Bank Fees and Charges: A Detailed Breakdown, Lecture notes of Negotiation

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Service Fees and Price Guide 1 TRADE Product Description Charge Description Fees Bid bonds/Tender bonds One off charge Maximum of 1% Performance bonds 2% per half year Advance payment bonds One off charge Maximum of 1% Bonds of customs and excise (Bank Guarantees) Maximum of 2% All other bonds and guarantees (Shipping Gtee etc) Maximum of 2% - Minimum of NGN5,000 Cancellation fee Nil Product Description Charge Description Fees Processing & registration of Form M NGN5,000 Form M Amendment NGN5,000 Form M Revalidation NGN5,000 Form M Extensions NGN5,000 Establishment commission for credits up to 180 days Plus communication charges 1% Establishment commission for credits up to 270 days 1.25% Establishment commission for credits up to 360 days 1.50% Amendment NGN2,000 Request for Extension NGN2,000 Offshore Advising charges (if charges are for the applicant’s account). $100.00 Telex Charges NGN5,000 Offshore Confirmation charge 2% Trade Loan Libor +3% Penal Rate for late payment after 7 days of grace Incremental 2% Product Description Charge Description Fees Processing and registration of NXP form NGN5,000 Advising Commission Where a Nigerian Bank Simply verifies authenticity of credit and delivers same NGN2,000 Where a Nigerian Bank has to re-write the credit Min Equivalent of USD25 NGN0.5/mille Transferring commission Min Equivalent of 0.50% USD25 Request for Confirmation 1% of face value Minimum of NGN5,000 Negotiation 1% of face value Risk Assessment Report NGN2,500 for Non Valid for FX Form M Product Description Charge Description Fees Documentary Bill Maximum of 2% Holding Charge: Form M NGN5,000 Bills under NGN 25,000 NGN2,500 per month Bills above NGN25,000 NGN5,000 per month Extension NGN3,000 per bill Bills for collection negotiation 0.5% flat Protest charge plus Notary public fees Maximum of NGN5,000 Telex Charges NGN5,000 Request for Trade Loan Libor +3% Penal Rate for late payment - 7 days of grace Incremental 2% Product Description Charge Description Fees Documentary Bills - Handling Charge Maximum of 2% Product Description Charge Description Fees Avalised Bills of Exchange and Promissory Notes Avalisartion Commission Maximum of 2% Payment Commission Maximum of 2% Product Description Charge Description Fees Other OpenAccount Transactions Invoice Financing BDBR Bankers Acceptance Vendor Prepay Receivables Services Interest Nibor + 4.5% TT Swift Commission (where applicable) NGN4,000 Bonds/Guarantees LC Commission - Import LC Commission - Export Bills for Collection (Import) Bills for Collection (Export) Avalisation Others Service Fees and Price Guide 2 ACCOUNT SERVICES Product Description Charge Description Fees Account Minimum Balance (LCY) (applicable if balance < LCY999,999) Fall below fee Waived Dormant Account(LCY) Maintenance Fee Waived Account Statement (LCY) Monthly Fee Waived Cash Deposit via Agent banks (LCY) - Account Currency Commission Free Cash Deposit Over-the- Counter (LCY) - Account Currency Commission Free Cash Deposit Over-the- Counter (LCY) - Foreign Currency Commission Free Cash Withdrawal Over-the- Counter (LCY) - Account Currency Commission NGN1 per N1000 - 2015, Nil in 2016 Cash Withdrawal Over-the- Counter (LCY) - Foreign Currency Commission N/A Standard Cheque Book (LCY) Issuance Fee NGN1, 500 Cheque (LCY) Transaction Fee Free Direct marking of cheque (LCY) Handling Fee N/A Immediate clearance of house cheques OTC (LCY) Handling Fee Free Stop Cheque Payment (LCY) Fee NGN500 Cheque Return-Issued