|What are the requirements to open a small business account?
|Kindly be informed that the following documents are required to open a business account:
INDIVIDUAL/ REGISTERED BUSINESSES
a. E-Certificate of Registration
b. Short extract of the business name
c. Letter addressed to the Belize Bank requesting the opening of the account, the purpose, signatories, and signing conditions.
d. Valid social security card or passport for all individuals on the account and most recent utility bill .
e. Address verification for the business (utility bill or lease agreement)
|What are the benefits of having a small business account?
|Having a small business account is highly beneficial for your business. Below we have listed some of these benefits:
a. Ability to maintain proper records of all the deposits, withdrawals, and payments made by your customers.
b. Availability of electronic account statements for ease of balancing.
c. Immediate notifications of transactions processed to your account.
d. FREE online Banking, E-Kyash, Merchant Services
e. Access of financing based on your account records.
|Will I be required to visit a branch to open an account?
|If you are a first-time Belize Bank Limited customer, please bring all necessary documentation to the closest branch to open your account.
We also conduct scheduled site visits so that we can collect all the necessary paperwork to open your account.
|Is my small business account an interest bearning account?
|Our chequing accounts are non interest bearing accounts.
|What fees are associated with this account?
|A monthly fee of $7.50 will be levied on your business or personal chequing account.
Other fees may include:
a. Cash deposit fee of $1.50
b. Cheque processing fee $2.25 for cheques processed by BBL
c. $3.50 for cheques processed by other banks
|Is there a minimum balance requirement?
|After opening your account, you will be required to make an initial deposit of BZ$200.00. We recommend that the same balance be maintained in your account to avoid any overdraft fees.
|Do you have a maximum number of account holders?
|We do not have any limit for account holders; however, the names must be included in your account opening letter.
|How long does it take for an account to opened?
|The account opening process is completed within the same day or may take a maximum of 3 business days once all the required documents are presented.
|Can I obtain an loan and overdraft?
|We have special loan and overdraft offers for all our SME customers with special rates and repayment terms.
To qualify for a loan or overdraft, you will be required to meet the following requirements:
Please feel free to contact one of our SME officers at any of our Belize Bank branches and they will be more than pleased to review your request.
|Will I have access to online banking?
|Yes, you will be enrolled to online banking on the day your account is opened.
|Will I obtain a debit card?
|Debit cards can only be issued for businesses registered under the catergory of individuals/ sole proprietorship. Incorportated entities cannot obtain a debit card.
|Can I obtain a credit card?
|We have credit card offers for our SME customers. Please feel free to contact one of our SME officers at any of our Belize Bank branches and they will be more than pleased to review your request.
|Can I issue cheques with this account?
|Yes, you will have the ability to issue cheques with our business or personal chequing accounts.