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28.07.2021

News

New fee on the credit balances in EUR current accounts

29.04.2021

Dear Customers,

Introduction

RCB Bank Ltd, Luxembourg Branch (the “Bank”) would like to inform you that, given the current market conditions and as a result of the prevailing negative interest rates in Euro, the Bank has no option but to align with most local and European Banks and introduce charges on legal persons maintaining EUR current accounts with the Bank.

As a result, the Bank will proceed with implementing a Liquidity Fee (the “Fee”) of 0,50% p.a. on positive balances on current accounts denominated in Euro, starting from the 1st of July 2021. The Fee will be calculated on the monthly average accumulated credit balances of the accounts and will be charged on a monthly basis. The first €100.000 of the monthly average accumulated credit balance in all EUR current accounts of each customer will not be charged.

The following categories of customers will be exempted from the Fee:
1. Customers with lending facilities like loans, overdraft limits, L/G and L/C limits, REPO limits, guarantors and collateral providers under such facilities.
2. Customers using the Acquiring services of the Bank (POS terminals, eCommerce, SafePayLink, etc.).
3. Customers using the brokerage and custody services of the Bank.

Please note that the calculations of the Fee, as well as the exemptions, will be applied on an individual legal person basis, not on a group basis.

Implementation

Should your account be affected by the Fee you have the option to transfer funds to “Fixed Term Deposit”, which is not subject to the Fee.

You have the right to terminate your account(s) with the Bank without incurring any charges until 29/06/2021. If by that date you have not terminated your account(s), we will assume you have accepted the Fee.

Here to help

If you have any questions or require additional information, please contact your Relationship Manager or your RCB Branch.

For your convenience and faster service, you can contact our Customer Service Centre which operates 365 days per year from 8:00am to 8:00pm Cyprus time, at the following numbers:

• From Luxemburg: 800 62 722 (toll-free)
• From Cyprus: 800 00 722 (toll free)
• From Russia: 8800 100 7722 (toll-free)
• From another country: +357 25 355 722

Sincerely,
RCB Bank Ltd


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