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Service Charges

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Comparative fees and charges: 01 October 2018 - 31 December 2018
Description
Offshore Banking
Domestic Banking



Minimum balance to open a/c

Individuals
USD 10,000 or equivalent​
SCR 5,000
BusinessUSD 25,000 or equivalentSCR 10,000
​Balances below specified amount
​USD 50 p.m.
SCR 50 p.m.
Maintenance fee
USD 20 p.m.SCR 100/- half-yearly
Current a/c closureNo chargeNo charge
Cheque booksN.A.Personal 30 pages - SCR 110
Personal 50 pages - SCR 130
Corporate 50 pages - SCR 150
Corporate 100 pages - SCR 220
Cheque returned for lack of fundsN.A.SCR 500 per cheque
Request archive statementsNo chargeSCR 15 per page
Stop payment of chequeN.A.SCR 50 per cheque
ATM usageN.A.N.A.
Advances Fees
Arrangement / Processing Fee1% of facility amount1% of facility amount
(min SCR 500)
Renewal Fee 1% of facility amount1% of facility amount
(min SCR 500)
Limit excess / Arrears Fee2% above contracted rate or USD 100 whichever is higher2% above contracted rate or SCR 250 whichever is higher
Pre-payment Fee (Term Finance)No ChargeNo Charge
Amendment to Facility contracts/agreement 0.5% of outstanding balance0.5% of outstanding balance (Min SCR 500)
Statement of a/cNo ChargeNo Charge
Amortisation scheduleNo ChargeNo Charge
Rescheduling/restructuring - Term Finance1% of outstanding balance1% of outstanding facility amount (Min SCR 500)
Letter of no commitment with the bankUSD 100SCR 100
Penalty rate on defaults2% above contracted rate2% above contracted rate
Release of guaranteesNo chargeNo charge
Cancellation of Facility agreement (pre-disbursement) 1% of facility amount1% facility amount
(Min SCR 500)
Funds Transfers
Foreign Payments   
Telex/ TT/ SWIFTUp to USD20,000 - USD50 + correspondent charges
Above USD20,000 - 0.30% of the amount + correspondent charges
Up to USD10,000 - SCR 200 + correspondent charges
Above USD10,000 - 0.25% of the amount, max SCR 1500 + correspondent charges
CommissionNo chargeNo charge
Local Payments   
Payments made on customers' behalf (outward)USD 15SEFT - SCR20
SWIFT - SCR50
Banker's chequesN.A.SCR 50
Standing Orders
Current a/c Internal - USD 10
External - As per SWIFT charges
Internal - No charge
External - As per SEFT/SWIFT
Savings a/cN.A.Internal - No charge
External - As per SEFT/SWIFT
New standing order set upUSD 10SCR 20
Amendment to standing orderUSD 10SCR 20
Unpaid due to lack of fundsUSD 75SCR 100
Foreign Currency Account
Minimum balance to open a/c

Individuals
N.A.Equivalent of USD 1000
Business Equivalent of USD 2500
Balances below specified amountN.A.Equivalent of USD 10
Inward transfers received from banksN.A.No charge
Foreign currency a/c openingNo chargeNo charge
Foreign currency a/c maintenance Individuals
N.A.Equivalent of USD5 pm
Equivalent of USD10 pm
Business
Transfer within branchN.A.No charge
Cash withdrawalN.A.N.A.
Cheque books N.A.N.A.
Cash depositN.A.N.A.
Documentary Credits
(Outwards)
N.A.​N.A.
Documentary Credits
(Inwards)
N.A.N.A.
Internet banking No chargeN.A.
Miscellaneous  
Bank audit report to company's auditors USD 15SCR 200/
Status report for customers USD 15SCR 200/

Disclaimer
Please note that the above fees are applicable from October 01, 2018 to December 31, 2018.​

Abbreviations
N.A. - Services not being provided by bank as of now

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