Account Fees
PLEASE NOTE: The initial Clarien Bank fee schedule update includes an increase to credit card FCC fees from 3% – 5%. That fee change has been removed and is no longer applicable. The CAD In Person, In Bank Outgoing Wire Fee has also been amended to correctly reflect the fee update. We are continually enhancing your banking experience to help you reach your financial goals. To provide you with the most competitive rates and effective solutions, please be advised that the Clarien Bank Fee Schedule has been updated for certain products and services.
| FEE TYPE Effective May 1, 2024 | CURRENT FEE | NEW FEE |
| Paper Statement (BMD/USD, GBP, EUR, CAD, AUD/SGD, JPY, CHF) | $6.00, £6, €6, $8 CAD, A$/ S$9, ¥700, 6₣ | $7.50, £7.50, €7.50, $10 CAD, A$/ S$11.25, ¥875, 7.50₣ |
| Chequing Account Maintenance (BMD/USD, AUD/SGD, JPY, CHF) | $10, A$/ S$13, ¥1110, 10₣ | $12, A$/ S$15.60, ¥1332, 12₣ |
| Chequing Account Maintenance – Commercial Banking (BMD/USD, AUD/SGD, JPY, CHF) | $10, A$/ S$15, ¥1120, 10₣ | $12, A$/ S$18, ¥1344, 12₣ |
| Compliance – Personal Banking (BMD/USD, AUD/SGD, JPY, CHF) | $2, A$/ S$2.85, ¥225, 2₣ | $3, A$/ S$4.28, ¥338, 3₣ |
| Compliance – Commercial Banking (BMD/USD, AUD/SGD, JPY, CHF) | $5, A$/ S$10, ¥8, 7₣ | $6, A$/ S$12, ¥960, 8.40₣ |
| In Person, In Bank Outgoing Wire (All foreign currencies except CAD) | $125.00 | $140.00 |
| In Person, In Bank Outgoing Wire (CAD) | $150.00 | $168.00 |
| In Person, In Bank Transfer Orders | $- | $5.00 |
| CREDIT CARD FEE TYPE Effective July 1, 2024 | CURRENT FEE | NEW FEE |
| Credit Card Interest | 19.95% | 21.00% |
How to Minimise Bank Fees
Although service fees are applied to cover account management costs, you are encouraged to consider the following ways to reduce or avoid banking fees when possible:
| Go Digital | Enjoy cost savings and convenience with digital banking solutions. For example, completing an In Branch Wire will now cost $140, or just $20 if completed online via Clarien iBank. |
| Get Sustainable | Available via Clarien iBank or iBank Mobile, you can select to receive free eStatements in place of Paper Statements, which will now cost $7.50. |
| Live More | By maintaining balances in excess of the minimum requirement, clients will qualify for a maintenance fee waiver. Many fees are also waived for seniors, registered charities and Iron Kids accounts. |
Thank you for choosing Clarien Bank.
Effective 15 February 2023 for Personal Banking, Commercial Banking and Private Banking customers.
Chequing Accounts
| Personal | Clarien+ | Private Banking | Commercial | Seniors | |
| Monthly maintenance fee | $12 BMD/USD, $15.60 AUD, 1332 JPY, $15.60 SGD, 12 CHF1/4 | BMD/USD14, $15.60 AUD, 1332 JPY, $15.60 SGD, 12 CHF1/4 | BMD/USD14, $15.60 AUD, 1332 JPY, $15.60 SGD, 12 CHF1/4 | $12 BMD/USD, $18 AUD, 1344 JPY, $18 SGD, 12 CHF1/4 | No charge |
| Monthly compliance fee | $3 BMD/USD, $4.28 AUD, 338 JPY, $4.28 SGD, 3 CHF1/4 | BMD/USD14, $4.28 AUD, 338 JPY, $4.28 SGD, 3 CHF1/4 | BMD/USD14, $4.28 AUD, 338 JPY, $4.28 SGD, 3 CHF1/4 | $6 BMD/USD, $12 AUD, 960 JPY, $12 SGD, 8.40 CHF1/4 | 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, 22 AUD, 21 SGD, 15 CHF, $18CAD1 | $15BMD/USD, $18CAD, 22 AUD, 21 SGD, 15 CHF | $15BMD/USD, $18CAD, 22 AUD, 21 SGD, 15 CHF | $15BMD/USD,, 22 AUD, 21 SGD, 15 CHF, $18CAD2/3/4 | 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 | 6.25% | 6.25% | 6.25% | 6.50% | 6.25% |
| Unauthorised / Temporary Overdraft fee | $50 per transaction | $50 per transaction | $50 per transaction | $50 per transaction | $50 per transaction |
| Unauthorised / Temporary Overdraft Interest Rate | 13.25% | 13.25% | 13.25% | 13.50% | 13.25% |
Savings Accounts
| Personal | Clarien+ | Private Banking | Commercial | Seniors | |
| Monthly maintenance fee | $3, £3, €3, $5CAD1/5 | BMD/USD14 £3, €3, $5CAD | BMD/USD14 £3, €3, $5CAD | $5, £5, €5, $7CAD3/9 | No Charge |
| Monthly compliance fee | $2, £2, €2, $4CAD / month / account1 | BMD/USD14 £2, €2, $4CAD | BMD/USD14 £2, €2, $4CAD | $5, £5, €5, $7CAD3 | 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, £13, €13, $18CAD / month1 | $15 BMD / USD, £13, €13, $18CAD | $15 BMD / USD, £13, €13, $18CAD | $15 BMD / USD, £13, €13, $18CAD / month1 | No Charge |
