RSSBritish Virgin Islands Bank offers a wide range of banking services which include the following:
• Current accounts
• Savings accounts
• Fixed term deposits
• Credit cards
• Call (instant access) accounts
• Worldwide automated payments
• Foreign exchange
• Letters of credit
Current Accounts
Current accounts do not attract interest and are subject to a service charge is charged per quarter. Check books are issued on these accounts and personalized checks are available on request.
Fixed Term Deposits
Fixed term deposits are available in most major currencies and can be placed for a term of seven days up to a year. The interest rate payable is fixed for the term of the deposit and depends upon market conditions at the time the deposit is placed, the term of the deposit and the amount which is placed. Indicative rates are available on a daily basis. The minimum opening balance for a fixed term deposit is $10,000.
Credit Cards
US dollar credit card offers a range of distinct advantages for you. There is a choice of Visa or MasterCard, and a range of extra benefits including travel insurance, emergency cash and access to the worldwide ATM network. When you take out a credit card, the security the bank takes is 'set-off' against funds you have on deposit with the bank. The 'set-off' allocated will be based upon the limit of the card, and the funds 'set-off' will continue to earn interest.
Requirements for opening a bank account
• Bank forms and Application (signed and notarized)
• Bankers letter of reference (must be addressed to the bank quoting the term and quality of the relationship with your last known address stated)
• Positive identification (in the form of a valid passport and driver's license)
• Confirmation of address (via two paid utility bills)
• Minimum deposit of $1,000
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