Products & Services

Commercial Banking

What is NBA's Commercial Banking?

At NBA, we structure our commercial banking around your business. NBA's Commercial Banking Business is comprised of the resources, strength and expertise, to effectively and efficiently manage your business. Our highly innovative approach to commercial banking has been recognized by our customers. These capabilities made us a leader in the financial industry and in the community.

Vision: Our vision for your business is to support your financial needs.

Commitment: Our staff is committed to offering our customers the professional services needed to establish and maintain their business account (s).

Success: Being the most successful financial institution on Anguilla, National Bank will provide you with the capital you need to create a successful business.

National Bank of Anguilla Ltd will help you take your business to the next level and make your business even stronger.

Commercial Savings Account

NBA's Commercial Savings accounts earn very attractive interest, which is added to your account quarterly. These accounts may be opened in Eastern Caribbean Dollars (ECD), United States Dollars (USD), Great Britain Pounds (GBP), and Canadian Dollars (CAD).

Commercial Demand Deposit (checking) Accounts

The bank provides demand deposit (checking) accounts to eligible customers and pays interest on balances that exceed EC $3000.00 or US $1100.00. Service charges and per item charges are considered low and overdrawing facilities can be requested. Overdrawing, if permitted without signed agreement, carries a special charge.

Term Deposits

Term deposits at the National Bank of Anguilla pay very competitive rates of interest for Eastern Caribbean Dollars deposits (EC) & United States Dollars deposits (USD), placed for up to two years. Rates paid on very large deposits for short periods are negotiable and are usually determined by the rate of interest the bank can obtain in the international market for like size deposits and terms.

Telephone Banking

If you want the convenience of being able to bank from your home, office, or vehicle, NBA's TeleBanking Service allows you to conduct the following services via the telephone:

  • Check Account Balances
  • Obtain transaction information for the last five available transactions
  • Transfer funds between accounts
  • Obtain deposit rates and service information and
  • Pay bills

To use NBA's TeleBanking service, all you need is a NBA Convenience Card and a telephone. With NBA's Convenience card, you can carry out various banking transaction 24 hours a day, 7 days a week at NBA's network of ATMs and now via NBA's TeleBanking Service. The Convenience Card is available free of charge.

Loans and Overdrafts

Loans

Loans are granted to new and old businesses to assist them in financing the following:

  • Inventory purchases
  • New products
  • Furnishings
  • Equipment
  • Vehicles
  • Expansion of premises
  • Construction of new premises

Business proposals are required for all requests for financing. General information expected to be contained in these proposals are:

  • Historic financial statements
  • A pro forma income statement
  • A pro forma balance sheet
  • A cash budget
  • Personal financial statements
  • Cash flow analysis

Security required for business loans may include guarantees, inventory, bills of sale, land, buildings, or debentures on business assets among other things.

Terms and rates on commercial loans are flexible and very competitive.

Apartment and Villa Loan

If you own a piece of land and it is your desire to build apartments or a villa for rent. Then look no further and worry no more. NBA’s Apartment and Villa loan provides the right solution to your borrowing needs. NBA will work with you to ensure an efficient and hassle free process. With flexible terms that best suits your needs, very competitive interest rates and up to 80% financing, NBA’s experience team of lenders is here to help you every step of the way.

Overdrafts

Overdraft facilities to meet working capital and bridging needs are available to desiring and qualifying businesses. The request for such facilities should take the same form as for a business loan above.

Business overdrafts are usually granted for no more than one year and are related to the particular needs of the business. Rates of interest are the same as for business loans. If an account with overdraft privilege is permitted to exceed the agreed limit a special fee is applied.

Foreign Services

National Bank has positioned itself to be able to bring to its patrons the means to execute international transactions in an efficient and speedy manner. Our foreign services include the following:

  • Purchase and sale of foreign currencies
  • Acceptance of non-domestic checks, drafts, and money orders
  • International transfers in and out of Anguilla in any currency to and from any part of the world.
  • Sale of international drafts
  • Sale of American Express travellers checks
  • Granting of Visa and MasterCard Credit Cards
  • Recommendation of American Express cards
  • Documentary and clean collections
  • Letters of credit
Investment Services

Investments can be made in financial instruments worldwide through the Bank's association with the Tom Morgan group of Smith Barney.

Other Services
  • Night deposit rental
  • Reference letters
  • Special statements
  • Standing Orders
  • Stop payments
  • Safe Deposit Box

Account Opening Information

Corporate Documents
  • Articles of Incorporation or Continuance
  • Certificate of Incorporation or Continuance
  • By-Laws
  • Directors Resolution
  • Minutes of organization meeting
  • Notice of Directors
  • Notice of Registered Offices
  • Latest annual returns
Business plan showing:
  1. The company's activities
  2. A list of principals and key employees accompanied by:
    • Indications of their financial standing with net worth position.
    • Certified copies of passport information page and photo page.
    • A certified statement showing the number of passports held by each individual.
  3. Personal and banking reference of principals and key employees
  4. Historic financial information
  5. Income and expense projection
  6. Other relevant documents supporting the need to have an account relationship with the National bank of Anguilla.
  7. Copies of:
    • Certificates
    • Accreditations
    • Correspondence
    • Invoices or
    • Contracts which demonstrate that the company and its principals have been or are engaged in the line of business for which the line account is to be used

You must also include with the application:

  • Statement from you confirming that the company does not have bearer shares
  • If it is for a Trust Account all documents related to the trust
Documentation required from NBA

The following should be obtained from NBA and completed by the customer prior to the account being opened.

  • Resolution from board regarding banking account
  • Agreement re-operation of account
  • Application for company to open and operate an international commercial banking account
  • Signature cards
  • Check file dividers
Personal Documents

Required by Beneficial Owners, Signatories and Directors.

  • Copy of passport or other acceptable ID
  • Police record
  • Personal references
  • Bank references
  • List of Officers and Directors

Documentation required for large deposit (greater than or equal to $10,000.00)

For all deposits made into the account in excess of $10,000.00 the company must provide a declaration of source and origin of funds.