| Dormant account reactivation fee | No Charge | No Charge | No Charge | No Charge | No Charge |
| Unauthorized Overdraft | N/A | N/A | N/A | N/A | N/A |
| Fixed Deposit Administration (Applies to All Term Deposits and CDs) | |||||
| Amendment fee | N/A | N/A | N/A | N/A | N/A |
| 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, 7.50 GBP, 7.50 EUR, $10 CAD, $11.25 AUD, 875 JPY, $11.25 SGD, 7.50 CHF1 | $7.50 BMD / USD, 7.50 GBP, 7.50 EUR, $10 CAD, $11.25 AUD, 875 JPY, $11.25 SGD, 7.50 CHF1 | $7.50 BMD / USD, 7.50 GBP, 7.50 EUR, $10 CAD, $11.25 AUD, 875 JPY, $11.25 SGD, 7.50 CHF1 | $7.50 BMD / USD, 7.50 GBP, 7.50 EUR, $10 CAD, $11.25 AUD, 875 JPY, $11.25 SGD, 7.50 CHF1 | No Charge |
| Scheduled additional paper statements | N/A | N/A | N/A | N/A | N/A |
| Non-scheduled statement fee | N/A | N/A | N/A | N/A | N/A |
| 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) |
| Copy of transactions fee | N/A | N/A | N/A | N/A | N/A |
| 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 |
| Bank / Credit reference rush fee | N/A | N/A | N/A | N/A | N/A |
| 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 |
| Returned mail (after three consecutive months) | N/A | N/A | N/A | N/A | N/A |
| 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) | N/A | N/A | N/A | N/A | N/A |
| Coin Deposits | No Charge | No Charge | No Charge | No Charge | No Charge |
| Foreign currency cash withdrawal | 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 |
| Foreign currency notes purchase | 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 |
| ATM surcharge | N/A | N/A | N/A | N/A | N/A |
| Other transaction performed via ATM | N/A | N/A | N/A | N/A | N/A |
| 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 |
| Lost or Stolen Debit Card fraud deductible | N/A | N/A | N/A | N/A | N/A |
| 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 BM/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 (BM/USD only) – not via online banking. | $758 | $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 |
| Direct Debit fee | N/A | N/A | N/A | N/A | N/A |
| 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 | $20 | $20 | $20 | $20 | $20 |
| In Person, In Bank Outgoing International Wire Payment Transfer | $140 BMD equivalent for BMD, USD, EUR, GBP, AUD, CHF, JPY, SGD, $168 BMD equivalent for CAD wires | $140 BMD equivalent for BMD, USD, EUR, GBP, AUD, CHF, JPY, SGD, $168 BMD equivalent for CAD wires | $140 BMD equivalent for BMD, USD, EUR, GBP, AUD, CHF, JPY, SGD, $168 BMD equivalent for CAD wires | $140 BMD equivalent for BMD, USD, EUR, GBP, AUD, CHF, JPY, SGD, $168 BMD equivalent for CAD wires | $140 BMD equivalent for BMD, USD, EUR, GBP, AUD, CHF, JPY, SGD, $168 BMD equivalent for CAD wires |
| Non Receipt / Amendment / Cancellation of Remitted Payment(s) | $30 | $30 | $30 | $30 | $30 |
| Copy of Draft | N/A | N/A | N/A | N/A | N/A |
| Foreign Cheque Deposits | |||||
| Foreign cheques purchased | $20 | $20 | $20 | $20 | $20 |
| 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 |
| Warning advice / Insufficient funds fee | $50 | $50 | $50 | $50 | $50 |
| 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 | $10,000 | $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 Overlimit fee | $50 per transaction11 | $50 per transaction11 | $50 per transaction12 | $50 per transaction12 | $50 per transaction12 |
| Credit Card late payment fee | $50 per cycle | $50 per cycle | $50 per cycle | $50 per cycle | $50 per cycle |
| NSF (non-sufficient funds) handling fee | N/A | N/A | N/A | N/A | N/A |
| 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 issuance rush fee | $50 | $50 | $50 | $50 | $50 |
| Credit Card replacement card fee | $50 | $50 | $50 | $50 | $50 |
| Credit Card replacement rush fee | $50 | $50 | $50 | $50 | $50 |
| Credit Card rush PIN mailer | N/A | N/A | N/A | N/A | N/A |
| Credit Card (Temporary or Permanent) credit limit increase | $50 / increase | $50 / increase | $50 / increase | $50 / increase | $50 / increase |
