Required documents to open a personal account to become bank client

Instructions for Opening Personal Bank Account

Required documents for opening Personal account:

(1)Please complete, print and sign two copies of the Bank Account Contract (account_contract.pdf)

(2) Please complete, print and sign one copy of Personal Account Opening Form (personal_account_opening_form.pdf).

Please make sure that on the botton of document the following ID is printed: "For Office Use only" 10055049 DRAG

*** Please be sure to enclose the following documents required. ***

(3) A Notarized Copy of Account Holder's and Additional Authorised Cardholder's (if any) passport or other acceptable ID (the page with photo and signature)
US and Canadian citizens please provide additionally a notarized copy of your Driver's License.

(4)A copy of Utility Bill or Bank Statement as a proof of address for Account Holder and Additional Authorised Cardholder(if any)

(5) Bank References for Account Holder and Additional Authorised Cardholder (if any). No more than 3 months old, directed to Bank`s name “Loyal Bank Ltd” or to “whom it may concern”

(6) A password, consisting of not more than 10 Latin characters chosen by you, in a sealed envelope. This password is needed in case you would like to block the Digipass or bankcard.

Get a Personal account advisor: To speed up the processing of your documents and assistance to follow up account opening, you can first send a scanned copy of your documents via email at:

(7) Mail the copies of the signed forms and supporting documents to one of the addresses specified below (courier is preferable):

From Europe and Asia	From Americas and the rest of the world
LOYAL BANK Representative Office Bácskai u. 1-2. fszt. 2. H-1145 Hungary Budapest	LOYAL BANK LIMITED Cedar Hill Crest P.O. Box 1825 VC0100 Kingstown St. Vincent & the Grenadines West Indies

ACTIVATION

Within 2-3 banking days upon receipt of your documents and approval of the applications, Bank shall issue your Account Number (12 digits) and Customer ID (8 digits). You will be informed via e-mail first.

Maestro

For account with Maestro/Cirrus debit card the first transfer should be larger than:

Account with the bankcard only: USD 110 (includes an account opening fee, Maestro/Cirrus debit card, PIN code, IAC, its issuance, personalization, the postage and a blocked amount)
Account with Digipass USD 215 (includes an account opening fee, Maestro/Cirrus debit card, PIN code, IAC, the Digipass its issuance, personalization, the postage and a blocked amount)

Due to possible correspondent bank charges we suggest to transfer: minimum USD 160 for the account opening with Cirrus/Maestro card only; minimum USD 265 for the account opening with Digipass and Cirrus/Maestro card.

Once the funds are on your account, US$ Maestro/ Cirrus debit card will be issued.
First the PIN code for your debit card, together with the 8-digit Internet Access Code for balance enquiry, Account Number and Customer ID will be mailed to you.

USD Maestro/ Cirrus debit card together with Digipass (if requested) will be sent separately on the next few days.

You should receive all of the above items within 5-12 business days from the date of dispatch (depending on your location).

Please specify additionally, if you wish to receive them by courier at your own cost (85 US$).

As soon as account is paid, you will receive your Banking Package containing all necessary information for operating the account, ATM debit Card and Internet Access Code.

MasterCard

For account with MasterCard debit card the first transfer should be larger than:

Account with the bankcard only USD 270
Account with Digipass USD 315

Due to possible correspondent bank charges we suggest to transfer: minimum USD 320 for the account opening with MasterCard debit card only minimum USD 365 for the account opening with Digipass and MasterCard debit card.
Once the funds are on your account, USD MasterCard debit card will be issued.
First the MasterCard debit card together with Digipass (if requested), Account Number and Customer ID will be mailed to you.
PIN code for your debit card, together with the 8-digit Internet Access Code for balance enquiry will be mailed to you separately on the next few days. Please note that MasterCard debit cards are always mailed by courier for security reasons. The account opening fee includes the cost of two separate courier packages (85.00 USD/package).
The security deposit (USD 200 +1% of the previous day closing balance) should be transferred as soon as you receive the MasterCard debit card and the PIN

Full list of Fees and Charges for Personal Bank Account

A bit of information about offshore banking - A bit of information about St Vincent & The Grenadines - Which is the Bank name I will open the Bank account? - Benefits of being a customer of the Bank - FAQ Frequently Asked Questions - Required documents for opening Personal Bank Account - Required documents for opening Corporate Bank account - Fees and Charges for Personal Bank Account - Fees and Charges for Corporate Bank Account - Which are the benefits of Digipass device? Which is the Digipass? - List of Banks in the Caribbean - Contact us

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