on your account (LCY) Return Fee <320,000 = 0.5%, >320,000 = NGN5,000 Cheque Return-Deposited in to your account (LCY) Return Fee NGN 150 Product Description Charge Description Fees Account Minimum Balance (applicable if balance < LCY999,999 or equivalent) Fall below fee Waived Dormant Account(FCY) Maintenance Fee Waived Account Statement (FCY) Monthly Fee Waived Cash Deposit via Agent banks (FCY) - Account Currency Commission Free Cash Deposit Over-the- Counter (FCY) - Account Currency Commission Free Cash Deposit Over-the- Commission Free Counter (FCY) - Foreign Currency Cash Withdrawal Over-the- Counter (FCY) - Account Currency Commission 0.5% Cash Withdrawal Over-the- Counter (FCY) - Foreign Currency Commission 0.5% Standard Cheque Book (FCY) Issuance Fee NGN1, 500 Cheque (FCY) Transaction Fee N/A Direct marking of cheque (FCY) Handling Fee N/A Immediate clearance of house cheques OTC (FCY) Handling Fee Free Stop Cheque Payment (FCY) Fee NGN500 Cheque Return-Issued on your account (FCY) Return Fee NGN1, 600 Cheque Return-Deposited in to your account (FCY) Return Fee N/A Product Description Charge Description Fees Audit Confirmation Commission Free Certificate of Balance or Letter of Reference Commission NGN2, 500 Cheque Retrieval (cheque image) Commission Waived Cheque Retrieval (physical cheque) Commission Waived Account Statement Retrieval (Less than 6 months ago) Commission NGN 50 per page Account Statement Retrieval (More than 6 months ago) Commission NGN 50 per page Automated balance transfer Setup Setup Fee Free Automated balance transfer Maintenance Monthly Fee Free Automated balance transfer Amendment/ Cancellation Fee Waived Standing instructions Setup/ Amendment Fee NGN 300 SWIFT MT940/950 Transaction Fee US$ 25 SWIFT MT900/910 Transaction Fee US$ 25 PAYMENT TRANSFERS Product Description Charge Description Fees Book Transfer Within Own Accounts - Electronic Transaction Fee Free Local Currency Current or Call Account Other Account Services Savings Accounts Foreign Currency Current or Call Account Book Transfers – Payment Services Service Fees and Price Guide 5 Cancellation - Manual International Bank Cheque Cancellation and Re-issuance Fee US$0.50 + Issuance Fee of International Bank Cheque Product Description Charge Description Fees Outgoing Telegraphic Transfer (with FX) - Electronic Commission 0.5% commission + $25 or GBP15 or EUR20 Outgoing Telegraphic Transfer (without FX) - Electronic Commission N/A Outgoing Telegraphic Transfer (with FX) - Manual Commission 0.5% commission + $25 or GBP15 or EUR20 Outgoing Telegraphic Transfer (without FX) - Manual Commission 0.5% commission + $25 or GBP15 or EUR20 Outgoing Telegraphic Transfer Electronic Debit Advice (Paper) Delivery Fee Free Outgoing Telegraphic Transfer Electronic Debit Advice (Email) Delivery Fee Free Outgoing Telegraphic Transfer Electronic Debit Advice (Fax) Delivery Fee Free Outgoing Telegraphic Transfer Manual Debit Advice (Paper) Delivery Fee Free Outgoing Telegraphic Transfer Manual Debit Advice (Email) Delivery Fee Free Outgoing Telegraphic Transfer Manual Debit Advice (Fax) Delivery Fee Free Outgoing Telegraphic Transfer Repair Repair Fee US$25 or GBP15 or EUR20 Product Description Charge Description Fees Beneficiary Advice Setup Setup Fee Free Beneficiary Advice Customization Customization fee NGN 7, 500 Beneficiary Advice Maintenance Monthly fee Free Beneficiary advice (Email) Delivery Fee Free Beneficiary advice (Fax) Delivery Fee Free Beneficiary advice (Mail) Delivery Fee Free Product Description Charge Description Fees SWIFT MT101 Setup Fee US$25 or GBP15 or EUR20 