Business partners

Remuneration, commission and other payments

You are entitled to information of any remuneration (including commission) or other payments that we, your advisers and other relevant persons, receive and that may affect the quality of the advice you receive. This document was prepared to help you decide whether you wish to make use of the financial services that we offer. It contains details of the remuneration that Jyske Bank (Gibraltar) Limited, the bank's employees and business partners receive in respect of these services.

Commission and other payments that we receive from our business partners

When you receive financial services from us, we generally act on our own behalf and not as a representative or an agent of another person. We are, however, able to offer you financial products made available by companies associated with Jyske Bank A/S as well as other business partners, and for which we are paid in the form of commission and other payments.

Investment in package solutions and structured products

With respect to package solutions (investment associations and insurance-based investment products) and structured products, fees and commission are generally charged on the basis of the amount you invest and the product provider deducts these from your invested funds when they are received.

A part of the up-front fee that is charged by product providers can be paid to us as a one-off commission. A part of any administrative fee charged by the product provider on the basis of the value of your investment may (also) be paid to us as a regular commission. The more funds you invest in the product and the longer you keep your investment, the higher the commission we receive from the product provider.

1: Commission that Jyske Bank (Gibraltar) Limited receives from various business partners

Product One-off commission Regular commission Other commission and other types of cash remuneration
Franklin Templeton International Services S.A.
All funds Up to 3% of the nominal amount that you invest in a fund 0.45-1.00% p.a. of assets under management  
Irish Life International Limited
ILI Spanish Portfolio Bonds   (based on our estimate) 0.8% annually of the total premium you pay to ILI.  
Jyske Invest
All investment associations a percentage of the nominal amount that you invest in a fund, as follows:
0.75%-1.00% for bond funds
1.25%-2.25% for equity funds
0.8%-1.375% for strategy funds
advisory services and agency commission on the basis of the average market value of the fund's assets, calculated and received quarterly as follows:
0.50%-0.75% for bond funds
1.00%-1.25% for equity funds
1.00%-1.75% for strategy funds
brokerage calculated on the basis of the market value of the certificates that you wish to buy or sell, as follows:
0.25%-0.50% for bond funds
0.25%-0.50% for equity funds
0.25%-0.50% for mixed funds
Royal Bank of Scotland
Barrier Reverse Convertibles   annual sales commission of 1.00% of the nominal value  
Schroder Investment Management (Luxemborg)
All funds Up to 3% of the nominal amount that you invest in a fund 0.20-1.00% p.a. of assets under management  
UBS Warburg
Certificates of Deposit up to 1% of the nominal value if the certificates were purchased during the offer period annual portfolio commission of 0.3% of the market value  
Discount Certificates of Deposit 0.3% of the nominal value if the certificates were purchased during the offer period    
Fund of Hedge Fund Certificates up to 2% of the nominal value if the certificates were purchased during the offer period annual portfolio commission of 0.5% of the market value  
Visa International
All Visa cards     from 0.55% to 0.95% of the card balance within the EU and from 0.95% to 1.60% of the card balance outside the EU.

Commission and other payments that we pay to our business partners

Mortgage credits

if you receive personal financial advice from an independent financial adviser or from a mortgage bank in respect of the mortgage credit products that we offer, such advisers or mortgage banks may receive the following payments from us:

  • One-off commission based on either a one-off amount or a percentage payment depending on the size of the loan. If we pay a commission as a percentage, the more you borrow, the more your independent financial adviser or your mortgage bank will receive from us.
  • Regular commission, which is a percentage of the balanceof the outstanding loan, is payable monthly or annually. The longer period your loan is outstanding and the higher the outstanding balance, the higher the income your independent financial adviser or your mortgage bank will receive on the basis of the loan.

Referrals

We may pay commission or similar remunerations to the one who referred you to us, depending on the products and services you choose. Such payments or remunerations may be a one-off fee or a percentage of the total income resulting from the referral.

To achieve the best possible transparency, we have agreed with our business partners that they inform you of the commission we pay to them. Therefore you may already have received a one-page document from such a business partner. If you have been referred to us by a third party and would like to know whether this party has received a commission for referring you to us and, if so, which amount, please contact our Business Development Department.

How are employees of Jyske Bank salaried?

All our employees are salary earners and do not receive any part of the commissions or fees that are paid to us. They are, however, entitled to an annual salary revision based on a number of circumstances, including performance, personal development and client service standards.