FAQ's

The Eastern Caribbean Securities Exchange (ECSE) is a regional securities market, established by the Eastern Caribbean Central Bank and licensed under the Securities Act (2001).  The ECSE is designed to facilitate the buying and selling of Securities for the eight (8) ECCB member territories of Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St Kitts and Nevis, St Lucia, and St Vincent and the Grenadines.  The ECSE is headquartered in St Kitts.

Investors can only purchase Securities through a Broker-Dealer firm registered with the ECSE.  BOSL Investment Banking Services is a registered Broker-Dealer, and investors seeking to buy or sell securities can make an appointment with our Registered Principal.  Investors purchasing or selling Securities for the first time with BOSL Investment Banking Services must open a new brokerage account.

A Security is a negotiable instrument representing financial value.  Securities are broadly categorized into debt securities, that include Bonds, Debentures and Treasury Bills; and Equity Securities.  Examples of Securities that are traded in the regional capital and financial markets include Stocks, Corporate and Government Bonds and Treasury Bills.

Securities of all companies listed on the ECSE are held in dematerialized form.  This means that as an investor you will not receive a physical certificate to confirm your proof of ownership for securities purchased.  Once you purchase a Security, it will be held in dematerialized (electronic form) at the Eastern Caribbean Central Securities Registry Limited (ECCSR), which is a fully-owned subsidiary of the ECSE.  As an investor you will receive a statement of all the Securities you own on a semi-annual basis.  Investors can also request BOSL Investment Banking Services to hold the Securities on their behalf.

A Securities Market is where investors who are willing to buy and sell their Securities.  Investors include individuals, institutions, pension funds, trust funds and other entities.  The buying investors are willing to invest by purchasing securities from the sellers which include corporations, governments and other investors.

Yes, investors can open joint accounts.

There are two (2) types of accounts: With a Joint Tenant account, all the signatories on the account are required to collectively give permission for any action on the account.  Upon the death of any one (1) joint owner, the surviving joint tenants get the whole account automatically, regardless of any will made.

With Tenants in Common account, upon death of a co-tenant, his or her shares pass to his/her beneficiaries through the Will or Rules pertaining to intestacy.

Investors can use their Securities as collateral for loans.  A Charging Form must be completed by all the parties involved.

Shareholders or joint shareholders can donate all or a portion of their Securities to a family member or to a registered Charity.  To donate securities, complete the Donation Transfer Form and submit the completed form notarized or signed and stamped by a licensed broker to the ECCSR together with evidence of the family relationship or the registered Charity.  A fee of EC$20.00 is applicable for this request.

You can request a copy of your Securities statement by simply completing an Application for ECCSR Statement and submitting it to your Registered Representative at the Broker-Dealer Firm.  An application fee of EC$20.00 is required.

The individual paying the interest on the loan can benefit from a tax credit of up to EC$3,000 annually.

You can forward any query/request to studentloans@bankofsaintlucia.com, onlinesupport@ecfh.com, info@bankofsaintlucia.com  or call the Student Loans Department at 1 758 456 6305 / 6326 or our Support Centre at 1 758 456 6999.

Forward a copy of your most recent transcript as proof of you successfully completing the academic year along with evidence that your Life Insurance premium is up to date.  The Bank will not be providing funding to students repeating an academic year/course. Disbursement must be requested at least one week in advance of the required date. You should also indicate the preferred method of payment for tuition, books and boarding.  In cases where someone is collecting a draft on your behalf, you should provide written authorization indicating the individual’s name and the date of collection.

You may receive payments via bank draft payable to the institution or telegraphic transfer paid directly into the school’s account.  If payments are requested via telegraphic transfer, you must provide particulars of the school’s bank account including their banker’s sort code.  Students who opt to pay their tuition via debit or credit card should forward receipt of payment to the Loans Department for reimbursement.

Make a budget – it is essential to your success.  Your budget should cover the essentials such as books, school supplies, food, transportation costs and other necessities.  Budgeting leads to a less stressful experience.  Avoid splurges, making a habit of spending irresponsibly will leave you broke!

