to many people it would create an impression that you're going to assess their wealth in terms how much you can take.
That's good news. Is there any discount for OCT members on the setup fee ?
Hi @myshufflemix,
Why should you! It's nigh on free. Over $2 000 just for an application, whatever the outcome may be, right ?
Strong support. Kindly state your services and the price therefor and let potential clients decide.
| Account Opening and Maintenance Fees | Pricing Offer |
| Application Fee (Refundable) | € 1,500.00 |
| Set Up Fee | € 350.00 |
| Maintenance Monthly Fee | € 150.00 |
| Transaction Fees | Pricing |
| SEPA Pay-in (B2B) | € 15.00 + 0.25 % |
| SEPA Pay-out (B2B) | € 15.00 + 0.05 % |
| SWIFT Transfer Pay In with only multicurrency IBAN (Euro.GBP.USD) | € 50.00 + 1.00 % |
| SWIFT Transfer Pay out (USD. GBP. EUR) (B2B) | € 50.00 + 1.00 % |
| Crypto to Fiat Exchange Fee | 1.50 % |
| Fiat to Crypto Exchange Fee | 1.50 % |
| Local Pay out (PLN. AUD. CHF. DKK. NOK. SGD. HKD. CAD. BRL +) (B2C) | € 2.00 + 2.00 % |
| Additional Fees | Pricing |
| Transfer Refund/Cancelation Fee (SEPA) | € 250.00 |
| Administration Fee (i.e. account confirmation letter etc.) | € 250.00 |
| Account reactivation fee | € 500.00 |
| Mt103 Request (> T+5) | € 100.00 |
| lnternal Transfers (Kingdom Bank Users) | Free |
| Monthly minimum Commitment Fee This fee includes SEPA transaction costs. If the sum is not reached. the fee must be paid regardless. | € 0.00 |
That's what I was saying. Plus, don't forget to ask what they mean by "refundable" because it rather looks to be a senseless trap. If it's refundable, then why demand it ? If it's refundable only for those who are successfully on-boarded, then many will be rejected and pay nevertheless. That could be a fine business. All in all, very expensive....
Dear @bountymounty,
Dear @Houdini,
Although the Kingdom Bank actually addresses @Houdini, I beg to express my gratitude for their confirming that, eventually, the setup fee isn't refundable. Now, would they be so kind as to confirm that, once the IBAN issued, that means without any possible doubt that the account is approved and opened ? In other words, the client has the full guarantee to have their account up and working ? This is a sensible question because there are many EMIs out there that will issue your IBAN instantly but will onboard you months later (or possibly never and without notice).
