New Procedures for Wire Transfers

At Bank of Saint Lucia Limited we are always looking for new ways to improve customer service to you and make your banking experience an enjoyable one.

In order for this new system to work smoothly a new Payment Order Form must be completed and signed by you before you are attended to by our Customer Service Representatives. The new form will be available from 28th May, 2007 and can be downloaded here or collected at any one of our branches.

The procedures for completing the new payment order forms are illustrated on the attached samples.  To view samples of the new payment order forms please click on the relevant form below:

Manager's Cheque
Interbank Settlement
Bank Draft
Wire Transfer

When filling out the form, we wish to draw your attention to the following areas of importance:

1. With respect to all payments (international wire transfers, international drafts, Manager’s Cheques, and Inter-bank Settlements):-
   
   
   1. The value of the transaction being requested plus the Bank’s charges will now be debited from an account indicated by you and to which you are a signatory. In order to further expedite the new process, we are requesting that you debit your account directly rather than using cash or other forms of payment. Any funds offered by you for the payment of the transaction will first be credited to your account then debited from that account when your request is being processed.
   2. A new Payment Order Form must be completed and signed for every payment requested.
   3. Where a third party is conducting the transaction on your behalf, this individual must sign the Payment Order Form in the presence of the Bank officer attending to him/her. The third party will also be required to produce a valid: passport, or driver’s license, or national ID card as proof of identification.
   
   
2. With respect to international wire transfers:-
   
   We are also improving our Know Your Customer (KYC) and compliance regulations.  In that regard, we are requesting that you provide us with: 
    
   1. The complete name and business address of the beneficiary’s bank and that bank’s BIC (Bank Identification Code) or routing information. For banks in the Euro zone, an IBAN (International Bank Account Number) is required. This information can be obtained from the beneficiary’s bank or through the beneficiary.
      
   2. The complete name and residential address of the beneficiary.
      
   3. A reason for sending the wire transfer.
   
   
3. With respect to international drafts and Manager’s Cheques:-
   
   We are improving our Know Your Customer (KYC) and compliance regulations in this area also. In assisting the Bank in complying with these international banking protocols, if you are not currently doing so, we are requesting that you provide us with:

• The complete name and residential address of the payee.
  
• A reason for having the draft or Manager’s Cheque prepared.

We wish to thank you for giving us an opportunity to serve you better and pledge our continued commitment to improving the products and  services we deliver to you. Should you require additional information, we invite you to speak with any of our bank representatives or contact us via telephone at 456-6999.