Apply for an increase in your loan if you have not already reached the maximum limit.  Please note however, that security and insurance must also be increased.

Report the lost or misplaced draft to the bank immediately so that a stop payment could be placed on the draft.  The foreign bank on which the draft is drawn will be notified and they must provide confirmation of the stop payment instructions.  Only then can Bank of Saint Lucia proceed to issue a replacement draft to you or the school.  A cost of EC$104 is applicable for the stop payment request (fee is subject to change without prior notice).

Contact the Card Services Department cardservices@bankofsaintlucia.com, onlinesupport@ecfh.com, info@bankofsaintlucia.com or call our Support Centre at 1 758 456 6999. 

Notify the bank prior to applying to the new school and provide details of the cost of pursuing studies at the new institution.  Your Loans Officer will assess your request to ensure that the available funds are adequate to carry you to the end of the programme without incurring additional costs and advise you accordingly.

Contact the Loans Department to ensure that the new area of study is on the priority list and that the cost is within your approved loan limit.

My Rewards is the first all-digital, loyalty platform with exclusive benefits for cardholders. Customers can earn and redeem points via the app or web for flights, hotels, travel activities, car rentals, and more.

All personal BOSL Classic and Gold Credit Cardholders automatically qualify to participate. All you need is a valid email address.

Go to go2redeem.com or download the My Rewards App from Google Playstore or the Appstore. 

• Register by using your e-mail and selected password 
• Enter your Credit Card Number
• Start Navigating

There are no additional costs associated with using My Reward.

You earn points by making purchases using your BOSL Visa Credit Card.

Earn 1 point for any undefined reward for every US$1 spent/purchase equivalent.

In the [My Rewards] portal, select your desired reward option, e.g. travel experience (flight, hotel, car rental & destination services), click the “Pay Now” button, and choose the number of points to redeem.

Yes. You can make single or split payments using points and your BOSL Visa Credit Card.

There is a mandatory redemption period for points of three years.

The points can be used to purchase items available on the [My Rewards] portal. 

Yes, your existing PIN will continue to work

The PIN change is immediate. You can start to use our card as soon as you have confirmed the new pin on the Card Inquiry Portal https://www.4csonline.com/CardInquiry/logon.aspx?cthm=BOSL

There are no restrictions on the number of times you can change your PIN.

No. Once you have logged onto the Card Inquiry Portal and your credentials are verified, you can create a new PIN without having to remember your old PIN

Yes. This will allow the system to confirm your identity and grant you access to the other features of the Card Inquiry platform.

The PFIA investment is suitable for all investors in any stage of their life cycle as shown below:

• Retired individuals seeking safety of their earnings, while receiving high income.
• Individuals in the early stage of their life cycle seeking to build up an Emergency Fund to
• Protect themselves and their family from any unforeseen circumstances.
• Investors who are risk-adverse and are seeking growth of capital within a short-to-medium term horizon.
• Investors seeking higher returns than the traditional savings and deposit investments.

Yes, after your initial investment you will receive a receipt from Bank of Saint Lucia.  Subsequent to this, annual statements will be sent to you.

$100.00

A minimum of $100 has to be deposited on a monthly basis.  However, customers can choose to increase their monthly contributions or make lump sum deposits.

Contributor: Two forms of picture ID and a utility bill as proof of address.  Beneficiary: One form of picture ID or a birth certificate in the case of a minor.

Yes.

Each account is allowed only one beneficiary.

No.  Withdrawals are not allowed.

Yes, but there must be a monthly commitment via standing order or salary deduction, and any additional deposits can be made over the counter directly to the Edu Start Account.

The Edu Start savings plan earns interest at 1% higher than the regular savings rate.  In addition, 50% of the net additional returns earned (profit) on the Edu Start investment portfolio is distributed to customers.

Interest is paid annually.

You can apply online via our Digital Branch or visit any branch to start the application process.

