How much is the commission to open a documentary credit, and what does amending it cost? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

How much is the commission to open a documentary credit, and what does amending it cost?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

The opening commission is calculated as a percentage of the total value of the credit and varies according to its validity period (for example, for 3 months). Additional commissions are charged when the value is amended or the validity is extended, in addition to telex, SWIFT and foreign correspondent bank charges.

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