Prominence Bank KTT Policy Archives

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Prominence Bank KTT Policy

Policy on KTT Transactions

November 26, 2024admin

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,...

What are my responsibilities to understand regarding KTT transactions?

November 26, 2024admin

• 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.

Who is responsible for agreements and instructions exchanged with my remitter?

November 26, 2024admin

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.

Can I rely on Prominence Bank to confirm what is being sent to my account before processing?

November 26, 2024admin

No. Prominence Bank does not confirm or verify incoming transactions before they are downloaded and processed. Only you and your remitter have the information regarding these transactions.

What should I do if I want to stop receiving KTT transactions?

November 26, 2024admin

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.