Terms and Conditions

1. What’s Covered

We want you to understand how Sagicor Bank (Barbados) Limited’s (“Sagicor Bank”) products and services work. This document gives you these general terms and conditions (“Terms and Conditions”), as amended from time to time which are providing you with what you need to know about the rules that govern your relationship with Sagicor Bank. By clicking “I have read and agree to the Terms and Conditions” on Sagicor Bank App or Sagicor Bank Online, or using our products and services, you acknowledge and agree that you have received, read and agree to be bound by the provisions of these Terms and Conditions.

You always have access to the Terms and Conditions through your Sagicor Bank App or Sagicor Bank Online Terms & Conditions | Sagicor.

2. Introduction

These Terms and Conditions make up part of the Agreement between you and us for any Account, product or service you have with us. Along with these Terms and Conditions, note that these documents listed below are also part of your Agreement with us:

• The Rates, Fees and Charges:-Schedule of Charges Page | Sagicor;
• The Privacy Policy which forms part of these Terms and Conditions and found at Terms & Conditions | Sagicor

Also, see below the meaning of the words used in this Agreement in the ‘Explanation of Words’ section below.

3.  Who We Are

Sagicor Bank (Barbados) Limited or Sagicor Bank is an incorporated company that has been registered as a commercial bank by the Central Bank of Barbados and is subject to operate under the laws of Barbados.

4. Explanation of Words

Here are definitions of some of the words and terms used in these Terms and Conditions or Agreement. Please review and refer to these words carefully to ensure complete understanding.

