Get answers to frequently asked questions regarding our corporate services.
How do I contact Customer Service?
What added value can I expect?
As a valued BEC corporate business customer, you can look forward to comprehensive foreign exchange service with flexible operating hours, free tracking service and delivery to your office.
What is the Transaction Process?
Once registered, your company’s authorized signatory/representative can:
Can cheques be used for transactions?
We hold bank accounts with various banks in Kuwait. All transactions via cheque mode will be cleared on cheque realization only. For more details on cheque clearances please contact your corporate business officer or fill in the contact us form that could help us get in touch with you.
How do I know my transactions will be secure?
High-level of security measures have been implemented to keep money safe, including:
- Dedicated security van
- Self-sealed bags
- Serial numbers
- Cash collection bags opened in CCTV presence at all times
What supporting documents will be required for transactions?
It is our responsibility as a financial institution to adhere to the directives of the Central Bank of Kuwait, and support government initiatives in combating the funding of terrorism and money laundering activities, thus we obtain, verify and record all information of all our customers, who transact with us. There may be instances that you would be asked to provide supporting documents for the transfers executed through us.
When can I expect collection/delivery of foreign exchange transactions?
All foreign exchange transactions will be collected or delivered the same day providing the transactions are completed before 11am (Excluding Fridays and Public holidays)
Back End Charges
For all corporate remittance transactions (SWIFT/Telex transfers) you may face corresponding back end charges. For more details on the back-end charges please contact your corporate business officer or any BEC branch.
How do fluctuation of FOREX and Remittances Rates affect me as a corporate customer?
As a corporate client you will be entitled to fixed commission charge for remittances as discussed and agreed by your corporate business officer. Most of the times for FOREX your rates shall be fixed for the non- volatile currencies as discussed and agreed by your corporate business officer. FOREX rates though, are subject to market change.