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Are
Trans National Bank shares listed on the Nairobi Stock
Exchange ?
Trans National Bank is a privately owned bank. There are indigenous Kenyan companies that own this bank. The shares of Trans National Bank are not listed on the Nairobi Stock Exchange
Are
you going to open more branches in other towns ?
The bank was established in 1985. There was also Trans National Finance Company that was established in 1984. The two merged in 1996.
Does
the bank have branch expansion plans ?
Trans National Bank is currently pursuing controlled expansion to different towns in Kenya. The bank currently serves all major towns and has service relationships with other banks where TNB is not present.
Do you provide corporate services to bigger companies ?
TNB currently serves a diverse and demanding corporate segment. TNB has a well developed Corporate Banking division. TNB has recently started Correspondent Banking service also.
Do you accept account of an individual with small balance ?
TNB provides Personal Banking services as well as Corporate Banking Services. The bank plans to win a large Personal Banking clientele over coming years. TNB has excellent products for small account holders.
How is the financial performance of your bank ?
TNB is financially stable institution and meets international capital adequacy norms. The Financial Reports for past three years can be downloaded in pdf format from this website.
Is your bank doing business for both Individuals and Corporate customers ?
We serve Corporate Customers as well as Individuals. We have excellent products and customer service capabilities for both.
What are special benefits for your account holders ?
Congestion-free banking, Innovative and Responsive products and services, affordable bank charges and speed in decision making are our strong point over the competition.
Where does the bank have its branches ?
The bank is in Nairobi, Mombasa, Nakuru, Eldoret, Kabarak, Olenguruone. A complete list and contact information for our branches and ATM network is available on this website.
Who are the Directors of the bank ?
Mr. Michael Cherwon (Chairman), Mr. Peter Kemei, Mr. Hillary Tororey, Mr. Andre DeSimone, Mr. John Kenduiwo are the directors.
Who owns the bank ?
Trans
National Bank is a privately owned bank. There are
indigenous Kenyan companies that own this bank. The shares
of Trans National Bank are not listed on the Nairobi Stock
Exchange. No company owns over 25% of the shares of the
bank.
Asset
Finance
Do
you finance Hire Purchase loans ?
TNB
finances HP loans to large fleet owner but not individuals.
The bank has special schemes with corporate employers for HP
facilities to their employees.
Can I get ATM service on Saving Account ?
All Individual Account holders of the bank can get ATM services
Do you have a Credit Card Product ?
TNB does not have Credit Card currently and we do not have immediate plan to introduce Credit Cards
Does your ATM remain down for many days or over week ends ?
TNB tries its best to keep ATMs running all the time. However, when either due to machine parts malfunctioning, or failure of communication link, or computer system unavailability, the ATM is down, then our customers need not despair as they can get the service on any Kenswitch ATM that are conveniently located.
How can I increase my ATM withdrawal limit ?
The bank allows a maximum limit of Kshs. 10,000-. For increase in the limit, a customer can apply to the bank and the bank considers the requests based on a number of risk factors.
How much do you charge for issuing an ATM Card ?
The First ATM Card is provided free to all account holders. There is a charge of Kshs. 300- for replacement of a card.
What do I do when my card is lost ? How do I report a loss of a card ?
Loss of Card should be reported as soon as possible to any of our branches or to Kenswitch numbers. A police report should also be made.
What is Kenswitch arrangement ?
Kenswitch is a ATM/Debit Card network present in most towns in the country and provides ATM/Debit Card processing services to a number of Kenyan banks.
What is maximum withdrawal permissible from ATM ?
Kshs. 10,000-
What is your ATM network ?
An ATM Locator is available elsewhere on this website.
What should I/ We check as a first time users of AT or Debit Card ?
You will get a sealed computer printed paper also called PIN mailer giving initially set password. You will also get ATM Card. As soon as possible you should use your card on an ATM machine to change the password. You can use your card straight away for ATM/ Card payment in shops once you get your pin mailer and the card. If your pin mailer is received torn or opened, you should notify the bank immediately to block any withdrawals and must ask for replacement of pin mailer and the card.
Will I be charged more if I use ATM machine of another Kenswitch bank ?
