INDIA INTERNATIONAL BANK MALAYSIA BERHAD ( D)

Transcription

1 Treatment of GST on the Bank s Fees and Charges No Channel Transaction Type Fees and Charges Type of 1. Credit Administration Loan Financing Loan Processing fee Commitment Fee OS-Out of Scope (Punitive in nature) 2. Trade Finance (Exports) Bills for Collection (including those under Letter of Credit) Collection/Handling Commission 0.1% flat Minimum RM50 Maximum RM150 (Note 1) (maximum RM500 for RM bills) Bills Purchased/Negotiation/Discount (including those under Letter Credit i.e. Outward Bills, Credit Bills Negotiation & ECR post-shipment) Collection/Handling Commission 0.1% flat Minimum RM50 Maximum RM150 (Note 1) (maximum RM500 for RM bills) Bills under Letter of Credit Discrepant documents Non Discrepant documents Document Checking Fee RM100 RM50

2 For foreign currency bills settled in foreign currency charges in lieu of exchange will be imposed Charges in lieu of Exchange-0.1% (Flat RM50 for Confirmed Letter of Credit) Existing customers Minimum RM50 Maximum RM300 Non-customers / banks Minimum-RM100 (Only if settled in the same foreign currency through account held with another bank) Overdue Bills Penalty BLR + 1% Processing Fee- RM100 OS-Out of Scope (Punitive in nature) Letter of Credit Confirmation Confirmation Fee varies from 0.125% per month Minimum USD100 Pre-advise of Letter of Credit Letter of Credit Advising Letter of Credit Amendments Letter of Credit/Amendment Advising for Applicant s Account Advising Commission RM20 RM50 flat for customer RM100-flat for noncustomer RM50 USD50

3 Transfer of Letter of Credit Full or partial transfer Borrowing Trade Customer Non-Borrowing Trade Customer Amendment of Transfer of Letter of Credit Commission 0.125% per month 0.25% on transferred amount or 0.1% per month whichever is higher. Minimum RM300 Minimum RM500 Borrowing customer commission Min RM150 Non-Borrowing customer commission RM200 Assignment of proceeds Commission-RM200 Credit Bills Negotiation of nonborrowing customers/other banks customers where no account is held with IIBM Commission Minimum USD300 upfront to be deducted from proceeds

4 No Channel Transaction Type Fees and Charges Type of 3. Trade Finance (Imports) Letter of Credit Issuance a) Sight Irrevocable /Revocable (Note 4); b) Usance Irrevocable/Revocable (Note 4, 5) } Commission 0.1% per month } Minimum RM50 Letter of Credit Amendment a) Extension of validity date (Note 6, 4); } Commission 0.1% 4) ; b) Increase of amount (Note7, c) Other amendment (Note 8) } Minimum RM50 } Minimum RM50 Back to back Letter of Credit Issuance Commission 0.1% per month Minimum RM200 Back to back Letter of Credit Amendment Commission-0.1% Minimum-RM150 Commission-0.1% Minimum-RM150 Standby Letter of Credit Issuance Amendment Commission varies from 0.125% per month Minimum-RM50

5 Negotiation of Import documents received under Letter of Credit: a) Transit interest from date of negotiation to date of payment b) Drawing against expired Letter of Credit (Note 9) c) Drawing in excess of Letter of Credit (Note 10) d) Discrepant document Revolving Letter of Credit drawing up to original credit amount (Note 12) When reimbursement is made direct to the Letter of Credit Negotiating Bank (Note 13) Interest (Note 11) of negotiation to date of: Commission - 0.1% Minimum RM100 Commission - 0.1% Minimum RM100 Commission - Minimum USD75 Local bill RM100 Commission 0.1% Minimum RM50 REMARKS If subsequently the total drawings there under exceed the face amount of the Letter of Credit (by reason of this revolving nature) the total charge payable shall be calculated up on the total amount of drawing from the date of letter of credit issuance to the date of maturity of letter of credit Reimbursement fee (TT payment only) USD30 REMARKS This does not apply if Negotiating Bank is a Chartered office or subsidiary

6 Shipping Guarantees: a) Under Letter of Credit (Note 14) b) Not under Letter of Credit (Note 14) c) If Shipping Guarantee is not returned within 3 months Commission varies from 0.125% Minimum RM50 Commission varies from 0.125% Minimum RM125 Additional 0.5% per annum of the invoice mount to be collected until date of redemption Inward Bills for Collection Handling Commission 0.1% Minimum RM50 Maximum RM250 (Note 15) Maximum-RM500 for RM bills Settlement of Inward Bills For Collection to Remitting Bank Reimbursement fee (TT payment only) USD30 flat or equivalent for other currency to be charged to the drawer Second & Subsequent Presentation of Inward Bills for Collection Representation charges USD25 for each presentation plus other expenses incurred

7 Dishonoured bills returned to the Remitting Bank Commission 0.1% Minimum USD25 plus accumulated other charges and mail cost Maximum USD50 plus accumulated other charge and mail cost Protesting of Inward Bills for Collection Protest Fee USD100 excludes Legal expenses Inward Bills where proceeds are remitted through another bank Handling Charge 0.1% flat Minimum RM50 Foreign Currency Cheques for collection Handling Charge 0.1% flat Minimum RM50 Maximum RM250 (Note 15) Maximum RM500 for RM bills