SWIFT MT101 Maintenance Monthly Fee Waived Product Description Charge Description Fees Enhanced Cross Border Payments Implementation - Setup Setup Fee N/A Enhanced Cross Border Payments Implementation - Monthly Monthly Fee N/A Product Description Charge Description Fees Enhanced Cross Border Book Transfer Transaction Fee N/A Enhanced Cross Border Book Transfer - Stop Stop Fee N/A Enhanced Cross Border Book Transfer - Return Return Fee N/A Product Description Charge Description Fees Enhanced Cross Border Real Time Settlement Transaction Fee N/A Enhanced Cross Border Real Time Settlement - Stop Stop Fee N/A Enhanced Cross Border Real Time Settlement - Return Return Fee N/A Product Description Charge Description Fees Enhanced Cross Border Direct Credit Transaction Fee N/A Enhanced Cross Border Direct Credit - Stop Stop Fee N/A Enhanced Cross Border Direct Credit - Return Return Fee N/A Product Description Charge Description Fees Enhanced Cross Border Payroll Transaction Fee N/A Enhanced Cross Border Payroll - Stop Stop Fee N/A Enhanced Cross Border Payroll - Return Return Fee N/A Outward Telegraphic Transfers Beneficiary Advising Multi-Bank Payment Enhanced Cross Border Payroll Transaction Fee N/A Enhanced Cross Border Payroll - Stop Stop Fee N/A Enhanced Cross Border Payroll - Return Return Fee N/A Enhanced Cross Border Payment Cross Border Book Transfer Cross Border Real Time Settlement Cross Border Direct Credit Cross Border Payroll Service Fees and Price Guide 6 Product Description Charge Description Fees Enhanced Cross Border Cheque Collect from Counter Issuance Fee N/A Enhanced Cross Border Cheque Mail Issuance Fee N/A Enhanced Cross Border Cheque Courier Issuance Fee N/A Enhanced Cross Border Cheque - Stop Stop Fee N/A Enhanced Cross Border Cheque - Return Return Fee N/A COLLECTION SERVICES Product Description Charge Description Fees Inward Telegraphic Transfer Transaction Fee Free High-value Electronic Collection Transaction Fee Free Low-value Electronic Collection Transaction Fee Free Inward Telegraphic Transfer - Return Return Fee US$25 or GBP15 or EUR20 Inward Telegraphic Transfers Credit Advice (paper) Delivery Fee Free Inward Telegraphic Transfers Credit Advice (email) Delivery Fee Free Inward Telegraphic Transfers Credit Advice (fax) Delivery Fee Free Product Description Charge Description Fees Direct Debit from SCB Account Transaction Fee Free Direct Debit from 3rd Party Bank Account Transaction Fee <1m = N100, >1m = N500. Direct Debit Reject Rejection Fee NGN 50 Product Description Charge Description Fees Direct Debit Authorisation Mandate Maintenance (SCB Account) Maintenance Fee Free Direct Debit Authorisation Mandate Maintenance (3rd Party Bank Account) Maintenance Fee Free Product Description Charge Description Fees Cash Pickup Monthly Fee/ Transaction Fee Free Cheque pickup Monthly Fee/ Transaction Fee Free Product Description Charge Description Fees Bulk Cash Collection via Our Branches Monthly Fee/ Transaction Fee Free Bulk Cash Collection via Partner Banks Monthly Fee/ Transaction Fee Free Product Description Charge Description Fees Cheque Collection Local Cheque Processing - Clear Funds Transaction Fee Free Cheque Collection Local Cheque Processing - Cheque Purchase Transaction Fee Prevailing lending rate Cheque Collection Local Cheque Processing - Guarantee Credit Transaction Fee Prevailing lending rate Cheque Collection Local Cheque Processing - Rejected Item Rejection Fee NGN 50 Cheque Collection Upcountry Cheque Processing - Clear Funds Transaction Fee Free Cheque Collection Upcountry Cheque Processing - Cheque Purchase Transaction