| Copy of Credit Card Sales Slip fee | $15 | $15 | $15 | $15 | $15 |
| Credit Card Disputed Transaction fee | $25 per transaction | $25 per transaction | $25 per transaction | $25 per transaction | $25 per transaction |
| Statement Reprints fee | $10 per statement | $10 per statement | $10 per statement | $10 per statement | $10 per statement |
| Research fee | $50 per hour | $50 per hour | $50 per hour | $50 per hour | $50 per hour |
| Replacement Sales Receipt | $15 | $15 | $15 | $15 | $15 |
| Credit Reports – Request for outstanding client debts | $13516 | $13516 | $13516 | $13516 | $13516 |
21.00%
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 |
| Inspection fee | N/A | N/A | N/A | N/A | N/A |
| 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, Unsecured | |||||
| 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 – Vehicle, Cash Secured, Unsecured | 5 years | 5 years | 5 years | N/A | 5 years |
| Negotiation / Administration / Origination fee | $500 up to $10k 2% (min of $500) $10k to $100k 1% (min of $2,000) $100k+ | $500 up to $10k 2% (min of $500) $10k to $100k 1% (min of $2,000) $100k+ | $500 up to $10k 2% (min of $500) $10k to $100k 1% (min of $2,000) $100k+ | N/A | $500 up to $10k 2% (min of $500) $10k to $100k 1% (min of $2,000) $100k+ |
| 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% |
| 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) +1.5% | Benchmark Rate (fed funds overnight) +1.5% | Benchmark Rate (fed funds overnight) +1.5% | Benchmark Rate (fed funds overnight) +1.5% | Benchmark Rate (fed funds overnight) +1.5% |
| Credit Interest | |||||
| Credit interest is paid in limited circumstances only and subject to management approval. | |||||
| USD interest rate as of : October 1st 2023 | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
| 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 |
| Trading Costs: Ticket Charge | $25 per security | $25 per security | $25 per security | $25 per security | $25 per security |
| Trading Costs: Market Value Charge | 0.10% or $30 which ever is greater | 0.10% or $30 which ever is greater | 0.10% or $30 which ever is greater | 0.10% or $30 which ever is greater | 0.10% or $30 which ever is greater |
| 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% |
Notes:
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 Cardholder is not permitted to exceed the authorized credit limit applicable to the Account. Any transaction causing the Card Account balance to exceed the authorized limit will be declined
at the point of sale. There may be circumstances where non-transactional activity causes the Card Account balance to exceed the authorized limit, for example (and without limitation) due
to the application of fees and other charges or due to a temporary limit increase expiring. In such cases, an Overlimit Fee will be applied to the Card Account once in each billing cycle where
the Card Account balance exceeds the authorized limit.
12 An Overlimit Fee will be applied to the Card Account once in each billing cycle where the Card Account balance exceeds the authorized limit. Transactions that cause the Card Account
balance to exceed the authorized limit by more than the value of 10% of that limit will be declined at the point of sale.
13 Minimum payments are calculated as a percentage of the balance due on the Card Account plus the total amount of any delinquency, overlimit balances and any overlimit 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.
14 Not applicable to BMD / USD Chequing and Savings Accounts for Clarien + and Private Banking customers
15 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
16 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)
17 Commission is capped at 5% as a maximum for these equities
* 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.
18 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.
19 In Person, In Bank Transfer Order fee waived for Seniors, Charities and “AND” account types.
20 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.clarienbank.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.