No. You will only pay the fees applicable to TNB account holders.
Are bank charges negotiable ?
TNB decides bank charges after carrying out detailed analysis of the job cost for a particular product/service and therefore charges are not negotiable. Large corporate customers can have charges based on relationship value as opposed to product costing.
Do you deduct charges from Saving Account ?
TNB
has a vide variety of account products to facilitate
personal banking transaction needs but TNB does not have
Savings Accounts.
Do you have any hidden charges for account holders ?
All TNB charges are clearly explained in our tariff. Our tariff can be viewed on this website. There are no hidden charges.
How much do you charge for over the counter withdrawal ?
A charge of Kshs. 50- is applicable for payment over the counter for Mshahara account holders. ATM payments are much cheaper. There is no over the counter payment charge for other Personal Banking account holders.
What are your ATM Transaction charges ?
Kshs.
25- per transaction on Kenswitch ATMs and Ksh. 70- per
transaction on Pesa Point ATMs.
What are your Bankers Cheque charges ?
Kshs. 600-
What are your Cash banking charges ?
The charge starts for cash transactions upwards of Kshs. 250,000- in a day. The same is 0.2% of amount of transaction
What are your monthly charges /ledger fees for Current Account ?
Kshs. 30- per entry minimum Kshs. 300- in a calendar month.
What are your Telegraphic Transfer charges ?
There
are two charges applicable, a commission of 0.25% Min Kshs.
1,500- and Maximum Kshs.12,500 Plus SWIFT charge of Kshs.
1,500-.
What
are your Up-Country Cheque Collection charges ?
0.25% Min Kshs. 350- Max. Kshs. 11,000-
Can we draw down facility pending creation of mortgage etc security ?
Credit facilities can only be drawn down upon perfection of security.
Do you ask for security for temporary Overdrafts ?
TNB does not give unsecured overdrafts even for temporary period. Overdraft of any nature is allowed only after credit assessment and setting up of a Credit limit.
Do you Discount/ Purchase Bills ?
TNB has Bills Discount and Bills Purchase Products in Kenya Shilling as well as Foreign Currencies. TNB also has a Factoring product.
Do you do HP for cars ? Or Second hand cars ?
TNB finances HP loans to large fleet owner but not individuals. The bank has special schemes with corporate employers for HP facilities to their employees. Second hand cars of recent make can only be accepted. Please contact Credit Customer service personnel for more information.
Do you give Credit facilities in Foreign Currencies ?
There are limited Credit facilities available in Foreign Currencies.
Do you give Mortgage Loans ?
The
bank does not do long term mortgage loans. The bank is
currently not very active in mortgage loans.
Do you give Project Finance ?
The bank has a very comprehensive and customer need driven corporate banking division that can decide what areas of a project TNB can serve best. We encourage you to arrange a meeting with our corporate banking division to discuss your project. TNB's primary lending is for working capital finance.
Do you give unsecured loans ?
The bank has schemes of Personal Loan product operated in conjunction with some corporate employers. The TNB Personal Loans are restricted to available schemes only.
Do you have Export/ Import Credit Facilities ?
TNB provides all types import finance such as short term import loans, finance against warehouse receipts etc. TNB also provides export finance such as Pre-shipment loans, Export Documents Purchase, Discounting, LC negotiation, invoice factoring etc.
Do you issue Bank Guarantees ?
TNB has a very active bid/performance bond guarantee portfolio and a large number of satisfied customers.
Do you issue Letters of Credits ?
TNB issues all types of Letters of Credits/ stand by Credits for importation of all types of goods and services. These are generally for durations not exceeding 180 days. Currently TNB does not open long term usance Letters of Credits.
Do you lend against a log book ?
There is a limited short term loan facility available for vehicles. Please consult with our Personal Banking Personnel to get details of age of vehicles that the bank can accept.
Do you use services of a Credit Reference Bureau ?
We use services of Credit Reference Bureau. We also freely share information on our customers with other banks.
How competitive are your lending rates ?
We have competitive lending products.
How much do you lend against a title deed ?
Value of a security is not the only criteria for lending decision making. Please consult our Credit Officers for further information.
How much does it cost to do security documentation ?
