the pieces together.

Prominence Bank supports both incoming and outgoing KTT transactions for all account holders . You may initiate a KTT transfer by following the instructions in your online banking portal (under “Funds Transfer”), providing the required details of the recipient bank . The bank will then transmit the KTT message on your behalf – there is no need for direct phone calls or external coordination, as all KTT communications are handled bank-to-bank through official channels

Unfortunately, there have been scams in the finance world involving fake “KTT” offers. To protect yourself, only rely on official KTT communications directly between banks. Prominence Bank will never ask you to engage in unofficial phone calls or Zoom meetings to “verify” a KTT transfer , nor do we charge any upfront KTT fees (all fees are deducted after a real transaction has been received and acknowledged). Be wary of any third party promising huge payouts via KTT or asking for advance payments – always verify with our Help Desk (helpdesk@prominencebank.com) if you have doubts. We take KTT security seriously and have published scam alerts to educate clients . In short, if you initiate your KTT through Prominence Bank’s secure channels and communicate bank-to-bank, you can trust the transaction; any external “shortcuts” or requests outside official procedure should be treated as suspicious.

All the necessary instructions for an incoming transfer – including the KTT Telex code for Prominence Bank – are available in your online banking portal under “Wire Transfer Instructions.” There you’ll find details such as the bank’s name, your account number, and the specific KTT Telex Code (e.g. “(051) 210567 PROMIN G”) to be used for telex messages . You would provide these instructions to the sender’s bank. If you have any difficulty locating the info, you can contact our support, but generally the portal provides the up-to-date KTT wiring instructions.

(NOTE: The KTT Telex Code for Prominence Bank is shown above as an example. It is the code senders use in the telex message to identify Prominence Bank. Always use the exact code provided in your account portal to avoid any misrouting.)

KTT transactions are posted after Prominence Bank receives the authenticated interbank telex from the remitting institution and completes standard compliance checks. Our service level is up to four (4) banking days from confirmed receipt of the complete KTT message. Many transactions clear sooner; however, timing depends on the remitter’s dispatch, intermediary routing, and any required verifications. Posting occurs only if your account is in good standing and has the required available balance to cover the 1.5% KTT fee and the minimum balance. Inter-bank coordination is conducted exclusively via KTT/SWIFT; we do not provide confirmations by email or phone. We will credit the KTT transaction exactly as received from your remitting bank.

Yes. Prominence Bank’s KTT service is intended for large-scale transactions. Each KTT transfer (tranche) must typically be at least $/€10 million and up to $/€500 million per tranche . Multiple tranches can be processed per day subject to compliance approval . These limits ensure KTT is used for its intended high-value purposes, while standard SWIFT wires are available for smaller amounts.

Incoming KTT transactions incur a 1.5% fee on the amount of the transaction received, which is deducted after the KTT transaction are credited . (For example, a €100,000,000 is received via KTT, your account is credited with the full €100,000,000. A separate €1,500,000 (1.5%) banking fee is then debited from your available balance—not from the incoming KTT amount. Please ensure sufficient funds are available to cover the fee.) There are no upfront fees for receiving KTT; Prominence Bank will never ask you to pay any KTT fee in advance . For outgoing transfers, standard wire fees apply (typically ~1% plus any SWIFT costs for sending, if the transfer is initiated as a wire) . All fees are transparently outlined in the fee schedule.

A Key Tested Telex (KTT) is a secure, bank-to-bank telegraphic message system used for transferring funds or financial instruments. Unlike a standard SWIFT wire (which is a common international payment message), a KTT transfer is often employed for very large transactions or special financial instruments and requires both banks to authenticate the message with matching test codes . In practice, KTT serves a similar purpose to SWIFT for moving funds, but it is automatically enabled on all Prominence Bank accounts (no special activation needed) and is used mainly for high-value, institution-level transfers.

