Bank of Commerce

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Customer Service:
(02) 8-632-BANK (2265)
Domestic Toll-Free Numbers:
1800-10-982-6000 (PLDT) 1800-8-982-6000 (Globe Lines)

Updated Fees and Charges on Foreign Currency Accounts and Trade Transactions

HomeAdvisoriesUpdated Fees and Charges on Foreign Currency Accounts and Trade Transactions

Please be advised that EFFECTIVE SEPTEMBER 2, 2019, the updated fees and charges on Foreign Currency Accounts and Trade Transactions shall be implemented.

For Foreign Currency Accounts:

Account Type Commission charge for withdrawal via Traveler’s Check
US Dollar Savings Account 1%
US Dollar Time Deposit 1%
Long Term Foreign Currency Time Deposit 1%

For Trade Transactions:  

Trade Transaction Updated Fees and Charges
A. Import Letters of Credit (LC)
1) LC Opening
          1.1. Sight and Usance 1.1.1 Commission of 1/4 of 1% for the first two (2) months and 1/8 of 1% thereafter or a minimum of PHP 1,000.00 whichever is higher.
1.1.2 PHP 1,000 SWIFT Fee (cable)
1.1.3 DST of PHP 0.60 for every PHP 200.00 or a fraction thereof
          1.2. Standby 1.2.1 Commission of 1/4 of 1% for the first two (2) months and 1/8 of 1% thereafter or a minimum of PHP 1,000.00 whichever is higher.
1.2.2 PHP 1,000.00 SWIFT fee (cable)
1.2.3 DST of PHP 0.60 for every PHP 200.00 or a fraction thereof.
1.2.4 Commitment fee of 1/8 of 1% fixed or a minimum of PHP 1,000.00 whichever is higher.
2) Amendment to LC
           2.1 Increase in Amount 2.1.1 Commission of 1/8 of 1% per month or minimum of PHP 500.00 whichever is higher.
2.1.2 PHP 600.00 SWIFT fee (cable)
2.1.3 DST of PHP 0.60 for every PHP 200.00 or a fraction thereof on the increase
           2.2 Extension of Expiry Date 2.2.1 Commission of 1/8 of 1% per month or minimum of PHP 500.00 whichever is higher.
2.2.2 PHP 600.00 SWIFT fee (cable)
           2.3 Shipside Bond Guarantee (SSB) 2.3.1 PHP 300.00 bank guarantee fee per transaction
2.3.2 PHP 20.00 messengerial fee per transaction
2.3.3 DST of PHP 0.30 for every PHP 4.00.
           2.4 Air Waybill Endorsement (AWB) 2.4.1 PHP 300.00 bank endorsement fee per transaction
2.4.2 DST of PHP 0.30 for every PHP 4.00.
           2.5 Custom Duties via Project

Abstract Secure version 5 (PAS5)

 2.5.1 Handling fee of PHP 300.00 per transaction
2.5.2 PHP 30.00 fee for Service Bureau
2.5.3 PHP 50.00 PAS5 enrollment fee per transaction
           2.6 Other amendments 2.6.1 Commission of PHP 500.00.
2.6.2 PHP 600.00 SWIFT fee (cable)
3) Negotiation of Import LC
           3.1 Full Payment
           3.1.1 Sight LC 3.1.1.1 PHP 600.00 SWIFT fee (cable)
           3.1.2 Usance LC 3.1.2.1 Commitment fee of 1/4 of 1% per month of fraction thereof for usance period payable upon maturity of draft or usance period or a minimum of PHP 500.00 whichever is higher.
3.1.2.2 PHP 600.00 SWIFT fee (cable)
3.1.2.3 Actual charge of the correspondent bank (if any).
           3.2 Booking to Trust Receipt Loan
           3.2.1 Sight LC 3.2.1.1 PHP 600.00 SWIFT fee (cable)
3.2.1.2 DST of (a) PHP 40.00 for the first PHP 5,000.00; (b) On each PHP 5,000.00 or fractional part thereof in excess of PHP 5,000.00, an additional tax of PHP 20.00.
3.2.1.3 Actual charge of the correspondent bank (if any).
3.2.1.4 Actual charge of the notarial fee (if any).
4) Cancellation of LC 4.1 Commission of PHP 500.00
4.2 PHP 600.00 SWIFT fee (cable)
5) Negotiation of Open Account (O/A),

Documents against Acceptance (D/A),

Documents against Payment (D/P)