The lawyers on the panel of the bank charge according to certain agreed arrangements.
How much time does your bank take to create mortgage/debenture security ?
Two months normally. TNB advises its customers to provide all documents and information required by registering authorities at an early stage to shorten this time.
How much time it takes for your bank to take Credit decision ?
The bank is very competitive in terms of time taken for decision making. Although it is not possible to specify a time, it is lower compared to the competition aided by paperless banking at TNB.
I/We have an LPO. Can you lend against it ?
It requires a working capital assessment and creation of collateral security for lending against an LPO.
Do you lend against deposit of title deed or log book.
No.
What are the rules regarding accepting title deeds as security ?
The bank accepts many types of properties and does not accept empty plots, undeveloped lease-hold property, ancestral lands and properties in remote rural areas. Kindly contact our Credit Officers for further guidance.
What are your lending requirements ?
The basic requirements are as under:
(i) The proponent should not be a defaulter of another financial institution
(ii) The purpose of lending should be bankable
(iii) Own contribution is a must and will not be waived
(iv) the repayment source should be clear and of adequate size
(v) the advance should be on secured basis
(vi) The advance should be acceptable under bank's credit policy.
What credit products do you have ?
The bank has a variety of products including Short Term loans, Personal Loan, Overdraft, Bills Purchase/Discounted, Asset Finance, Factoring, Export and Import Credits, Letters of Credits, Guarantees, Money Market Lines, Commercial paper Investments
What is longest repayment period of loans do you accept ?
Five years
What is your recovery policy ?
The bank requires servicing of credit facilities every month. The bank commences legal process of realisation of security when arrears of interest/principal becomes over 90 days or where an overdraft remains above the limit for over 90 days in one year.
What securities do you accept ?
Charge over property is the primary security the bank accepts. Apart from that the bank accepts Pledge of Shares, Fixed Deposits of TNB, factored invoices on A class buyers of goods, debenture in certain limited circumstances etc. Please contact our Lending Officers for more details.
Who are your lawyers for security documentation ?
Kindly contact our Lending Officers for an updated list of our panel lawyers
Who are your approved valuers ?
Kindly contact our Lending Officers for an updated list of our approved valuers.
What is your penalty interest rate ?
0.75 % per month, i.e. 9% p.a.
Do you have Account Relationship Managers ?
Yes.
Do you give Micro-finance loans ?
TNB has pilot Micro-finance project coming up very soon. This is a group lending project as opposed to individual loan scheme.
Do you give Agriculture Development loans ?
Yes.
Am I/are we required to visit the bank personally to sign for account opening ?
Yes. There is a requirement of a personal discussion with our Officers to discuss your requirements and to present yourselves for identification.
Can I deposit a cheque in a Saving Account ?
Cheques are accepted for deposits in TNB Savings account and TNB Personal Current Account but not in Mshahara account.
Can I deposit a cheque in the name of a company or business firm in my personal current account ?
No. It is improper to divert funds for one beneficiary into another account.
Can I get a cheque book on a Saving Account ?
The customers who choose Mint Account or a Personal Current Account get a cheque book. TNB has various account products to suit your specific needs but we do not have Savings accounts.
Can I pay my bills through SMS Banking ?
No. Currently SMS Banking service is for information and messaging but it is non-transactional with certain exceptions.
Can I transact on my account from any branch ?
Yes. You can even transact on your account 24 hours a day, 65 days a year at Jomo Kenyatta Airport office.
Can one deposit a cheque, receive an EFT / KEPSS payment on an account ?
The same can be done on Personal Banking Products except Mshahara accounts.
Can we get Account Statement weekly ?
Yes.
Do I need to come to the bank in person or can I open the account by filling in the account online ?
You will need to come in person for opening an account. You can download the account opening forms in pdf format and bring them duly filled to save time at the bank, but a visit to the bank is required for completing "Know Your Customer" information by the bank.
Do you charge incoming salaries ?
There is no charge on incoming salaries.
Do you give free cheque book ?
On MINT account, the first cheque book is free. In Personal Current accounts, cheque-books are charged. Other Personal accounts do not have cheque-book facility.