Key Tested Telex is designed for large, institutional transactions, and the operational overhead to handle and authenticate each KTT message is significant. By setting a minimum tranche size, Prominence Bank ensures that KTT is used where it adds value – such as major investments, project funding, or interbank asset movements – rather than routine small payments. The minimum also reflects compliance requirements and the need to maintain sufficient account balances. (Remember that you must keep the required minimum account balance in your Prominence Bank account – €5,000 for personal accounts or €10,000 for corporate accounts – so that incoming KTT fees can be covered and the account remains in good standing

Yes, through our Investment Banking and Corporate Finance services, we often assist clients in evaluating and participating in special investment opportunities. If you’re eyeing a private equity stake in a company or a real estate development, we can provide support in a few ways:– Due Diligence & Advisory: Our team can help perform financial due diligence on the opportunity, value the investment, and advise you on structuring the deal.– Syndication or Co-Investment: If the project is large, we might help syndicate it – either by finding co-investors or arranging financing to leverage your contribution (this is where our structured finance comes in).– Execution through our network: We could use our institutional sales platform to access investment products or off-market deals. For instance, if you want to invest in an upcoming IPO or pre-IPO, our Institutional Sales desk might get allocations that we can pass to you .– Custody & Management: If you do invest, we can hold the asset (e.g., the private equity shares) in custody, manage any capital calls or income distributions, and eventually help with exit strategies.Prominence Bank’s broad capabilities (from advisory to financing) mean we can either find an opportunity for you or help you make the most of one you’ve found. We’ve advised on everything from M&A deals to setting up fund structures for clients’ specific projects.

Yes, we have an Mergers & Acquisitions advisory team as part of our corporate finance/investment banking services. If you are looking to buy or sell a company, or merge with another, Prominence Bank can assist with all stages of the M&A process . This includes performing valuations of the target company, assessing bids or offers, structuring the deal, and managing the tendering and negotiation process . We can act as a liaison between stakeholders – for example, mediating discussions between you (our client) and the other party’s representatives – to ensure a smooth transaction . Our team is experienced in representing clients on both the buy side and sell side, meaning we know what’s important to each and can strategize accordingly . We also provide comprehensive insight into market conditions, regulatory considerations, and integration planning post-merger. So whether you need help identifying acquisition targets or finding a suitable buyer for your business, we can add value. We operate discreetly to protect confidentiality during such sensitive deals. Overall, think of Prominence Bank as your boutique M&A advisor that can either complement larger investment banks on a deal or take the lead on mid-sized international transactions.

Privacy is in our DNA. Operating under a diplomatic jurisdiction, Prominence Bank is built to offer a higher level of confidentiality than ordinary banks . For private clients, this means your identity, transactions, and holdings are kept strictly confidential by law – we do not report your information to foreign authorities unless legally compelled by international accords (and our jurisdiction adds layers of protection in that regard). Internally, only senior staff on a need-to-know basis handle private client affairs. We often use numbered accounts and trusts to further shield sensitive activities, as appropriate. In M&A deals, we typically sign NDAs with all parties. If needed, we can even conduct portions of a deal through code names (common in large deals) so that rumors don’t spread. Our communications are secure, and we utilize encrypted channels for discussing client matters. We also advise our clients on steps they can take: for example, if you’re secretly acquiring shares of a company, we might use special purpose vehicles to avoid early disclosure. At the end of the day, our success depends on trust – so we take every measure to protect your privacy. Many of our clients choose Prominence Bank precisely because they require utmost discretion for their financial plans, and we deliver that.

We have a dedicated Investment Banking and Asset Management unit that works closely with our private clients. When you come to us for investment services, first we determine your investment profile – your goals, risk tolerance, time horizon, etc. . Based on that, we can offer a variety of investment programs. For example, if you seek growth, we have access to equity funds and can help allocate to higher-return opportunities ; if capital preservation and steady income are your aim, we might use money market funds or bond portfolios . Our approach is consultative: we provide advice and tailor a portfolio for you, which could include things like managed accounts, structured products, or third-party investment funds that meet our quality criteria . It’s important to note Prominence Bank is not a brokerage for day-trading stocks – we don’t just execute orders, rather we manage and advise on a strategic level. We partner with major investment houses when needed to execute trades or include their funds, but all under our guidance. You’ll receive regular portfolio reports, and we’ll have review meetings to adjust strategy as needed. Essentially, we aim to be the asset manager of choice for our clients, delivering performance while safeguarding your capital through diversification and prudent strategies.

