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Bank Account Fees
We are committed to transparency in our banking services. The comprehensive Clarien Bank Fee Schedule is below, detailing charges for various products and transactions. Your specific customer profile may influence the fees applicable to your account(s). For additional assistance, please speak with your Relationship Manager or contact the Client Service Centre.
Effective 8th November 2024 for Personal Banking, Commercial Banking and Private Banking customers.
Table of Contents
Chequing Accounts
| Personal | Clarien+ | Private Banking | Commercial | Seniors | |
| Monthly maintenance fee | $12 BMD / USD and equivalent for AUD, JPY, SGD and CHF1 | BMD12 / USD12 and for AUD, JPY, SGD and CHF1 fees are equivalent to conversion from $12 into the respective currency | BMD12 / USD12 and for AUD, JPY, SGD and CHF1 fees are equivalent to conversion from $12 into the respective currency | $12 BMD / USD and equivalent for AUD, JPY, SGD and CHF 1/4 | No charge |
| Monthly compliance fee | $3 BMD / USD and equivalent for AUD, JPY, SGD and CHF1 | BMD14 / USD14 and for AUD, JPY, SGD and CHF1 fees are equivalent to conversion from $3 into the respective currency | BMD14 / USD14 and for AUD, JPY, SGD and CHF1 fees are equivalent to conversion from $3 into the respective currency | $6 BMD / USD and equivalent for AUD, JPY, SGD and CHF1 | No charge |
| Dormancy period (number of months of inactivity before account is declared Dormant) | 24 months | 24 months | 24 months | 24 months | 24 months |
| Monthly dormant account fee (in addition to maintenance and compliance fees) | $15BMD/USD and equivalent for AUD, SGD, CHF & CAD1 | $15BMD/USD and equivalent for AUD, SGD, CHF & CAD | $15BMD/USD and equivalent for AUD, SGD, CHF & CAD | $15 BMD / USD and equivalent for AUD, SGD, CHF & CAD1 and CAD 2/3/4 | No charge |
| Dormant account reactivation fee | No charge | No charge | No charge | No charge | No charge |
| Minimum balance for free cheque allowance | N/A | N/A | N/A | N/A | N/A |
| Cheque Processing fee (for cheques above free cheque allowance) | $3 2 | $3 | $3 | $3 2 | No Charge |
| Stop Payment fee | $20 | $20 | $20 | $20 | $20 |
| Returned Cheque fee (e.g. you have insufficient funds, stale dated or unsigned cheque) | $50 | $50 | $50 | $50 | $50 |
| New cheques fee | $7.50 per 25 cheques | $7.50 per 25 cheques | $7.50 per 25 cheques | $45 per 120 cheques/$65 per 300 cheques | $7.50 per 25 cheques |
| Cheque Clearing Foreign Currency (USD/GBP/EUR) No CAD Cheques Accepted | $20/Item for USD* $30/Item for EUR and GBP* | $20/Item for USD* $30/Item for EUR and GBP* | $20/Item for USD* $30/Item for EUR and GBP* | $20/Item for USD* $30/Item for EUR and GBP* | $20/Item for USD* $30/Item for EUR and GBP* |
| Chequing Account Overdraft | |||||
| Overdraft maximum term | 1 year | 1 year | 1 year | 1 year | 1 year |
| Overdraft negotiation/set-up fee | $2,500 min/$250 or 1% of approved overdraft | $2,500 min/$250 or 1% of approved overdraft | $2,500 min/$250 or 1% of approved overdraft | $5,000 min/$500 or 2.5% of approved overdraft | $2,500 min/$250 or 1% of approved overdraft |
| Overdraft interest rate | Negotiable | Negotiable | Negotiable | Negotiable | Negotiable |
Savings Accounts
| Personal | Clarien+ | Private Banking | Commercial | Seniors | |
| Monthly maintenance fee | $3 BMD / USD and equivalent for GBP, EUR, CAD1/5 | BMD12 / USD12 and for GBP, EUR, CAD1 fees are equivalent to conversion from $3 into the respective currency | BMD12 / USD12 and for GBP, EUR, CAD1 fees are equivalent to conversion from $3 into the respective currency | $5 BMD / USD and equivalent for for GBP, EUR, CAD3/9 | No Charge |
| Monthly compliance fee | $3 BMD / USD and equivalent for GBP, EUR, CAD1 | BMD12 / USD12 and for GBP, EUR & CAD1 fees are equivalent to conversion from $3 into the respective currency | BMD12 / USD12 and for GBP, EUR & CAD1 fees are equivalent to conversion from $3 into the respective currency | $6 BMD / USD and equivalent for GBP, EUR & CAD1 | No Charge |
