Financial Management Archives

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Financial Management

Can I receive different currencies into my Prominence Bank Account?

November 2, 2024admin

Yes, you can receive different currencies into your Prominence Bank account. However, please note that exchange and conversion rates may apply to your account. For example, the KTT conversion rate incurs a fee of 0.4%. While it is possible to receive funds in different currencies, we recommend using your account’s designated currency to avoid these...

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...