Open Personal Account

Open a personal account

A personal account is an account in the name of a real person (or persons). Opening a personal account with Loyal Bank is simple. Please follow the directions below:

Please complete, print and sign one copy of the Account Opening Form
To download it you will need to have Adobe Acrobat Reader installed on your computer: If you do not have Adobe Acrobat Reader, you can download it for FREE here.

For due diligence purposes you need to provide the following documents along with your account opening form:

  • A Notarized or Certified True Copy of Account Holder's and Additional Authorised Cardholder's (if any) passport or other acceptable ID (we must be able to clearly identify the page with photo and signature)

We kindly ask that USA and Canadian citizens also provide two forms of notarized ID documents, which can be a copy of your Driver's License or National ID card. Please also give us your Social security number.

  • A notarised or verified copy, or an original Utility Bill or Bank Statement as proof of address for the Account Holder and Additional Authorized Cardholder (if any): these documents must be recent and not more than 3 months old
  • Our specimen signature form with a separate form completed by each person who intends to sign for the account
  • A Bank Reference Letter for the Account Holder and Additional Authorised Cardholder (if any). The reference letter must be less than three months old and addressed to Loyal Bank however please tell us at once if you cannot meet this requirement as we know that in some countries this is difficult.
  • Complete our FATCA Declaration Form. This form must be fully completed by all applicants (Corporate Entity, Private Individuals) regardless of Nationality and or Citizenship to facilitate the Bank’s obligation under FATCA. To learn about FATCA please click here.

 

Please courier copies of the signed forms and the supporting documents to the address below. Our preferred courier is DHL.

We can double check and pre-approve your application before you send us the courier package of original documents. Simply scan all of the documents and email them to us at . We will let you know if everything is correct before you send the originals by courier.

For security reasons there is a size limit of 6 MB (including all attachments) for all incoming emails. Therefore, e-mails exceeding this limit might not get through to us so please break down large files into separate e-mails not exceeding 6 MB each.

 

Address

LOYAL BANK LIMITED

Cedar Hill Crest
P.O. Box 1825
VC0100 Kingstown
St. Vincent and the Grenadines
West Indies

  • Once we have completed our due diligence checks and our Compliance Department have approved the account, Customer Services will email you your initial Internet Access Code (5 digits). They will use the email address you provided to us at account opening. This gives you the ability to check your account transactions and account history.
  • For security reasons your Account Number (12 digits) and Customer ID (8 digits) will be sent to you in a separate email.
  • Once you have your Account Number, Customer ID and wire details you need to transfer funds to activate your account. For transfers above our threshold limit, you will be asked to submit a Declaration of Source of Funds (DSF) for incoming wires and a Customer Wire Request (CWR) for outgoing wires.

If the account opening documents provided are incomplete, unverified or are not clear we may have to request further information, documents or clarification from you before we can open your account.

First deposit to cover bank charges for a personal account

First deposit to cover bank charges for a personal account with MasterCard debit card

 MasterCard 

To activate your account, and receive your bank card you need to make an initial transfer to cover the following amounts:

  • The account opening fee covering the bank card and the LB DIGIPASS Application. 
  • An additional sum of USD/EUR 50 (in the currency of your account), to cover correspondent bank charges and incoming transfer fee.
  • Courier fee, if your banking package is to be sent by courier (Regular airmailing of the banking packages is included in the account opening fee but we recommend the use of courier service especially outside of Europe.)
  • The account opening fee for multicurrency accounts and the related bank card issuance fees. 
  • Security reserve (blocked amount)

For the relevant fees please click here.

 

Your bank card will be sent to the mailing address given by you on the application form. You can then set your own bank card PIN code using NetBank. Depending on your location, the packages will arrive within 1-2 weeks after dispatch.

Your bank card will be sent to you "inactive". You can activate it in NetBank or by contacting Customer Services.

 

First deposit to cover bank charges for a personal account with MasterCard Platinum debit card

MasterCard

To activate your account, and receive your bank card, you need to make an initial transfer to cover the total of the following amounts:

  • The account opening fee covering the bank card and the LB DIGIPASS Application. 
  • An additional sum of USD/EUR 50 (in the currency of your account), to cover correspondent bank charges and incoming transfer fee.
  • The account opening fee of multicurrency accounts and the related bank card issuance fees. 
  • The security reserve (blocked amount)
  • Minimum deposit for the Platinum Card account: USD/EUR 5,000.

For relevant fees please click here.

Your bank card will be sent to the mailing address you have provided. Until your account is funded and activated we are unfortunately not able to send you the banking package.

You can then set your own bank card PIN code using NetBank (our internet banking). Depending on your location, the packages will arrive within 1-2 weeks after dispatch.

Your bank card will be sent to you "inactive". You can activate it in NetBank or by contacting Customer Services.

Address

LOYAL BANK LIMITED
HEAD OFFICE

Cedar Hill Crest Villa
P.O. Box 1825
Kingstown VC0100
St. Vincent and the Grenadines
West Indies

Changes to a Personal Account

If you need to change or update the data relating to your Personal Account, please log-in to NetBank and request the additional service/feature you need. Should you need any additional assistance, our Customer Services team would be delighted to help you. (Typical changes to your corporate account may be: asking to receive bank statements, requesting a EUR/USD card, opening a multi-currency account, or updating the personal details for the Authorised Person.)

We will confirm your new details or account service by email within ten banking days of receipt of your documents.

Legal requirement: By signing the documents downloaded from NetBank or sent to you by the bank you agree with the provisions of the Bank's Business Rules and Regulations and are aware of the terms and conditions outlined in the Bank Account Conditions.