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 and standby letters of credit), and other banking activities. Prominence Bank cannot be held accountable for misrepresentations or unmet promises from other financial institutions.
2. Service Fees:
As an account holder, you are responsible for all service fees, including those for KTT transactions. Choosing to use KTT services means accepting the associated outcomes. These fees apply regardless of the transaction’s result, as Prominence Bank provides the requested service.
3. Accountability:
If you incur fees based on promises from another institution or intermediary, and the transaction does not meet expectations, you must resolve this directly with the involved party. Prominence Bank is not part of external agreements and cannot take responsibility for their outcomes.
4. Avoiding Misdirected Complaints:
Complaining to Prominence Bank about external transactions, third-party promises, or transactions initiated by other financial institutions is misplaced. Our role is limited to executing the services requested within our institution.
5. Refund Policy:
Prominence Bank does not issue refunds for services rendered. Fees are charged for processing the requested services, regardless of the transaction’s final result or any dissatisfaction.
Next Steps:
•Resolve with Your Counterparty: Address unmet promises directly with the intermediary or institution involved.
•Clarify Expectations: Avoid directing complaints to Prominence Bank regarding external agreements or third-party issues, as we cannot resolve them.
At Prominence Bank, we are committed to professionalism and transparency. While we cannot mediate external disputes, we remain available to assist with services under our control. For any additional questions or clarification, please contact us directly.
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