| Dormancy period (number of months of inactivity before account is declared Dormant) | 24 Months | 24 Months | 24 Months | 24 Months | 24 Months |
| Monthly dormant account fee (in addition to maintenance and compliance fees) | $15 BMD / USD and equivalent for GBP, EUR, CAD / month1 | $15 BMD / USD, £13, €13, $18CAD | $15 BMD / USD, £13, €13, $18CAD | $15 BMD / USD and equivalent for GBP, EUR, CAD / month1 | No Charge |
| Dormant account reactivation fee | No Charge | No Charge | No Charge | No Charge | No Charge |
| Fixed Deposit Administration (Applies to All Term Deposits and CDs) | |||||
| Breakage fee | Maximum of 12 months interest accrued since last renewal, account opening or withdrawal plus $250 administration fee | Maximum of 12 months interest accrued since last renewal, account opening or withdrawal plus $250 administration fee | Maximum of 12 months interest accrued since last renewal, account opening or withdrawal plus $250 administration fee | Maximum of 12 months interest accrued since last renewal, account opening or withdrawal plus $250 administration fee | Maximum of 12 months interest accrued since last renewal, account opening or withdrawal plus $250 administration fee |
Account Services
| Personal | Clarien+ | Private Banking | Commercial | Seniors | |
| Cheque image copy fee | N/A | N/A | N/A | N/A | N/A |
| Paper statement fee |
$7.50 BMD / USD and equivalent for the following currencies: GBP, EUR, CAD, AUD, JPY, SGD and CHF1 |
$7.50 BMD / USD and equivalent for the following currencies: GBP, EUR, CAD, AUD, JPY, SGD and CHF1 |
7.50 BMD / USD and equivalent for the following currencies: GBP, EUR, CAD, AUD, JPY, SGD and CHF1 |
$7.50 BMD / USD and equivalent for the following currencies: GBP, EUR, CAD, AUD, JPY, SGD and CHF1 |
No Charge |
| Statement reprint fee | $10 per statement (quarterly or interim) | $10 per statement (quarterly or interim) | $10 per statement (quarterly or interim) | $10 per statement (quarterly or interim) | $10 per statement (quarterly or interim) |
| Research fee | $50 per hour $75 per hour for urgent requests | $50 per hour $75 per hour for urgent requests | $50 per hour $75 per hour for urgent requests | $50 per hour $75 per hour for urgent requests | $50 per hour $75 per hour for urgent requests |
| Audit Confirmation fee | $50 | $50 | $50 | $50 | $50 |
| Credit check fee | $45 | $45 | $45 | $45 | $45 |
| Bank / Credit reference fee | $50 | $50 | $50 | $50 | $50 |
| Overseas mailing / Courier charges | At prevailing rates | At prevailing rates | At prevailing rates | At prevailing rates | At prevailing rates |
| Special handling fee | $10 | $10 | $10 | $10 | $10 |
| Cheque cashing for non-customer (for cheques drawn on us) | $50 per cheque6 | $50 per cheque6 | $50 per cheque6 | $50 per cheque6 | $50 per cheque6 |
| Cheque cashing for customer (any Bermuda bank’s cheque) | No Charge | No Charge | No Charge | No Charge | No Charge |
| Foreign currency cash withdrawal at USD ATMs (Point House and Airport locations) | Only have USD Notes FCPT 1.25% and prevailing FX rate 15 FCC Fee BMD to USD 43bps | Only have USD Notes FCPT 1.25% and prevailing FX rate 15 FCC Fee BMD to USD 43bps | Only have USD Notes FCPT 1.25% and prevailing FX rate 15 FCC Fee BMD to USD 43bps | Only have USD Notes FCPT 1.25% and prevailing FX rate 15 FCC Fee BMD to USD 43bps | Only have USD Notes FCPT 1.25% and prevailing FX rate 15 FCC Fee BMD to USD 43bps |
| In Person, in Bank Transfer Orders | $519 | $519 | $519 | $519 | No Charge |
| Cash Deposit Fee applicable to all volume when depositor exceeds $1 million per annum (p.a.) | N/A | N/A | N/A | 40 basis points (assessed and invoiced monthly) | N/A |
| Foreign Exchange / International Charge | |||||
| Foreign exchange – sell Bermuda Dollar – Foreign Currency Purchase Tax exemption applies to Non-Resident account holders, Charities, Banks and Government entities | FCPT 1.25% and prevailing FX rate (FCPT Exempt do not pay this tax) | FCPT 1.25% and prevailing FX rate (FCPT Exempt do not pay this tax) | FCPT 1.25% and prevailing FX rate (FCPT Exempt do not pay this tax) | FCPT 1.25% and prevailing FX rate (FCPT Exempt do not pay this tax) | FCPT 1.25% and prevailing FX rate (FCPT Exempt do not pay this tax) |
