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DEPOSIT ACCOUNTS

CURRENT ACCOUNTS


At BICSA, you can open your Corporate Current account through which you can manage your resources and make unlimited payments through checks or transfers.

Conditions

Panama Office
  • Minimum Opening Amount: US$3,000.00
Miami Office
  • Minimum Opening Amount: US$25,000.00

Benefits

  • Unlimited use of checks.

  • Access to your account for consultations and transfers through our 24/7 e-Banking from anywhere in the world.

  • Certified and Cashier checks

  • A wide line of correspondents for your transfers and payment orders.


Requirements

  • Complete the General Customer Data and Bank Documents.

  • Articles of incorporation and its amendments.

  • Recent certificate of the Public Registry or Legal Representation, if a foreigner.

  • Valid identity card or passport of the signatory (ies).

  • Valid personal identity card or passport of the members of the Board of Directors

  • Two bank references of the company or the signatories.

  • Financial Statements

  • Copy of utility bills (water, electricity or telephone)


More information

To obtain more information or to formalize your Corporate Checking Account send us an email to this address and one of our executives will contact you.

DEMAND DEPOSIT ACCOUNTS


Brief Explanation

  • Keep your money available in demand deposit accounts.
Benefits

  •  Customer can proceed on available funds without notice to the bank.
Requirements

  • Complete Customer Information Form and Account Opening Application.
  • Bank Regulations/Contract signature.
  • Valid ID and Passport of the signatories.
  • Two bank references of each of the signatories.
  • Proof of Residence (copy of a municipal receipt with physical address).
Types

  • Regular Checking Accounts
  • Interest Checking Accounts
  • "AT CALL" Deposits
  • Over Night Deposits
More Information

For more information or to open a Demand Deposit Account - Corporate Account, email us and one of our executives will communicate with you.

MONEY MARKETS ACCOUNTS


Now your checkbook earns interest!

The Money Market Corporate Account is a current account designed for customers with high balances at sight that offers daily interest on balances payable on monthly basis, at competitive rates and different terms.

Conditions

Panama Office
  • Minimum Opening Amount: US$10,000.00
  • It allows 4 monthly debits and drafts
Miami Office
  • Minimum Opening Amount: US$50,000.00
  • It allows 6 monthly debits and drafts
Benefits

  • Yields on balances kept in the account
  • Access to your account for consultations and transfers through our 24/7 e-Banking from anywhere in the world.

  • Certified and Cashier checks
  • A wide line of correspondents for your transfers and payment orders
Requirements

  • Complete the General Customer Data and Bank documents.
  • Articles of incorporation and its amendments
  • Recent certificate of the Public Register or Corporate Identity Number, in case of foreign persons.
  • Valid personal identity card and passport of signatories.
  • Valid personal identity card or passport of the members of the Board of Directors.
  • Two bank references of the company or the signatories.
  • Financial Statements.
  • Copy of a utility receipt (water, electricity or telephone).
Further information

To obtain further information on Money Market Accounts – Corporate Banking, write us at this email and one of our executives will communicate with you.

FOREIGN CURRENCY CHECKING ACCOUNTS


A Current account at sight that allows you to keep your funds in the foreign curre.ncy of your choice, to make your payments and receive commercial or personal remittances

We offer openings in the following currencies:

  • EURO
  • POUND STERLING
  • CANADIAN DOLLAR
  • SWISS FRANC
  • JAPANESE YEN

Conditions

  • Minimum Opening Amount in Euro: EUR3,000.00
  • Minimum Opening Amount in Pound Sterling: GBP3,000.00
  • Minimum Opening Amount in Swiss Franc: CHF3,000.00
  • Minimum Opening Amount in Canadian dollar: CAD3,000.00
  • Minimum Opening Amount in Japanese Yen: JPY300,000.00
  • No checkbook is issued and no interest is paid.
  • Charges are made in the currency of the account.
  • It applies for individuals or companies exclusively in the Panama office.

Benefits

  • Mitigation of exchange risk by having funds in the designated currency
More Information

For more information on Foreign Currency Checking Accounts, email us and one of our executives will communicate with you.

DEPOSITS / CERTIFICATES


Now you can invest your capital in a safe and profitable investment account and get an attractive interest. Bicsa offers our local and foreign customers competitive rates and interest payments according to their convenience.

Our certificates are designed for Legal Entities with the purpose of obtaining the maximum yield with the lowest possible risk and competitive interest rates.

REGULAR FIXED TERM DEPOSITS

Our customers can invest their capital in a safe and reliable way and obtain attractive rates by opening fixed-term deposits and securing their capital for a stipulated period of time. The purpose is to obtain the maximum yield with the lowest possible risk and competitive interest rates

Conditions

  • Terms from 30 days to 5 years
  • Minimum Opening Amount: US$10,000.00 in the Panama Office.
  • Minimum Opening Amount: US$50,000.00 in the Miami Agency
  • Interest rates according to the term

Benefits

  • Expert advice on the placement of your funds.
  • Support from a banking institution with the highest level of financial soundness.
  • Access to your account for consultations and transfers through our 24/7 e-Banking from anywhere in the world.