• “Account" means each account you have with us that we open and maintain for you. Account also includes a Sagicor Bank wallet, savings account, deposit account, Term Deposit, Loan or any of them.
• “Account Holder” means a Person who is a customer of Sagicor Bank and includes a joint account holder.
• “Affiliate(s)” means in relation to Sagicor Bank a member company of the Sagicor Financial Corporation Limited.
• “Alerts” means those warning functionalities that you can activate on the Sagicor Bank App regarding the use of your Card, products or services.
• “Agreement” means collectively the agreement in place between us and you in respect of your Accounts, which comprises these Terms and Conditions, our Privacy Policy, Credit Card Agreement, any other relevant agreement, App, each applicable Rates, Fees and Charges sheet and any supplements, other schedules, appendices or addenda, all as may be amended from time to time, and as they apply to you and any instructions you give us under any of the Agreements.
• “App” or “Sagicor Bank App”, means the Sagicor Bank mobile application, as updated from time to time.
• “Authorized User” means a person to whom a Card has been issued at the authorization of the Primary Cardholder.
• “Balance” means the total amount of all Transactions, fees, interest and other amounts charged to the Account or otherwise payable under this Agreement, less any payments or other credits which have been posted to your Credit Card Account.
• “Balance Transfer” means a Transaction in which you use funds from your Sagicor Bank Credit Card Account to pay the outstanding balance on another credit card, or other account belonging to you as determined by us (other than a credit card issued by Sagicor Bank), and thereby transfer that balance to the Credit Card Account.
• “Biometric Authentication” means the process by which the identity of an individual is verified using biometric data (for example, iris or fingerprint scanning or facial recognition).
• “Business Day” means a day on which Sagicor Bank is open for business and excludes Saturdays, Sundays and public holidays.
• "ATM" means an automated teller machine or card operated machine or device whether belonging to us or of any other bank on a shared network, you can use your Card to access your funds in your Account/s held with us.
• "ATM Limit" means the maximum permissible limit prescribed by the Sagicor Bank for all cash withdrawals and/or any other Transaction which you may effect through an ATM in any one day or per transaction.
• “Card” means the Debit Card and/or Credit Card, virtual or physical, we issue to you as well as any renewal or replacement Cards we may issue from time to time, whether in physical or electronic form, to enable you to access your Debit Card and/or Credit Card Account.
• “Cardholder” is the person to whom a Card has been issued, including an Authorized User.
• “Card PIN” means your personal identification number being a series of numbers used to authorize transactions in conjunction with the Card, as distinct from any password or PIN you may use to access other Sagicor Bank App or Sagicor Bank Online.
• "Card Transaction" means any payment made or any amount charged for any goods, services and/or other benefits by, through or from the use of the Debit Card in signature or the PIN or in any other manner, regardless of whether a sales draft or other voucher or form is signed by you and whether authorization has been sought by us.
• “Credit Card Account” means any Sagicor Bank Credit Card Account established in the name of the Primary Cardholder.
• “Credit Limit” means the credit limit for your Credit Card Account shown on your monthly statement, as changed by us from time to time in accordance with this Agreement.
• “Debit Card” means any Sagicor Bank Debit Card Account established in the name of the Primary Cardholder.
• “Digital Authentication” means where the User is identified and verified electronically.
• “Online” or “Sagicor Bank Online” means the Sagicor Bank internet banking facilities as updated from time to time. It is our online service allowing you to access your Account(s) via an internet browser. This does not include the App.
• “Wallet”, “Sagicor Bank Wallet” or “Sagicor Bank Wallet Account” means a product offered by Sagicor Bank through the Sagicor Bank App non-interest bearing that may be used by you as a wallet on your Mobile Phone or any other permitted device.
• "Electronic Services" means any banking and other products and services or facilities which we and/or any Participant may make available to you from time to time and offered via electronic means, including any card, electronic computerized or telecommunication devices or modes of operating accounts in or outside Barbados, and where the context requires, also means any PAC, PIN and/or Card used to access Electronic Services.
• “Electronic Communication” means communication sent by phone or internet connection. This includes phone, fax, email, text messaging, video messaging, instant messaging.
• "Information" means information regarding the money or other relevant particulars relating to you, or any User, or the Account or any Transaction.
• "International Transactions" refers to the transactions performed by you through the Debit Card or Credit Card outside Barbados.
• “Loan” means lending or credit facility you enter into with Sagicor Bank e.g., personal loan, construction loan, promissory note, mortgage etc.
• “Loan Contract” means the specific contract you enter into with Sagicor Bank with specific terms and conditions for your Loan.
• "Merchant" means any person, firm or corporation which enters into an agreement with the Sagicor Bank, or any member or licensee of Mastercard International, Visa International, or any other Electronic Service provider relating to the use and/or acceptance of a Card in payment to such person whether for goods, services or charges provided or incurred.
• “Minor Account Holder” means an Account Holder who has not attained eighteen (18) years of age or such other age as Sagicor Bank may determine in its discretion.
• “Mobile Phone” means a telephone with access to a cellular radio system so it can be used over a wide area, without a physical connection to a network.
• “Participant” means any person, firm, company or organization in Barbados or otherwise which, from time to time, participates or is involved, directly or indirectly, in providing Electronic Services or any goods and services in relation to the Card.
• “Payment Due Date” means the date shown on your monthly statement on which your Minimum Payment is due.
• “Person” means any individual, company, firm, partnership, joint venture, association, sole proprietorship, trust or any incorporated or unincorporated entity.
• “Personal Access Code” or “PAC” means a personal identification number, being a series of numbers generated by the user in the Sagicor Bank App or Sagicor Online and/or access of Electronic Services.
• “Personal Data” means any information relating to an identified or identifiable natural person.
• “Point of Sale” or “POS” transactions means transactions initiated at Merchants' point of sale terminals.
• “Primary Cardholder” means the person who applied for the Card and whose name is on the Credit Card Account or Debit Card Account.
• “Privacy Policy” means the agreement containing our privacy terms and conditions.
• “Rates, Fees and Charges” means the separate document which sets out the rates, fees and charges applicable to your Account.

• “Savings” refers to a savings account designated by us to be an eligible account for operation using the Debit Card and/or accessed by you through Electronic Services.
• “Security Information” means the information we request from you such as codes such as access codes, security questions (personal verification questions) and answers and passwords for access to Sagicor Bank App or Sagicor Bank Online and or for use in association with your Card (including through the App or Sagicor Bank Online or when we open your Account) to ensure your Account and your use of the App remain secure. 
• "Spending Limit" means the maximum permissible limit prescribed by us in respect of total Transactions effected in a day.
• “Statement Date” means the date of your monthly statement.
•  “Term Deposit” means (as applicable) the fixed term deposit product that is offered by Sagicor Bank which have a fixed term and pay a fixed amount of interest or cashable term deposit that is offered by Sagicor Bank.
• “Transaction” means any transaction or instruction effected or issued, or purported to be effected or issued, by you through the Card and/or the Sagicor Bank App and/or Sagicor Bank Online and/or Electronic Services.
• “URL” means Uniform Resource Locator which is a unique identifier used to locate a resource on the internet. It is also referred to as a web address.
• “us”, “we”, “our”, means Sagicor Bank.
• “you” or “your”, “User” means the Account Holder.

In these Terms and Conditions, the headings which accompany clauses are for convenience and reference only and are not intended to define or limit the meaning, scope and contents of these Terms and Conditions.

