FX Fee Schedule Changes

We would like to inform you of an important update to Trusted Novus Bank’s (TN Bank) fee schedule with respect to foreign exchange (FX) currency conversions. 

Effective from 1st June 2026: 

• We will no longer offer a tiered pricing model for FX transactions but instead apply the standard spread of 2%, regardless of transaction size.

• You may contact your Relationship Manager directly to negotiate one-off rates for large FX transactions of £100,000 or more.

• If you have bespoke FX rate arrangements, you will continue to have these rates applied for transactions where currency exchange is applicable. 

• For securities-related transactions that have an embedded FX such as trades, corporate actions or dividend payments, a standard spread of 0.25% will apply. 

 
We are aware of instances where these new rates have been applied before the effective date mentioned above. Please be assured that we have identified where customers have been overcharged and will continue to do so until 1st June 2026. We will be arranging appropriate refunds at the earliest opportunity. 

Please note that any applicable refund has already been applied to your account. In case of these refunds being backdated, you may see multiple interest adjustments or account entries.  

If you have any questions or would like to discuss your FX needs, please don’t hesitate to reach out to your Relationship Manager. Thank you for your continued support and understanding.