| Foreign exchange – any currency pair | Prevailing FX rate | Prevailing FX rate | Prevailing FX rate | Prevailing FX rate | Prevailing FX rate |
| International Client Commercial Banking Services Fee | N/A | N/A | N/A | $5,000/year18 | N/A |
Debit Cards and iATMs
| Personal | Clarien+ | Private Banking | Commercial | Seniors | |
| Debit Card annual fee | No Charge | No Charge | No Charge | No Charge | No Charge |
| Debit card daily transaction limit | Minimum $2,000 USD and BMD Cards Minimum $50 for Youth Cards | Minimum $2,000 USD and BMD Cards Minimum $50 for Youth Cards | Minimum $2,000 USD and BMD Cards Minimum $50 for Youth Cards | N/A | Minimum $2,000 USD and BMD Cards |
| ATM daily cash withdrawal limit | Minimum $2,000 USD and BMD Cards Minimum $50 for Youth Cards | Minimum $2,000 USD and BMD Cards Minimum $50 for Youth Cards | Minimum $2,000 USD and BMD Cards Minimum $50 for Youth Cards | N/A | Minimum $2,000 USD and BMD Cards |
| ATM cash withdrawal fee at our ATMs | No Charge | No Charge | No Charge | N/A | No Charge |
| ATM cash withdrawal fee (for non Clarien Bank ATMS): | $5 | $5 | $5 | N/A | $5 |
| Debit Card US cross border fee / international transaction fee specific to BMD / USD transactions | 1.0043 | 1.0043 | 1.0043 | N/A | 1.0043 |
| Debit Card Disputed Transaction fee | $25 | $25 | $25 | N/A | $25 |
| Debit Card replacement fee | $35 | $35 | $35 | N/A | $35 |
| Debit Card replacement – rush fee | $35 | $35 | $35 | N/A | $35 |
| Debit card temporary daily transaction limit increase fee | $15 | $15 | $15 | N/A | $15 |
| Copy of Debit Card Sales Slip fee/Research | $50 per hour | $50 per hour | $50 per hour | N/A | $50 per hour |
iBank - Online Banking
| Personal | Clarien+ | Private Banking | Commercial | Seniors | |
| Online Banking set-up fee | No Charge | No Charge | No Charge | No Charge | No Charge |
| Hard Token replacement fee | $35 per token | $35 per token | $35 per token | $35 per token | $35 per token |
| Soft Token (Mobile Application) fee | No Charge | No Charge | No Charge | No Charge | No Charge |
| Courier / rush fee | $50 | $50 | $50 | $50 | $50 |
| Electronic Statements (eStatements) | No Charge | No Charge | No Charge | No Charge | No Charge |
| Local Payments and Transfers | |||||
| Transfer to another of your own accounts with us – via online banking | No Charge | No Charge | No Charge | No Charge | No Charge |
| Transfer to a third party account with us – via online banking | No Charge | No Charge | No Charge | No Charge | No Charge |
| E-Payment to account at another Bermuda bank (local payment in BMD/USD only) – via online banking | No Charge | No Charge | No Charge | No Charge | No Charge |
| Local Payment from a Clarien Bank account to another Bermuda bank account (BMD/USD only) – not via online banking. | $75 8 | $758 | $758 | $758 | $758 |
| International Wire Payment Transfer via iBank | $20 | $20 | $20 | $20 | $20 |
| Cashier’s/Manager’s cheque – ordered via online banking | $20 | $20 | $20 | $20 | $20 |
| Cashier’s/Manager’s cheque – not ordered via online banking | $80 | $80 | $80 | $80 | $20 |
| Cashier’s/Manager’s cheque – stop payment fee | $20 | $20 | $20 | $20 | $20 |
| Bill payment via online banking | No Charge | No Charge | No Charge | No Charge | No Charge |
| Credit Card payment – via online banking or no-wait deposit | No Charge | No Charge | No Charge | No Charge | No Charge |
| Incoming wire transfer fee | $7 | $7 | $7 | $7 | $7 |
| Copy of Cashier’s/Manager’s Cheque | No Charge | No Charge | No Charge | No Charge | No Charge |
| Overseas Payments | |||||
| Drafts – ordered via online banking | $20 | $20 | $20 | $20 | $20 |
| Drafts – not ordered via online banking | $80 | $80 | $80 | $80 | $20 |
| Drafts – stop payment fee | $20 | $20 | $20 | $20 | $20 |
| In Person, In Bank Outgoing International Wire Payment Transfer |
$140 USD / BMD or equivalent for EUR, GBP, AUD, CHF, JPY, SGD and $168 BMD equivalent for CAD wires |