  • Availability to use your term deposit as collateral in bank loans.

Requirements

  • Complete the General Customer Data and Opening Application.
  • Articles of incorporation and its amendments.
  • Recent certificate of the Public Registry.
  • Valid personal identity card or passport of signatories.
  • Bank references of the company.
  • General resolution.

LOCAL / FOREIGN FIXED TERM DEPOSITS

Term Less than $100M More than $100M
30 days 0.15% 0.25%
60 days 0.50% 0.75%
90 days 0.75% 1.00%
120 days 1.00% 1.25%
180 days 1.50% 1.75%
1 year 2.50% 3.00%
2 years 3.25% 3.50%
3 years 3.75% 4.00%
4 years 4.25% 4.50%
5 years 4.75% 4.75%

These prices will remain in effect until further notice.
Effective as of January 2018.



FIXED TERM DEPOSITS WITH VARIABLE RATES

A Term Placement that allows you to benefit from increases in international interest rates based on changes in the Libor rate. The bank assures you a return on your capital by negotiating a minimum rate for the entire term of the period, guaranteeing that your interest rate will never be less than the agreed limit.


Conditions

  • Terms from 2 to 5 years.
  • Minimum Opening Amount: US$50,000.00

Benefits

  • Support from a banking institution with the highest level of financial soundness.
  • It is negotiable and transferable.
  • The rate is established based on the Libor plus a spread according to the term and a minimum floor rate negotiated for the entire term of the deposit that will be applied if the resulting tax on each revision date is not higher than that fixed minimum limit. This ensures that your interest rate will never be less than the agreed limit.
  • The placement of your resources at medium term allows you to benefit from increases in international interest rates based on changes in the 6-month LIBOR rate.
  • Access to your account for consultations and transfers through our 24/7 e-Banking from anywhere in the world.


  • Requirements

    • Complete the application for Opening a Term Deposit.
    • Complete the General Customer Data.
    • Valid personal identity card or passport of the signatories.
    • Bank References.

    LOCAL/ FOREIGN FLOATING RATE DEPOSITS

    Term Base rate Minimum rate
    2 years Libor 3 mo + 0.125% 3.00%
    3 years Libor 3 mo + 0.25% 3.25%
    4 years Libor 3 mo + 0.50% 3.50%
    5 years Libor 3 mo + 0.50% 3.75%

    These prices will remain in effect until further notice.
    Effective as of January 2018.




    AT CALL DEPOSITS

    Placements of sight deposits where those customers who are required to keep liquidity in the short term, are able to obtain an attractive interest rate on said funds.

    This Product allows making increases, decreases, or cancellations at the request of the customer. Interest is payable on monthly basis.


    Conditions

    • Rate: 0.50%
    • Minimum Opening Amount: US$ 100,000.00
    • With established or defined expiration date.

    Benefits

    • Expert advice on the placement of your funds.
    • Support from a banking institution with the highest level of financial soundness.
    • Access to your account for consultations and transfers through our 24/7 e-Banking from anywhere in the world.

    • Availability to use your term deposit as collateral in bank loans.

    Requirements

    • Investment instructions



    OVERNIGHT DEPOSIT

    Investment offered to customers who have a corporate Current account, which allows them to generate an interest rate on the surplus balances in the account, as long as they keep balances higher than those required. The amount to be invested is taken from the Current account at the end of the day and invested in the single day deposit figure. On the next business day, the principal plus interest are deposited in the Current account. The customer will have at all times the funds available in the Current account.

    Conditions

    • Rate: 0.0625%
    • Term: 24 hours
    • Exclusive service for legal account holders.
    • Minimum Opening Amount: US$100,000.00 Panama office / Local Legal entity.
    • Minimum Opening Amount: US$50,000.00 Panama office / foreign Legal entity.

    Benefits

    • It yields daily interest that may be capitalized or paid in credit to your current account .
    • Access to your account for consultations and transfers through our 24/7 e-Banking from anywhere in the world.


    Requirements

    • Keep at least one active Current account in the bank.
    • Investment instructions.



    CURRENT ACCOUNT IN FOREIGN CURRENCY

    At BICSA, we offer the option of diversifying your assets in the foreign currency of your choice through term deposits at competitive rates in the following currencies:
    • Euros.
    • Pound Sterling.

    Conditions

    • Minimum Opening Amount: US$100,000.000
    • Interest paid upon expiration of the deposit.
    • Terms from 6 months to 3 years.
    • No collateral loans on deposits are allowed.
    • Quotes will be subject to changes.

    Further information

    To obtain further information on Deposits / Investment Certificates – Corporate Banking, write us at this email and one of our executives will communicate with you.