Business Accounts
2022/2023 Schedule of Fees

These fees are effective 1 December 2022 and are subject to change. Fees are quoted in Cayman Islands Dollars (KYD) and United States (USD) Dollars. Accounts held in other currencies will be charged at equivalent rates.

Please note that all debit transactions for funds withdrawn or payments to third parties, are subject to Cayman Islands Government Stamp Duty of $0.25 per item. Examples of such items are Cash Withdrawals, Cheques, Debit Card purchases/ATM withdrawals, Wire Transfers, Drafts, Bill Payments, etc.

Download a copy of the Business Account Fees. 

Account Transaction Fees

 Account TypeSavings KYDSavings USDChequing KYDChequing USD
Bill Payments at Customer Service Centres 2.00 2.40 2.00 2.40
Utility/Common Payee Fee (per credit)  1.00 1.20 1.00 1.20
Debit Card ATM Withdrawal 0.50 0.60 0.50 0.60
Point of Sale transactions 0.20 0.24 0.20 0.24
Debit Entry Fee 2.00 2.40 2.00 2.40
Cheques N/A N/A 1.25 1.50
Deposits & Credits Free Free 0.75 0.90
Foreign Cheque or Draft Deposited (per item) 8.40 10.00 8.40 10.00
Monthly Service Fee - minimum charge 1.00 1.20 12.00 14.40
Government Stamp Duty (per debit) 0.25 0.30 0.25 0.30

Transfer Between Accounts

Account TypeSavings KYDSavings USDChequing KYDChequing USD
Over the Counter Requests (not applicable to fixed deposits) 2.00 2.40 2.00 2.40
Initiated by Bank to cover overdraft 5.00 6.00 5.00 6.00

Cheque Books & Cover

Account TypeSavings KYDSavings USDChequing KYDChequing USD
Cheque books - 50 leaf - end stub N/A N/A 12.50 15.00
Cheque books - 99 leaf N/A N/A 25.00 30.00
Cheque book cover  N/A N/A 5.00 6.00
Cheque books - 3 ring binder N/A N/A 35.00 42.00

Miscellaneous Fees

Account TypeSavings KYDSavings USDChequing KYDChequing USD
Cheque Cashing at Customer Service Centres on CNB account for non CNB customers             10.00  12.00

Cash handling - USD $5,000 or over for CNB account holder

(Cash handling maximum for non CNB account holders is USD $500 or currency equivalent)

1% 1% 1% 1%
Cash handling - Foreign Currency cash (GBP, CAD, EUR) for any amounts 1% 1% 1% 1%
Incoming Coin Handling on amounts equal or greater than $200
(Applicable to all Customer Service Centres except for Elgin Ave & Sister Islands CSCs )
5% 5%  5%  5%
Copy of Last Statement 15.00 18.00 15.00 18.00
Courier Charges 37.00 45.00 37.00 45.00
Excess Overdraft Fee
(per 1st occurence & after each 14 calendar days of excess)
N/A N/A 20.00 24.00
Mailed paper statements 5.00 6.00 5.00 6.00
Online Banking Payment Corrections 2.00 2.50 2.00 2.50
Photocopying / Screen Prints of client documents per page
(Applicable to easily located items such as cheque images, duplicate deposits etc)
 0.50 0.60 0.50 0.60
Physical Advice Receipt for Wire Transfers (Free via Online Banking) 3.00 3.60 3.00 3.60
Research within the past 6 months (Per hour, min 1 hour)  25.00 30.00 25.00 30.00
Research older than 6 months  (Per hour, min 1 hour)  50.00 60.00 50.00 60.00
Return Cheque - drawn on CNB  25.00 30.00 25.00 30.00
Deposited Cheque - returned  25.00 30.00 25.00 30.00
Statement Print-outs  7.00 8.40 7.00 8.40
Special Statements (per statement)  10.00 12.00 10.00 12.00
Stop Payment of Cheques  N/A  N/A  20.00 24.00
Direct Debit - 'NSF' (applicable to submitting company) 10.00 12.00 10.00 12.00
Bulk Cash Processing: .25% for all cash deposits exceeding $30k or greater in currency of account. Charged monthly. N/A N/A N/A N/A

