Commissions and Charges for corporate clients

Accounts
Account opening Free
Annual account maintenance fee 200 EUR
(50 EUR charged per quarter)
Account closureFree
Corporate file update/Account renewal100 EUR
Periodical statements
(as per General Terms and Conditions for account opening)
Free
Payments/Transfers
Inward SWIFT/SEPA transfers Free
Outward SWIFT transfers
Charge option SHARED
0,15% (min. 35 EUR, max. 250 EUR)
Payments received before cut-off time are executed the same day at no extra charge
Additional fee for outward SWIFT transfers with charge option OUR 10 EUR (up to 10.000 EUR)
35 EUR (from 10.000 to 50.000 EUR)
60 EUR (over 50.000 EUR)
Outward SWIFT transfers in favor of VTB24 clients via RCB Online Banking 10 EUR
Manual processing of internal transfers (to other clients of the Bank) received on paper/fax 8 EUR
Manual processing of outward transfers received on paper/fax 20 EUR
Internal transfers
(between own accounts within the Bank)
Free
Internal transfers through RCB Online Banking Free
Same day payment cut-off time
(Cyprus time)
Till 13:00 (for EUR, GBP and RUB),
till 16:00 (for USD)
Outward SEPA transfers
(up to 50.000 EUR)1
Value date: T+1 (provided that payment is received by the Bank before official cut-off time). Charge option only SHARED
5 EUR per transfer (up to 5.000 EUR)
8 EUR per transfer (over 5.000 EUR)
Creation or amendment of SEPA Direct Debit 5 EUR
Execution of SEPA Direct Debit Free
Failed execution of SEPA Direct Debit
(e.g. insufficient funds)
4 EUR
Creation or amendment of a standing order2 6 EUR
Cash transactions
Cash deposits Free for EUR
0,5% for other currencies
(min. 5 EUR)
Cash withdrawals Free for EUR (up to 10.000 EUR)
0,1% for EUR (over 10.000 EUR)
0,5% for other currencies (min. 5 EUR)
Cash FX fee (per transaction) 0,5% (min. 5 EUR, max. 35 EUR)
Transactions with coins
(deposit/withdrawal/exchange)
1% for amounts over 50 EUR
(min. 3 EUR)
Communication charges
Additional statement or SWIFT
(by fax or e-mail)
4 EUR
Investigations (inward and outward)
up to 30 days
50 EUR
Investigations (inward and outward)
over 30 days
70 EUR
Courier in Cyprus 10 EUR minimum charge
Courier abroad 35 EUR minimum charge
Postages in Cyprus 1 EUR minimum charge
Postages for abroad 2 EUR minimum charge
Other services
Bank reference letter 100 EUR
Auditor confirmation 80 EUR
Hold mail 400 EUR
(100 EUR charged per quarter)
RCB Online Banking Free
First issued OTP token Free (1 token per client)
Additional/replacement of OTP token 10 EUR each
Display card token fee 50 EUR3
Test key codes 100 EUR (charged annually)
Cards fees and parameters

