financial transactions Archives

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financial transactions

What currencies does Prominence Bank support?

November 25, 2024admin

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

How long does it take to process a transaction?

November 25, 2024admin

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.

Clarification on KTT Transactions and Your Responsibility as an Account Holder

November 23, 2024admin

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...

Clarification on KTT Cash Transfers and Bank Responsibilities

November 23, 2024admin

It is important to understand how KTT cash transfers work to avoid any confusion regarding the process. Here’s a breakdown of the key aspects: 1.Bank Officer Notifications: When a bank officer informs you of an incoming KTT cash transfer, they are simply relaying the information visible on the bank’s system. This does not guarantee that...

Can I request a refund of fees attributed to KTT Telex transactions?

November 3, 2024admin

While we understand the importance of financial transactions and the need for transparency, we must clarify that the fees incurred from KTT transactions are non-refundable in accordance with our policies. We kindly ask that you refrain from seeking refunds for services rendered, regardless of issues related to your remitter, as such requests do not align...

What is the SWIFT code for Prominence Bank?

November 2, 2024admin

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.

Are there limits on wire transfers?

November 2, 2024admin

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. However, for KTT (Telex) wire transfers, there are specific limits in place: – Minimum Tranche Size: 10 million – Maximum Tranche...

Can I use a KTT Telex funds transfer to pay for the bank account opening fee?

November 2, 2024admin

No, you cannot use a KTT Telex funds transfer to pay for the bank account opening fee. The opening fee must be paid via Swift wire transfer or Cryptocurrency (USDT). KTT is not accepted for this payment, but once your account is opened, you can request to enable KTT transfers for future transactions.