Do you give Saving Account Statement monthly ?
TNB has a Savings Account and its statement is provided quarterly. If you have signed up for internet banking, then you can download your statement at any time.
Do you give Statement of Account monthly ?
Current account and MINT account statements are provided monthly.
Do you give Temporary Overdrafts ?
Based on prior credit assessment and limit setting, we do give Temporary Overdrafts on secured basis.
Do you have any special offers for Deposit Accounts ?
Please check on the website periodically to see if there is a promotion offer going on.
Do you have Credit Card ?
TNB does not have Credit Card currently and we do not have immediate plan to introduce Credit Cards
Do you have Personal Bankers ?
Yes.
Do you have Saving Accounts ?
We
have TNB Transaction account which meets needs of our
customers more closely than Savings Accounts offered by the
competition.
Do you have special accounts for Women, Children, Students etc ?
Yes. Pl. consult our branches for details..
Do you pay interest monthly or quarterly ?
We pay interest quarterly.
Do you require a bank reference from my/our existing banker ?
Yes. We require a bank reference form your existing banks.
Do you return my cheque if the cheque will result in the balance going below the minimum required ?
If the cheque is being paid out of credit balance in the account, then we do not return your cheque for reason of account going below the minimum required balance.
Do you send Daily Statement by e-mail ?
We can send your daily statement by email. You can also download your daily statement over the internet if you have chosen our online banking service.
Do you have Account Relationship Managers ?
Yes.
How can I obtain account opening forms ?
You can collect the account opening forms from any of our branches. You can also download them from this website in pdf form.
How much do you charge for issuing an ATM Card ?
The first ATM Card is free. Any replacement Card is charged Kshs. 300-
How much time it takes to get ATM Card ?
Normally between one to two weeks.
How much time it takes to open an account ?
After all the requisite information is provided, the bank requires about one week to obtain bankers' reference or the recommendation from the referee. Thereafter the account is established.
How much time it takes to receive a cheque book ?
It takes one week.
I do not know any customer of Trans National Bank. How can I provide introduction for account opening ?
TNB can obtain your reference from you previous banker provided you had a long relationship with your previous bank.
Pl. state the requirement for a Limited Company Account.
A copy of Board Resolution to open the account including account operating mandate
Copy of Memorandum, Articles and Certificate of Incorporation,
Copy of PIN certificate
Copy of utility bills/lease
Copy of latest annual company return filed with the Registrar of Companies
Copies of Ids
Passport size photographs of all signatories.
All originals will be required to be verified by the bank. The bank additionally carries out a search at the Company Registrar's office. Introduction is required.
Pl. state the requirements for a joint account
The IDs, passport size photographs, utility bills/lease as proof of residence, reference form an existing TNB customer, alternatively bank statement of existing bank account from whom the bank will obtain an opinion.
Pl. state the requirements for a partnership account.
A copy of Partnership Deed, Copy of Certificate of Registration, Mandate Form, IDs and passport size photographs of all the signatories, utility bills/lease as proof of place of business. Introduction required.
Pl. state the requirements for a sole proprietorship account.
A copy of Certificate of Registration, ID and passport size photo of the proponent, utility bill/lease as proof of place of business/residence. Introduction required.
Pl. state the requirements for opening an account of an individual
A copy of ID
Passport size photo
Utility bill/lease as proof of place of business/residence
Introduction from a referee who is either a customer of TNB, a bank reference from your present bank with the statement of account with them
Pl. state the requirements for an account of a foreign registered company.
Memorandum/ Articles from the country of origin and Certificate of Compliance from the Registrar of Companies in Kenya, copy of lease/ utility bill, IDs, passport-size photographs of the signatories, introduction from Embassy of the Country of Origin.
Pl. state the requirements for an account of an Embassy/Foreign Mission.
A letter of introduction from the Embassy which must bear the personal signature of the Ambassador/ Consul, stating the mode of operation and purpose of the account, mandate form
Pl. state the requirements for an account of Parastatal/Government body.
A letter of introduction personally signed by the Accounting Officer of the relevant authority, usually the Permanent Secretary, a letter showing the mode of operation and purpose of the account naming all persons authorised to operate the account, our mandate form.
