INDICATIVE LIST FOR FINANCIAL SERVICES

Financial services for which fees, commissions and similar charges imposed are subject to the tax or the National Health Insurance Levy under the provisions of the Act include services relating to;

1. Current accounts, foreign and local

2. Bank draft, payment order

3. Stopped cheques

4. Returned cheques

5. Commission on turnover

6. Overdraft processing or renewal fees

7. Revolving accepting credit

8. Arrangement fee for facilities

9. Statements and certificates of balance

10. Clearing charges

11. Cheques for collection

12. Standing orders

13. Telephone banking

14. Safe custody

15. Cheque books including

(a) sale of cheque leaflet; and

(b) replacement of lost cheque book

16. Issuance of debit cards and credit cards

17. Revolving credit

18. Collateral management

19. Transfer of document to other banks

20. Guarantees, bonds, tender, performance

21. Request for forex drafts

22. Outwards transfer: swift or telex

(a) drafts or money orders

23. Travelers cheques, drafts

24. Cheque lodgements for corporate bodies and third parties only

25. Evacuation fee, cash-in-transit

26. Unpaid standing order

27. Closure of accounts

28. Remote banking services including

(a) online banking;

(b) electronic statement;

(c) e-clients;

(d) phone banking;

(e) short messaging service banking;

(f) mobile banking;

(g) monthly subscription; and

(h) financial transaction fee.

29. Lending fees including

(a) commitment fee, arrangement fee, processing fee, facility fee and other similar fee;

(b) processing fee;

(c) property valuation fee, open market value;

(d) guarantee commission;

(e) bid security;

(f) bank credit letter, letter of intent;

(g) mobilisation guarantee

(h) retention guarantee

(i) performance bond; and

(j) default or restructures.

30. Other loans, excluding salary advance but including

(a) arrangement fees;

(b) new loans;

(c) top-ups; and

(d) early settlement fees.

31. Letters of credit, imports including

(a) establishment commission

(i) arrangement fee; and

(ii) presentation under 1/c drawings;

(b) amendments in the nature of

(i) increase in amount;

(ii) extension of period;

(iii) extension of period – another quarter; and

(iv) discrepancy; and

(c) other amendments.

32. Documentary bills for collection, imports including

(a) handling charges – customers

(b) negotiation commission;

(i) advice of fate;

(ii) bills deleted; and

(iii) protest;

(c) payment commission in the nature of per quarter holding charges;

(d) prior approval, customers in respect of

(i) own resources;

(ii) telex or cable charges; and

(iii) swap charge; and

(e) customers allocated funds from bank in relation to

(i) exchange; and

                     (ii) telex or cable charges.