| Business Cheque Account | |
| Monthly account maintenance fee | $10.00/month |
| Unauthorised overdraft | $30.00/item |
| Cheque clearing charges | $0.50/item |
| Cheque book | $20.00 100 cheques |
| Stop payment request | $15.00/cheque |
| Exception cheque processing | $75.00/item |
| Exception cheque processing (with no signatures) | $100.00/item |
| Statement frequency | Monthly |
| Additional statement | $5.00/item (For statement frequencies other than monthly, please call your administrator for details.) |
| Small Business (Commercial) Cheque Account | |
| Monthly account maintenance fee | $3.00/month |
| Unauthorised overdraft | $30.00/item |
| Cheque clearing charges | $0.50/item |
| Cheque book | $20.00 100 cheques |
| Stop payment request | $15.00/cheque |
| Exception cheque processing | $75.00/item |
| Exception cheque processing (with no signatures) | $100.00/item |
| Statement frequency | Monthly |
| Additional statement | $5.00/item (For statement frequencies other than monthly, please call your administrator for details.) |
| Foreign Cheque Deposit | |
| Cheques purchased (at the discretion of Bank of Bermuda) | 0.3% or minimum of $30.00/item (whichever is greater) |
| All US Dollar cheques drawn on US banks | $5.00/item 10 business day deferral |
| All GBP and CAD cheques drawn on United Kingdom and Canada respectively | $5.00/item 10 business day deferral |
| All other currencies | $25.00 collection fee plus all foreign bank charges |
| Other | |
| Dormant account (after 2 years of inactivity) | $10.00/month |
| Telegraphic Transfers initiated via BIB/HSBCnet for international payments | $15.00/transfer |
| Telegraphic Transfers initiated via BIB/HSBCnet to a local bank | Free |
| Faxed or other instructions for international transfers | $40.00/transfer |
| Faxed instructions for domestic transfers | $15.00/transfer |
| Non receipt/amendment/cancellation on remitted payment | $45.00 plus other bank's charges |
The applicable exchange rate is the Bank's TT selling rate for that currency against Bermuda Dollars at the time of processing.
For amounts below $250,000 a provisional exchange rate will be provided on request. However, the actual rate applied to your TT will be the rate applicable at the time of processing.
Other charges
Where a transfer involves another bank, which levies a processing/handling charge, such charge is to be debited to your account held with Bank of Bermuda when notified.
| Set up fee | $5.00/item |
| Transfer within Bank of Bermuda | Free |
| To an account at a local bank | $2.50/item |
| Other payments (Cost of manual TT, DD or Bank Cheque also applies as applicable) |
$5.00/item plus transactional fee |
| Non-payment due to insufficient funds | $5.00/item |
| Amendments to standing instructions | $5.00/item |
| Payment tracing fee (per trace) | $5.00/item |
| Payment reversal fee | $15.00/item |
| Settlement of Telegraphic Transfers initiated via HSBCnet to a local bank | Free |
| Manual processing of payroll to Bank of Bermuda | $5.00/item |
| Manual processing of payroll to other local banks | $5.00/item plus applicable domestic settlement fee |
| Manual processing of payroll to international banks | $5.00/item plus applicable international wire fee |
| Account statement request | $10.00/request |
| Copy of SWIFT advice | $10.00/copy |
| MT940 SWIFT set-up | $5.00/set-up |
| Audit Confirmation | |
| Company | $50.00/item |
| Bank Reference - requested on behalf of customer | |
| Within 48 hours | $45.00/item |
| Other | |
| Local courier fee | At prevailing rate |
| International courier fee | Prevailing rates plus $5.00 handling fee |
| Facsimile fee | $1.00/page |
| Dissolved company bank processing fee | $125.00 |
Important information
Fees and charges listed in this guide are effective from 16 October and are subject to change. We will advise you of any changes to these fees either in writing or through advertisements no later than the day the variation takes effect.
Our charges are reviewed regularly to ensure that our products and services remain competitive.
Charges levied by overseas correspondents and intermediary banks will be passed on to you.
Where government fees, duties, charges and taxes apply, these are passed on to you.
All fees and charges are shown in Bermuda dollars (represented throughout as $) unless otherwise stated.
The fees detailed in this guide do not include any additional charges other banks may levy. For foreign currency transactions all fees are to the Bermuda dollar equivalent of the specific foreign currency.