Credit VISA card Debit VISA card
Main card’s annual fee 50 EUR 50 EUR
Supplementary card's annual fee 50 EUR 50 EUR
Urgent card and PIN production (next business day) 10 EUR 10 EUR
Card re-issue/replacement 50 EUR 50 EUR
Card and PIN mailing to client’s address (by courier) 70 EUR 70 EUR
Annual interest rate 10% Not applicable
Annual interest rate on credit card during the grace period (up to 50 days) 0% Not applicable
Monthly interest on credit not repaid on time 2% Not applicable
Commission for exceeding the established card’s credit limit 2% on excess amount Not applicable
Commission for cash withdrawals from the ATMs of the Bank Free Free
Commission for cash withdrawals from the ATMs of other Banks in Cyprus 2% (min. 2 EUR) 2% (min. 2 EUR)
Commission for cash withdrawals from the ATMs outside Cyprus 3% (min. 3 EUR) 3% (min. 3 EUR)
Commission for cash withdrawals from the cash points of other Banks 3% (min. 3 EUR) 3% (min. 3 EUR)
Foreign exchange commission
(for non-Euro transactions)
2,5%
on transaction amount
2,5%
on transaction amount
SMS-Notice Free Free
Daily cash withdrawal limit
(set by default and may be changed upon client request)
1.000 EUR 1.000 EUR
Daily cash withdrawal limit from the ATMs of the Bank 1.000 EUR 1.000 EUR
Daily transaction limit
(set by default and may be changed upon client request)
20.000 EUR 20.000 EUR
Daily limit for card not present transactions (internet purchases and other card not present transactions) - set by default and may be changed upon client request 10.000 EUR 10.000 EUR
Monthly limit for card not present transactions (internet purchases and other card not present transactions) for сards with no SMS-Notice service activation - set by default and may be decreased upon client’s request 200 EUR 200 EUR
Cheques and bankers’ drafts
Clearing of a cheque/bankers’ draft (drawn upon a local bank in Cyprus and issued in Euro)
Clearing of a cheque Free
Clearing of a bankers’ draft Free
Special presentation 20 EUR
Issue of a chequebook
Issue of a chequebook
(per chequebook)
10 EUR
Issue of a special chequebook
(customised logo)
Printing cost + stamps
+ supervision cost + 20 EUR
Issue of a bankers’ draft
Issue of a bankers’ draft in Euro 30 EUR
Stopping payment of a cheque/bankers’ draft
Stop payment request 20 EUR
Cancellation of a stop payment request 20 EUR
Cheques which fail the clearing process/return of cheques
Return of an RCB cheque for insufficient funds
(charged to the issuer of an RCB cheque)
50 EUR
Return of an RCB cheque as a postdated cheque
(charged to the issuer of an RCB cheque)
8 EUR
Return of an RCB cheque for other reasons (charged to the issuer of an RCB cheque) 8 EUR
Return of an RCB cheque after a failed attempt for any reason
(charged to the issuer of an RCB cheque)
8 EUR
Cheques drawn upon other local bank and deposited with RCB which fail to clear (charged to the beneficiary) Free
Bank guarantees
Issue of bank guarantee on cash covered basis 0,083% monthly, min. 0,25%
Issue of bank guarantee within a credit limit 0,15% monthly, min. 0,45%
Extension of bank guarantee on cash covered basis 0,083% monthly
Extension of bank guarantee within a credit limit 0,15% monthly
Amendment of bank guarantee 50 EUR (per amendment)
Cancellation of bank guarantee before approval 20 EUR
Bank guarantee advising 0,1% min. 50 EUR, max. 100 EUR
Advising an amendment of bank guarantee 50 EUR (per amendment)
Letters of Credit
Issue of letter of credit on prepaid or cash covered basis 0,067% monthly, min. 0,2%
Issue of letter of credit within a credit limit 0,15% monthly, min. 0,45%
Extention of letter of credit on prepaid or cash covered basis 0,067% monthly
Extention of letter of credit within a credit limit 0,15% monthly
Amendment of a letter of credit 50 EUR (per amendment)
Cancellation of a letter of credit before approval 20 EUR
Letter of credit advising 0,1% min. 50 EUR,
max. 100 EUR
Handling of documents
(examination - under a letter of credit nomination)
0,25% min. 250 EUR,
max. 1000 EUR
Discrepant documents under a letter of credit 80 EUR
Advising an amendment of letter of credit 50 EUR (per amendment)
Custodian services
Maintenance of custody account (portfolio)
Safe-keeping charge
(charged quarterly)4
0,15% p.a. (min. 100 EUR per year)
Monthly maintenance of segregated account for client with sub-custodian (Euroclear, Clearstream, VTB),
per sub-custodian account
Monthly maintenance is paid based on individual invoices
Custodian transfers
Transfer of securities DVP or FOP to/from external custody 50 EUR
Change or cancellation order in external custody 15 EUR
Corporate actions (CA), taxation
Forwarding notifications of CA obtained from sub-custodians/issuers to a client Free
Client initiated requests for information on CA to a sub-custodian 50 EUR per request
CA initiated by the issuer
e.g. additional issue/exchange of securities, repurchase after liquidation, liquidation etc.
Free
CA/disclosures to the issuer at the client’s discretion for request: capital increase, IPO, exchange offer, conversion, exercise of warrants, optional dividend, reinvestment funds and other 50 EUR per instruction
CA at the client's discretion for voting instructions 50 EUR per voting instruction
Certification of client’s holdings for relevant markets through
sub-custodian
50 EUR per certification
Assistance in obtaining tax relief under a Double Taxation Treaty directly from an issuer Charged individually per client’s request on a case by case basis,
min. 50 EUR, max. 250 EUR
Other custodian services5
Manual processing of custodian instructions received on paper/fax 20 EUR
Transfer of income to a client’s account to third banks Charged as per payments/transfers commissions
Obtaining statement from external custodian upon request 50 EUR per statement
Additional portfolio statement
(any statement requested by client in addition to monthly portfolio statement)
5 EUR per additional statement
Brokerage fees
Bonds
Less than 10m USD6 0,125%
(min. 150 USD)6
More than 10m USD6 0,0625%
Equities
Less than 100.000 USD6 0,25%
(min. 200 USD)6
100.000 — 999.999 USD6 0,20%
1m — 10m USD6 0,15%
More than 10m USD6 Individual
REPO for bonds and equities
For period less than 45 days 0,25% p.a.
For periods 45-180 days 0,50% p.a.

All fees are quoted in Euro. In case of insufficient funds on a client’s Euro account, the Euro equivalent will be charged from the client’s account in other currencies at Bank’s exchange rate.

In case the client’s account currency differs from Euro, the fees will be charged in Euro equivalent at Bank’s exchange rate.

Where a fee or charge is levied in a currency other than the currency of the account, the above commissions and charges are converted into the relevant currency equivalent at the Bank’s exchange rate.

1SEPA area: EU countries, Norway, Lichtenstein, Iceland, Switzerland and Monaco.
2All transfers executed as per a standing order will be charged according to the Bank’s Commissions and charges.
3Free for clients with a balance in current account over 1m EUR or equivalent in applicable currency.