Legal
Terms & Conditions
This page summarises the terms that apply to Sagicor Bank products and services. For the complete, legally binding agreement applicable to your account, contact the Client Experience Centre on (246) 228-7225.
01About these terms
These terms and conditions govern the accounts, cards and services provided by Sagicor Bank (Barbados) Limited. By opening an account or using any Sagicor Bank service, you agree to be bound by them. We will tell you before we make a material change.
02Opening and funding an account
Accounts are opened through the Sagicor Bank Mobile App, subject to identity verification and our onboarding requirements. An account must be funded within 30 days of opening; accounts not funded within that period will be suspended. A .deposit (USD) account remains inactive until the required documents have been provided and validated.
03Fees and charges
The fees that apply to your accounts, cards and transactions are set out in our Schedule of Charges. Where a product requires a minimum balance to avoid a monthly fee — as the .expert-saver account does at BBD $2,500 — that requirement and the applicable fee are stated on the product page and in the schedule.
04Interest
Interest on savings accounts is calculated on the minimum quarterly balance and is paid quarterly, unless the product states otherwise. Interest on a .fixed investment account is paid at maturity, and premature withdrawals attract a penalty.
05Cards
Debit and credit Mastercards issued by Sagicor Bank remain our property and must be activated in the Sagicor Bank Mobile App. You are responsible for keeping your card, PIN and app credentials secure, and for notifying us immediately if a card is lost, stolen or compromised.
06Sagicor Pay
Sagicor Pay may be used to transfer funds between Sagicor Bank (Barbados) clients only, using a mobile number or email address linked to a Sagicor Bank account. It does not facilitate client-to-business or business-to-business transfers. Funds are deposited to the recipient's default account.
07Loans
All credit is subject to application, assessment and approval. Rates shown on this website are indicative and are not an offer of credit. Sagicor Bank does not charge penalties for the early repayment of a loan.
08Security and fraud
Sagicor Bank will never ask you for your full password, your PIN or a one-time code by telephone, email or message. If you believe you have been the target of fraud, contact the Client Experience Centre immediately and freeze any affected card in the app.
09Complaints and disputes
If you are unhappy with a service, or do not recognise a transaction on your account, raise it with our Client Experience Centre or through the Help Desk. We will acknowledge your complaint and keep you informed while we investigate.
Privacy
How Sagicor handles your personal information is set out in the Sagicor Group privacy policy for Barbados.
Read the privacy policyQuestions on the terms?
Ask us directly.
Our Client Experience Centre is on (246) 228-7225, or email support@sagicor.bank.