Ref. 47-20/8029 dated 16 November 2021
Attn.: NSD's Clients
NSD has received notices from foreign correspondent banks that they will debit a special bank fee of 0.1% to 0.2% of the closing balances of NSD's correspondent accounts as of the last trading day in 2021 (the "bank fee"), in compliance with Directive 2014/59/EU. In view of this, please be advised as follows:
If on 31 December 2021, any cash funds are received to the correspondent accounts held by NSD with the foreign banks that debit the bank fee, NSD will debit relevant compensation amounts from the clients' bank accounts in proportion to the amounts received to NSD's accounts which are subject to the bank fee, in accordance with paragraph 3.10 of the Terms and Conditions of Bank Account Services of NSD.
If NSD is unable to identify the intended recipient of any cash funds received on 31 December 2021 to any correspondent account held by NSD with any correspondent bank that debits the bank fee, NSD will make necessary investigations and enquiries, following which the cash funds will either be credited to the intended recipient or returned to the payer, less the applicable compensation amount on account of the bank fee debited.
We advise that you take account of the above information when planning dates and amounts of receipts to your EUR accounts held with NSD and that you monitor your account balances.
If you have any questions related to this communication, please contact your account managers by telephone: +7 495 956-27-90 or +7 495 956-27-91.