Personalization and discretion. Unlike a retail brokerage where you’re one of thousands executing trades online, with Prominence Bank you have a personal banker and an investment advisor who intimately understand your holistic picture. We take into account all aspects – your business interests, your family plans, tax considerations – and craft an investment approach that aligns with those. We also operate with a strict confidentiality ethos given our diplomatic jurisdiction; your investment moves are not being reported publicly or marketed – privacy is paramount. Additionally, we emphasize capital preservation and due diligence. We won’t chase fads blindly; our recommendations come after careful analysis. We also have the flexibility to tap into a wide universe of assets – we’re not limited to selling you in-house funds. If a certain external hedge fund or a real estate project is best for you, we can facilitate it (often through our network) without conflict of interest. Essentially, we act as trusted advisors rather than just transaction executors. Many clients appreciate that we don’t pressure them into products – our goal is long-term relationship and growth of your wealth, which in turn grows ours. Lastly, being in a niche banking category, we can often access opportunities (especially in the private market) that are not available to general public or smaller investors. This concierge-level investment service is a hallmark of our Private Banking.

A family office service is essentially a suite of services that handle the financial and administrative matters for an affluent family. At Prominence Bank, our family office offerings (in collaboration with partners) can help you manage intergenerational wealth. This includes setting up trusts or foundations, handling estate planning, coordinating tax planning across jurisdictions, managing family investment portfolios, and even concierge services like paying bills or purchasing assets on behalf of the family. The goal is to preserve and grow wealth over generations while simplifying life for the family members. For instance, if you want to ensure your assets are structured optimally for your heirs, we’ll bring in trust experts; if you need to coordinate investments held in different countries, we’ll centralize reporting for you. It’s a highly customized service – we essentially act as your private CFO and support team. Families that have multiple bank accounts, properties, businesses, and philanthropic endeavors find this service invaluable. Prominence Bank’s extraterritorial status can also be advantageous for confidentiality and estate planning. In short, our family office service strives to relieve you of day-to-day financial management burdens so you can focus on your life and business, knowing the back-office is handled proficiently.

Private Banking at Prominence Bank is a personalized financial service for high-net-worth clients (individuals and families) that goes beyond basic account management. As a private client, you get a dedicated relationship manager and access to a range of bespoke services: Asset management and investment advisory, international structuring (for example, setting up trusts or offshore companies for wealth planning), and even family office services. We partner with esteemed specialists (law firms, asset managers, tax advisors) to deliver a holistic solution – not just banking or investment advice, but a complete financial management solution for you and potentially your next generations. The idea is to provide highly personalized attention: from managing your portfolio to facilitating large purchases, arranging credit facilities secured by your assets, and handling day-to-day needs with discretion. Private Banking clients often enjoy benefits like preferential rates, exclusive investment opportunities, and white-glove assistance (for instance, help with property transactions, luxury asset financing, etc.). Essentially, we become a one-stop concierge for your financial life, in cooperation with our network of global partners.

Prominence Bank doesn’t publicly advertise a strict cutoff, but Private Banking is indeed aimed at high-net-worth individuals (HNWIs). Typically, if you have substantial assets (for example, a liquid net worth in the millions of euros) or complex financial affairs that need custom management, you would qualify. In practice, clients who maintain significant balances or investments (often €1 million and up) with the bank are serviced under the Private Banking umbrella. We also consider a client’s overall profile – business influence, unique needs, etc. – it’s not purely a number. If you are interested, the best approach is to speak with us; we may invite you to Private Banking if we believe we can add special value to your situation. Being a private client ensures you get the highest level of service and discretion. If someone comes in through our standard onboarding but clearly fits HNWI criteria, we seamlessly upgrade them to a private client relationship manager. There’s no additional cost to be classified as Private Banking per se (aside from the expectation of larger engagement with us). So, while there’s no hard rule, think in terms of seven-figure relationships with the bank as a guideline.