Pl. state the requirements for an association/society/NGO/club account.
Copy of certificate of registration, copies of minutes of the committee meeting in which the officials were elected, utility bill /lease as proof of address, for a church account, a letter of introduction from the Head of Church, for a School/ College, a letter of introduction from District Education Officer or Provincial Director of Education
What are the requirement for opening a Saving Account ?
ID
Photograph
Utility bill/lease as proof of address/residence
Introduction/ reference
Minimum balance of Kshs. 3,000-
What are the requirements for opening a Mshahara account ?
ID
Photograph
Utility bill/lease as proof of address
Introduction from the employer
Minimum balance of Kshs. 500-
What are the types of deposit accounts you have ?
TNB offers Mshahara accounts for salaried employees, Savings account, Mint account, Personal Current account, Business current account. All these come with option of internet banking account
What are withdrawal restrictions on Saving Accounts ?
TNB has Savings account instead of a Savings account where five free withdrawals are allowed in a month.
What are advantages and disadvantages of a joint account ?
The principal advantage is the most appropriate accounting of money owned jointly and the convenience of joint holders to be able to access the money in the account according to the choice of the joint holders. The disadvantage is that the money can be withdrawn by either party if operating mandate is any one to operate (not if the mandate allows joint operation only)
What are broadly the terms and conditions of your bank for an account ?
We require identification of the account holder
A good reference to vouch for the proponent
Proof of address
Incorporation papers if applicable
and to know the source of money coming in and the purpose for which the money is going out as also the general purpose for keeping this account.
What are the features of your Current Account ?
Account opening balance of Kshs. 10,000-
No minimum balance requirement
Ledger fees of Kshs. 30 per transaction with a monthly minimum of Kshs. 300-
Reasonable bank charges
No charge for small over the counter payments
We provide excellent support service for clearing, foreign exchange through a well spread branch network.
What are the modes of operation your bank accepts in a joint account?
Either or Survivor, Former of Survivor, Both jointly or the survivor, any or any one of the survivors or the last survivor, all jointly
What are your charges for a Duplicate Statement ?
The charges depend on how old the statement is. For 1-3 years old, Kshs. 100- per page, for 3-5 years old, Kshs. 300- per page and for over 5 years, Kshs. 500- per page
What is Mshahara account ?
The account is for salaried employees. The minimum balance required is Kshs. 500-. Customer gets free ATM Card; the withdrawal from ATM costs Kshs. 25 per withdrawal and over the counter payment charge is Kshs.50-. There is no charge on incoming salary and no monthly charge if minimum balance Kshs. 500- is maintained. Introduction from the employer is accepted.
What is SMS Banking ?
A customer can access the account information, can send instruction/ message to the bank computer, can transfer funds to call deposit and can receive advices/ notifications from the bank using mobile phone so that there is no need to go to the bank and queue for simple queries.
What is the minimum balance requirement for an account ?
Different account products have different minimum balance requirements. Mshahara account has a minimum balance requirement of Kshs. 500-, a Savings account requires Kshs.3,000- , a Mint account has Kshs. 50,000- requirement and a Current Account has account opening requirement of Kshs. 10,000- but has no minimum balance requirement.
What is the penalty for my account going below the minimum balance ?
Kshs. 200- per month.
What does the bank want to know about me while opening my account?
The bank desires to know the means of earning of its customers. TNB also desires to know the source of money and the purpose for which the monies are being paid out from the account, and the purpose for which the account is maintained.
What Personal Account Products you have ?
TNB has Mshahara account for salaried people, Savings account, Personal Current account, Children account, Student account. All these accounts come with the internet banking option.
What special advantage do TNB deposit accounts have ?
TNB has Innovative and Responsive service
Congestion-free banking
Affordable bank charges
Competitive interest rates.
You get the facility to transact through entire Kenswitch ATM network or from any branch of Trans National Bank.
Do you buy/sell travellers cheques ?
Yes we do. We buy all major brands of travellers cheques and we sell Thomas Cook Travellers cheques
Do you encash VISA/ Master card?
We do not encash VISA/ Master card at present.
How
competitive are your exchange rates ?