Standing Orders

Account TypeSavings KYDSavings USDChequing KYDChequing USD
Government Stamp Duty to Establish 6.00 7.20 6.00 7.20
Set-up Fee 5.00 6.00 5.00 6.00
Amendment Fee 5.00 6.00 5.00 6.00
Internal        
Between Accounts (per execution) 6.00 7.20 6.00 7.20
Loan Payments Free Free  Free Free
External        
Per Execution Due Date (Plus fee for draft, electronic funds transfer to local bank or wire transfer as applicable) 6.00 7.20 6.00 7.20
Payroll        
When crediting CNB accounts (per transaction) 1.25 1.50 1.25 1.50
When crediting non-CNB accounts (per transaction) 3.00 3.60 3.00 3.60
Same day processing  30.00 36.00 30.00 36.00

Dormant & Inactive Accounts

Chequing and Savings accounts with no activity over the period of one year will be levied a KYD $4.00 (or account currency equivalent) monthly maintenance charge. Dormant accounts with no activity over the period of seven years will be levied a KYD$100.00 Dormant charge (or currency equivalent) and the balance sent to the Cayman Islands Government as per the Dormant Account Law. 

Account TypeSavings KYDSavings USDChequing KYDChequing USD
Monthly Maintenance Charge  6.00 7.20 6.00 7.20
Dormant Charge 100.00 120.00 100.00 120.00

Closed Accounts

Account TypeSavings KYDSavings USDChequing KYDChequing USD
Chequing / Savings accounts closed within 3 months of being established
(not applicable to fixed deposits)
25.00 30.00 25.00 30.00

Online Banking

Account TypeSavings KYDSavings USDChequing KYDChequing USD
Monthly Fee Free Free Free Free
Transfer funds between own accounts Free Free Free Free
Transfer funds to other CNB account holders  Free Free Free Free
Electronic Funds Transfer (to local Banks) Free Free Free Free
Bill Payments Free Free Free Free
Electronic advice receipt for wire transfers Free Free Free Free
Statement Print-outs Free Free Free Free
Drafts - 20% fee discount (applicable to drafts in all currencies offered)         
Outgoing Wire Transfers ordered via Online Banking
(Prevailing foreign exchange rates apply for purchase of foreign currencies)
       
Amount        
Up to 5,000 44.00 52.80 44.00 52.80
5,00.01 - 100,000.00  60.00 72.00 60.00 72.00
100,000.01 and above 120.00 144.00 120.00 144.00

Band amounts are in wire currency e.g. USD, CAD, GBP, EUR. Charges are applied in KYD or equivalent in debit account currency. Correspondent Bank's fee e.g. USD15, CAD15, GBP15 etc not included and is optional. 

Wire Transfers

Account TypeSavings KYDSavings USDChequing KYDChequing USD
Outgoing Wire Transfers (ordered over the counter.)
See reduced fees when ordered via Online Banking
(Prevailing foreign exchange rates apply for purchase of foreign currencies)
       
Amount        
Up to 5,000 55.00 66.00 55.00 66.00
5,000.01 - 100,000.00 75.00 90.00 75.00 90.00
100,000.01 and above 150.00 180.00 150.00 180.00
Band amounts are in wire currency e.g. USD, CAD, GBP, EUR. Charges are applied in KYD or equivalent in debit account currency. Correspondent Bank's fee e.g. USD15, CAD15, GBP15 etc not included and is optional.         
Returned Wire  10.00 12.00 10.00 12.00
Correspondent bank return payment fee 42.00 50.00 42.00 50.00
Repair Wire 10.00 12.00 10.00 12.00
Investigation Fee 
(includes returned, amended & repaired wires)
 45.00 54.00 45.00 54.00
Incoming Wire Transfers
(Applicable to amounts $1,000 and greater. For currencies GBP, CAD, EUR, 6.00 currency units will be charged)
 6.00 7.20 6.00 7.20
Wire Confirmation
(per confirmation)
 15.00 18.00 15.00 18.00

Draft Orders

Account TypeSavings KYDSavings USDChequing KYDChequing USD
Draft Repurchase Fee 10.00 12.00 10.00 12.00
Local KYD or USD Draft Orders
Requested at a Customer Service Centre
8.00 9.60 8.00 9.60
Stop Payments of Drafts 40.00 48.00 40.00 48.00