In many cases, yes. One advantage of working with us on an M&A deal is that we can also tap into our financing capabilities to support the transaction. For instance, if you’re acquiring a company and need a loan or investor partners, our Corporate Finance team can work alongside the M&A advisors to structure that financing – be it through a syndicate of banks, issuing a bond, or finding a private equity co-investor. We might utilize structured finance techniques for leveraged buyouts, or help you raise mezzanine capital. Because we can issue instruments like guarantees or even an SBLC, we could secure certain obligations in the deal (like an escrow or performance guarantee for post-merger commitments). Each deal is unique: sometimes the buyer is cash-rich and no extra financing is needed (in which case, great); other times, a creative solution is required – maybe using the target company’s assets as collateral for a loan. We have a lot of tools at our disposal and we’ll explore them to get the deal done. Keep in mind, for very large deals, we may bring in partner institutions if the financing need exceeds our single capacity, but we will coordinate that for you. Essentially, we won’t just drop you at “advice” – if you need help finding the money to close the deal, we roll up our sleeves and help make it happen.

As with any financial transaction, KTT transfers carry some risks, particularly if the counterparties are not properly verified. Prominence Bank advises clients to conduct thorough due diligence and consult with our experts before proceeding.

Prominence Bank does not provide information to individuals who are not account holders. All relevant details and banking operations, including funds transfers, are available exclusively through our internet banking platform under the “Funds Transfer” section.

Important Information About KTT Transactions at Prominence Bank

At Prominence Bank, we strive to deliver professional and legitimate banking services. To ensure clarity, here are essential details about Key Tested Telex (KTT) transactions:

1. Understanding KTT Transactions:

KTT transactions go beyond cash transfers and are used for interbank communications, issuing financial instruments (like bank guarantees and standby letters of credit), and other banking activities. Prominence Bank cannot be held accountable for misrepresentations or unmet promises from other financial institutions.

2. Service Fees:

As an account holder, you are responsible for all service fees, including those for KTT transactions. Choosing to use KTT services means accepting the associated outcomes. These fees apply regardless of the transaction’s result, as Prominence Bank provides the requested service.

3. Accountability:

If you incur fees based on promises from another institution or intermediary, and the transaction does not meet expectations, you must resolve this directly with the involved party. Prominence Bank is not part of external agreements and cannot take responsibility for their outcomes.

4. Avoiding Misdirected Complaints:

Complaining to Prominence Bank about external transactions, third-party promises, or transactions initiated by other financial institutions is misplaced. Our role is limited to executing the services requested within our institution.

5. Refund Policy:

Prominence Bank does not issue refunds for services rendered. Fees are charged for processing the requested services, regardless of the transaction’s final result or any dissatisfaction.

Next Steps:

•Resolve with Your Counterparty: Address unmet promises directly with the intermediary or institution involved.

•Clarify Expectations: Avoid directing complaints to Prominence Bank regarding external agreements or third-party issues, as we cannot resolve them.

At Prominence Bank, we are committed to professionalism and transparency. While we cannot mediate external disputes, we remain available to assist with services under our control. For any additional questions or clarification, please contact us directly.

No. Prominence Bank does not issue or require a specific DOA (document of authorization) or message template.

Your remitting bank may use its own format in accordance with its internal compliance standards. Our bank will process whatever is officially received through interbank channels.

No. For compliance and security reasons, Prominence Bank does not correspond with other financial institutions through email, telephone or unsecured channels.

All interbank communication is conducted exclusively through SWIFT or KTT systems in accordance with AML/CTF standards and international banking laws.

