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 are unable to determine the type of KTT that will be received through the KTT Telex system until the transaction is fully downloaded and credited to the account holder’s profile. Consequently, we require that any client wishing to utilize the KTT Telex system services possess the financial capacity to cover the associated fees before the service is provided.
Although we do not charge upfront fees, it is essential for account holders to maintain a sufficient available balance to cover the KTT Telex fees before any KTT Telex transaction can be credited to their profile. Typically, clients who utilize KTT Telex services are high-net-worth individuals, ensuring they have the necessary financial resources to cover all associated fees.
For example, if you are receiving a Standby Letter of Credit (SBLC) via KTT Telex with a face value of 500 million, the associated banking fee of 1.5% would amount to 7.5 million dollars. If your account does not have the available balance to cover this fee, it could lead to a substantial negative balance, in addition to potential Non-Sufficient Funds (NSF) penalties, which would negatively impact our banking records with regulatory agencies. This could leave your account significantly in the negative, which we strongly recommend avoiding. It is essential to ensure that you have sufficient funds in your account to cover all associated fees before initiating a KTT transaction.
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