$140 USD / BMD or equivalent for EUR, GBP, AUD, CHF, JPY, SGD and $168 BMD equivalent for CAD wires |
$140 USD / BMD or equivalent for EUR, GBP, AUD, CHF, JPY, SGD and $168 BMD equivalent for CAD wires |
$140 USD / BMD or equivalent for EUR, GBP, AUD, CHF, JPY, SGD and $168 BMD equivalent for CAD wires |
$140 USD / BMD or equivalent for EUR, GBP, AUD, CHF, JPY, SGD and $168 BMD equivalent for CAD wires |
| Non Receipt / Amendment / Cancellation of Remitted Payment(s) | $30 | $30 | $30 | $30 | $30 |
| Standing Orders or Instructions | |||||
| Set up standing order – via online banking | No Charge | No Charge | No Charge | No Charge | No Charge |
| Set up standing order – not via online banking | $5 | $5 | $5 | $5 | $5 |
| Amend standing order – via online banking | No Charge | No Charge | No Charge | No Charge | No Charge |
| Amend standing order – not via online banking | No Charge | No Charge | No Charge | No Charge | No Charge |
| Standing order local transfer to account with us | No Charge | No Charge | No Charge | No Charge | No Charge |
| Standing order E-payment to account with another Bermuda bank | No Charge | No Charge | No Charge | No Charge | No Charge |
| Standing order Intl wire payment (charge for each recurring International Wire Payment executed on iBank) | $20 | $20 | $20 | $20 | $20 |
| Credit Card auto-pay | No Charge | No Charge | No Charge | No Charge | No Charge |
| Failure advice | No Charge | No Charge | No Charge | No Charge | No Charge |
Credit Cards
| Personal | Clarien+ | Private Banking | Commercial | Seniors | |
| Visa Platinum — Denominated in either BMD or USD | |||||
| Minimum Line of Credit | $2,500 | $2500 – Platinum $10,000 – Platinum Private | $2500 – Platinum $10,000 – Platinum Private | N/A | $2,500 |
| Maximum Line of Credit | $9,999.99 | $9,999.99 – Platinum $19,999.99 – Platinum Private | $9,999.99 – Platinum $19,999.99 – Platinum Private | N/A | $9,999.99 – Platinum $19,999.99 – Platinum Private |
| Annual fee | $85 | $85 – Platinum $150 – Platinum Private | $85 – Platinum $150 – Platinum Private | N/A | $85 – Platinum $150 – Platinum Private |
| Annual Interest Rate | 21.00% – Merchandise 22.75% – Cash Advance | 21.00% – Merchandise 22.75% – Cash Advance | 21.00% – Merchandise 22.75% – Cash Advance | N/A | 21.00% – Merchandise 22.75% – Cash Advance |
| Supplementary Credit Card fee | $40 | $40 – Platinum $85 – Platinum Private | $40 – Platinum $85 – Platinum Private | N/A | $40 – Platinum $85 – Platinum Private |
| Minimum Payment amount13 | 3.5% or min $10 | 3.5% or min $10 | 3.5% or min $10 | N/A | 3.5% or min $10 |
| Visa Infinite – Denominated in either BMD or USD | |||||
| Minimum Line of Credit | N/A | N/A | $20,000 | $2,500 | $10,000 |
| Maximum Line of Credit | N/A | N/A | N/A | N/A | N/A |
| Annual fee | N/A | N/A | $300 | $80 per card | $300 |
| Annual Interest Rate | N/A | N/A | 21.00% – Merchandise 22.75% – Cash Advance | 21.00% – Merchandise 22.75% – Cash Advance | 21.00% – Merchandise 22.75% – Cash Advance |
| Supplementary Credit Card fee | N/A | N/A | $100 | $65 per card | $100 |
| Minimum Payment amount13 | N/A | N/A | 3.5% or min $10 | 3.5% or min $10 | 3.5% or min $10 |
| Credit Card Transactions | |||||
| Credit Card Cash Advance fee | 2.50% of Cash advance (min $5) | 2.50% of Cash advance (min $5) | 2.50% of Cash advance (min $5) | 2.50% of Cash advance (min $5) | 2.50% of Cash advance (min $5) |
| Credit Card US cross border fee / international transaction fee | 30 basis points** | 30 basis points** | 30 basis points** | 30 basis points** | 30 basis points** |
| Credit Card foreign currency conversion is applied to non-US and Bermuda purchase traffic (for example, a Netflix subscription in Bermuda with a transaction based with a Dublin provider). | 3% | 3% | 3% | 3% | 3% |
| Credit Card late payment fee | $50 per cycle | $50 per cycle | $50 per cycle | $50 per cycle | $50 per cycle |