No, Prominence Bank does not sign Purchase Guarantee Letters (PGL) or Bank Payment Undertakings (BPU) after the execution of a Deed of Agreement (DOA) with an account holder. These agreements are strictly between the transacting parties. We recommend that clients consult with their legal and financial advisors to ensure full compliance with all regulations before proceeding with any contractual commitments.

Prominence Bank operates under Foreign Jurisdiction License No. 05052025-A (Diplomatic Jurisdiction – ETMO). For official verification, use your PIN on our site or email verify@prominencebank.com. We do not publish sensitive licensing documents publicly; please rely on our official channels for confirmation. 

We use SSL encryption, multi-factor authentication, secure trust-account structures, and strict access controls. All operations follow AML/KYC and international banking standards. We do not share client data without consent or legal obligation. 

Clients must refer to “crediting the KTT transaction.”

Prominence Bank does not pre-determine or classify the nature of the remittance (e.g., cash vs instrument such as BG, SBLC, etc.) until it is received and verified through official interbank channels.

No. The remitting bank is solely responsible for originating, formatting, and transmitting the KTT.

Prominence Bank acts exclusively as the receiving institution and processes the KTT strictly as received from the remitter, without alteration or guarantee of its content.

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

At Prominence Bank, we take the security of your financial transactions very seriously. We have recently observed a significant rise in fraudulent activities associated with KTT (Key Tested Telex) transmissions, particularly involving the misrepresentation of bank instrument messages as cash transfers. This notice is intended to educate and protect our clients from these deceptive practices and to clarify our bank’s operational stance and responsibilities regarding all KTT-related transactions.

Understanding the KTT Telex Scam

Scammers operating within the financial ecosystem have been known to lure victims—especially investors and account holders—into believing that a genuine monetary transfer is being sent via KTT. However, upon execution, what is actually sent is a bank instrument, such as:

• • MT-103 One-Way Credit Enhancements

• • Standby Letters of Credit (SBLC)

• • Bank Guarantees (BG)

• • Documentary Credits or other structured financial instruments

These instruments do not constitute immediate liquid funds. Yet, the receiving party’s account is still liable for all associated fees, irrespective of their initial expectations.

Clarification on Legitimate Bank Instruments vs. Funds Transfers

It is essential to clarify that bank instruments sent via KTT are often legitimate financial instruments that serve real, verifiable purposes in international banking. These may include credit enhancement, trade finance guarantees, or structured settlement support.

For instance, a bank guarantee or standby letter of credit can be used to guarantee payment for a shipment of goods—such as sending an SBLC from a buyer in Europe to a factory in China to secure the release of products. In some cases, if the receiving bank accepts the instrument as valid security, the recipient may be able to obtain a loan or financing.

However, Prominence Bank does not issue loans, credit lines, or monetization services based on KTT-delivered bank instruments. Our institution acts strictly as a technical receiver, and we do not reclassify, convert, or interpret the intent behind the message content.

Therefore, if a client is expecting a funds transfer but instead receives a bank instrument, this does not mean the instrument is fake. It simply means that the sender issued a legitimate financial tool with a purpose other than direct cash delivery. Misunderstanding this distinction does not invalidate the instrument itself, nor does it relieve the account holder of processing fees.

We urge all clients to exercise due diligence and confirm in advance with their remitter whether they are receiving cash or an instrument.

How Scammers Operate

These fraudsters often operate by:

• • Claiming that a KTT is a guaranteed cash transfer

• • Promising investment capital, donation, inheritance, or project funding

• • Using fake documentation, forged authorization letters, or fraudulent bank credentials

• • Pressuring the client to “prepare” for a high-value KTT and misrepresenting the nature of the transaction

• • Disguising bank instruments as cash deliveries to trick account holders into accepting fees and charges

Once the transaction is received, the client discovers that no cash has arrived, only a financial instrument of uncertain value and utility.

Prominence Bank’s KTT Handling Policy

Prominence Bank offers the technical capability to receive and process all forms of KTT transmissions into any account under our platform. However, we make the following critical clarifications:

• • KTT Receiving Fee: Prominence Bank charges a 1.5% fee on the total face value of any received KTT, regardless of whether the KTT is a cash transfer or a bank instrument.