Fee Prevailing lending rate Cheque Collection Upcountry Cheque Processing - Guarantee Credit Transaction Fee Prevailing lending rate Cheque Collection Upcountry Cheque Processing - Rejected Item Rejection Fee NGN 50 Cheque Collection Direct Collection - Clear Funds Transaction Fee Free Cheque Collection Direct Collection - Cheque Purchase Transaction Fee Prevailing lending rate Cheque Collection Direct Collection - Guarantee Credit Transaction Fee Prevailing lending rate Cheque Collection Direct Collection - Rejected Item Rejection Fee Free Cross Border Cheque General Collection Services Direct Debit Services Direct Debit Authorization Mandate Pick Up Services Bulk Cash Collection LCY Cheque Collection (Cleared locally) Service Fees and Price Guide 7 Product Description Charge Description Fees Cheque Collection (FCY) - Clear Funds Transaction Fee N/A Cheque Collection (FCY) - Cheque Purchase Transaction Fee N/A Cheque Collection (FCY) - Guarantee Credit Transaction Fee N/A Cheque Collection (FCY) - Rejected Item Rejection Fee N/A Product Description Charge Description Fees Cheque Collection (FCY) - Cleared Overseas Transaction Fee USD10 or 1% whichever is higher + USD18 courier charge, GBP10 OR 1% whichever is higher +GBP 13 courier charge, EUR10 OR 1% whichever is higher + EUR 15 courier charge Cheque Collection (FCY) Cleared Overseas - Reject Rejection Fee US$0.50 Product Description Charge Description Fees Post Dated Cheque - Custody Transaction Fee NGN 1, 500 per cheque Post Dated Cheque - Discounting Transaction Fee Prevailing lending rate Product Description Charge Description Fees Retail Lockbox - Setup Setup Fee N/A Retail Lockbox - Matched Stub Transaction Fee N/A Retail Lockbox - Unmatched Stub Transaction Fee N/A Retail Lockbox - Cheques Only Transaction Fee N/A Retail Lockbox - Partial Payment Transaction Fee N/A Retail Lockbox - Data Input Transaction Fee N/A Product Description Charge Description Fees Setup Setup Fee N/A Matched Payment/Invoice Service Fee N/A Data Enrichment Service Fee N/A Product Description Charge Description Fees Virtual Account Setup Setup Fee NGN 5, 000 Virtual Account Transaction Fee Waived Product Description Charge Description Fees Packaged Collections (RCMS) - Setup/ Customisation Setup Fee Waived Packaged Collections (RCMS) - Maintenance Monthly Fee Waived Packaged Collections (RCMS) - Automatic Recon Transaction Fee Waived Packaged Collections (RCMS) - Manual Repair Transaction Fee Waived Packaged Collections (RCMS) - Reports Monthly Fee Waived LIQUIDITY SERVICES Product Description Charge Description Fees Domestic Liquidity - Per Structure Setup One time Setup Fee NGN7, 500 Domestic Liquidity - Per Account Setup One time Setup Fee Free Domestic Liquidity - Per Structure Maintenance Monthly Service Fee NGN1,500 Domestic Liquidity - Per Account Maintenance Monthly Service Fee Free Product Description Charge Description Fees Regional Liquidity - Per Structure Setup One time Setup Fee N/A Regional Liquidity - Per Account Setup One time Setup Fee N/A Regional Liquidity - Per Structure Maintenance Monthly Service Fee N/A Regional Liquidity - Per Account Maintenance Monthly Service Fee N/A Product Description Charge Description Fees Third Party Bank Sweep Setup One time Setup Fee free Third Party Bank Sweep Maintenance Monthly Service Fee free FCY Cheque Collection (Cleared locally) FCY Cheque Collection (Cleared Overseas) Post Dated Cheque Retail Lockbox Services Wholesale Lockbox Services Virtual Account Services Collections Package Fees Domestic Liquidity Services Regional Liquidity Services Third Party Bank Sweep