| Penalty interest rate for accounts delinquent for 60 days or more | 5% rate increase for six months | 5% rate increase for six months | 5% rate increase for six months | 5% rate increase for six months | 5% rate increase for six months |
| Credit Card Account Services | |||||
| Credit Card replacement card fee | $50 | $50 | $50 | $50 | $50 |
| Credit Card replacement rush fee | $50 | $50 | $50 | $50 | $50 |
| Credit Card (Temporary or Permanent) credit limit increase | $50 / increase | $50 / increase | $50 / increase | $50 / increase | $50 / increase |
| Statement Reprints fee | $10 per statement | $10 per statement | $10 per statement | $10 per statement | $10 per statement |
| Credit Reports – Request for outstanding client debts | $13516 | $13516 | $13516 | $13516 | $13516 |
Lending
| Personal | Clarien+ | Private Banking | Commercial | Seniors | |
| First Residential Mortgage, Home Equity Loan, Home Improvement Loan, Construction / Home Renovation Loan | |||||
| Interest rate | Per last rate notification | Per last rate notification | Per last rate notification | Per last rate notification | Per last rate notification |
| Maximum Term | 30 Years | 30 Years | 30 Years | 30 Years | Specific to borrower |
| Negotiation / Administration / Origination fee | Minimum $250 or 1% of principal whichever is the greater | Minimum $250 or 1% of principal whichever is the greater | Minimum $250 or 1% of principal whichever is the greater | Minimum of 2% | Minimum $250 or 1% of principal whichever is the greater |
| Negotiation / Administration / Origination fee for renegotiations | Minimum $250 or 1% of principal whichever is the greater | Minimum $250 or 1% of principal whichever is the greater | Minimum $250 or 1% of principal whichever is the greater | Minimum of 2% | Minimum $250 or 1% of principal whichever is the greater |
| Appraisal / Valuation administration fee | $100 per appraisal over the cost of the appraisal as determined by the appraiser | $100 per appraisal over the cost of the appraisal as determined by the appraiser | $100 per appraisal over the cost of the appraisal as determined by the appraiser | $100 per appraisal over the cost of the appraisal as determined by the appraiser | $100 per appraisal over the cost of the appraisal as determined by the appraiser |
| Early pay-off or principal reduction fee | Three months written notice or the equivalent of three months’ interest in lieu of notice | Three months written notice or the equivalent of three months’ interest in lieu of notice | Three months written notice or the equivalent of three months’ interest in lieu of notice | Three months written notice or the equivalent of three months’ interest in lieu of notice | Three months written notice or the equivalent of three months’ interest in lieu of notice |
| Interest rate on delinquency | 2% above interest rate | 2% above interest rate | 2% above interest rate | N/A | 2% above interest rate |
| Late payment fee | $150.00 | $150.00 | $150.00 | $150.00 | $150.00 |
| Outstanding insurance premium | $425.00 if the annual premium is below $2,000, $550.00 if the annual premium is over $2,000 | $425.00 if the annual premium is below $2,000, $550.00 if the annual premium is over $2,000 | $425.00 if the annual premium is below $2,000, $550.00 if the annual premium is over $2,000 | $425.00 if the annual premium is below $2,000, $550.00 if the annual premium is over $2,000 | $425.00 if the annual premium is below $2,000, $550.00 if the annual premium is over $2,000 |
| Stamp duty | Stamp duty is determined by Bermuda Government and based on percentage of the amount borrowed. | Stamp duty is determined by Bermuda Government and based on percentage of the amount borrowed. | Stamp duty is determined by Bermuda Government and based on percentage of the amount borrowed. | Stamp duty is determined by Bermuda Government and based on percentage of the amount borrowed. | Stamp duty is determined by Bermuda Government and based on percentage of the amount borrowed. |
| Certified copy of deed of conveyance | $25 per copy | $25 per copy | $25 per copy | $25 per copy | $25 per copy |
