About changes to current account balance fee for legal entities
Due to the negative interest rate policy of the European Central Bank, changes Current account balance fee of legal entities (hereinafter – ABF) will take effect on 1 November 2021. These changes will lower the threshold for applying the commission for the balance in the current account.
We will individually inform customers, who will be affected by these changes.
View the table below for more information:
| Services | Current threshold | Threshold from 01.11.2021 | Fee (rate/360 days) |
|---|---|---|---|
| Current account balance fee*, applicable to total current account balances exceeding the threshold | |||
| ABF for Legal entities (EUR) | Exceeding 1 000 000 EUR | Exceeding 400 000 EUR | ECB deposit facility rate |
| ABF for Legal entities (SEK) | Exceeding 9 500 000 SEK | Exceeding 4 000 000 SEK | Sveriges Riksbank Deposit rate |
| ABF for Legal entities (DKK) | Exceeding 7 500 000 DKK | Exceeding 3 000 000 DKK | Danmarks Nationalbank's Deposit rate |
| ABF for Legal entities (CHF) | Exceeding 1 000 000 CHF | Exceeding 450 000 CHF | Swiss National Bank Policy rate |
*ABF is calculated at the end of each calendar day, for excess amount of specified threshold for respective currency. ABF would not be applicable should respective central bank’s deposit rate become equal or exceed zero. ABF is debited once a month, and is applied only in cases where Bank individually informs Client 14 calendar days in advance.
ABF is paid by Client. Bank does not calculate and pay interest on account balances to Client.
ABF = Excess amount of specified threshold*ECB deposit facility rate in absolute value/360. For example, if Current Account end of day balance is 500 000 EUR and ECB rate is –0,5%, then ABF for the respective day is 500 000 – 400 000 = 100 000 * 0,5% /360 = 1.39 EUR.
