Financial

Everyday Banking

Bermuda Commercial Bank is the only local bank focused solely on corporate and commercial business and high net-worth individuals. Our cash management products are backed by a dedicated team of banking professionals that will work with you to get the job done efficiently and effectively.

Deposit Products

Bermuda Commercial Bank offers demand and fixed (term) accounts for clients in all major currencies, and can provide accounts in exotic currencies on request. Our electronic banking service (eBanking) provides immediate access to real-time balance data and supports straight-through processing of international wire transfers.

International Wire Transfers, Drafts and Chequing

Bermuda Commercial Bank makes international payments easy. We are a member of SWIFT and can transfer or receive funds world-wide through our network of correspondent banks. Our eBanking platform offers straight-through processing for fast, accurate payments. We offer drafts and chequing accounts in most currencies. Whether you need to move millions internationally or hundreds locally we offer the right tools for the job.

eBanking

Bermuda Commercial Bank offers a sophisticated and comprehensive electronic banking product for online cash management. Available 24 x 7, our eBanking product is fully multi-currency and integrated with our banking systems for paperless straight-through processing. Click here for more details.

Letters of Credit

We offer collateralized Standby Letters of Credit through our international correspondent network. Letters of Credit are commonly used by the insurance, shipping and export industries. Our Letters of Credit are accepted by US and UK regulatory agencies and are offered at competitive rates.

A Letter of Credit provides an assurance of payment to a seller. If the holder of the Letter of Credit does not make a payment on time, the Bank is held responsible for the payment. This provides an extra level of insurance to both the buyer and the seller. The seller can be certain that they will receive payment, and the buyer is protected from having to pay for goods that are not shipped or received.

IMPORTANT! New NZD and AUD Wire Transfer Instructions

15 August 2011

Dear Valued Customer,

Bermuda Commercial Bank Limited is constantly reviewing its correspondent banking relationships in order to ensure we are able to maintain efficient and cost effective gateways to the global payments system for our valued clientele.

As a result of recent reviews we write to advise of new correspondent details (see instructions herewith) for all incoming AUD and NZD payments, which become effective on August 29th 2011. We are grateful for your assistance in ensuring all existing payment instructions (as advised to your clients, affiliates, investors etc) are amended to reflect new correspondent details for all incoming wire transfer instructions related to your account.

We request your immediate attention to this matter. AUD and NZD payments not routed through HSBC Bank Australia Limited after August 29th 2011 may be returned by the receiving correspondent bank. Bermuda Commercial Bank Limited will not accept responsibility for any such returned payments.
Should you have any questions, please do not hesitate to contact the undersigned or your client representative directly.

Yours faithfully,

P. Glendall Phillips
General Manager, Banking Services
Bermuda Commercial Bank Limited