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Wire transfer services — important update

Last updated: 21 May 2026

As of 21 May 2026 Tenet Clients have been informed of an important update regarding wire transfer facilities at Tenet Bank.

Our sole correspondent banking partner has taken a strategic decision to exit the foreign correspondent banking product line globally, and has set 29 May 2026 as the cessation date for its correspondent banking services for Tenet. This decision is not a consequence of any actions by Tenet.

Tenet is working hard to put alternative correspondent banking arrangements in place. Minimising the impact on our clients is a top concern. However, as of today's date, we have not been able to complete onboarding with an alternative correspondent. As a result, wire transfer facilities will likely be impacted from 29 May 2026.

All Clients should have received an email from Tenet about this development. Please read it carefully. This Tenet Help article summarises the same information for ease of reference.

If you have any question about this update, please reach out to client.services@tenet.ky.

What this means for you

  • Our correspondent account will be placed into a hold status effective close of business on 29 May 2026.
  • A hold means no incoming or outgoing wire transfers through that correspondent arrangement until wire services are restored.
  • After that date, we will not process further client wire transfers through that path. Scheduled wire payments will not continue after the hold.
  • From the hold date, you cannot move funds into or out of your Tenet operating account via wire until correspondent wire services are restored.
  • Your balance remains credited to your Tenet operating account.
  • We are working hard to complete onboarding with a replacement correspondent and resume wire services. We cannot say at this time when wire transfer services through a new arrangement will be available again.
  • Until services are restored, international wires through the exiting correspondent path remain unavailable.

What is not changing?

  • Tenet Bank continues to operate as a regulated offshore bank. We are not closing.
  • Your money with Tenet remains safe. Client balances continue to be held in cash or liquid securities under our standard arrangements.
  • Tenet provides corporate operating accounts. For these accounts, international wire transfers are how funds are sent and received. This update is about that wire path—not a change to whether your account exists or whether your balance is held with Tenet.

Do I need to do anything?

We are working hard to restore wire services, but we cannot tell you today when they will be available again. If you anticipate needing access to funds during the interruption, you should instruct an outgoing wire transfer in the usual way before the cut-off so we can process it while the current correspondent path is still open.

Submit outgoing wires in TenetOS before 12:00 p.m. Eastern time on 28 May 2026 — that is the fastest way to get a transfer authorised, in line with your account sign-off arrangements in TenetOS. We will work to complete any requests submitted before that time. For a secure message from your authorised representatives, use TenetOS messaging.

If you do not instruct a transfer before the cut-off, your balance with Tenet remains safe. Missing the cut-off does not pay out or release your balance to you; it means you cannot move funds by wire until correspondent services are restored. From close of business on 29 May 2026 you will not be able to move funds in or out of your Tenet operating account via wire until that happens; we will update this page when wire transfers can resume, and we cannot provide a date for that today.

Frequently asked questions

Why is this happening?
Our correspondent banking partner is leaving this line of business globally. Other banks are affected by similar industry changes.

Are my funds safe?
Yes. Your balance with Tenet continues to be held in cash or liquid securities throughout the hold, under our standard arrangements. Wire transfers through the exiting correspondent pause from 29 May 2026 until services are restored—that stops movement via that path; it does not mean Tenet ceases to hold your balance for you.

Is Tenet closing?
No.

Will my Tenet operating account still exist?
Yes. Your account and balance remains with Tenet. Tenet provides operating accounts; moving funds on these accounts is done by international wire transfer. After close of business on 29 May 2026 you cannot move funds in or out via wire until correspondent services are restored. Use TenetOS before the cut-off if you need to instruct an outgoing transfer, and contact Client Services if you need help.

When will wire transfers work again?
We are working hard to restore wire services through a new correspondent arrangement. We will post an update on this page when wire transfers can resume. We cannot say at this time when that will be—if you may need access to funds in the meantime, instruct an outgoing transfer before 12:00 p.m. Eastern on 28 May 2026 (see above).

Can I still receive wires into my account?
Incoming wires must be submitted by 12:00 p.m. Eastern on 28 May 2026. After the hold begins, incoming wires through the exiting correspondent will not be processed until services are established with a new correspondent banking partner.

