banking fees Archives - Prominence Bank

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banking fees

Are there fees associated with wire transfers and international payments?

March 9, 2025admin

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

What is the account opening fee and why is it required?

March 9, 2025admin

The account opening fee is €25,000. This non-refundable fee ensures access to high-security banking services with total privacy and specialized account management.

What fees are associated with KTT Telex transactions, and what should I know before initiating one?

November 6, 2024admin

We would like to inform you that all types of KTT Telex transactions incur a fee of 1.5% of the face value received. This fee applies to bank instruments such as Bank Guarantees (BG), Standby Letters of Credit (SBLC), and any other type of KTT transaction, including funds transfers. As our bank policy dictates, we...

Upfront Fee vs. Available Balance or Having sufficient funds in your account.

November 2, 2024admin

Upfront Fee vs. Available Balance Upfront Fee: An upfront fee is a one-time charge that a bank or financial institution requires to initiate a service or product. This fee is paid before the service is rendered or the product is delivered. For example, when applying for a loan, you might encounter an upfront fee, which...

Does your bank charge any upfront fees for its services?

November 2, 2024admin

Prominence Bank does not charge upfront fees for any of our services. All of our fees are deducted from your bank account available balance only after we have provided a service to you.