• • No Upfront Charges: We do not charge any upfront fees for the receipt of a KTT. However, once the KTT is received and recorded into our system, the 1.5% processing fee is automatically deducted from the account holder’s balance.

• • Irrevocable Obligation: The client is fully responsible for the fees once the KTT is delivered—regardless of the instrument’s nature.

• • No Instrument Conversion: Prominence Bank cannot convert or modify a bank instrument received via KTT into a liquid cash credit. We do not reclassify KTT instruments. We act as a passive receiver and record what is delivered exactly as sent by the remitting institution.

• • Transaction Irreversibility: Once the KTT is downloaded into the bank’s system, the transaction becomes non-reversible and the associated fees are triggered immediately. The client must have the required fee amount in their account in advance, or the bank reserves the right to debit other holdings or assets.

Our Recommendation: Use SWIFT Over KTT

For all clients seeking reliable, traceable, and secure fund transfers, Prominence Bank strongly recommends using SWIFT wire transfers.

Unlike KTT:

• • SWIFT messages are standardized and widely regulated

• • Funds are verifiable and traceable in real-time

• • The receiving party has clarity and confirmation before charges apply

KTT transmissions, especially from unknown or unverified sources, carry a high risk and lack transparency. It is not possible for Prominence Bank to pre-verify or confirm the contents of a KTT message until it is fully received and processed.

How to Protect Yourself

1. Verify the sender’s legitimacy. Ask for credentials and confirmation from a regulated financial institution.
2. Do not accept transactions you do not fully understand.
3. Request a pre-advice or detailed breakdown of what will be transmitted.
4. Obtain written confirmation of whether the transmission is a cash transfer or a bank instrument.
5. Do not rely on verbal promises or unofficial documentation.
6. Keep a healthy level of skepticism with high-value unsolicited offers.
7. Consult with your private banker or compliance officer before accepting any KTT transaction.

Investor and Client Responsibility

Please understand that Prominence Bank does not intervene, authorize, or validate the intent of the remitter or the authenticity of the KTT content prior to its arrival. We only receive what is delivered via secure channels, and we do not alter or interpret the nature of the KTT Telex.

Therefore, clients bear 100% responsibility for ensuring that the originator of the KTT is legitimate, and for confirming whether the expected transaction is truly funds or a financial instrument. Misunderstanding or misrepresentation by your counterparty will not nullify our standard 1.5% processing fee.

Important Notice

We have encountered multiple cases of clients mistakenly believing they were receiving funds, only to find that a bank instrument was transmitted instead. These are not errors or malfunctions by Prominence Bank. They result from lack of client due diligence and misrepresentation by third-party remitters.

Prominence Bank’s sole responsibility is to receive, process, and post incoming KTT messages as delivered. We do not modify, restructure, or reclassify their contents. All fees are applied as outlined in our terms and conditions, without exception.

Client Advisory:

To avoid unexpected fees, financial loss, or legal issues, Prominence Bank advises all clients to:

• • Avoid using KTT for critical or large transactions unless fully verified

• • Opt for SWIFT-based transactions where possible

  • Conduct rigorous due diligence on all KTT senders

• • Ensure sufficient balance is available to cover the 1.5% processing fee

Prominence Bank remains committed to supporting legitimate international banking transactions and providing compliant, secure services. For questions or clarification regarding KTT procedures, please contact your account manager or our compliance team.

Stay Informed. Stay Protected.

Best regards,

Prominence Bank

Yes. Upon request, Prominence Bank can issue a Readiness, Willingness & Ability (RWA) confirmation for existing clients whose accounts are active and in good standing, subject to full verification and internal due diligence. RWA confirmations are delivered via SWIFT or KTT, and—when applicable—may also be displayed through our Document Verification Portal on our website for third-party validation. Fees apply; please refer to our Fees Table in the website’s Fees section for current charges related to RWA, bank comfort letters, or similar confirmations.

