Transcription
Pricing 2020(in line with CBN Guide to Bank Charges by Banks and other financial institutions effective 1 January 2020)TARIFFTRANSACTIONAL ACCOUNTMAINTENANCE CHARGESPERSONALBUSINESS
Maintenance Fee: Pay as you goAll Personal, Business and Corporate Currentaccounts (current account maintenance fee)N1 per mille on customer-induced debit transaction excluding transfers to accounts in the samename as stipulated by CBNMaintenance Fee: BundledHYCA GOLD (Executive Only)HYCA PLATINUM (Private/Platinum Only)A minimum balance of N500,000 is expected toqualify for free current account maintenance feeon this account. The account holder is charged afixed fee of N2,500 flat if minimum balance is notmaintained.A minimum balance of N1,000,000 is expected toqualify for free current account maintenance feeon this account. The account holder is chargedN1 per mille if the minimum balance is notmaintained.BizSmart Account (Enterprise Banking Only)CAM fee of N1 per mille if the daily balanceis less than N50,000 and more than 4 overthe counter withdrawals in a month. Thisdoes not include transfer via internetbanking, NIBSS, NEFT etc.Zero current account maintenance fee ifyou keep a minimum balance of N50,000 inthe account and do not withdraw more than4 times per month at a branchNo Interest payment, zero CAM fee ifminimum daily balance of N500,000 ismaintained. Account would be chargedaccount maintenance fee of N1 per millefor the month if the minimum daily balanceis less than N500,000 in that monthBizSmart Plus Account (Enterprise Banking Only)FORFEITUREHYCA GoldN2,500 flat charge if balance falls belowN500,000HYCA PlatinumN 1/mille if balance falls below N1million
BizSmartforfeiture of interest upon daily balance lessthan N50,000 and more than 4 over thecounter withdrawals in a month.BizSmartPlusNilCommission on Withdrawalsfrom Domiciliary Accounts(whether savings or currentaccount)STATEMENTS0.05% of transaction value or 10, whichever isLowerMonthly bank statements (mandatory)Interim bank statements (on customer's request)LENDINGNo ChargeMaximum N20 per pageNo ChargeMaximum N20 per pageLocal Currency LoansNegotiableMortgage FinancingNegotiableInterest Rate - Foreign Currency LoansNegotiableInterest on Authorized ODNegotiableEquipment LeasingNegotiableDiscountable Instruments e.g. Usance bill, Bankers'Acceptance, Commercial Papers, Promissory Notes etc.NegotiableUnauthorized OverdraftNot permissible except overdraft occasioned by loanand advances repayment and interest. Where thisoccurs, Penal Rate shall apply
Drawing against UnclearedEffectsNegotiablePenal; Rate for laterepayment of loans,authorized overdrafts,micro leases,microfinance-related hirepurchase and otheradvances/facilities,including unauthorizedoverdraftLending FeeMaximum of 1% flat per month on unpaid amount inaddition to charging current rate of interest onoutstanding debt (without prejudice to the provisions ofthe Prudential Guidelines on the limitation of accruals)NB: Total lending fees shall not exceed 2%Insurance PremiumExact Premium (customer to choose from a list of at least 3 insurance companies to berecommended by the bank)Credit Reference/Search Report (applicable to onlycustomer-induced credit reference reports)Management feeCost recovery (For credits not granted as a result of negative credit report, full costrecovery should be borne by the customer)Negotiable subject to maximum of 1% of the principal amount disbursed (one off charge).Facility Enhancement feeNegotiable subject to maximum of 1% of the additional amount disbursed (one offcharge).Negotiable, subject to a maximum of 0.5% of the outstanding amount being restructured(one off charge).Negotiable, subject to a maximum of 1% on the undisbursed amount (one-off charge)Restructuring Fee (restructuring at the instance ofcustomer)Commitment FeeAdvisory/Consultancy feeCharges for Consortium LendingAgency FeeManagement FeeNegotiable (only applies where there is a written advisory/consultancy agreementbetween the bank and the customer)NegotiableNegotiable subject to a maximum of 1% ofprincipal amount (one–off charge)
