This is a high net worth individual or non-borrowing corporate or not for profit institutions or organizations.
2. What are the examples of IB customers?
Examples of IB customers include but are not limited to the following: organizations or institutions; Faith based organizations, local and multinational corporate organizations, Donor-funded Government ministries; Government Parastatals and Diplomatic Missions.
3.What does NIC Institutional Banking offer ?
IB can help clients meet their cash management and service delivery needs by putting emphasis on: provision of a comprehensive range and high quality product offering and Relationship Banking that ensures delivery of superior and personalized banking.
4. What are the costs associated with NIC Institutional Banking services?
We offer numerous concessions on current account charges and fully waive the following charges; Monthly ledger fee, opening and minimum balance requirements, Periodic bank statements productions, over he counter cash handling fees, incoming swift transfer charges, online banking set up and viewing fees, Incoming RTGS fees.
5. Can I open a Foreign Currency Account?
Yes, you can open foreign currency denominated accounts in the following denominations: USD, EURO & GBP.
6. Will I earn interest on my current account?
Yes, the Bank pays interest on both your Kenya Shilling and Foreign Currency accounts.
7. Who do I contact if I wish to open an Institutional Account?
8. Can I negotiate foreign currency conversion rates?
Yes, You will have access to a treasury dealer with whom you will negotiate preferential rates.
9. Where can I find NIC Bank branches?
We have branches in all the major towns in Kenya, we are also in Uganda and Tanzania,; however, where we are not present, you can access our services through our agency banking partner Post Bank which give you access to over 90 branches countrywide.
10. What investment options are there for your excess funds?
Even though your current account earns interest you also have an option to place any excess funds in call and/or term deposits at negotiated rates with your Account Relationship Manager.
11. Who will be my contact person at NIC Bank ?
On opening the account, you will be assigned Account Relationship Manager, who will help in the day to day management of your account.