Choice Bank is chartered under the International Banking Act of 1996, which allows international business with non-resident personal and corporation clientele. The Bank may also deal with resident companies operating in the Export Processing and Commercial Free Zones.
Choice Bank Accounts are not subject to local taxes or exchange restrictions and funds in foreign currencies are transferred freely with no conversion to Belize dollars required.
The Central Bank of Belize monitors and regulates Choice Bank’s business, strict adherence to capital adequacy and liquidity levels are required, ensuring compliance with internationally accepted best practices in global banking.
WHAT CHOICE BANK OFFERS:
- Personal and Corporate accounts
- Full Internet banking
- Phone banking
- Prepaid Master Card in USD
- Accounts in GBP, USD, EUR, CHF, CAD
- Merchant services
- Co-branded Cards
- The approximate timeframe for account allocation is 7 to 10 days after the original documents have been received by the bank.
BANK TARIFFS AND CHARGES
Choice Bank can be considered as a medium-cost bank with respect to incoming/outgoing payments and account maintenance. The initial deposit and minimum balance at all times of USD 5,000 (or equivalent in other currencies) will be required for Choice Economy Account. For opening of Choice Premier account the initial deposit and minimum account balance will be USD 25,000.
The bank charge for incoming payments tiered pricing fees – minimum USD 30.00. The outgoing wire transfer charge is USD 100.00. The monthly account maintenance fee for Choice Economy account is USD 25.00 and for Choice Premier account is USD 12.50. There is no charge for internet banking.
- PLEASE NOTE that bank tariffs may be changed anytime at the sole discretion of the bank, we therefore suggest to contact us or visit the bank’s website for updated details on specific fees and charges.
- Agent Legal professional service fee for the assistance of bank account opening does not include any bank charges and commissions, account maintenance fees, transaction fees, initial deposit or minimum balance.
REQUIREMENTS FOR PERSONAL ACCOUNT SET UP WITH CHOICE BANK:
- Personal presence is not required
- The initial deposit and minimum balance of USD 5,000 will be required. For a Premier account the initial deposit and minimum account balance will be USD 25,000.
- Account opening timeframe. The account will be activated within 7 – 10 business days, upon receipt by the bank of all duly completed forms and relevant information.
REQUIREMENTS FOR OPENING AN INDIVIDUAL BANK ACCOUNT
- Notarized copy of valid passport.
- The passport must be signed and signature must match the signature in the application form.
- The photograph must be clear and of good quality.
- Original or notarized copy of utility bill / bank statement dated within 3 months as verification of residential address.
- Original or notarized copy of Banker’s reference letter dated within 3 months.
- Personal CV
Documents that are not in English must be accompanied by a certified translation.
Once all documentation is available please email electronic copies to our representative for review; incomplete or unexecuted forms can create delays in the account opening process.
Shipping of banking kits to your destination requires an extra charge and will be automatically added to the invoice during checkout. Shipping costs for international courier services are set automatically and can vary from USD 75 to USD 95. The fees depend on the jurisdiction where the bank is based as well as your destination country.