Personal Care and Timely Attention are the hallmarks of our Private and Corporate Banking Division. We are focused on building long lasting mutually beneficial relationships. Each of our clients has a single point of contact to manage his/her business.
Our transaction and execution capabilities include:
- Unique checking and savings accounts such as Savings Chequing, Business Chequing, Current Accounts, Individual Retirement Accounts and Forty and Over Club Accounts
- Cash management systems such as cash collection and concentration, disbursement, and funds transfer
- Card products including individual and corporate credit cards, and merchant card processing
- Overdraft (lines of credit) and term loans
- Investment solutions such as certificate of deposits (CDs),
- Safe custody services
- International Banking services such as Letters of Credit, Wire Transfers, Foreign Exchange services
LOANS
Overdraft (Lines Of Credit)
We tailor our lines of credit to your precise and unique funding needs, and base them on a wider range of factors. Our lenders will assist you to facilitate seamless and cost-effective financing when you need to expand inventory, adjust to seasonal needs, alleviate cash flow shortages, or are faced with sudden, unexpected opportunities.
Term Loans
Business strategies differ and so do their financing needs. Our approach to lending is to customize loans to suit the needs of our clients. If you are considering a major business expenditure, such as the purchase of equipment or real estate our term loan financing is an attractive solution. It is typically repaid from your cash flow, over the useful life of the asset being financed.
Term loans are used for many reasons, such as to:
- Expand or renovate an existing facility, or build a new one
- Purchase or modernize equipment
- Refinance or restructure existing debt
- Finance acquisition of another business
Corporate Cards
Manage your organization's business expenses and monitor company spending more effectively Streamline your organizations purchasing process with worldwide acceptance. Our Corporate Credit Card is ideally suited to businesses or partnerships that want the convenience of a widely accepted payment facility for employees incurring business expenses.
Let us help you simplify your business travel expenses while augmenting your cash flow.
DEPOSITS
Individual Retirement Accounts
Picture this..financial security, well-placed investments and the luxury of retirement in years to come. Whether you are just beginning or you’ve settled into your career an ACB Individual Retirement Account allows you to cultivate a habit of saving and building your nest egg with modest and affordable contributions.
So consider the big picture… start an ACB IRA today.
Benefits and Features:
- Minimum: $5,000 to start
- Compulsory additions of at least $100 per month
- Interest rate that grows with your balance
- Option of a month pension over 10,15 or 20 years
First Start
First Start is an account held in Trust for Children until they are eighteen years and focus parents and children on saving towards a goal. The money can be used for college education or to give a jump start in life after school (e.g. first land purchase). Unlike the regular Junior Savings, there is a minimum monthly deposit of at least $200. Payments must be consistent and no more than two payments can be missed in any calendar year.
Payments can be made as a lump sum up front (at least $1200) annually, or monthly. An account officer will be assigned to follow up with phone calls or e-mail whenever a monthly payment is not made. Standing orders for this purpose are free.
Benefits and Features:
- A disciplined approach to your child’s financial future
- Use of a trusted neutral party (ACB Mortgage and Trust)to see to it that the money is spent the way you desire
Business Chequing
Every business needs a checking account, but your business is not the same as the one next door That’s why we offer a business chequing account that earns interest. You work hard to build your business and so should your money.
Benefits and Features:
- Reward of earn interest while writing cheques
- Unlimited cheque writing
- Monthly statements with cheques
- Minimum balance to qualify for interest is $50,000
Personal Chequing Account
As the pace of our life quickens convenience rises in importance. Our Personal Chequing reduces the need for frequent visits to the bank or the ATM to withdraw cash. As a Personal Chequing Account customer you:
Benefits and Features:
- Don’t need to carry unnecessary cash
- Can make automatic transfers with a standing order
- Get the first cheque book free
- Have free access to our eight convenient ATMs (Link to the ATM Information below) to use and manage your account
- Get Monthly statement with cheques to assist with your personal financial management
- Minimum service charge: $15
- No service charge during a month of no activity
- Cheque Book: Available at cost plus stamp duty
- Charge per entry: $1.25
Forty And Over Club
They say life begins at 40 so enjoy it. While you enjoy this exciting and productive stage of your life we have created a bundle of benefits to support you such as:
Benefits and Features:
- No commission on the purchase of ACB Visa Travelers Cheques
- No commission on the purchase of local drafts
That’s not all! Forty and Over Club members:
- Receive discount on purchases of over $100 from selected stores
- Gets Free ATM card to use at our eight machines around the island
- Are eligible for a credit card
- Interest rate: 4% on balances of $5,000 and over
Contact us:
Tel: 1-268-481-4150
Fax: 1-268-481-4158
email: privatebank@acbonline.com