We offer our Personal Banking Customers very competitive exchange rates for all their sale/ purchase transactions. We also have special corporate rates for Corporate Customers that are based on relationship value.
Up to what amount are Board Rates applicable ?
The Board rates are applicable for amounts up to USD 5,000- or its equivalent
What accounts do you offer in Foreign Currencies ?
We offer Current Account, Call Deposit account and Fixed Deposit Account in US Dollars, GBP, Euro, Jap yen and a few other currencies.
What Foreign Exchange services do you offer ?
We buy and sell foreign currencies on Spot and Forward basis. We offer currency SWAPs. TNB has an international remittance service. We buy and sell travelers cheques. We provide import /export bills collection service, Letters of Credits and Foreign Guarantees service. We provide Export bills purchase/discount/negotiation and Foreign Invoice Factoring service. We also provide Western Union remittance service. We have also commenced Correspondent Banking Service. We offer various deposit schemes in foreign currencies and limited lending products also
What is your Anti Money Laundering policy ?
The bank desires to know the means of earning of its customers. TNB also desires to know the source of money and the purpose for which the monies are being paid out from the account, and the purpose for which the account is maintained.
What special service you offer in Foreign Exchange ?
We provide spot and forward foreign exchange sell/purchases, SWAPs, Deposit products and export negotiation/discounting, factoring etc services.
What Western Union Service do you offer ?
We pay Western Union remittances received payable in Kenya and we remit funds through Western Union service.
Who are your correspondents for SWIFT payments ?
Mashreq bank, Dubai for USD, Yen, and Dirham, Kenya Commercial Bank Limited for GBP, South African Rand and Nordea Bank, Finland for Euro.
How competitive are your lending rates ?
Our lending rates are very competitive for all types of lending.
What is your base rate ?
Our current base lending rate is 12.75% per annum.
What is your deposit interest rate ?
The deposit interest rates vary from time to time. The current deposit rate is published daily elsewhere on this website.
What is your lending rate ?
Our lending rate is certain percentages over the base rate. The interest rate for an account conducted according to lending agreement does not exceed 5% above base rate. The rate varies based on risk factors of the lending proposal. The bank reserves the right to determine the risk profile as per the bank's credit policy.
How long does it take to get a loan ?
The process of credit assessment takes two weeks up to four weeks depending on the completeness of the information. The bank is introducing paperless credit environment for speedier processing to speed up credit decision making. TNB recommends that customers should be guided by Credit Officers and comply fully with Credit Policy requirements for a speedier decision making.
I have a title deed of a property. Can I get a loan ?
A credit decision can not be based merely on availability of a title deed. Please contact our Credit Offices for guidance on our Credit Assessment criteria.
What is your interest calculation method for deposit accounts ?
The interest on Mshahara and Savings account is calculated based on the monthly minimum balance reckoning 12 months a year. The interest on Kenya Shilling Fixed Deposit account is worked for actual number of days taking 365 days a year.
Do you give Mortgage Loans ?
We do not give mortgage loans currently
Do you do real time payments on Internet / Online Banking ?
TNB Net banking is designed for real-time payments up to a certain limit. Payments above the limit, as also payments originated outside Kenyan Banking hours are placed for authorisation by TNB officers before they are executed. All Net Banking payment requests are accorded high priority
Does the bank compensate its customer if a fraud happens in online payment instruction ?
The bank can only compensate for any fraud that is a result of a fault of the bank. The bank has a highly secure environment and the bank also uses highest level of encryption/ security to prevent unauthorised access to the system. TNB does not compensate a customer for frauds resulting from unauthorised access to Net Banking using password that was not kept secure by the customers.
How does your Online Banking compare with that of major banks in Kenya ?
Not many major banks in Kenya have a genuine Internet Banking environment TNB is among the first banks to open Net banking to vast Personal Banking Clientele. TNB Internet Banking has Account Information Access, Messaging service, Paperless Applications Submission service, Transactional Service and Customer Service Chat. It is among the most comprehensive Internet Banking placed in the service of Kenyan clientele.
How safe it is to give payment authorisation over the internet ?
