All Prominence Bank accounts—whether standard savings accounts or numbered accounts—are 100% equipped and prepared to receive all types of KTT (Key Tested Telex) transactions. We do not block or restrict KTT transactions under any circumstances unless explicitly requested by the client.
KTT functionality is enabled within 24 hours after the account holder formally requests KTT activation on their account. Once requested, the enablement is guaranteed. Prominence Bank does not decline KTT activation on any account under any circumstances, unless the client specifically requests deactivation after asking to enable it. This ensures there is no risk that a client, once their account is opened, will be unable to receive KTT transfers.
To be eligible for receiving KTT transfers, the following conditions must be met:
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Compliance: All submitted documentation must be complete, legal, and compliant with international financial standards and Prominence Bank’s internal protocols.
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Account Activation: The account must be fully approved and active, capable of processing institutional-level transactions including SWIFT MT103 and KTT formats.
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Sender Verification: The sender must be a qualified institution authorized to transmit KTT, and the transaction must comply with our screening procedures.
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Legitimate Purpose: The KTT transaction must relate to a lawful and well-defined financial purpose aligned with the account’s use.
Please note that Prominence Bank does not charge any upfront fees for incoming KTT transfers. A post-transfer service charge of 1.5% is applied and deducted from the account balance once the transfer is complete.
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