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This section gives you quick and easy access to the answers to the questions we're asked most frequently. 

What is ECACH?

The Eastern Caribbean Automated Clearing House (ECACH) is an electronic network through ECCB for clearing and settlement of cheques and other electronic transactions within the eight territories of the Eastern Caribbean Currency Union (ECCU). Only commercial banks within the ECCU are participating.

What is EFT?

Electronic Funds Transfer (EFT) refers to transactions that take place over the ECACH electronic payment network, either among customer accounts at the same bank or among customer accounts between participating banks locally & regionally.

Why is EFT being launched?

The ECACH is launching EFT in an effort to provide the customers of banks within the ECCU a faster, cost-effective and secure payment solution.

What are the benefits of EFT?

The EFT process is secure, fast, convenient and cost-effective. It provides customers with the ability to transfer and settle funds between participating banks within the same day, subject to the agreed exchange timelines between the participating banks

What type of transactions can be processed through EFT?

The transactions can be funds transferred to accounts such as payroll, settlement of invoices, tax refunds, pension, dividends, etc.

How does EFT work?

A company (Originator) will send a list of transactions/payments to be made on the accounts of its employees, clients, or suppliers, to its Financial Institution (Originator’s Bank) using the ACH software. The Originator’s Bank will send these transactions in a specific format to ECCB (ECACH Operator) for transmission to the Receiver’s/Beneficiary’s Bank (the employees, clients, or suppliers) where their accounts are held. The Receivers’ banks will in turn process these transactions. 

What action is required and by whom?

All businesses and individuals that are doing payroll transactions via an FI and/or individuals that transfer money or pay bills within the Eastern Caribbean are impacted by the introduction of EFT. Through the new features of ACH business customers will now have the opportunity to bring all transactions to one Financial Institution within the Eastern Caribbean.  With EFT there is no longer a need to split payroll and the way that people receive their money is changing. This can now be processed by one single FI.

What information will be required from employees, clients or suppliers?

  • Name
  • Account number(s)
  • Account type(s)
  • Bank routing/transit number(s)
  • Reference #

How long does the application process take?

Up to five (5) business days for enrolment, subject to the completion of forms and approval.

Will the manual salary/payroll sheets still be accepted?

Yes. However, this manual process will be phased-out (A deadline date will be established by ECCB/ECACH).  ECACH EFT will be the standard for processing salaries/payroll, and all customers wishing to benefit from this service will be required to enroll.


What is the Eastern Caribbean Securities Exchange (ECSE)?

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.

Where and how do I purchase or sell a Security on the ECSE?

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.

What is a Security?

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.

What happens when I purchase Securities listed on the ECSE?

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.

What is a Securities Market?

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.

Can I open a joint account?

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.

Can I use my Securities as collateral for a loan?

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

Can I transfer my Securities as gifts?

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.

How can I obtain a statement of my Securities?

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.

Are there any tax benefits of having a student loan with Bank of Saint Lucia?

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

What is the most effective method of contacting my Loans Officer?

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

How do I request disbursement for my new school term/year?

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.

What are the tuition payment options available?

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.

How can I effectively manage my monies whilst at school?

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!

What are my options if my expenses have increased and I am struggling financially?

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.

What should I do if I lose or misplace my bank draft?

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).

Who can I contact if I am experiencing difficulties with my International Debit Card?

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

What should I do if I decide to change the school where I am enrolled?

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.

What should I do if I want to change my approved area of study?

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.


What is My Rewards?

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.

How do I qualify for My Rewards?

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

How do I activate My Rewards?

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

Are there any costs associated to My Rewards?

There are no additional costs associated with using My Reward.

How do I earn points?

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

How are redemption points calculated?

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

How can I redeem my points?

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.

Can I combine my points to make purchases?

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

Will my points expire?

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

Can I use my points to purchase anything?

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


Will my existing PIN continue to work?

Yes, your existing PIN will continue to work

How long does it take for my new PIN once created online to become effective?

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

How many times can I change my PIN?

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

Do I need to know my current PIN to be able to change to a new 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

Do I need to sign-up for the Online Card Inquiry before I can use this Service?