| Non-certified copy of deed of conveyance | $25 per copy | $25 per copy | $25 per copy | $25 per copy | $25 per copy |
| Copy of deed site plan/schedule | $25 per copy | $25 per copy | $25 per copy | $25 per copy | $25 per copy |
| Credit Reports – Request for outstanding debts | $13516 | $13516 | $13516 | $13516 | $13516 |
| Retail Loans various purposes: Vehicle, Solar, Cash Secured | |||||
| Interest rate | Per last rate notification | Per last rate notification | Per last rate notification | N/A | Per last rate notification |
| Maximum term – Solar | 8 years | 8 years | 8 years | N/A | 8 years |
| Maximum term – Cash Secured | 5 years | 5 years | 5 years | N/A | 5 years |
| Maximum Vehicle – Loan Term | New Electric / Hybrid): 7 years New Combustion: 6 years Certified Pre-owned: 5 years Used: 4 years (Terms subject to credit checks and review) | New Electric / Hybrid): 7 years New Combustion: 6 years Certified Pre-owned: 5 years Used: 4 years (Terms subject to credit checks and review) | New Electric / Hybrid): 7 years New Combustion: 6 years Certified Pre-owned: 5 years Used: 4 years (Terms subject to credit checks and review) | N/A | New Electric / Hybrid): 7 years New Combustion: 6 years Certified Pre-owned: 5 years Used: 4 years (Terms subject to credit checks and review) |
| Vehicle Loan Down payment | New: 10% Used: 25% Hybrid / Electric: 0% (up to 100% financed) Certified Pre-Owned: 20% | New: 10% Used: 25% Hybrid / Electric: 0% (up to 100% financed) Certified Pre-Owned: 20% | New: 10% Used: 25% Hybrid / Electric: 0% (up to 100% financed) Certified Pre-Owned: 20% | N/A | New: 10% Used: 25% Hybrid / Electric: 0% (up to 100% financed) Certified Pre-Owned: 20% |
| Negotiation / Administration / Origination fee | 3% / (min of $350) – waived if apply online | 3% / (min of $350) – waived if apply online | 3% / (min of $350) – waived if apply online | N/A | 3% / (min of $350) – waived if apply online |
| Late payment fee | $150 | $150 | $150 | N/A | $150 |
| Interest rate on delinquency | 2% above interest rate | 2% above interest rate | 2% above interest rate | N/A | 2% above interest rate |
| Credit Reports – Request for outstanding client debts | $13516 | $13516 | $13516 | $13516 | $13516 |
Investments
| Personal | Clarien+ | Private Banking | Commercial | Seniors | |
| iTrade & iTrade+ (Clarien Brokerage) | |||||
| iTrade & iTrade + Minimum initial Investment | $5000 USD | $5000 USD | $5000 USD | $5000 USD | $5000 USD |
| iTrade + Basis Point Fee Example: | Assuming Client’s Daily Net liquidation Value is equal to $100K , each day , and remain unchanged for the quarter. The Fee calculation will be as follows : *Please Note – 252 business days are applied in this calculation method. Basis Point Fee = 50 basis points (0.005) * $100,000 / 252 = $1.98 per day. One quarter = 252 / 4 = 63 days. Total cost for the quarter = 63 days * $1.98 = $124.74 | ||||
| iTrade & iTrade + Fee Per Trade Unit PLEASE NOTE THAT EXCHANGE, REGULATORY AND CLEARING FEES ARE NOT INCLUDED. | |||||
| U.S. Equities Commission | 2 cents / share | 2 cents / share | 2 cents / share | 2 cents / share | 2 cents / share |
| U.S. Equities Minimum Ticket Charge | $15 | $15 | $15 | $15 | $15 |
| U.S. Equities Commission Cap17 | 5% | 5% | 5% | 5% | 5% |
| Canadian Equities Commission | 4 cents CAD / share | 4 cents CAD / share | 4 cents CAD / share | 4 cents CAD / share | 4 cents CAD / share |
| Canadian Equities Minimum Ticket Charge | CAD 15 | CAD 15 | CAD 15 | CAD 15 | CAD 15 |
| Canadian Equities Commission Cap17 | 5% | 5% | 5% | 5% | 5% |
| UK Equities Commission | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% |
| UK Equities Minimum Ticket Charge | GBP 21 | GBP 21 | GBP 21 | GBP 21 | GBP 21 |
| LSE – USD Denominated ETF Commission | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% |
| LSE – USD Denominated ETF Minimum Ticket Charge | USD 19 | USD 19 | USD 19 | USD 19 | USD 19 |
| LSE International Order Book Commission | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% |
| LSE International Order Book Minimum Ticket Charge | USD 24 | USD 24 | USD 24 | USD 24 | USD 24 |