 

 Minimum Charge
Foreign Draft Orders  
Paid for with KYD currency - KYD 16.00  
Paid for in draft currency:   
Amount  
1 - 999.99 6.00
1,000 - 4,999.99 10.00
5,000 - 14,999.99 15.00
15,000 - 49,999.99 20.00
50,000 - 999,999.99 35.00
1,000,000 - 4,999,999.99 350.00
5,000,000 and above  800.00
20% reduction on all draft fees if requested via Online Banking. Band amounts are in draft currency e.g. USD, CAD, GBP, EUR. Charges are applied in draft currency or equivalent in debit account currency.  

Merchant Services

Cayman National is the only Retail Bank that provides on-island payment processing services and is viewed as the largest POS terminal provider and processing agent for MasterCard, Visa, Discover, Diners Club, UnionPay and BC card in the Cayman Islands. Cayman National also offers e-Commerce Merchant Services thru CyberSource with direct connection thru Visa International. These services are offered at competitive discount rates and POS Electronic Data Capture assures you of next-day availability of funds if the transactions are settled by 7:00pm Monday-Friday, excluding Bank holidays. Cayman National POS terminals also accepts and processes American Express cards. Please contact our Merchant Services Representatives at (345) 949 8300 for more information about our terminal options, monthly rental costs, features and benefits.

 

 USD
Terminal rental for IP (per terminal, per month) 40.00
Terminal rental for wireless (per terminal, per month) 50.00
Merchant PCI Non-Compliance fee (per terminal, per month if applicable) 20.00

Credit Cards

 Visa Business Card USD

Annual Fee (per card) 

100.00
Card Replacement 24.00
ATM Withdrawal at any ATM - % of withdrawal amount 2% - Min $5.00

Cash Advance Fee at any bank - % of transaction amount 

2% - Min $5.00
Copies of Itemised Charges 15.00
Credit Limit Increase 25.00
Express Service (existing customers receive a new card within 24 hours / next business day) 18.00
Interest Rate / Finance Charge (APR) 20.00%
Late Payment Fee 40.00
Statement Copies (within 60 days) 8.40
Statement Copies (after 60 days) 12.00
Returned Cheque Fee 24.00
Credit Card Dispute Fee (initiated by customer with charge/purchase correctly made) 24.00

Business Fixed Deposits

 Account Type  

Breakage fee before maturity

The greater of the loss of interest or KYD 250 (or currency equivalent); and

2% of the principal; and

The cost of replacement funding may also apply.

   
For Wholesale Funding Customers (as defined in the General Terms and Conditions) are subject to a repayment date of no less than 31 calendar days after the termination request. Business Fixed Deposit (Breakage Before Maturity) fees may also apply.    

Safe Deposit Boxes

Account TypeKYDUSD
Small 45.00 54.00
Medium 70.00 84.00
Large 100.00 120.00
Extra Large 200.00 240.00
Jumbo 300.00 360.00
Box fees are per annum. Not all sizes are available at all Customer Service Centres and are subject to availability    
Box Drilled Open 200.00 240.00
Replacement Keys 50.00 60.00
List of Contents for estate purposes (per hour, per employee) 50.00 60.00

Night Deposit Service

Account TypeKYDUSD
Night Deposit Service Annual Fee Free Free
Disposable Bags (per batch of 50 bags) 12.50 15.00

Reference & Audit Letters

Account TypeKYDUSD

Banker's Reference

25.00 30.00
Banker's Reference (same day) 45.00 54.00
Audit Confirmations 40.00 48.00

Tax Letters (EU Tax Savings Directive, UK & US FATCA and FBAR)

50.00 60.00

Regulatory Reporting (EU Tax Savings Directive, UK & US FATCA and FBAR)

25.00 30.00

Collections

Please call +1345 949 4655 for price quotation

Legal Fees

  
Legal Fees incurred (non-security work) Variable, Min. of USD 400.00 per hour or as billed by lawyers
Additional Compliance / Transaction Vetting Variable, between USD 150.00 - USD 750.00 per transaction
Executive Management (non-routine) Review Variable, between USD 200.00 - USD 500.00 per transaction