The message transmission over the internet is secured using very highest level encryption and is among the safest available currently. Additionally, there is a firewall technique used to prevent unauthorised access. The customers are given different levels of passwords which they must keep secure to ensure highest level of safety. TNB hosts its Internet Banking with service providers who provide highly secure environment. TNB Net banking is safe.
What am I/are we supposed to do for security of Online /Internet banking ?
Customers
are provided with initial password which they must change
immediately after first log in. Then their log in password
should always remain confidential and should not be written
down anywhere as it is a security risk. The password should
not be shared with any other person.
What are the charges for Internet/Online banking ?
Net Banking charges are applicable for customers who opt for Net Banking. Mshahara, Savings, Student account holders pay Kshs. 300- per month, Personal Current account holders pay Kshs. 500- per month and Business Current Account Holders pay Kshs. 1,000- per month.
What is the advantage of Internet/ Online banking ?
This is a very useful service for our customers. It enhances security when compared to conventional banking. It places the customer in complete control over the account information and account activity. The banking can be done from anywhere in the world. It eliminates the traditional need to rush to bank physically for every small thing. It is the way to do banking in 2005.
What is the security in Internet/Online Banking.
The message transmission over the internet is secured using very highest level encryption and is among the safest available currently. Additionally, there is a firewall technique used to prevent unauthorised access. The customers are given different levels of passwords which they must keep secure to ensure highest level of safety. TNB hosts its Internet Banking with service providers who provide highly secure environment. TNB Net Banking is safe.
Remittances & Transfer of Money
Are Electronic Transfers safe ?
Electronic Funds Transfers are conducted in a very secure environment. Therefore they are safe.
Can I transfer money through your bank if I am not your account holder ?
It is the policy of the bank to provide payment services to its well introduces account holders only.
How can I/we pay some one residing abroad instantly ?
You can remit money using Western Union Money Transfer service. You even have the option of applying for Western Union Money Transfer online if you are a TNB Net Banking Customer.
How can I/we pay someone instantly in Kenya.
TNB offers RTGS- KEPSS real time payment service for domestic payments in Kenya. Please contact any branch of TNB for more details.
How does Direct Debit work ? What are its advantages ? What does it cost ?
Direct Debits are very useful for effecting recurring payments such as utility bills, insurance premiums, monthly rent etc. Paying customer is required to give one authority to the receiving party to collect payment of their invoice electronic from the bank and another authority to the bank to pay the invoice value when called upon by the receiving party. The bank then advises the customer of amount paid.
How does Electronic Funds Transfer (EFT) work ? What are the charges for EFT ?
TNB remits your money electronically to your beneficiary in his bank account in any bank in Kenya. The funds generally get delivered the next working day. The charge is 0.25% Min Kshs. 300 and Max. Kshs. 2,500-
How much time it takes for sending/ receiving foreign transfer ?
The foreign remittance is payable value two working days from the date of your completed application. The money normally can be expected to be available in the account of your beneficiary on the third day. It can get delayed in some cases due to international bank network and time zone logistics.
If I/we desire to get a refund for a Direct Debit or get it reversed, how can we do it ?
You can apply for refund of Direct Debit if you find that it is not genuine invoice value within seven days from the date of debit to your account. Thereafter the transaction becomes final and you can not apply for refund.
If we I/ we send a TT through you, does your correspondent also deduct charges ?
TNB recovers correspondent ban's charges from the remitter and not from the beneficiary of the remittance. The beneficiary pays charges of his bank or his bank's correspondent.
What are your charges for KEPSS ?
The charge is 0.25% Min Kshs. 300- Maximum Kshs. 2,500-
What are your TT charges ?
Our TT charge is 0.25% Min Kshs. 1,500 max. Kshs. 12,500 plus SWIFT Cost of Kshs. 1,500-
What instructions should we give for receiving SWIFT payment from abroad ?
This website has details of our correspondents. Those details should be provided to the remitter to facilitate error free remittance.
What is a Bankers Cheque ? How much do you charge for it ?
A bankers cheque is a cheque that you purchase from your bank after paying value. It gives assurance of payment. The charge is Kshs. 600-
What is KEPSS ? What is its advantage ?