What about recurring, or scheduled wire payments? Recurring, or scheduled wire payments will not continue through the exiting correspondent path after close of business on 29 May 2026. Please review any scheduled or recurring wires and make alternative arrangements before 28 May 2026 if needed.

Will my wire instructions or account number change?
Your Tenet account number is unchanged. If routing details for incoming wires change when a new correspondent is live, we will send a separate, short notice with any updates you need to pass to senders.

Who is the new correspondent bank?
We will name our replacement correspondent in client communications when that relationship is confirmed. This page will be updated at that time.

After 29 May 2026 (hold period)

From close of business on 29 May 2026 the correspondent arrangement is on hold. During the hold we cannot process incoming or outgoing client wire transfers through that path—you cannot move funds in or out of your Tenet operating account via wire. Your balance remains held for you as a Tenet client in cash or liquid securities; the hold is not a period in which Tenet pays out or releases your balance to you. We are working hard to close this interruption; we cannot say at this time when wire services will be available again. When they are restored, we will update this page and notify affected clients.

Frequently Asked Questions (if you are applying for an account with Tenet)

Why is this affecting my application?
Our correspondent banking partner is leaving this line of business globally. Other banks are affected by similar industry changes. This update is about when wire services will be available after you become a client—not a problem with your application itself.

I am in the process of opening a Tenet account. What does this mean for me?
We are delighted to continue with your onboarding and there is no reason to pause or delay that process. Your account opening will proceed as normal. However we want to be transparent with you: wire transfer facilities will be temporarily unavailable from 29 May 2026 until our new correspondent arrangement is in place. If you anticipate needing wire transfer access shortly after your account opens, we would recommend ensuring you have an alternative banking arrangement available in the interim. We will be in touch as soon as we have news on our new correspondent and will confirm when wire services are restored.

Can I still open an account with Tenet during the suspension period?
Yes. Account opening is continuing as normal and we welcome new clients. The temporary suspension affects wire transfer facilities only — your account, your balance, and your relationship with Tenet are not affected by this change once you are a client. We will notify clients when wire transfer services are restored.

Should I put my onboarding on hold until wire services are restored?
That is entirely your decision and we respect it. If wire transfer access is important to your immediate needs we would suggest ensuring you have an alternative arrangement in place to cover the hold period.

I have been approved for a Tenet account but have not yet made my opening deposit. What happens to my account?
Your approved account will remain open and ready for you. We will not close or expire an approved account during the suspension period. Once wire transfer services are restored through our new correspondent arrangement we will be in touch to confirm you can make your initial deposit and get started. There is nothing you need to do in the meantime and we look forward to welcoming you as a client.

I need international wires as soon as my account opens—what should I do?
Wire transfer facilities will likely be impacted from 29 May 2026 until our new correspondent arrangement is in place. If you will need international wire services soon after opening, ensure you have an alternative banking arrangement available for near-term needs while we complete our correspondent transition.

Security reminder

This is our standing practice, and it is worth repeating: Tenet will never contact you to ask for your TenetOS password, one-time codes, or other login details, or to ask you to move funds to a different account for "safety." If you receive a call, email, or message that claims to be from Tenet and asks for those things, it is not from us.

If you are unsure whether a contact is genuine, reach us using details you already have—not a link or phone number in the message you are questioning. Email client.services@tenet.ky or use TenetOS messaging. Submit wire instructions, and confirm any change to who you pay, through TenetOS in line with your account sign-off arrangements, or after you have verified the request with your usual Tenet contacts.

Questions or help with a transfer

Please reach out to client.services@tenet.ky with any question about this update, your account, or submitting a transfer before the cut-off.

Submit outgoing wires before the cut-off in TenetOS (Payments). For help using TenetOS or a secure message from your authorised representatives, contact Client Services at client.services@tenet.ky or use TenetOS messaging.

Formal complaints

This article explains the wire suspension programme. If you wish to raise a formal complaint about Tenet (separate from day-to-day Client Services questions), use Tenet's published Complaints procedure:

  • Email: complaints@tenet.ky
  • Postal mail: as set out on that page (Chief Risk Officer, Tenet Bank Ltd.)

We will acknowledge your complaint within five business days and aim to resolve it within four weeks, as described on the complaints page. If you remain dissatisfied with our final response, that page explains how you may contact the Cayman Islands Monetary Authority.