Loyal Bank Limited was incorporated in St. Vincent and the Grenadines on the 17th of September, 1997 and was granted the Banking License from IFSA (International Financial Services Authority). Within one year Loyal Bank became a Principal Member of MasterCard International Card Association and a Member of S.W.I.F.T. international inter bank network (LOYAVCVX).
Year 2001 commenced with the launching of NetBanking, which allowed Bank customers to view their bank account history, initiate wire transfers and place deposits on-line 24 hours a day, 7 days a week and 365 days a year from anywhere in the world.
In order to satisfy the needs of the rapidly growing number of clients and to develop and offer them new products and services, the Bank enhanced its’ customer service department and set up a marketing department to further assist its’ rapidly expanding customer base and to foster loyalty to the Bank.
Further continuing its’ development, Loyal bank in the year 2005 welcomed another executive to its’ Board of Directors and increased the personnel at its’ Headquarters in St. Vincent and the Grenadines. This year also represented a new campaign for Loyal Bank “Global Reach, Personal Touch”. With this new strategy the Bank intends to get closer to its customers, wherever they may be.
At present Loyal Bank has a fully operational Head Office in St. Vincent and a European Representative Office in Budapest, Hungary. All together with support, IT personnel and customer service the total number of employees at present is 60 full time employees.
Nowadays, the Bank not only offers private and corporate multi-currency bank accounts with Cirrus/ Maestro bankcards, but a full array of core services and value added services as well.
Main services offered by the Loyal Bank Limited
• Corporate multi-currency bank accounts
• Cirrus/Maestro and MasterCard bankcards
• Personal Accounts
• Customer service in 11 languages, including Russian and Moldavian.
Fees and Charges
For information regarding Loyal Bank fees and charges, please visit bank’s official web site.
The time period for opening bank account
• Within 7 – 10 banking days from receipt by the bank of all required documents.
• Within 2-3 banking days upon receipt of your documents and approval of the applications, bank shall issue your initial Internet Access Code (5 digits), which will be sent to your e-mail address registered at account opening. For safety reasons your Account Number (12 digits) and Customer ID (8 digits) will be sent to you in a separate e-mail.
• Once you have your Account Number, Customer ID and wire details, you may transfer funds to your Loyal Bank account.
In the process of account opening separately are paid following services:
Internet banking activation, issuance of the card and digipass, expenses related to shipping of documents to the customer.
List of documents required for opening a corporate bank account:
• A notarized copy of the Certificate of Incorporation /Certificate of Good Standing (if the company is older than 1 year)
• A notarized copy of the Memorandum and Articles of Association /Formation/ Operating Agreement
• Resolution of the Board of Directors/Minutes of the Meeting of Managers authorising opening of the account and conferring authority on the person who will operate the account.
• Fullfilled Specimen Signature Form
• Notarized Copies of passport or other acceptable ID (the page with photo and signature) for Authorized Person, Additional Authorized Persons (if any), all Directors/Officers and Beneficial Owners. A notarized copy of Driver’s License is also required for US and Canadian citizens.
• Notarized Copy or original of Utility Bill or a Bank Statement as a proof of address for Authorized Person, Additional Authorized Persons (if any), all Directors/Officers and Beneficial Owners.
• Bank References for the Authorized Person and Additional Authorised Persons (if any) as well as for all Directors/Officers/Beneficial Owners.
• Bearer Share Declaration (if the company has bearer shares)
• A notarized copy of the Share Certificates (if the company has registered shares)
• Declaration of Trust if the company has Corporate Shareholder(s)
• Power of Attorney if the company has Corporate Director(s)
• A copy of the Certificate of Good Standing of Corporate Shareholder(s)/Director(s)
• A copy of passport or other acceptable ID (the page with photo and signature) and Utility Bill or a Bank Statement as a proof of address for Corporate Director/Shareholder if it is a physical person
All documents in other languages must be translated into English and notarized before being submitted to the bank. These procedures will be performed by our specialists.
With our support, you can quickly become a holder of a Loyal Bank account. Our experts will assume the filling of all bank forms and questionnaires.
Back to the main page of banking services.