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FAQ2020-01-27T12:49:10-04:00
How Safe is SVCB Online Banking2020-08-18T17:13:17-04:00

SVCB provides a number of security measures to protect the confidentiality of your accounts when banking online which includes the following:

  1. User ID and Password – When you enroll for online access, a unique User ID and Password will be generated and communicated to you. This will be used every time you log in to the Online Banking platform to access your accounts.

 

  1. Session expiration – SVCB automatically logs you off after 10 minutes of inactivity. This lowers the risk of others accessing your account online when the computer is left unattended.

 

  1. Firewall and Network security – SVCB computer systems are protected at all times by firewalls and other security hardware and software that blocks unauthorized users from accessing your account information.

 

  1. Technology updates – SVCB is always committed to updating its technology infrastructure as necessary to maintain high security standards and ensure the protection of your financial information.

 

  1. Security Codes (MFA)Security or Multifactor Authentication codes are used as a second level of security. Every time a customer uses their mobile device or browser, a security code is sent out to the customer’s registered email address which must be entered before accessing the account. If the customer ticks the “Remember Me” feature, then the customer will not be prompted to enter a code, the device will perform the secondary security check behind the scenes using the invisible handshake method. Customers need to ensure they are only using the “Remember Me” feature on trusted devices.

 

  1. BiometricsIn this age of technology, many devices have biometrics built into them. By enabling biometrics such as Touch ID (Fingerprint) and Face ID, these will add more protection to the accounts.

 

  1. Lockout threshold – the system is designed to block unauthorized access by limiting login attempts. Entering an incorrect password three (3) times results in the suspension of the account which can only be reactivated by contacting the Bank.

 

  1. Entrust Digital Certificate / Secure Seal – The Saint Vincent Co-operative Bank Ltd. uses a 128-bit SSL digital certificate issued by Entrust Datacard Corporation, a 3rd party global certificate authority. The Entrust Secure Seal and digital certificate ensures that clients are visiting a registered and official SVCB web site. It also ensures communication between the client and Saint Vincent Co-operative Bank Ltd. is encrypted to protect against Internet eavesdropping of confidential personal information and transactions.

 

How secure is my User ID and Password?

  1. When you enroll for online access, you will be provided with a User ID and Password, which will be used every time you log in to online banking to access your accounts.

 

  1. Your User ID is unique and must never be shared.

 

  1. Passwords should contain 10 to 12 alphanumeric characters that will be difficult to guess. Every time you type your password, its characters will be masked.

 

Why do I need to provide a Challenge Question?

 

As an added protection, you are required to choose three Challenge Question from a predefined list. To ensure that nobody else can change your password except you, use answers that are not easily guessed by other people.

 

How do I change my account password?

  1. Log in by entering your User ID and Password then click Login.
  2. On the upper-right side, click on “Settings”.
  3. Click “edit” on the password tab.
  4. Enter Current Password then your New Password
  5. Retype new password
  6. Click “Save” and changes will be reflected

 

What should I do if I forget my password?

  1. You can change or reset your Password by clicking the Forgot Password link from the Online Banking home page. To verify your identity, you will then be required to provide User ID, and the answer to your Challenge Questions.

 

  1. If information provided are correct, you will receive a temporary password through your registered email which you may use upon log-in. You will then be asked to change this temporary password upon log-in.

 

  1. If you cannot answer the Challenge Question, you may call the Bank at (784) 456-1894 or email us at customerservice@svcooperativebank.com for assistance.
How can I access money from my account if I live abroad?2020-01-27T12:33:07-04:00

One can access money from their account if they live abroad by sending detailed notarized instructions.

How long does it take to approve a consumer loan?2020-01-27T12:43:02-04:00

Once all requirements are met, the approval of a consumer loan takes one day.

How much money do I need to start a Savings Account?2020-01-27T12:36:38-04:00

A minimum of ECD50.00 is needed to start a savings account.

What are the requirements for opening a Savings Account?2020-01-27T12:47:44-04:00

For an individual employed with an organization:
• Recent Pay Slip/Job Letter
• Two pieces of Photo Identification
• Proof of Address

For an individual who is self-employed:
• Trader’s Licence / Farmer’s Identification / Fisherman’s Identification / Job letter Stamped and Signed by Justice of the Peace (whichever is applicable)
• Two Pieces of Photo Identification
• Proof of Address

What is the lowest balance I have to leave to maintain my account?2020-01-27T12:40:41-04:00

The lowest amount to leave to maintain a savings account is ECD5.00

How do I go about securing a loan?2020-04-02T10:55:15-04:00

For consumer loans:
• Salary assignment / Salary Deduction
• Cash / Endorser

For vehicle loans:
• Salary assignment / Salary Deduction
• Bill of Sale on the vehicle to be purchased
• Assignment of Comprehensive Vehicle Insurance

For mortgage loans:
• Land to be purchased / Property to be purchased / House to be constructed (whichever is applicable)
• Salary Assignment / Salary deduction
• Peril insurance on property

Please note the following:
i) Commercial loans can fall under the category of consumer or mortgage loan depending what is being offered as security.
ii) Loan insurance is available
iii) Other terms and conditions may apply.

You can call or visit the Bank to schedule an appointment at your convenience with one of our experienced loan officers.

What are the Bank’s opening hours?2020-01-27T12:42:43-04:00

The Bank’s opening hours are

Monday to Friday: 8:00 am to 2:30 pm.
Saturdays: 8:30 am to 11:00 am

How does my account become dormant?2020-01-27T12:43:52-04:00

If no deposits and withdrawals are made for a minimum period of two (2) years, your account is classed as dormant by the Bank.

Can I deposit or withdraw cash if my account becomes dormant?2020-01-27T12:44:24-04:00

No. You will not be able to deposit or withdraw cash from a dormant account until it is reactivated.

What can I do if my account is dormant?2020-01-27T12:44:56-04:00

You will be required to reactivate your account by presenting the same documents required to open a savings account. ALL parties to the account will need to present the required documents if possible. Once reactivated you can proceed to deposit and withdraw from your account at your convenience.

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