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DEPOSIT ACCOUNTS

CURRENT ACCOUNT


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

Conditions

Panama Office

  • Minimum Opening Amount: US$2,000.00
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.
  • Activation of the Key Card, providing local access through the network of local and international sales points and ATMs.

Requirements

  • Complete the Customer’s General Data and Opening Application.
  • Certificate and valid passport of the signatory (ies).
  • Two bank references of each of the signatories.
  • Copy of a utility receipt (light, water or telephone).

Further information

To obtain further information on Personal Checking Account – Private Banking, write us at this email and one of our executives will communicate with you.

MONEY MARKET ACCOUNTS


Now your checkbook earns interest!

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

Conditions

  • Rate: 0.25%
  • Minimum Opening Amount: US$3,000.00 Panama Office.
  • Minimum Opening Amount: US$50,000.00 Miami Office.
  • Unlimited check movement.
  • Payment of interest at the end of the month calculated on daily balances.
Benefits

  • Activation of the Key Card, providing local access through the network of local and international sales points and ATMs.
  • Yields on balances maintained 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 Customer’s General Data and Opening Application.
  • Certificate and valid passport of the signatory (ies).
  • Two bank references of each of the signatories.
  • Copy of a utility receipt (light, water or telephone).

Further information

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

CHECKING ACCOUNT IN FOREIGN CURRENCY


A call checking account that allows you to keep your funds in the foreign currency 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: EUR1,500.00
  • Minimum Opening Amount in Pound Sterling: GBP1,500.00
  • Minimum Opening Amount in Swiss Franc: CHF3,000.00
  • Minimum Opening Amount in Canadian dollar: CAD3,000.00
  • Minimum Opening Amount in Japanese Yen: JPY100,000.00
  • 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.

Further information

To obtain further information on Checking Account in foreign currency, write us at this email and one of our executives will communicate with you.

PREFERRED ACCOUNT NOW


A checking account that generates monthly interest, by combining the benefits of a Current account and an investment account. The Now account provides the convenience of an unlimited number of checks in addition to a monthly transaction statement. It applies for individuals and non-profit organizations.

Conditions

  • Minimum Opening Amount US$50,000.00
  • Exclusive for the Miami Agency.

Benefits

  • Security through the backing of a sound corporation.
  • Account domiciled in the United States with checks payable through the entire financial system of the country.
  • Guaranteed liquidity.

Further information

To obtain further information on Preferred account now, write us at this email and one of our executives will communicate with you.

KEY DEBIT CARD - PLUS


It is a card through which our customers can withdraw cash and check balances anywhere in the world through the ATMs network that have the Plus system; in addition, they can make purchases and payments at local sales points.

Conditions

  • Annual Membership and Renewal US$25.00
Benefits

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


Requirements

  • To have a personal checking account.
  • To subscribe the BICSA Debit Card Agreement.

Further information

To obtain further information on Debit Cards – Private Banking, write us at this email 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 Individuals who seek to obtain 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 period

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

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 TERM 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 due or defined expiration.

Requirements

  • Investment instructions



DEPOSITS 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$50,000.000
  • 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, write us at this email and one of our executives will communicate with you.