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UK
Additional Fees Payable by Retail and Private Banking Customers
Minimum Balance Charges (Monthly)
The monthly Minimum Balance Charge is only payable if you fail during a calendar month to maintain an average aggregate balance across all your sub accounts (under the same account number) that is equal or greater than the Minimum Balance for Retail Banking and Private Banking customers.
The monthly Minimum Balance Charge is:
- £40 for Retail Banking customers
- £90 for Private Banking customers
If applicable, the Minimum Balance Charge is debited within the first 7 days of every calendar month from your GBP Current Account or GBP Watani Super Account. If your account does not have sufficient funds the Minimum Balance Charge is debited from your Current Account and Watani Super Account held in other currencies at the Bank’s internal system rates on that day.
In order to avoid the Minimum Balance Charge, please ensure keeping your total aggregate balance across your sub-accounts with us above your applicable Minimum Balance.
For further information on Minimum Balance and monthly Minimum Balance Charge, please refer to our FAQs, or contact your Relationship Manager for details.
Tariff of Charges
Outward Payments
| GBP Payments within the UK | £30 |
|---|---|
| GBP Payments Outside UK | £35 |
| International payments (In currency of country) | KWD 15 / USD 50 / EUR 50 |
| International payments (Not in currency of country) | KWD 17 / USD 60 / EUR 60 |
| Sterling or Foreign Currency Draft | £20 |
| Query Message on Outward Payment | £20 |
| Standing Order | No charge |
| Set up of Direct Debit | No charge |
- Additional fees may be charged by correspondent banks processing your international transfers
- For transfers in currencies different than your account an additional FX charges will be applicable
- For transfers in a currency other than that of your account, an additional FX charge will apply. You will be advised of this charge before the transfer
Inward Payments
| Funds Received For Credit to Accounts | No charge |
|---|
Personal/Bank Cheque
| Personal/Bank Cheque Sent For Collection* | £25 |
|---|---|
| Unpaid Cheque or Direct Debit** | £25 |
| Unpaid Return of Deposited Cheque** | £25 |
| Stop Payment of Individual Cheque | £25 |
| Stop Payment of Lost/Stolen Cheque Book | £25 |
* Correspondent bank charges may also be levied
** We may represent a cheque up to three times. Each time a fee will be incurred
Online Banking Services
| GBP Payments within the UK | £15 |
|---|---|
| International Payments to NBK Offices | £20 |
Overdrafts
| Unauthorised Overdrafts | Interest at 0% p.a.* |
|---|
* We do not offer unauthorised overdrafts as part of our services. However, in the very rare cases where your account becomes overdrawn, you will not incur any cost
Safe Deposit Boxes
Annual rental
| Small | £300 |
|---|---|
| Medium | £400 |
| Large | £600 |
Visa Debit Card
| Annual Fee Per Card | Free |
|---|---|
| Replacement of Lost/Stolen Card | Free |
There will be FX fees when using the card externally in currencies other than GBP.
Other Services
| Annual Fee for Automatic Inter-account Transfer (to Cover Account Activity) | Free |
|---|---|
| Cheque Book Issuance | £6 |
Please note as follows
Further details about specific NBK – London product fees and other key information can be found on the product sections of our website
Charges will be applied immediately, at the time of each relevant transaction.
Charges for payments and transfers subject to the Payment Services Regulations 2017 will be additional to, and must not be deducted from, the amount due to the recipient in each case.
Interest and Profit Rates
Automatic Exchange of Information
NBKI meets its automatic exchange of information obligations under US FATCA, UK FATCA (CDOT) and the Common Reporting Standard (CRS).
Timescales for Making and Receiving Payments
Cut off times are shown in UK time. Where we receive payment instructions after the specified cut off time we may not be able to process the payment until the next working day.
In the tables below “working day” for NBKI and other banks operating in the UK means any day of the week except Saturday, Sunday or any English public holiday. When referring to a bank outside the UK (for example when an overseas bank is receiving a payment) it means any day on which the banks in that country are usually open.
Making Electronic Payments Within the UK (All Payments Types Are in GBP Only Except for Internal Transfers)
| Payment Type | Time It Takes for Payment to Reach the Recipient’s Account | Same Day Payment Cut Off Time |
|---|---|---|
| Internal Transfers (Payments to Your Other Accounts With us or to Accounts Held by Others With us) | Same day | 14:00 |
| Bill Payments (Using SWIFT) | Within three working days | 14:00 |
| Payments to Other Banks in The UK (Using SWIFT) | Same day | 14:00 |
| Standing Orders (Using SWIFT) | Within three working days | 14:00 |
| Direct Debits (Using SWIFT) | Within three working days | 14:00 |
| Debit Card Payments | Within three working days | 14:00 |
Bankers Automated Clearing Service
For payments in currencies other than GBP, USD, EUR or CAD the cut off time is 14:00 one working day before the payment date.
If you want to make a payment in a different currency than the one in which your account is held we will convert the relevant amount into the currency you have requested, using our exchange rate applicable at the time.
Making Electronic Payments to Those Outside the UK
| Payment Type | Time It Takes for Payment to Reach the Recipient’s Account | Same Day Payment Cut Off Time |
|---|---|---|
| All Other Electronic Payments Outside the UK | These payments will be made by SWIFT transfer and will usually be credited to the recipient’s bank account on the day received, unless received after the cut off time of the receiving bank, in which case the sum will be credited on the receiving bank’s next working day. | 14:00 |
Cash Withdrawals
| Withdrawal Type | When Debited to Your Account |
|---|---|
| At the Counter of Our Branch* | Immediately |
| Using your Debit Card at Our Branch ATM | Within 3 working days |
| Using your Debit Card at Any Other ATM | Within 3 working days |
* For withdrawals over £5,000 (or equivalent currency) you may need to give us two working days' notice and tell us about the purpose for which the cash will be used, if we ask you
Cash Paid in
| Where Paid in | When Credited to Your Account |
|---|---|
| At the Counter of Our Branch | Immediately. Any such sums will be available for withdrawal immediately assuming you have sufficient funds to meet the withdrawal.* |
* When you deposit cash, you must tell us where you obtained the cash if we ask you and we may also require documentary evidence to support this in addition to your identification. Not withstanding these requirements we may at our entire discretion refuse to accept cash deposits of any amount to your account(s)
Cheques You Write
| Where Cheque is Paid in | When Debited to Your Account |
|---|---|
| Into Our Branch | Same day |
| Specially Presented | On the day we receive your cheque |
| GBP Cheques Paid Into Other UK Banks | Usually two working days after the recipient pays the cheque into their account |
Cheques Paid in to Your Accounts
| Cheque Type | When Credited to Your Account |
|---|---|
| Cheque in GBP Drawn on a Bank in the UK | Two working days later. Note that this is when you receive value. You may not be able to draw on the amount credited until three working days have elapsed. For example, a cheque paid in on Monday would receive value on Wednesday and you could draw on it on Thursday. We will be allowed to reverse the cheque within six working days of it being paid in, for example because there were insufficient funds in the payers account to meet the cheque. |
Electronic Payments Paid to You
| Payment Type | Day Credited to Your Account (If Received by Cut Off Time) | Same Day Payment Cut Off Time |
|---|---|---|
| GBP Payments | On the day of receipt | 15:00 |
| Payments in Other Currencies | On the day of receipt | 15:00 |
If an electronic payment is received in a currency different from that in which your account is held we will refer to you on a case by case basis for your instructions.
FSCS Deposit Protection
Your eligible deposits with National Bank of Kuwait (International) PLC are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.
For further information, please refer to our Financial Services Compensation Scheme page.