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

Is there a minimum amount that I can deposit on such an account?

The minimum investment is EC$500,000 or US$200,000.

Do I receive statements after opening the account?

Yes. You receive annual statements from Bank of Saint Lucia which show all the details of the PFIA.

What is the Premium Fixed Income Account (PFIA)?

A Premium Fixed Income Account is a fixed income,term deposit account available at Bank of Saint Lucia Limited.

What is the investment objective of the PFIA?

To provide investors with returns above the ordinary savings rate through the generation of a predictable flow of income.

How long can I maintain a deposit in a PFIA?

Your deposit in a PFIA can be for a minimum of thirty (30) days or as long as over one (1) year.

Are there any risks associated with this deposit?

All investments carry some degree of risk. Notwithstanding,PFIA investments carry the full weight and backing of Bank of Saint Lucia Limited.

Can I withdraw from the account before maturity?

Withdrawals prior to maturity are not allowed. To facilitate drawdowns the account would have to be closed and subject to penalty.

Can I use this account as collateral for loans?

Yes. The PFIA can be used as collateral for your loans.

Who can invest in a PFIA?

Both individuals and institutions can utilize the PFIA.

Will this deposit be accepted as a prescribed security by the Registrar of Insurance?

Yes. Insurance companies utilizing the PFIA can pledge the account with the Registrar for their statutory requirements.


Do I receive a certificate or a receipt after making my investment?

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.

What is the minimum amount required to open the account?


What are the required monthly contributions?

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.

What are the documents required to open an Edu Start Savings Plan?

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.

Can I open an Edu Start Savings Plan in my name?


How many beneficiaries can I have on the Edu Start Plan?

Each account is allowed only one beneficiary.

Can I withdraw from my account at any time?

No.  Withdrawals are not allowed.

Can I deposit directly into the account?

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.

What is the return on the Edu Start investment?

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.

When is interest paid?

Interest is paid annually.


How do I apply for a Bank of Saint Lucia Visa Credit Card?

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

What are the requirements for a Bank of Saint Lucia Visa Credit Card?

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

How long does it take to get approved for a credit card?

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

What is a credit limit, and how is it determined?

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

What is the minimum payment on a credit card, and how is it calculated?

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.

Are Credit cards only for emergencies?

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

Can I make just the minimum payment each month?

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.

What is the Quick Cash Loan?

The Quick Cash Loan is a swift financial solution that allows customers to borrow up to $5,000. It's designed for those who need immediate funds, with approval granted within 2 business days of applying.

How much can I borrow with the Quick Cash Loan?

You can borrow up to $5,000 through the Quick Cash Loan, providing you with a quick and convenient source of funds for unexpected expenses, emergencies, or other immediate financial needs.

How fast can I expect approval for my Quick Cash Loan application?

We understand the urgency, and that's why we strive to provide a quick decision. You can expect approval within 2 business days of submitting your all relevant documents and/or upon credit check completion, allowing you to access the funds you need promptly.

What is the repayment period for the Quick Cash Loan?

The Quick Cash Loan offers a flexible repayment period of 15 months. This allows you to repay the loan at a comfortable pace, giving you financial breathing room to better manage payments.

Are there any restrictions on how I can use the Quick Cash Loan funds?

No, you have the freedom to use the Quick Cash Loan funds as you see fit. Whether it's for medical expenses, home repairs, car maintenance, or any other urgent financial need, the choice is yours.

What are the eligibility criteria for the Quick Cash Loan?

Eligibility criteria may vary, but generally, you should have a stable income and a good credit history. Contact our team or visit our website for specific eligibility details.

Can I repay the Quick Cash Loan early without penalties?

Absolutely! You have the flexibility to repay your Quick Cash Loan ahead of schedule without incurring any prepayment penalties.

How do I apply for the Quick Cash Loan?

Applying for the Quick Cash Loan is a straightforward process. You can visit our website or apply via WhatsApp at 1-758-720-2675.

Are there any hidden fees associated with the Quick Cash Loan?

Our loan terms and associated fees are clearly communicated during the interview and/or outlined in your commitment letter. There are no hidden fees, ensuring you have a clear understanding of your financial commitment.

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