5. Confirmation of your Agreement to Terms and Conditions

These Terms and Conditions apply to all Sagicor Bank’s products and services whether existing or future unless any specific terms and conditions applicable to an Account state otherwise.  These Terms and Conditions are to be read in conjunction with the specific terms and conditions (“Specific Terms and Conditions”), if any, of any products and services of Sagicor Bank. In the event that there is a conflict or inconsistency between any Specific Terms and Conditions and these Terms and Conditions then the Specific Terms and Conditions will prevail to the extent of any such conflict or inconsistency.  

6. Changes to Terms and Conditions

We reserve the right to vary, amend or replace all or any of these Terms and Conditions at any time without prior notice.  We shall notify you of any changes made to these Terms and Conditions as soon as is practicable and any changes to these Terms and Conditions will be communicated to you via any of the following means, that is, market announcements, notices via Sagicor Bank App, Sagicor Bank Online, our ATM screens, email or any other method of communication that Sagicor Bank desires to utilize.  Sagicor Bank considers you to have received notice on the same day it was posted via the market announcement, posted via Sagicor Bank App or Sagicor Bank Online, our ATM screens or the same day it was sent via email.   You acknowledge that any time you access and use any product or service of Sagicor Bank after an amendment to any part of this Agreement you accept and agree to the changes.

7. Electronic Signatures

“Electronic Signature” or “Digital Signature” refers to your electronic signature or digital signature and includes any symbol executed or adopted, or any methodology or procedure employed or adopted by a person with the intention of authenticating a record, including electronic or digital methods or each combination of numbers and/or letters selected by you, for your exclusive use, as a means of your authorization to use certain products or services that are available from us from time to time.

Your Electronic Signature includes: (i) your PIN used ATMs, and debit POS Devices, (ii) your Personal Access Code for access to Sagicor Bank App or Sagicor Bank Online, (iii) your written signature at debit POS devices without PIN pads, (iv) digitally or electronically applied signature (v) click, swipe or other similar method or (vi) Security Information. We treat and accept your Electronic Signature as your authorization whenever it is used with any product or service of Sagicor Bank including your Card, Sagicor Bank App, Sagicor Bank Online, Sagicor Bank Wallet or any other product or service and any instructions received, or Transaction done, and your Electronic Signature will have the same legal effect as if you signed a written direction to us. You agree that except to the extent caused by any gross negligence misconduct or fraud on the part of Sagicor Bank, you will indemnify Sagicor Bank against any claim cost or liability arising out of any unauthorized use of your Account using your Electronic Signature or Digital Signature.

8. Digital Authentication

You acknowledge and agree that to use Sagicor Bank’s products and services that you are required to register your profile using the App. Details of your verified identity, your email which will be stored for future use for Sagicor bank’s products and services with you and for the purposes of and according to the retention regulations of the laws of Barbados. You acknowledge and agree that on signing up for Sagicor Bank’s products and services that we use Digital Authentication to verify your identity information which is then stored in your profile can be used to streamline the process or accessing and using Sagicor Bank’s products and service, although you may be prompted to provide information from additional identification documents if required, for example, an identification or proof of address. You agree that except to the extent caused by any gross negligence misconduct or fraud on the part of Sagicor Bank, you will indemnify Sagicor Bank against any claim cost or liability arising out of any unauthorized use of your Account using your Digital Authentication.

9. Death or Incapacity

Your death or incapacity will not revoke any order to withdraw or transfer funds from your Account until we have actual knowledge of the fact of death or of an adjudication of incapacity by receipt of an appropriate order of a court of law and we have had a reasonable opportunity to verify same and act on such knowledge.

10. Release of funds on death

We will require estate documentation to release funds from any Account upon death of an Account Holder. Estate documentation means any document that may be required by us in our sole and absolute discretion and may include a death certificate, administration of the estate, probated will, notarized will, or any other legal process used to determine the validity of a will and/or the distribution of a deceased person’s assets.

In the event of any dispute regarding the release of funds upon the death of an Account Holder, we may, subject to applicable law, pay the amounts held in any Account into court and recover any expenses, including legal fees, incurred by us from the funds in the Account. With respect to joint Accounts, we are authorized to release any information about the Account(s) to the estate representative of the deceased Account Holder.

11. Appointing an attorney

You may appoint one or more attorney(s) to act for you regarding your Account(s). However, we can refuse to accept the appointment, in our sole discretion, if it is not satisfactory to us or we may refuse to honor any Account Transaction made by an attorney. If your Account is held jointly, we may also refuse to honor any Account Transaction made by an attorney unless their appointment regarding the joint Account has been agreed upon in writing by all Account holders. An attorney will have access to the previous Account history and all Transaction details for the Account and you agree to this access being provided.