Commitment/Non-Drawing FeeNegotiable subject to a maximum of 0.5%of the undisbursed amount (one-offcharge)Commission charges for underwriting servicesNegotiableCARDSDebit CardIssuance Fee (for all card types)N1,075 (VAT inclusive)Replacement/Renewal fee (For lost/damaged/expiration ofcard)N1,075 (VAT inclusive)Card Maintenance FeeForeign Currency Denominated debit/credit cards 10 per annum. (or its equivalent in Naira)Naira debit/credit cardN50 per quarter (applicable to savings accounts only)Mastercard Debit international withdrawal limitATM Cash withdrawal 1,000E-CommercePOS PurchaseCREDIT CARDLocal CurrencyCredit Card Issuance (New Charge). For all card typesRe-Issuance/Replacement (for lost/damaged/cardexpiration)Interest chargesCash withdrawal:Own ATM/On-us (withdrawal from issuing bank's ATM)Other local ATM/Not on-us (other bank's ATM) in Nigeria.N1,075 (VAT inclusive)N1,075 (VAT inclusive)2.5% per month (Naira) 2.5% per month (USD)No chargemaximum N35 after the third withdrawal within the same month
International withdrawals (per transaction) whetherdebit/credit cardMerchant Service Commission (MSC):General Merchant (Including Domestic, InternationalTravels and Entertainment)Merchant Service Commission (MSC):General Merchant (Including Domestic, InternationalTravels and Entertainment)Exact cost by international acquirer (cost recovery)0.50% of transaction value but not more than N1,0000.50% of transaction value but not more than N1,000TARIFFTRANSACTIONAL ACCOUNTSCredit Interest RateAll Personal, Business and Corporate CurrentaccountsMaintenance Fee: BundledPERSONALHYCA GOLD (Executive Only)a). N500,000 -N999,999.99 is 0.1% per annumBUSINESSNegotiableb). N1, 000,000-N4,999,999.99 is 0.25% per annumc). N5,000,000 and above is 0.5% per annumHYCA PLATINUM (Private/Platinum Only)a) N1,000,000 -N4,999,999.99 is 0.25% per annumb) N5,000,000 and above is 0.5% per annumBizSmart Account (Enterprise Banking Only)0.25% per annum if daily balance isabove or equal to N50,000BizSmart Plus Account (Enterprise BankingOnly)SAVINGS ACCOUNTSNilPure Save Account (Tier 3 Savings)forfeiture of interest upon 5 withdrawalsSwift Save Plus Account (Tier 2 Savings)Minimum of 10% of MPR per annum. (not applicable ifa customer makes more than 4 withdrawals ina month)FORFEITURE
Swift Save Account (Tier 1 Savings)Blue-Edge Savings AccountCHESS Account10% of MPR per annum (No interest forfeiture)10% of MPR 1 % per annum (not applicable if acustomer makes more than 4 withdrawals in a month)NILforfeiture of 1% interest upon more than1 withdrawal in a quarter and forfeiture ofsavings rate if there are more than 4withdrawals in a monthMaxyield Savings Account10% of MPR 0.5% per annum (applicable to customerwith minimum daily balance of N100,000)1.15% applies to minimum daily balanceless than N100,000 or more than onewithdrawal in a month. Forfeiture ofinterest upon 5 withdrawalsFOREIGN CURRENCY ACCOUNTSCommission on withdrawals from DomiciliaryAccountsCredit Interest rate0.05% of transaction value or 10, whichever is lowerNegotiableINVESTMENT/INTERMEDIATION CHARGESTime Elapsed (0 to 25% of investment tenor)Time Elapsed (26 to 50% of investment tenor)100% penalty on interest75% penalty on interestTime Elapsed (51 to 75% of investment tenor)50% penalty on interestTime Elapsed (76 to 90% of investment tenor)Time Elapsed (91 to 100% of investment tenor)25% penalty on interestNo penalty on interestPlease refer to Global Market for Fixed Deposit ratesINTERNAL TRANSACTIONS (WITHIN NIGERIA)Bank DraftsCustomerCurrent/Transactional AccountCurrent Account: N300; Savings Account: N500Non-CustomerN500 0.1% of Draft value
Draft RepurchaseNo chargeSpecial Clearing of ChequesNegotiableStanding Order Charge (In-Branch) at the instance of the customerStanding Order within Stanbic IBTC BankStanding Order Charge (In-Branch) at the instance of the customerStanding Order to other Banksmaximum of N50 per transactionDirect DebitSame as cost of platform usedFailed Direct DebitDue to reasons other than the account being unfunded - No chargeDue to the account being unfunded - 1% of amount or N5,000 whichever is higher (to be borne bythe drawer only)N500 per orderStopped ChequesThird-party ChequeIndemnitiesPurchase/sale of Treasury Bills forcustomersProcessing feeCustodian feeSettlement of trade via S4To be discouraged – However, negotiable for non-clearingfinancial institutions e.g. Micro-financebanks,N100 per formIn line with existing Guidelines on Custodianship on Money Market and Other Fixed IncomeInstruments (applicable on Treasury bills purchase)Cost recoveryTARIFFINTERNET BANKING/SME ONLINE/BUSINESS ONLINESign-up/registrationHardware TokenHardware Token replacement for loss or at expirationPERSONALBUSINESSSoftware Token – One Time Password (OTP)No charge. But maximum cost recovery if sent via SMSNo chargeCost recovery subject to a maximum charge of N2,500Cost recovery subject to a maximum charge of N2,500
