Important Notes for swift transfers through CBK:

  • Transfers to Riyadh Bank are not allowed.
  • Transfers made to local banks after 6:45PM will be processed the next business day.
  • Transfers made to international banks for amounts less than KD25000/- or equivalent in foreign currencies will be transferred in the same day.
  • Transfers made to international banks after 3:30pm for amounts greater than KD25000/- or equivalent in foreign currencies will be transferred in the next business day.
  • Correspondent & beneficiary banks may apply additional processing fees from the transferred amount
  • Charges might be applied by correspondent/beneficiary banks, which will be debited from the customer's account (if any) or in case of providing any incorrect details such as the Beneficiary Account or Bank SWIFT code.
  • Customer must mention the purpose of payment before making the transfer.

Swift / Telex Transfer Terms & Conditions

  • These terms & conditions are legally binding on the customer to that extent they are not contradicting the customer’s other contractual or legal obligations towards the Bank.
  • It is understood that the swift shall be sent at the purchaser / customer / applicant’s responsibility and expense, and the Bank will not be held liable and shall not incur any cost in case of any delay, procedural or technical error or in the event, the beneficiary bank rejects to receive the swift.
  • The customer unconditionally and irrevocably authorizes the Bank to respond, at its absolute discretion and without referring back to the customer, to any queries received from banks or other financial institutions with respect to transfers and transactions from any or all the accounts of the customer in accordance with the Anti-Money Laundering and Combating the Financing of Terrorism Policy without contradicting the Information Security Policy.
  • At the Bank’s request, the customer is liable to submit the documents substantiating the transfer. This may include bills, bills of lading and any other related documents for each transfer.
  • The customer acknowledges his full responsibility for the correctness & accuracy of any document or data/information that he provides Bank therewith and discharges the Bank from any responsibility relating to the same.
  • The customer authorizes the Bank to obtain any required information about the customer from any government or non-government authority.
  • The customer acknowledges his full awareness and approval that any requests for amendment or cancellation submitted by him shall be provided by means of a written application signed by the customer and delivered at any of the Bank's branches or any other approved channels. The Bank shall initiate work on the applications only during official working hours. Time zones shall be considered while conducting international transfers.
  • The customer shall hereby comply with all the applicable laws in State of Kuwait and the terms and conditions of Commercial Bank of Kuwait and the terms and conditions of both Visa and MasterCard Corporations across the world and shall not use the service for any purchase, acquisition of services or any objectives in breach of the law. The customer shall bear the full legal liability for any breach that may arise as a result thereof. Commercial Bank of Kuwait shall, in such case, suspend dealings on all customer’s accounts including withdrawals and blocking.
  • The customer acknowledges the following:
    • Reading, understanding, approval and compliance with all laws and provisions related to all banking services provided by the Bank and available on the Bank’s Website, in addition to compliance with all the terms and conditions.
    • Signing any of the applications and statements required by Bank shall constitute final and irrevocable approval on the contents stipulated therein and that he shall not revoke, claim, or challenge the stipulations after his signature thereon.
  • The Bank shall have the right to suspend any accounts in case the Bank has suspicion of a legal or financial breach or suspicious transactions. The Bank is also entitled to withdraw and block any account of the customer without notice or warning in accordance with the Anti-Money Laundering and Combating the Financing of Terrorism Policy.
  • In the event that the customer requests the cancellation of a transfer for any reason, the customer agrees to incur the cancellation charges as per the fees and commissions list, the charges of the beneficiary, intermediary and correspondent banks, if any, and to incur the exchange rate changes relevant to that transfer.
  • The Bank shall have no responsibility if the beneficiary, intermediary or correspondent bank withholds the transferred amount in case of a legal suspicion arises against the beneficiary.
  • The Bank shall not be responsible for any delay in processing the swift in case of force majeure and natural crisis or modification of related laws & regulations applicable or electronic system failure or error on the service providers’ part or failure in processing the swift or the bad connection on the customer’s part when transferring the funds himself. However, the customer shall incur the risks arising from this delay whether the said reasons occurred at local or international level.
  • It is agreed that the customer / purchaser / applicant may not claim indemnity from the Bank for any damage, costs, or expenses that may arise/result from any payments effected on the beneficiary’s account number as provided to the Bank by the customer / purchaser / applicant as contained in the swift transfer application form. In case the customer / purchaser / applicant insists on getting a transfer transaction processed in currency other than the official currency of the country to which funds are transferred, the customer / purchaser / applicant may not claim indemnity from the Bank for any delay in paying him or the beneficiary the transferred amount.
  • The customer acknowledges to incur the fees applied by the correspondent / intermediary / beneficiary bank (if any) to be deducted from the customer's account and all commissions / fees / expenses for effecting the transfer and its payment to the final beneficiary.
  • The customer shall acknowledge his commitment to accept all incurred charges covering commissions / fees / expenses / exchange rate differences in case correspondent / intermediary / beneficiary bank rejects the transfer for whatever reason.
  • The customer shall incur the fees applied by the correspondent / intermediary / beneficiary bank (if any) to be deducted from the customer's account and all commissions / fees / expenses in case the customer provides incorrect details such as the SWIFT address or wrong beneficiary account or other incorrect information.
  • The Bank shall not be liable for the frauds committed by third party during funds transfer nor shall be responsible for the customer’s negligence or intentional inappropriate action.
  • The customer acknowledges its consent that the Bank shall apply the commissions set out in the list of fees and commissions (tariff) as declared by the Bank and related amendments to be introduced in future as per banking policies & instructions.
  • The Bank may initiate legal proceedings against the customer under Law no. 106/2013 and as per the Central Bank of Kuwait’s instructions no. (2/BS/IBS/432/2019) and any subsequent amendments thereto in case AML/ CFT suspicions arise without any responsibility on the part of the Bank. The Bank may withhold any transferred funds if involved AML/CFT suspicions. Further, the Bank may delay the transfer for verification purposes or abstain from transferring the funds when suspecting that such transfer involves money laundering or terrorism financing. The Bank also has the right to refrain from transferring funds to individuals or companies which are included in the black list of any country or subject to international sanctions imposed thereon, or to any fictitious name or entity
  • These terms and conditions are subject to and construed as per the laws enforceable in the State of Kuwait. Any judicial disputes or claims between the customer and the Bank shall be subject to the jurisdiction of Kuwait courts. This will not diminish the Bank’s right to initiate legal proceedings against the customer before any judicial or legal entity whether in or outside Kuwait.
  • The Bank may amend, add or cancel any of these terms & conditions, without referring to the customer, as per the policies & regulations applicable with the Bank and the Central Bank of Kuwait’s instructions.