12. Non-residents

If you are a non-resident of the country where your Account(s) are domiciled, you are advised that such banking Transactions may have tax consequences in the country where your Account(s) are domiciled and/or in your home country. Accordingly, if you are a non-resident, you should obtain prior written advice for such Transactions from qualified tax advisors in your home country or where the Account(s) are located. We may request a copy of such advice prior to opening an Account or providing you with a product or service or anytime after having opened an Account.

13. Change of Account Holder’s Particulars

You must inform Sagicor Bank as soon as reasonably practicable of any change in your personal information including your address, telephone number, employment details, source of funds or email address. You can update this information at any time on the Sagicor Bank App.

14. Abandoned Property

The laws of Barbados require that funds or property of any kind held by or owing in the course of its business by Sagicor Bank in respect of which no activity has been evidenced for a period of 10 years is abandoned property. After such a period, the Financial Institutions Act of Barbados, as amended, (“FIA”) provides a procedure to be followed for the disposal of the abandoned property. Following such procedures, Sagicor Bank shall deposit with or convey to the Central Bank of Barbados, in the prescribed manner under the FIA, all abandoned property which remains unclaimed, after which Sagicor Bank is relieved from any liability to the beneficial owner thereof to the extent of the value of the property deposited or conveyed to the Central Bank of Barbados and interest shall cease to accrue in respect of that abandoned property.

15.  Anti-Money Laundering and Other Laws

You agree to assist us in the discharge of our obligation to combat money laundering, terrorist financing, proliferation financing and economic sanction breaches and compliance with all relevant laws by providing to us any documents and information about you and your financial dealings reasonably required:

1. On specific transactions being conducted on your behalf;
2. To update your records;
3. To manage its money-laundering, terrorism-financing, proliferation financing or economic and trade sanctions risk;
4. To comply with any laws or regulations; or  
5. To comply with any applicable direction, request or requirement (whether or not having the force of law) of any competent government or other authority.

You have agreed that the processing of any Transaction by us in accordance with your instructions will not breach any law or regulations in any country.

Sagicor Bank may delay, block or refuse to process any transaction if we suspect or has reasonable grounds to suspect that:

1. the Transaction may breach any applicable laws or regulations;
2. the Transaction involves or may involve any Person that is itself sanctioned or is connected, directly or indirectly, to any person that is sanctioned is under economic and trade sanctions imposed by , including but not limited to, the United States, the United Nations, the European Union, any supra- national organization, official body or any country; or
3. the Transaction may directly or indirectly involve the proceeds of, or be applied for the purposes of, conduct which is unlawful in Barbados or any other country Sagicor Bank.

16. Limitation of Liability

You agree that we shall not be liable and you will absolve and hold us blameless in respect of any loss, damages, charge or expense which you may suffer or incur arising from (1) your breach of these Terms and Conditions; (2) any failure on the part of telecommunications services, public utilities or network; (3) any change in law, regulation or regulatory guidelines; (4) any fraudulent or criminal acts including the unauthorized use of a Card, Card PIN, PAC, access code or internet Sagicor Banking credentials; (5) operational failure of any electronic Sagicor Bank information, system settlement network, App, ATM, POS or Sagicor Bank Online facilities; (6) your failure to provide or input complete or accurate or inadequate information; (7) any delay or failure in completing any Transaction resulting from us receiving inaccurate or incomplete Transaction instructions; (8) any claim or dispute arising between you and the beneficiary of any intended payments; (9) the acts, omissions or defaults of any correspondent Sagicor Bank or collection agent who when acting as such, shall be deemed to be your agent; (10) the exercise of any right, authority or discretion conferred on us by these Terms and Conditions; (11) our failure to comply with your instructions due to your failure to issue instructions in a timely manner thereby not giving us a reasonable opportunity to act; (12) any exchange rate losses due to fluctuations in the rate of exchange in the course of execution of a Transaction, or (13) any interruptions of Sagicor Bank’s business due but not limited to equipment failure or malfunction, operator error, energy shortage, log in sequences, adverse weather conditions, earthquakes or other acts of God, or any circumstance or event outside of Sagicor Bank’s control notwithstanding anything contained in these terms and conditions to the contrary, in no event will we be liable for damages in excess of your actual loss, nor will we be liable for consequential damages.

17. How To Contact Us

If you have any questions or a complaint about our Agreement or our products or services, please get in touch with us:

• by email support@sagicor.bank; or
• by calling our Client Experience Team at 1 (246) 228-7225

Please note that Sagicor Bank does not accept service of legal proceedings through its customer services helpdesk.