 5.1 Commission of 1/4 of 1% for the first PHP 100,000.00 and 1/8 of 1% for the balance or a minimum of PHP 500.00 whichever is higher.
5.2 PHP 600.00 SWIFT fee (cable)
5.3 DST of PHP 0.60 for every PHP 200.00 or a fraction thereof.
5.4 Reimbursement fee of USD 15.00
B. Domestic LC
1) LC Opening 1.1 Commission of 1/4 of 1% for the first two (2) months and 1/8 of 1% thereafter or a minimum of PHP 1,000.00 whichever is higher.
1.2 Commitment fee of 1/8 of 1% based on face value of LC or a minimum of PHP 1,000.00 whichever is higher.
1.3 DST of PHP 0.60 for every PHP 200.00 or a fraction thereof.
2) Amendment to LC
          2.1 Increase in Amount 2.1.1 Commission of 1/4 of 1% for the first two (2) months and 1/8 of 1% thereafter or a minimum of PHP 500.00 whichever is higher.
2.1.2 Commitment fee of 1/8 of 1% or a minimum of PHP 500.00 whichever is higher.
2.1.3 DST of PHP 0.60 for every PHP 200.00 or a fraction thereof.
          2.2 Extension of Expiry Date 2.2.1 Commission of 1/4 of 1% for the first two (2) months and 1/8 of 1% thereafter or a minimum of PHP 500.00 whichever is higher.
2.2.2 Commitment fee of 1/8 of 1% or a minimum of PHP 500.00 whichever is higher.
          2.3 Others 2.3.1 Commission of PHP 500.00
3) Negotiation (Sight/Usance Domestic LC)

– Full Payment

 3.1 Commission of 1/8 of 1% or a minimum of PHP 1,000.00 whichever is higher.
4) Negotiation (Sight/Usance Domestic LC)

– Booking to Trust Receipt (T/R)

 4.1 Commission of 1/8 of 1% or a minimum of PHP 1,000.00 whichever is higher.
4.2. DST of PHP 40.00 for the first PHP 5,000.00 and PHP 20.00 for every succeeding PHP 5,000 or a fraction thereof.
4.3 Actual charge of the notarial fee (if any).
5) Cancellation of LC 5.1 PHP 500.00 cancellation fee
C. Export LC
1) Advising of LC 1.1 Commission of PHP 1,200.00
2) Confirmation of LC 2.1 Commission of 1/8 of 1% per quarter or fraction thereof or a minimum of USD 100.00 converted at prevailing selling rate.
3) Amendment to LC 3.1 Commission of USD 22.00 converted at prevailing selling rate or a minimum of PHP 500.00 whichever is higher.
3.2 PHP 600.00 SWIFT fee (if applicable).
4) Transfer of LC 4.1 Commission of PHP 1,500.00
4.2 PHP 1,000.00 SWIFT fee (if applicable).
5) Negotiation of Export of LC
         5.1 Export Bills Purchased (EBP) 5.1.1 Commission (Regular):
–    1/10 of 1% or a minimum of PHP500.00 whichever is higher.

–    1/10 of 1% on amount to be credited to account/loan or a minimum of PHP500.00 whichever is higher.
5.1.2 Commission (FCDU or in lieu of exchange):
5.1.3  1/4 of 1% in lieu of exchange on amount to be credited to account/loan or a minimum of PHP 500.00 whichever is higher.
5.1.4  DST of P0.60 for every PHP 200.00 or a fraction thereof.
5.1.5  PHP 600.00 Swift fee (if applicable).
5.1.6  PHP 700.00 postage fee per set of documents.
        5.2 Export Bills for Collection (EBC)

for credit to account of payment of

loan

 5.2.1 Commission (Regular):
– 1/4 of 1% for the first PHP 100,000.00 or PHP 250.00 whichever is higher and 1/8 of 1% for the succeeding balance or a minimum total of PHP 500.00 whichever is higher

– 1/10 of 1% on amount to be credited to account/loan or a minimum of PHP 500.00 whichever is higher
5.2.2 Commission (FCDU or in lieu of exchange):
1/4 of 1% in lieu of exchange on amount to be credited to account/loan or a minimum of PHP 500.00 whichever is higher.
5.2.3 DST of PHP 0.60 for every PHP 200.00 or a fraction thereof.
5.2.4 PHP 600.00 SWIFT fee (if applicable)
5.2.5 PHP 700.00 postage fee per set of documents
       5.3 Export Advances 5.3.1 Commission (Regular):
– 1/4 of 1% for the first PHP 100,000.00 or PHP 250.00 whichever is higher and 1/8 of 1% for the succeeding balance or a minimum total of PHP 500.00 whichever is higher.

– 1/10 of 1% on amount to be credited to account/loan or a minimum of PHP 500.00 whichever is higher.
5.3.2 Commission (FCDU or in lieu of exchange):
1/4 of 1% in lieu of exchange on amount to be credited to account/loan or a minimum of PHP 500.00 whichever is higher.
5.3.3 DST of PHP 60.00 for every PHP 200.00 or a fraction thereof.
5.3.4 PHP 600.00 SWIFT fee (if applicable)
5.3.5 PHP 700.00 postage fee per set of documents
D. Others
1) Bank Certification (Import/Export

Related Transactions)

 1.1 PHP 300.00 service fee per issuance.
2) Bank Authentication 2.1 PHP 100.00 service fee per issuance.

 For further inquiries or clarifications, please call or visit your branch of account or any Bank of Commerce branch near you. Click here to view the complete list of our branches.