Bills Payment (Including Bills Payment through other Echannels)Negotiable subject to a maximum of N500 per beneficiary payable by the senderTransfers to other banks (Electronic Funds Transfer:)Below N5,000 - N10 plus VATN5,001 to N50,000 - N25 plus VATabove N50,000 - N50 plus VATRTGSN950 plus VATBulk Payments (e.g. Salaries, Dividends etc.)Negotiable subject to a maximum of N15 per beneficiary payable by the sender plus VATTransaction AlertsSMS alert (Mandatory).Cost Recovery (on customer induced transactions). No Charge (for Bank Inducedtransactions).Email notificationNo ChargePIN Reissue/ResetUse of Unstructured Supplementary Service Data(USSD)No ChargeCurrent NIP Charges applyPurchase with Cash-BackN100 per N20,000 subject to cumulative N60,000 daily withdrawalPAYMENT AND CLEARING CHARGESCheque-Books/Forms:Cheque Book (Transactional) - 50 leavesN1,500 VAT / Cost Recovery
Cheque Book (Transactional) - 100 leavesCounter-cheque issuanceNon-clearing withdrawal cheques/Slips - 50 leavesN3,000 VAT / Cost RecoveryN50 per leafletN1,500 VAT / Cost RecoveryNon-clearing withdrawal cheques/Slips - 100 leavesN3,150 (VAT inclusive) /or Cost RecoveryStop cheque orderPOINT OF SALE (POS) MERCHANT SERVICE FEESN537.50 (VAT inclusive)General Merchants and AirlineOperators:(Supermarkets, departmental stores, discounthouse, confectionery and general contractors, Apparel,clothing shops, pharmacy stores, Airline operators,schools and educational services, medical services andhealth practitioners, telecommunication company andutility service providers)Hotels & Guest Houses (Hotels, Lodges and guesthouses)1. Interswitch - 0.5% capped at N1,000.002. Unified Payment Local - 0.5% capped at N1,000.00 except for Airline operators is 0.5%without cap.3. Unified Payment International - 3% no cap.Airline (Travel Agencies)1. Interswitch - N200.00 Flat2. Unified Payment Local - 0.5% without cap3. Unified Payment International - 3% no capFast Food, Churches and NGO (Restaurants and Bar,Religious organizations and Non-Governmentalorganizations)1. Interswitch - 1.25% capped at N100.002. Unified Payment Local - 0.5% without cap3. Unified Payment International - 3% no capPetrol Stations (Fuel station)1. Interswitch - 0.6875% without cap2. Unified Payment Local - 0.6875% without cap3. Unified Payment International - 3% no capWholesale (these are merchants that sell their goods inwholesale to retailers.)This category has been removed1. Interswitch - 1.25% without cap2. Unified Payment Local - 2% without cap3. Unified Payment International - 5.5% no capOVER-THE-COUNTER CASH TRANSACTION CHARGE (CASHLESS Policy)Over-the-counter cash deposit
Over-the-counter cash depositsOver-the-counter cheque deposit (own account)Over-the-counter cash withdrawalOver-the-counter cheque withdrawal (own account)Over-the-counter cheque withdrawal (Third partyaccount)TARIFFMOBILE MONEYCash-in (Deposit into Mobile Money OperatorWallet)On-Us Agent (borne by customer)Off-Us Agent (borne by customer)2% for transactions above 500,000No Charge.3% for transactions above 3,000,0003% of transactions aboveN500,000No Charge.5% of transactions above 3,000,000No Charge but amounts above N150,000 must be presented through clearingPERSONALBUSINESSN100Minimum of N50 subject to 1.5% of transaction value or N500, whichever is lowerIntra-Scheme Money TransferSending to Account HolderMinimum of N50 subject to 1% of transaction value or N300, whichever is lowerSending to Non-Account HolderMinimum of N50 subject to 1.5% of transaction value or N500, whichever is lowerInter-Scheme Money Transfer (from one mobilemoney operator to another mobile moneyoperator or financial institution)Minimum of N50 subject to 1.5% of transaction value or N500, whichever is lowerBill PaymentN100