Please note: an RWA is not required by Prominence Bank to receive an incoming KTT. We will credit the KTT transaction exactly as received from the remitting bank once our compliance checks are complete.

If your counterparty requires an Irrevocable Payment Guarantee (IPG) or other binding bank instrument (e.g., SBLC/BG/LC/MT760), this is available only under a separate application, with collateral and instrument-specific fees, and remains subject to full due diligence and approval.

Clients must maintain the required minimum available balance and coverage for the 1.5% KTT fee.

After your KTT transaction is credited and verified, the balance becomes part of your regular account holdings. You can send outgoing transfers through SWIFT directly from your Internet Banking portal, following standard compliance and authorization steps.

Prominence Bank does not convert or modify the KTT transaction itself — the credited value remains as received from your remitting institution.

For assistance or transaction support, contact the Accounts & Compliance Department at account@prominencebank.com.

If you have provided your KTT instructions to your remitter, it is your responsibility to fully understand and manage the nature of the transactions being sent to your account. Prominence Bank is not involved in these transactions and cannot comment on or verify the specifics of what is being sent by your remitter.

We reiterate that:

1. Your remitter’s actions are not our concern. Any agreements, terms, or instructions exchanged between you and your remitter are solely your responsibility.

2. A KTT transaction if it is currently pending on your account will not be processed, downloaded, or reviewed by Prominence Bank if your account it is in delinquent status and in good standing.

• • The cost to open a custodian account (SKR) is €25,000, payable at the time of application.

• • An additional 2% of the face value of the SKR is due within six months of issuance or upon loan disbursement.

• • The Performance Bond Insurance Policy (recommended from Lloyd’s of London) ranges from 0.05% to 2% based on the insured amount.

• • Asset deposit at the bank has no associated cost; however, asset appraisal costs are coordinated directly with the appraiser.

• • Loan approval is at the sole discretion of our Credit Department and is not guaranteed solely by the issuance of an SKR.

Please note that Prominence Bank does not accept SKRs issued by external storage facilities. To proceed with any transaction, the assets must be deposited with Prominence Bank. Upon deposit, an SKR will be issued directly by our bank, ensuring full bank responsibility and validity for monetization purposes.

As the account holder, it is your responsibility to fully understand and manage the nature of the KTT transactions being sent to your account. If you provided KTT instructions to your remitter, you are accountable for the type of transaction being sent. Prominence Bank does not get involved in transactions initiated by you or your remitter, nor do we verify or guarantee the specifics of such transactions originated by another bank institution.

At Prominence Bank, we prioritize the confidentiality and security of our clients’ financial information. If you are not an account holder, we are unable to provide transaction details or banking information. We kindly advise you to directly contact your sender or receiver who holds an account with our bank, as they have access to all necessary transaction details through our secure internet banking platform.

For further assistance, we recommend working directly with the account holder involved in the transaction to obtain any required information.

Once the KTT is received from the remitting institution and all Prominence Bank compliance and verification checks are completed, the transaction will be credited to your account.

Processing time depends entirely on the remitter’s proper and timely transmission of the KTT message.

All account-specific transfer details are available exclusively inside your Internet Banking portal under the “Funds Transfer” section.

For security reasons, Prominence Bank does not disclose wiring or KTT instructions to any third party via email or external request.

Important Notice:

Prominence Bank does not charge any upfront fee for incoming KTT transactions.

All fees are automatically deducted after receipt of the transaction.

All operations are conducted under strict international banking compliance and AML/CTF protocols.

You are solely responsible for all agreements, terms, and instructions exchanged with your remitter. Prominence Bank is not involved in these transactions and does not verify, manage, or guarantee their outcomes. It is your duty to ensure clear communication and understanding with your remitter regarding any Key Tested Telex (KTT) transactions.

Prominence Bank does not require or issue preliminary messages for incoming KTT transactions.

If your remitting institution specifically requests an interbank message, you may contact our Telex Department for procedural guidance and applicable service charges, which are handled on a case-by-case basis.