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Membership FAQs

Q

How do I open a new single account?

In compliance with the Anti-Money Laundering Act, two pieces of identification are now required to open new accounts at financial institutions.

ACCEPTED FORMS OF ID

PRIMARY
  • Barbadian national identification card
  • Valid passport
  • New driver's license card
SECONDARY
  • Government-issued photo IDs
  • Student cards with photo
  • Retail outlets customer card with photo

    TATTERED OR DAMAGED ID CARDS WILL NOT BE ACCEPTED!

Proof of address which can be either of the following: 

  • All utility bills 
  • Gov't Dept. cheques that are posted to the recipients 
  • Post Marked envelopes 
  • Bank Statements 
  • Hire Purchase statements 
  • Letter from landlord accompanied by a rent receipt  
  • Letter from parent or guardian and a proof of address for the parent or guardian 
  • Letters from the Electoral And Boundaries Commission 
(All documents should not be more than 3 months old.) 
 
    * Minimum deposit of BDS $50.00
    * Membership fees of BDS $10.00
Q

How do I set up a Joint Account?

Only two persons may comprise a Joint Account Agreement.

There are two types of joint accounts:

  • Joint And :requires signatures and identification from both parties to be presented to effect any withdrawals;
  • Joint Or: presentation of identification and a signature of either party comprising the joint account is needed to execute any withdrawals.

Any deposit to this account is and will be jointly owned. Any one or both of the Joint Account holders may, after signing the appropriate documentation withdraw some or all of the funds remaining on the account. 

To setup a Joint account...

  • Complete the joint account forms
  • Ensure both applicants affix their signatures
  • Make the minimum deposit 

Each party will need to provide all the requirements of the Single Account (stated above)

 

Q

How do I transmit deposits to my account from overseas?

You may send funds via:

  • Personal Cheques
  • International Money Orders
  • Family members may visit our office and quote your account number and address and make deposits directly to your account.
  • Electronic Wire Transfers

For electronic Wire Transfers from the United States:

Intermediary Bank: The Bank of New York Mellon
Address: 1 Wall Street
New York, NY 10286
U.S.A.
Swift Code: IRVTUS3N
Or ABA# 021000018

Account with Institution: First Citizens Bank (Barbados) Limited
Swift Code: FCTTBBBB
Account No:
890-1178-969

Beneficiary Name: City of Bridgetown Co-operative Credit
Beneficiary Account number: 50000067938

Or
Intermediary Bank: Citibank New York
Address: 111 Wall Street
New York, NY 10043
Swift Code: CITIUS33
Or ABA# 021000089

Account with Institution: First Citizens Bank (Barbados) Limited
Swift Code: FCTTBBBB

Account No: 36023685

Beneficiary Name: City of Bridgetown Co-operative Credit
Beneficiary Account number: 50000067938

For electronic Wire Transfers from the United Kingdom:

Intermediary Bank: Citibank - London
Address: Citigroup Centre/Canary Wharf
33 Canada Square E14 5LB
London UK
Swift Code: CITIGB2L
Or Sort Code: 18 50 08

Account with Institution: First Citizens Bank (Barbados) Limited
Swift Code: FCTTBBBB
Account No:
10423890

Beneficiary Name: City of Bridgetown Co-operative CreditBeneficiary Account number: 50000067938

For electronic Wire Transfers from Canada:

Intermediary Bank: Bank of Montreal
Address: Floor 3, 234 Simcoe Street
M54 1M6, Toronto Canada
Swift Code: BOFMCAT2

Account with Institution: First Citizens Bank (Barbados) Limited
Swift Code: FCTTBBBB

Account No: 31691057138

Beneficiary Name: City of Bridgetown Co-operative Credit
Beneficiary Account number: 50000067938

For a complete list of Wire Transfer routing addresses please CLICK HERE

 

Q

How do I check my balances?

  • Use our FREE Easy E-Banking (Internet Banking) option
  • Take advantage of our FREE Easy Voice (Telephone Banking) option
  • Use our FREE Mobile App with Easy Pay
  • Via our ATMs (Located at our branches at Broad Street, Manor Lodge and Black Rock)
  • Via any CARIFS-ready ATM
  • By visiting  any branch of the COB Credit Union 

 

Q

What is an Agent?

An agent is noted as a person who has been empowered by the account holder to conduct business on the account on their behalf until such time as permission is withdrawn. The account holder must submit a letter bearing his/her signature and a seal from a Justice of the Peace or Notary Public.

Please note: At the death of the account holder, the Agent Agreement becomes null and void and the Agent shall not perform any transactions after the date of death. 
 
Q

As a Barbadian resident, how do I make deposits to my account?

Deposits can also be made to your account in the following ways:
  • Through our ATMs (Located at our branches at Broad Street, Manor Lodge and Black Rock)
  • Via our Fast Deposit facility
  • Via our Night Deposit facility
  • Through payroll/salary deductions 
  • At any branch of the Republic Bank (Barbados) Ltd.

ATM Deposits

  • All ATM deposits are cleared twice daily, at 10 am and at 2pm. All envelopes are credited within forty-eight (48) hours of receipt. 
  • All lost or stolen ATM cards should be reported to any of our Contact Centre Representatives as a matter of urgency to prevent any unauthorized debiting of the account. Replacement cards are issued for a fee of $20. 
  • Please remember your PIN number must not be shared with anyone. 

Fast Deposits 

  • Our Fast Deposit system allows you to credit your account and make loan payments without the hassle of standing in line. 
  • Fast Deposit envelopes are available from any of our offices. Completed envelopes should be dropped into the fast deposit box provided. 
  • Envelopes are cleared three times daily and are credited to the account within forty-eight (48) hours of receipt.

 

 
Q

What is a Trustee?

A Trustee is an individual (parent, guardian or adult party) entrusted with the care of the property of a minor – that is – an individual who is under the age of 16. The trustee is not the owner of the account but must open and operate the account on behalf of the minor.