| US Treasuries | |||||
| Less than or equal to 60K Face Value | Tiered Structure. For the first 10K of Face Value the Commission is 25bps. The remaining balance is charged 10 bps. | Tiered Structure. For the first 10K of Face Value the Commission is 25bps. The remaining balance is charged 10 bps. | Tiered Structure. For the first 10K of Face Value the Commission is 25bps. The remaining balance is charged 10 bps. | Tiered Structure. For the first 10K of Face Value the Commission is 25bps. The remaining balance is charged 10 bps. | Tiered Structure. For the first 10K of Face Value the Commission is 25bps. The remaining balance is charged 10 bps. |
| Between 60K and 250K Face Value | $75 | $75 | $75 | $75 | $75 |
| Between 250K and 1 Million Face Value | 3 bps | 3 bps | 3 bps | 3 bps | 3 bps |
| Greater than 1 Million Face Value | Tiered Structure. For the first 1 Million of Face Value the commission is 3 bps. The remaining balance is 0.15 bps. | Tiered Structure. For the first 1 Million of Face Value the commission is 3 bps. The remaining balance is 0.15 bps. | Tiered Structure. For the first 1 Million of Face Value the commission is 3 bps. The remaining balance is 0.15 bps. | Tiered Structure. For the first 1 Million of Face Value the commission is 3 bps. The remaining balance is 0.15 bps. | Tiered Structure. For the first 1 Million of Face Value the commission is 3 bps. The remaining balance is 0.15 bps. |
| Corp & Muni Bonds | |||||
| Tiered Structure. For the first 10K of Face Value the commission is 25 bps. | 25 bps | 25 bps | 25 bps | 25 bps | 25 bps |
| Then 10 Basis Points will be charged on the balance of the value of Trade. | 10 bps | 10 bps | 10 bps | 10 bps | 10 bps |
| Mutual Funds Fees and Commissions | |||||
| Mutual Funds Commission fee | $14.95 | $14.95 | $14.95 | $14.95 | $14.95 |
| Foreign Exchange (FX) Commission | 0.6 bps (Basis Points) | 0.6 bps (Basis Points) | 0.6 bps (Basis Points) | 0.6 bps (Basis Points) | 0.6 bps (Basis Points) |
| Foreign Exchange Minimum Ticket | $17 USD | $17 USD | $17 USD | $17 USD | $17 USD |
| Foreign Exchange Minimum Ticket for other currencies | $6 USD | $6 USD | $6 USD | $6 USD | $6 USD |
| Wire Payment Withdrawal fees (1 free withdrawal every 30 days) | |||||
| USD Wires | $10 | $10 | $10 | $10 | $10 |
| USD Checks | $4 | $4 | $4 | $4 | $4 |
| CAD Wires | 12 CAD | 12 CAD | 12 CAD | 12 CAD | 12 CAD |
| EUR Wires | 8 EUR | 8 EUR | 8 EUR | 8 EUR | 8 EUR |
| GBP | 7 GBP | 7 GBP | 7 GBP | 7 GBP | 7 GBP |
| Margins – iTrade ( Tiered based on Margin Loan Size ) The below is based on a Loan 0 ≤ 100,000 | |||||
| Rate on margin balances | Benchmark Rate (fed funds overnight) +2.5% | Benchmark Rate (fed funds overnight) +2.5% | Benchmark Rate (fed funds overnight) +2.5% | Benchmark Rate (fed funds overnight) +2.5% | Benchmark Rate (fed funds overnight) +2.5% |
| Credit Interest | |||||
| Credit interest is paid in limited circumstances only and subject to management approval. | |||||
| USD interest rate as of : December 1st 2025 | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
| iInvest | |||||
| iInvest Minimum Initial Investment | $10,000 USD | $10,000 USD | $10,000 USD | $10,000 USD | $10,000 USD |
| iInvest Annual fee | .75% of Portfolio value | .75% of Portfolio value | .75% of Portfolio value | .75% of Portfolio value | .75% of Portfolio value |
| Account Closure Cost | $250 | $250 | $250 | $250 | $250 |
| iPortfolio (Clarien Investments Limited) | |||||
| Initial Minimum investment | $500,000 | $500,000 | $500,000 | $500,000 | $500,000 |
| Management Fee – beginning at: | 1% | 1% | 1% | 1% | 1% |
SX – Bermuda Stock Exchange – Schedule of Fees
| Transaction Fee* | BSD Dematerialization Fee** | Closing and Re-Registration Fee | |
| Per Trade Amount | For any Value of Total Holdings over $500,000. 0.05% of Market Value accrued on a daily basis and charged on a quarterly basis in arrears.**invoiced annually as of 31st December. | Security lodgment and re-registration fee | |
| RETAIL | $250 BMD per security | ||
| Less Than $1000 Gross Cost Basis | 10% | Security Withdrawals | |
