News and Updates
July 23, 2010
Emancipation Holiday
Dear Clients,
Please be informed that Monday August 2, 2010 is Emancipation Day in St. Lucia. Therefore, our office will be closed. Our office will reopen on Tuesday August 3, 2010.
Kind regards
Bernd Dittrich
Client Relations Supervisor
bernd.dittrich@boslil.com
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June 11, 2010
Misdirected Payments
Dear Clients,
On rare occasions, international payments in favour of client accounts with BOSLIL are misdirected and end up at our sister bank, Bank of Saint Lucia Limited, or vice versa. The error usually lies with the sending bank mistaking one entity for the other, resulting in payments being sent to the wrong institution.
International banking compliance rules prohibit us from settling these funds internally on behalf of each other, which would otherwise avoid further delays and fee deductions. As a result, such funds are returned to the sending bank.
To avoid this scenario, we ask you to reiterate to your debtors that payment instructions to their bank must contain BOSLIL’s most recent Wiring Instructions, that is, via our correspondent bank ING Belgium SA/NV, through their correspondent bank network.
Please feel free to contact your Client Relations Officer or myself for further details. If required, we can individually tailor such payment instructions for the payer, once their bank details (sending bank and its correspondent bank) are known.
Please note that domestic transfers within St. Lucia and in East Caribbean dollars are not affected by this change.
Kind regards
Bernd Dittrich
Client Relations Supervisor
bernd.dittrich@boslil.com
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June 10, 2010
Phishing Attempt
Dear Clients,
Today another invalid and illegal attempt to capture online user details has been brought to our attention.
Please note that ECFH systems will under no circumstances send emails requiring you to confirm login credentials and any emails of this nature that you receive, whether to your business or personal email accounts, should be treated cautiously and deleted without opening.
Kind regards
Bernd Dittrich
Client Relations Supervisor
bernd.dittrich@boslil.com
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December 1, 2009
New BOSLIL Fee Schedule effective from January 1, 2010
Dear BOSLIL Clients,
We would like to inform you about upcoming changes to our fee schedule. After five years without changing our fees for the banking services provided, BOSLIL has undertaken an exercise to examine the costs and effort required to provide our services and the remuneration received. Our project team has not only analysed our internal processes but also compared our fees with those of competitors. We have worked hard to improve processes and increase efficiency where possible to keep our pricing stable, but in some instances came to the conclusion that changes to our fee structure were required. Our new Schedule for Commission and Fees will become effective from January 1, 2010.
In keeping with the values of trust, integrity and transparency that have allowed BOSLIL to stand out during this turbulent financial times and build even stronger relationships with you, our valued clients, we have provided a Comparative Fee Schedule to highlight for your ease of reference the changes referred to above. Again, we have worked hard to maintain our fees at traditional levels, but in the current environment and that expected to go forward, increased efforts will be required. The changes made we believe will achieve the balance that allows you to continue receiving a valued service, while at the same time compensating the bank for its efforts and ensuring that we continue to remain a strong and vibrant financial partner.
While we are aware that price increases may not be met with general approval, we are certain that by adapting our fees now we will be able to continue providing the excellent customer service that you, our valued clients, have come to rely on. Should you have any questions and/or comments please do not hesitate to contact me via telephone at +1 758 452 0444 or via email at bernd.dittrich@boslil.com for further information.
Best regards,
Bernd Dittrich
Client Relationship Supervisor
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November 23, 2009
New Payment Service Provider
Dear BOSLIL-Clients,
Our team at BOSLIL is happy to announce that we have now added ING Belgium SA/NV to our correspondent banking network. ING Group is one of Europe’s market leaders in the Payments business with a strong commitment to this market segment, including competitive pricing.
BOSLIL will route all outgoing cross-border payments in the main currencies USD, EUR, GBP, CHF, CAD, AUD, NZD and HKD via ING Belgium, while we will continue to use Lloyds TSB Bank as our correspondent bank for all other currencies. With ING we will be able to continue improving our service to you, our valued clients.
Some of the benefits of receiving funds via ING include:
• ING’s high degree of automation will increase the speed of transaction processing and thus we will be able to provide you with liquidity faster.
• ING will not deduct any fees from the amount to be credited, which means that you will receive more money into your account.
All of our accounts with Lloyds TSB Bank will remain active and incoming funds in your favour will continue to be processed.
We recommend that you provide your debtors with the new BOSLIL Wiring Instructions listed below for commercial payments and also amend your invoices as soon as possible. For example, the payment section of your USD-invoice could read as follows:
Please transfer USD payments via JPMorgan Chase Bank, New York (SWIFT: CHASUS33) to:
ING Belgium SA/NV (SWIFT: BBRUBEBB) for credit of:
Bank of Saint Lucia International Ltd (Rodney Bay Village, Gros Islet, St. Lucia,
Account Nr: 301-0104693-14/USD, (SWIFT: BSLULCLC),
For further credit to: Final Beneficiary Name, Account Nr:
For more information on ING, please visit their website www.ing.com.
If you require additional details or support, please do not hesitate to contact bernd.dittrich@boslil.com or your personal account manager.
New BOSLIL Wiring Instructions:
Exotic Curriencies Wiring Instructions Incoming Payments from November 2009
Main Curriencies Wiring Instructions Incoming Payments from November 2009
Kind regards
Bernd Dittrich
Client Relations Supervisor
bernd.dittrich@boslil.com
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October 16, 2009
New Security Features for Online Banking
Dear Clients,
In our efforts to further enhance the existing security of our banking services, we would like to advise that we have implemented a strong password policy.
When the system requests you to renew your password after ninety days, you will be prompted to enter a password which is at least eight (8) characters long and contains at least one (1) character from each of the following:
- alpha value
- numeric value
- upper and lower case
- special character (such as #,@,%,&,*, etc.)
We trust that you will appreciate this enhanced security measure as it increases the safety of your data.
Kind regards
Bernd Dittrich
Client Relations Supervisor
bernd.dittrich@boslil.com
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