8 No Channel Transaction Type Fees and Charges Type of 4. Trade Finance Bank Guarantee Bank Guarantee Issuance Commission From 0.125% per month or part 0f month inclusive of any claim period if secured by cash margin Minimum RM50 as per approved letter of acceptance, if secured by collateral other than cash margin. Bank Guarantee Amendment Commission From 1. per month or part of month on extension of expiry or increase of amount Minimum RM50 Stamping of Trade Finance Products Stamp Duty As per regulatory requirements RM10 flat Travelling charges Minimum RM10 OS-Out of Scope (Punitive in nature)

9 No Channel Transaction Type Fees and Charges Type of 5. Trade Finance Incidental Charges (Imports) Fax charges other than those mentioned in the specific product RM2 All other countries : RM5 Courier charges other than those Mentioned in the specific product RM9-RM15 Asian counties : RM20 RM60 Other counties : RM20-RM85 Postage (Registered Mail) RM10 Other counties : RM20 Telex Charges: RM50 i. Full text Letter of Credit/Guarantee; Outside Malaysia : RM100 ii. Letter of Credit/Guarantee Amendment RM30 Outside Malaysia : RM60

10 Telex and Swift charges other than these mentioned in the specific products RM15 Outside Malaysia : RM35 Tracers on Irregular Bills RM15 flat for each request by customer

11 No Channel Transaction Type Fees and Charges Type of 6. Trade Finance Incidental Charges (Exports) Fax charges other than those mentioned in the specific product RM2 All other countries : RM5 ZR- Zero rated Courier charges other than those Mentioned in the specific product RM9-RM15 Asian counties : RM20 RM60 ZR- Zero rated Other counties : RM20-RM85 Postage (Registered Mail) RM10 ZR- Zero rated Other counties : RM20 Telex Charges: RM50 ZR- Zero rated i. Full text Letter of Credit/Guarantee; Outside Malaysia : RM100 ii. Letter of Credit/Guarantee Amendment RM30 Outside Malaysia : RM60

12 Telex and Swift charges other than these mentioned in the specific products RM15 Outside Malaysia : RM35 ZR- Zero rated Tracers on Irregular Bills RM15 flat for each request by customer ZR- Zero rated

13 No Channel Transaction Type Fees and Charges Type of 7. Branch Operation- Current Account Cancellation of long outstanding uncollected cheque book after issuing of reminder RM25 per cheque book Cheque returned due to: - insufficient fund - due to post dated RM100 per cheque RM10 (on payee s account) Interest on Overdrawn Amount (TOD) Min : RM5 Max : BLR + 3.5% ES- Exempt Service charge on dormant account For dormant account with balances of up to RM10, the account is closed and the amount absorbed as charge. For dornant account with balances more than RM10, an annual service fee of RM 10 is charged untill the remaining balances is sent to unclaimed monies. Audit confirmation -With facilities -Without facilities RM100 RM50

14 Bankers Cheque Charges RM2.00 Commission/service charges RM0.15 Stamp duty RM0.50 Cheque usage charges OS-Out of Scope (Punitive in nature) Clearing cheques/house cheques RM0.50 Cheque usage charges Mandate form RM10stamp duty RM10 service charge Stop payment cheque -Upon Instruction -Upon cheque returned (sufficient fund) RM 20 per cheque RM 20 per cheque RM100 per cheque -Upon cheque returned (insufficient fund) Photocopies of cheques, pay-in slips, advices and cheque images RM10 per document

15 Request for changes of signatories/conditions for Current Account RM10 per account Stamp duty On Letter of Indemnity RM10 OS-Out of Scope (Punitive in nature) Third party encashment of Pre-printed "Account Payee Only" crossing cheque RM2 charge to drawers'account for each third party encashment Closure of Current Account RM20 on Current Account closed within 6 months RM10 on Current Account closed after 6 months Inward cheque returned RM10 courier charges (To courier copy of the cheque to customer s address)

16 No Channel Transaction Type Fees and Charges Type of 8. Branch Operation Savings Account Closure of account RM20 (within 6 months) Lost Passbook RM10 (service charge) RM10 (Stamp Duty on Letter of Indemnity for lost passbook) OS-Out of Scope (Punitive in nature) Replacement of Saving Accounts Passbook due to poor handling, mutilated, faded etc. (except passbook is full due to transactions) RM 10 (service charge) OS-Out of Scope (Punitive in nature)

17 No Channel Transaction Type Fees and Charges Type of 9. Branch Operation Fixed Deposit Account Lost fixed deposit receipt Request for Duplicate FD receipt Service charge RM2.00 rated 6 % Stamp Duty RM (On Indemnity) OS-Out of Scope (Punitive in nature)

18 No Channel Transaction Type Fees and Charges Type of 10. Branch Operation Fund Transfer Outward Local Telegraphic Transfer RENTAS Via Interbank RENTAS RM5.00 Outward Foreign Telegraphic Transfer Via SWIFT RM35.00 INDIVIDUAL-RM10 Transfer of funds from USD to MYR Account conversion charges USD 4.00