Understanding FNB International Banking Fees

Foreign exchange transactions and international banking services come with a range of FNB International Banking fees and charges. It’s essential for individuals and businesses engaged in cross-border financial activities to understand these FNB International Banking fees in order to make informed decisions. In this comprehensive guide, we’ll break down the standard fees for FNB’s foreign exchange transactions, as well as insights into specialized services and exchange control applications.

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Inward Payments – SWIFT (FNB International Banking fees)

When receiving payments from abroad, it is important to be aware of the following FNB International Banking fees:

• Commission: FNB charges a commission of 0.75% of the Namibian Dollar (N$) value, with a minimum charge of N$131.00 and a maximum charge of N$846.00.

Outward Payments – SWIFT, CMA Payments

Sending funds internationally also incurs charges, including:

• Commission: A flat commission of N$155.00 and 0.75% of the N$ value. The minimum charge is N$162.00, while the maximum charge caps at N$993.00.
• Unpaid/Returned: In the event of unpaid or returned payments, a fee of N$625.00 applies.

CMA Payments (FNB International Banking fees)

For CMA payments, the following FNB International Banking fees may apply:

• Commission: 0.03% of the N$ value, with a minimum charge of N$30.00 and a maximum charge of N$150.00.

Foreign Notes

Dealing with foreign currency notes involves the following FNB International Banking fees:

• Commission (Buy): Free of charge.
• Commission (Sell): A charge of 2.05% of the value applies.

Exchange Control

Navigating exchange control processes entails the following FNB International Banking fees:

• Normal Exchange Control Application: N$1,202.00
• Urgent Applications: N$1,881.00
• Blanket Authorities: N$1,986.00
• Introduction of Foreign Loans: N$1,600.00
• Complex Application: N$2,250.00
• BoN Meeting (Per Hour): N$1,700.00
• Attestation of Form F178:
  • Attestation: N$57.00
  • 1st Follow-Up Letter: N$70.00
  • 2nd Follow-Up Letter: N$125.00
• Attestation of N.E.P.:
  • Attestation: N$57.00
  • 1st Follow-Up Letter: N$70.00
  • 2nd Follow-Up Letter: N$125.00

Foreign Currency Account (FNB International Banking fees)

Inward and Outward Payments

Managing a foreign currency account involves the following charges:

• Inward Payments:
  • Commission: Free of charge
• Outward Payments:
  • Commission: N$155.00 and 0.75% of the N$ value. The minimum charge is N$162.00, while the maximum charge is N$993.00.
  • Unpaid/Returned: N$625.00

Foreign Notes (FNB International Banking fees)

When dealing with foreign notes in a foreign currency account:

• Deposits: Free of charge
• Sales: A commission of 2.05% of the value applies.

Understanding the fee structure for international banking services is crucial for anyone involved in global financial transactions. By familiarizing themselves with these FNB International Banking fees, individuals and businesses can effectively plan and manage the costs associated with cross-border financial activities. For more specialized or structured foreign exchange products and services, including FNB exchange control advice and structuring, individuals are advised to visit their nearest FNB branch or contact FNB via phone.

This guide aims to provide clarity on the standard fees associated with FNB’s foreign exchange transactions, offering individuals and businesses valuable insights into the costs involved in international banking activities.

Frequently Asked Questions (FAQs) About FNB International Banking Fees

1. What are the fees associated with receiving international payments through FNB?

When receiving payments from abroad using FNB International Banking services, a commission of 0.75% of the Namibian Dollar (N$) value is charged, with a minimum fee of N$131.00 and a maximum fee of N$846.00.

2. What charges apply to outward international payments facilitated by FNB?

For outward payments processed through SWIFT or CMA, FNB applies a flat commission of N$155.00 and 0.75% of the N$ value. Additionally, in the case of unpaid or returned payments, a fee of N$625.00 is applicable.

3. What fees are associated with CMA payments through FNB International Banking?

For CMA payments, a commission of 0.03% of the N$ value is charged, with a minimum fee of N$30.00 and a maximum fee of N$150.00.

4. Are there any fees for dealing with foreign currency notes in international transactions?

When dealing with foreign currency notes, there is no commission for buying, but there is a charge of 2.05% of the value for selling foreign notes.

5. What are the fees for exchange control processes with FNB International Banking?

Exchange control application fees with FNB International Banking include charges for normal applications, urgent applications, blanket authorities, introduction of foreign loans, complex applications, and attendance at BoN meetings. Additionally, there are fees associated with the attestation of Form F178 and N.E.P.

6. What charges apply to managing a foreign currency account in terms of inward and outward payments?

Inward payments into a foreign currency account are commission-free, while outward payments incur a commission of N$155.00 and 0.75% of the N$ value. In the case of unpaid or returned outward payments, a fee of N$625.00 applies.

7. What fees are involved in handling foreign notes within a foreign currency account?

When managing foreign notes within a foreign currency account, there are no fees for deposits, but there is a commission of 2.05% of the value for sales.

8. Where can I seek more specialized advice on FNB exchange control and structured foreign exchange products and services?

For specialized foreign exchange products and services, including FNB exchange control advice and structuring, individuals are advised to visit their nearest FNB branch or contact FNB via phone for personalized assistance.

Understanding the fee structure for international banking services provided by FNB is essential for anyone engaged in cross-border financial activities, enabling informed decision-making and effective management of associated costs. For more detailed information or tailored guidance, individuals and businesses are encouraged to utilize FNB’s expert resources for comprehensive support.

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