| Greater Than or Equal to $1000 Gross Cost Basis but Less than $10,000 | $100 | $250 BMD per security | |
| Greater Than or Equal to $10,000 | 1.50% | Closing Fee | |
| $250 BMD on completion of last Sell Trade | |||
| DISCRETIONARY | |||
| Less Than $1000 Gross Cost Basis | 10% | ||
| Greater Than or Equal to $1000 Gross Cost Basis but Less than $10,000 | $50 | ||
| Greater Than or Equal to $10,000 | 0.75% | ||
| *Each transaction is subject to 0.125% Bermuda Stock Exchange Trade Levy |
Clients will be required to complete our new Broker Assisted Trading Agreement which outlines our Terms and Conditions.
Notes:
* Cheques will be placed on a 14 clearing day hold.
** USA International Fee Example – a transaction of $100 conducted in the USA will receive a fee of $0.30.
1 This Fee does not apply to Seniors, Registered Charities and Iron Kids Accounts.
2 This Fee does not apply to Seniors and Registered Charities.
3 This Fee does not apply to Registered Charities.
4 If a daily minimum balance ($10,000.00 BMD/USD) is not maintained, the fee will be charged per month for Commercial Banking clients.
5 If a daily minimum balance ($500.00BMD/USD, 325.00£, 400.00€, $600.00CAD) is not maintained, the fee will be charged per month for Personal Banking clients.
6 Cheques less than $25 will not be processed.
7 ATM fees incurred for ATM usage outside of Bermuda may be applicable.
8 In-Branch Outgoing ACH (Automated Clearing House) Fee is applicable for each request.
9 If a daily minimum balance is not maintained, the fee will be charged per month for Commercial Banking clients ($5,000.00BMD/USD, 4,500.00£, 4,300.00€, $5,700.00CAD).
10 Fee waived if enrolled for e-statements.
11 Minimum payments are calculated as a percentage of the balance due on the Card Account plus the total amount of any delinquency or late fees owing. The minimum payment applicable will be the greater of $10 or the minimum payment amount calculated in accordance with this Fee Schedule.
12 Not applicable to BMD / USD Chequing and Savings Accounts for Clarien + and Private Banking customers
13 FCPT Exempt customers do not pay this tax Transactions by the following bodies are exempt from paying the Foreign Currency Purchase Tax:
the Government of Bermuda
the Bermuda Monetary Authority
the Bermuda Housing Corporation
any bank
a deposit company licensed under the Deposit Companies Act – 1974
a credit union registered under the Credit Unions Act – 1982
a trust company licensed under the Trust Companies Act – 1991
The following transactions are also exempt from the tax, with permission of the Bermuda Monetary Authority:
a payment of premium income by a local insurance company or a non-resident insurance undertaking
a remittance of pension contributions by a local pension fund
14 Credit reports are requested by Clarien Bank on behalf of the customer to clarify outstanding debts with Butterfield bank, HSBC, and Bermuda Credit Association – the charge for each entity providing debt details is $45 (3 x $45 = $135)
15 Commission is capped at 5% as a maximum for these equities
16 This fee applies to all new and existing Clarien Commercial Banking clients operating in Bermuda with company operations and core management located internationally. The fee allows us to better support your specific needs at every stage as you start up, manage or grow your business in Bermuda. Existing clients already being assessed an International Client Commercial Banking Services Fee will be contacted directly by their Relationship Manager to discuss any changes to your current charges.
17 In Person, In Bank Transfer Order fee waived for Seniors, Charities and “AND” account types.
18 Exchange, Regulatory and Clearing Fees are not included.
All Bank accounts are subject to the Banks General Terms and Conditions which are located on www.dev-oldclarienbank-com.stackstaging.com.
Clarien Bank Limited, through its wholly owned subsidiary companies, is licensed to conduct bank, investments, corporate service provider and trust business by the Bermuda Monetary Authority.