TNB makes real-time payment in Kenya to another bank through SWIFT under KEPSS system. The payment is done in a most secured manner. It is a superior way of paying than paying by cheque that takes three days in clearing.
What is RTGS ?
RTGS stands for Real Time Gross Settlement. Under this system. Money is transferred from paying bank to receiving bank through computer network linking to SWIFT.
What is your Anti Money Laundering policy ?
The bank desires to know the means of earning of its customers. TNB also desires to know the source of money and the purpose for which the monies are being paid out from the account, and the purpose for which the account is maintained.
What is your Salary Payment Product ? What are your charges ?
A company or a business firm can provide details of salaries payable to its employees electronically through TNB Net banking or through encrypted file transfer protocol and the salaries are paid out by TNB either by crediting employee's Mshahara account or by sending Electronic Funds Transfer to the designated bank account of the employee.
What Western Union Service do you offer ?
TNB pays incoming Western Union Remittances that have originated form abroad and TNB also remits money payable abroad. Both the services are carries out through Western Union's Instant Payment System.
Who are your correspondents for SWIFT payments ?
Our correspondents are Mashreq bank, Dubai, Nordea Bank, Finland and Sweden, Kenya Commercial Bank Ltd.
Do you give unsecured loans ?
TNB has developed some loan schemes through some employers. The permanent employees of those companies who have a well conducted account at Trans National Bank for at least six month, are generally considered for a personal loan under that scheme. For more details, contact our Credit Officers at any of our branches.
What Trade Finance products do you have ?
TNB provides can arrange collection of import bills or export bills for all eligible countries, can remit trade payments through its extensive correspondent network. TNB opens Letters of Credits for importers and negotiates Letters of Credits for exporters. TNB issues international guarantees. TNB also provides services of credit opinions and references for its customers who desire introduction letters to be sent to their foreign buyers/suppliers.
What are your LC charges and amendment, payment etc. charges ?
LC opening charge is 0.5% per quarter Min Kshs.4,000-, amendment charge is Kshs. 2,000 if the value or the period is not increased, import LC acceptance commission is 0.5% per quarter, LC payment charge is 0.25%. In case of export LC, the negotiation charge is 0.25% of the value Min Kshs. 2,500-
Who are your correspondent/ confirming banks ?
Mashreq Bank, Dubai, Nordea Bank, Finland, Kenya Commercial Bank Limited.
What is the maximum duration of LC that you issue ?
TNB does not open Letters of Credits exceeding 180 days from the date of establishment of the LC.
What securities do you require for a Letter of Credit ?
The bank requires a Credit Limit in place before an LC can be established. The bank requires 25% cash margin with the bank and Bill of Lading in bank's name for Sight Letters of Credits. The bank requires adequate acceptable security plus 25% cash margin for a DA Letter of Credits which have to be fully secured.
Do you negotiate export documents ?
TNB negotiates export documents. TNB also has an advisory service to exporters on basics care required in scrutiny of export LC received, planning of documentation and preparation of export documents.
What are your export negotiation charges ?
The charge is 0.25% Min Kshs. 2,500-
What facilities do you offer to your trade finance customers ?
TNB provides can arrange collection of import bills or export bills for all eligible countries, can remit trade payments through its extensive correspondent network. TNB opens Letters of Credits for importers and negotiates Letters of Credits for exporters. TNB issues international guarantees. TNB also provides services of credit opinions and references for its customers who desire introduction letters to be sent to their foreign buyers/suppliers.
What documents are required for opening a Letter of Credit (LC) ?
A customer requires a Credit facility for LC to be in place. The documents required are a pro-forma invoice, a copy of sales contract, Import declaration Form issued by Kenya Revenue Authority, a marine insurance policy as per sale contract terms for 110% of invoice value with bank's interest noted. There could be contract specific papers. Please consult our Trade Finance officers for further guidance.
Do you do Back to Back Letter of credit ? Do you need additional security ?
We do back to back Letters of Credits. The customer needs to have a Credit facility in place and additional acceptable security is required for back to back letters of credits.
Do you give Pre-shipment loan on the strength of Letter of credit in our favour?
TNB gives pre shipment export loans. The customer needs to have a credit limit in place. TNB requires acceptable security