To apply for a Bank of Saint Lucia Visa Credit Card, you will need the following:

1. Recent Job Letter
2. Recent Salary Slip
3. One (1) valid national ID
4. Completed Application form

Approval times can vary, but it's usually within a few days (existing customers) to a few weeks (new customers).

A credit limit is the maximum amount you can charge on your card. It's determined based on your creditworthiness and income.

The minimum payment is a small percentage of your balance, usually around 3%. It's important to pay more than the minimum to avoid high-interest charges.

Credit cards can be a valuable financial tool for everyday expenses and can also offer rewards.

Yes, you can make the minimum each month by the due date as late fees would be avoided, however it is advisable to pay in excess of the minimum payment to reduce interest charges or full statement balance for no interest altogether.

The LEAF Visa Credit Card is an introductory credit card designed for young individuals, customers seeking controlled credit use, parents teaching financial responsibility, and environmentally-conscious consumers.

Eligibility is open to young adults starting their credit journey, individuals seeking a controlled credit limit, parents wanting to teach financial responsibility to their children, and anyone who prioritizes sustainability and eco-friendly products.

The LEAF Visa Credit Card has a credit limit that ranges from minimum XCD $1,000 up to XCD $2,500, which is designed to help users manage their finances better and protect against fraud.

By using the LEAF Visa Credit Card responsibly, making on-time payments and keeping your balance low, you can establish a positive credit history with BOSL, which can improve your credit score over time.

The card's lower credit limit helps minimize the risk of significant loss in case of fraud. Additionally, it comes with Visa's advanced fraud protection features, such as real-time transaction monitoring and alerts and the strong rules that are present with all BOSL cards.

Parents can provide the card to their children to teach them about budgeting, spending, and managing credit. The lower limit and parental controls help monitor and manage their children's spending, ensuring a safe and educational introduction to credit.

The LEAF Visa Credit Card is designed with eco-friendly materials as the plastic is recycled and aligns with BOSL's commitment to sustainability. By choosing this card, consumers can support environmentally conscious practices.

You can apply for the LEAF Visa Credit Card by visiting any BOSL branch, applying online through the BOSL website and BOSL Digital, email Bosldigital@bankofsaintlucia.com or call 456-6999.

To apply for a Bank of Saint Lucia Visa Credit Card, you will need the following:

• Recent Job Letter
• Recent Salary Slip
• One (1) valid national ID
• Completed Application form

If your card is lost or stolen, report it immediately to the Card Services Team cardservices@bankofsaintlucia.com or call 1-800-744-2222 requesting to block the card and prevent unauthorized transactions. We will assist you in obtaining a replacement card.

A Home Flex is a revolving credit facility that allows you to access cash based on the STC value on all existing Hypothecs (original mortgage amount) and your mortgage balance. It is similar to having a credit card where you can borrow, repay, and borrow again as needed.​​​​​​​

The interest rate is 5.75%.

You'll get a Home Flex chequing account with an approved limit. Funds can be transferred 24/7 from the Home Flex account to your regular operating account via online banking.

• Flexibility to borrow against your home equity, repay, and repeat.
• Access funds anytime through online banking transfers.
• Ability to make ongoing withdrawals up to the account limit until the 3-year period ends (then renewal or conversion to loan options).
• Minimum monthly payments of at least 3% of the balance via standing order are required.

Yes, extra lump-sum principal payments during the Home Flex account life is advised. This can help reduce your balance and give you continued access to funds if needed.

If converted to a loan, the maturity date cannot extend past your existing mortgage maturity date or age 65 (unless you have enduring earnings beyond age 65). Converted loans will have principal and interest repayments at the same rate as Home Flex.

Renewal or conversion options are available pending approval after assessment. Contact your Loans Officer for more details on this process.

To qualify for a Home Flex, you typically need:

• Sufficient equity in your home, calculated as the STC value minus your mortgage balance.
• Stable income and employment history.
• A debt-to-income ratio within acceptable bank’s limits.
• Compliance with other underwriting criteria specified by the bank.