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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).
P.S. BTW, do you mean that "rejected" clients pay nothing at all ? This is the logical deduction from your post, right ?
And, if so, why would you ask them to pay a fee on applying ? Wouldn't it be preferable to issue your payment note
with the IBAN, when the account is opened ? It can't be used if the client does not make the payment, all the same.

Dear @GF150

Thank you for your questions.

Our account opening process involves several stages, and once the required compliance procedures are completed, customers can actively use their accounts. IBAN is an additional service we offer, and the application for an IBAN can only be initiated after the customer has been fully onboarded.

Once the IBAN is provided, the setup fee is deducted, confirming that the IBAN account is fully active and ready for use. Clients who are not approved will only be charged the initial application fee.

If you have any further questions, you can always reach out to our team via the following channels:

Live Chat at thekingdombank.com
or Send an email: [email protected]
or Book a meeting: calendly.com/meetthekingdombank/hello
or Send a Telegram message: The Kingdom Bank

Best regards,

The Kingdom Bank
 
I don’t know if this has been asked before, so apologies if I’m repeating the question. Is there any insurance on the funds in your accounts? If so, how much does it cover?

I'm planning to use you as a second option for banking.
 
Dear @dany,

Thank you for your question and interest!

We partner with a variety of providers based on our customers' eligibility and location. For example, if your account is managed through a provider in Europe, it will be governed by European regulations, including the applicable insurance coverage under those rules.

If you would like more specific details or assistance, please don’t hesitate to get in touch.

Live Chat at thekingdombank.com
or Send an email: [email protected]
or Book a meeting: calendly.com/meetthekingdombank/hello
or Send a Telegram message: The Kingdom Bank

Best regards,

The Kingdom Bank
 
the fee is a bit much. i prefer you charge this fee after account is set up and functional. but its still a but much still. how can one make profit with such offer?
You do probably need to consider that specific, higher risk businesses or businesses usually located in specific, higher-risk jurisdictions are happy to pay fees at that level.

Most likely you shall consider opening an account with European EMI or bank to be happy about opening and operational fees :)
 
You do probably need to consider that specific, higher risk businesses or businesses usually located in specific, higher-risk jurisdictions are happy to pay fees at that level.

Most likely you shall consider opening an account with European EMI or bank to be happy about opening and operational fees :)
I do understand, but its still a bit much. except they really want to keep a small circle of customers which makes more sense. I wish my business could afford such, I would definitely sign up. Also if they can give me discount or charge these fees base on my income, then im happy to pay it
 
I do understand, but its still a bit much. except they really want to keep a small circle of customers which makes more sense. I wish my business could afford such, I would definitely sign up. Also if they can give me discount or charge these fees base on my income, then im happy to pay it
Without prejudice, that is a certain type of "offshore" institution which caters, as you pointed, to narrow circle of customers who have specific needs and issues, which you, most likely, don't have, or, shall you have one, should be able to afford that type of banking and fees.

It's unlikely you'd be able to get discount or negotiate fees based on income as running bank under Dominica offshore banking license is costly venture itself, I'm afraid.
 
I do understand, but its still a bit much. except they really want to keep a small circle of customers which makes more sense. I wish my business could afford such, I would definitely sign up. Also if they can give me discount or charge these fees base on my income, then im happy to pay it
They just need to pay for compliance. It is what it costs. If you have a legit business, you can go to any bank and have an account asap for free. If your business is high risk, why should I pay with my money for your increased compliance cost?
 
Without prejudice, that is a certain type of "offshore" institution which caters, as you pointed, to narrow circle of customers who have specific needs and issues, which you, most likely, don't have, or, shall you have one, should be able to afford that type of banking and fees.

It's unlikely you'd be able to get discount or negotiate fees based on income as running bank under Dominica offshore banking license is costly venture itself, I'm afraid.
Actually, I do have specific need for this account which is why im here. My business operates in crypto space, but not as an exchange, but just as a mere p2p facilitator within licensed and regulated centralized exchanges. So i definitely need them
 
Unfortunately, IMHO, there's very slim chance @The Kingdom Bank would be interested in accepting such business even if you agree to pay the
hmmm. then where are all the merchants in binance, bybit etc getting bank accounts? besides the business is not even high risk the way some banks see it. I assume they just do not understand it. It is one of the most safest busimess out there with KYC and AML in place. its so strange
 
Hello,

Thank you for your interest in our services. We are happy to assist with any questions you may have regarding our fees, country coverage, business types, or onboarding process.

Please don’t hesitate to contact our support team for detailed information through any of the following channels:

Live Chat at thekingdombank.com
or Send an email: [email protected]
or Book a meeting: calendly.com/meetthekingdombank/hello
or Send a Telegram message: The Kingdom Bank

Best regards,

The Kingdom Bank
 
Hello,

Thank you for your interest in our services. We are happy to assist with any questions you may have regarding our fees, country coverage, business types, or onboarding process.

Please don’t hesitate to contact our support team for detailed information through any of the following channels:

Live Chat at thekingdombank.com
or Send an email: [email protected]
or Book a meeting: calendly.com/meetthekingdombank/hello
or Send a Telegram message: The Kingdom Bank

Best regards,

The Kingdom Bank
Hi,

my application is currently under review
 
Hi,

my application is currently under review
I don't think it's going to be faster posting it here, but now you did, please post here once you get approved and account is operative.