+(44) 208 895 6493 Mon - Fri 09:00 - 17:00 P.B. 1257 Bonovo Road, Fomboni, Mwali, KM
Helpdesk@prominencebank.com
Swift Code:
POOTKMK2
KTT Telex Code:
(051) 410123 PROMIN G
Bank License Number:
B2019018 - Class "A" Bank License

Custodial Bank Safe Keeping Receipt (SKR)

Custody Account

Prominence Bank Helps you on your Financial Business

Now you can deposit your assets and order an SKR (Safe Keeping Receipt) with full bank responsibility without prepaying any fees in advance.

You can pay the full cost six (6) month after the issuing of the SKR!!!

Ask your Authorized Bank Agent or Bank Officer to know more about the full conditions.

What is a Bank Endorsed Safe Keeping Receipt (SKR)?

An SKR is another bank instrument that is used as an alternative financing tool. These instruments can be issued from banks.

Types of Monetizable SKR:

• Fur
• Collectible Art
• Gold
• Above Ground Assets
• Property
• Antiques
• Valuable Documents
• Precious Gems
• Bonds

Those that issue the SKR do not own them, so the asset must be returned if requested. Those that own valuable items can take out an SKR against them. This collateral-based banking instrument provides alternative financing to those that need it most. These are similar to LC, Bonds, SBLC, and BG. SWIFT is used at the transfer service, but some need to utilize MT542.

This is considered one of the safest banking instruments because you do not give up control of your asset, and you aren’t moving it.

The Benefits Of A Custody Account From Prominence Bank

  • Your securities are protected against loss, theft, damage or destruction
  • All the work involved in securities transactions is done for you
  • You receive all the necessary company information and documentation promptly
  • Strict monitoring of your orders
  • Access to other services, such as Lombard loans and investment and financial advice

Custody Account Opening Fees Requirements: 

  1. Custody Account Opening Fees: €25,000 Per Each Custody Account payable at the signing of the SKR agreement and deposit of the assets.
  2. Annual Fees: 2,00% payable six (6) month after the issuing of the SKR

Contact us to learn more about how an SKR can assist you in your financial future.

Estimated Completion Time:

The bank account is open 7 Days after receiving the Bank Account opening fees.

Procedures For Custody Account opening:

1

Complete the Custody Agreement below

2

Send the Custody Agreement Via E-mail to: account@prominencebank.com

3

After the execution of the Custody Agreement by the applicant, the client sends a payment for the Account opening fees (€25,000)

4

Custody Account will be open within seven (7) banking days after we have received and confirmed the Custody Account opening fees

5

Client Proceed to deposit the assets on the Custody Account at our Madrid, Spain office for custody

6

Once the assets are deposited and confirmed, the bank will proceed to issue and deliver an SKR to the client within seventy-two (72) banking hours

Open a custody account

Is your company already a Prominence Bank client? To open a custody account, please contact your client advisor or Corporate Banking Client Management.

Is your company not yet a Prominence Bank client? A custody account can only be opened in combination with a Prominence Bank account. Please contact a Prominence Bank client advisor for an appointment.

Download The Custodial Agreement Here!

 

Download The Safe Keeping Receipt Draft Here!

 

+44 20 8895 6493
helpdesk@prominencebank.com 

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