Cash-outNo chargeAccount OpeningNo chargeBVN VerificationNo chargeCash-in (Deposit into MPO Wallet)Customer Initiated Direct Debit from BankAccountIntra-Scheme Money TransferTo Account HolderN20N20N100N100To Non-Account HolderMinimum of N50 subject to 1.5% ofMinimum of N50 subject to 1.5% of transaction value ortransaction value or N500, whichever is N500, whichever is lowerlowerInter-Scheme Money Transfer (from one mobilemoney operator to another mobile moneyoperator or financial institution)Bill PaymentN100N100N100N100Cash-out (to be borne by sender)Minimum of N50 subject to 1% ofMinimum of N50 subject to 1% of transaction value ortransaction value or N500, whichever is N500, whichever is lowerlowerNo chargeNo chargeAccount OpeningBulk PaymentsTo Account HolderTo Non-Account HolderOTHER FEES/PENALTY CHARGESMinimum of N100 subject to 1% oftransaction value or N300, whichever islowerMinimum of N150 subject to 1% oftransaction value or N500, whichever islowerMinimum of N100 subject to 1% of transaction value orN300, whichever is lowerMinimum of N150 subject to 1% of transaction value orN500, whichever is lower
Reactivation of accountsNo ChargeClosure of Account (savings, current, ordomiciliary)No ChargeLetter of Discharge for facilities repaid bycustomerNo chargeSearch at Corporate Affairs Commission (CAC),land registry, legal search etc.Cost recoveryObtaining Certified True Copy (CTC)Cost recoveryPerfection of security for credit facilities.Cost recoveryConfirmation of overseas enquiries tocorrespondent bank at the instance of thecustomerIntermediation fees for commercial papers (to beborne by the issuer)N500 plus Cost of Postage (if applicable)NegotiableReturned chequesDue to reasons other than the account beingunfundedDue to the account being unfundedStamp duty (excluding salary accounts)No charge1% of amount or N5,000 whichever is higher (to be borne by drawer only). This is without prejudiceto the Dud Cheque ActN50.00 per cash deposit from N10,000 upward. Note: Provided that money paid into one's ownaccount or transferred electronically between accounts of the same owner by the owner within thesame bank shall not be chargeable to duty.
Deposits held as collateralNegotiable subject to minimum of 10% of MPRCOMMISSION ON BONDS GUARANTEES & INDEMNITIES,Bid bond/Tender Security/Bid SecurityNegotiable subject to a maximum of 1% of the Bond value for the firstyear and 0.5% on subsequent years on contingent liabilitiesPerformance bond (chargeable from date of contingent liability)Negotiable subject to a maximum of 1% of the Bond value for the firstyear and 0.5% on subsequent years on contingent liabilitiesAdvance Payment Guarantee (APG) (chargeable from date of contingentliability)Negotiable subject to a maximum of 1% of the APG value for the first yearand 0.5% on subsequent years on contingent liabilities. Note: Fees shallbe charged based on the value of advance payment received by thebank.Bank GuaranteeNegotiable subject to a maximum of 1% of the Guaranty value for the firstyear and 0.5% on subsequent years on contingent liabilitiesOther Bonds, Guarantees and IndemnitiesNegotiable subject to a maximum of 1% of the value for the first year and0.5% on subsequent years on contingent liabilities1.2.3.4.5.6.Notes:All fees are inclusive of 7.5% VATInterest payments excludes Withholding TaxInterests are calculated and accrued daily and paid at the end of the month as applicableCurrent account maintenance fee is calculated and accrued daily and charged at the end of the monthMPR is Monetary Policy Rate as advised by CBNWhere charges are stipulated as “negotiable”, customers have a right to initiate negotiation with the Bank for the appliable charge
BizSmart Plus Account (Enterprise Banking Only) No Interest payment, zero CAM fee if minimum daily balance of N500,000 is maintained. Account would be charged account maintenance fee of N1 per mille for the month if the minimum daily balance is less than N500,000 in that month FORFEITURE HYCA Gold N2,500 flat charge if balance falls below N500,000 HYCA Platinum N 1/mille if balance falls below .
