Transaction Fees Archives - Prominence Bank

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Transaction Fees

Does Prominence Bank refund fees if a transaction is not completed?

November 25, 2024admin

Prominence Bank follows a policy of not charging any fees upfront. When a fee is charged, it indicates that the service has been provided and confirmed. If a transaction is not completed, there would typically be no fee applied because fees are only charged upon successful delivery of services.

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...

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 should I know about fees and refunds?

November 3, 2024admin

At Prominence Bank, we want you to feel confident regarding our fee structure. Rest assured, we will never charge you a fee for services not rendered. Any fees deducted from your account signify that we have indeed provided the service, and you will see the corresponding transaction reflected in your account. For instance, if a...

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...