18. How We Contact You

We may contact you via the App, by email, SMS, telephone, socials. Please make sure your details remain up to date. You can check these via the App. Any communications or documents from us will be in English.

19. Our Intellectual Property and Trademarks

We own or license all intellectual property rights and trademarks of our brand and name, our software, the Sagicor Bank Wallet, Sagicor Bank App and Sagicor Bank Online and all related materials. You will not have the right (including intellectual property right) to use or display these materials at any time.

20. BDIC Insurance

Sagicor Bank as a licensed commercial bank is covered by the Barbados Deposit Insurance Scheme (“BDIC”) which will pay compensation to eligible depositors if a bank is unable to meet its financial obligations. Eligible depositors are covered up to BBD$25,000 per depositor, not per each separate account. For more information about this assurance, including amounts covered and eligibility, you can visit their website: Barbados Deposit Insurance Corporation (bdic.org.bb).

21. Waiver

These Terms and Conditions cannot be waived by any of our agents or representatives. A waiver of these Terms and Conditions must be expressly authorized in writing by two (2) members of our senior management team in order to be effective. No failure on our part to exercise, nor any delay by us in exercising any rights or remedy under these Terms and Conditions, shall operate as a waiver of any of these Terms or Conditions, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise thereof or the exercise of any other right or remedy. The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law.

22. Severability

The provisions of these Terms and Conditions shall be severable and in the event that for any reason whatsoever any of the provisions or portions hereof are found by a Court or regulatory agency to be invalid, void or otherwise unenforceable the remaining provisions of these Terms and Conditions shall nevertheless remain valid and enforceable to the fullest extent permitted by law. Each agreement, including those contained in these Terms and Conditions, is a separate contract. If a court holds any agreement or any other provision in these Terms and Conditions, as invalid or unenforceable in whole or in part, the remaining agreements and provisions shall still be in effect and binding.

23. Additional Terms and Conditions

Separate terms and conditions may accompany specific products and services offered by Sagicor Bank. By using our products and services, you expressly agree to be bound by the terms and conditions applicable to the relevant product or service.

24. Service of Documents

We may serve you documents by delivering it personally, sending it by ordinary post or by leaving it at your last known address (whether a post office address or private residence or business residence or otherwise). You will be considered to have been properly served on the date of delivery if we deliver the documents personally to you or served on the next day after the date of posting if the documents are posted to you. In addition to these two (2) methods of service, we may serve you in any other method permitted by law.

25. Governing Law:

This Agreement is governed by and interpreted in accordance with the laws of Barbados.

26. Transaction Limits for your Wallet

For the Sagicor Bank Wallet holders, there is a different transaction limit that will apply with respect to the level you have applied for during sign up. Please see more details for this here sagicor.bank/support-centre/transaction-limits.html.

You will not be allowed to make transactions or fund your Sagicor Bank Wallet beyond the assigned limit of your level.

27. Payments using your Sagicor Bank Wallet

Subject to transaction limits prescribed to Sagicor Bank Wallet, you can use your Sagicor Bank Wallet services to:

1. Make payments at Merchant establishments locally;
2. Make bill payments;
3. Top-up or fund your Sagicor Bank Wallet using available funding options;
4. See all your Transaction history for your Sagicor Bank Wallet;
5. Check your statement on the Sagicor Bank App.

28. Loss of Mobile Phone

If you lose the Mobile Phone on which you had installed the Sagicor Bank App or Sagicor Bank Wallet, you will need to reinstall the App on your new Mobile Phone and login to the Sagicor Bank App with your existing login credentials.

If you suspect that your Sagicor Bank Wallet has been compromised, you have to advise us to deactivate your Sagicor Bank Wallet and any Card associated with the Sagicor Bank Wallet and contact us 1 (246) 228-7225 or via email at support@sagicor.bank  to reactivate it on your new Mobile Phone.

29. Suspension, Closure, Conversion, Termination by Sagicor Bank

We may suspend or terminate the Sagicor Bank Wallet and your use of the App with or without prior notice to you due to various reasons including:

1. Nonoperation of the Sagicor Bank Wallet for such period as may be decided by the Sagicor Bank as per its internal policy.
2. In case you do not opt to convert or upgrade Sagicor Bank Wallet within the time limit prescribed by us, we will notify you and transfer the remaining balance from your Sagicor Bank Wallet Account in accordance with the existing process and policy of Sagicor Bank and the extant guidelines issued by the Central Bank of Barbados, upon the balance in your Sagicor Bank Wallet Account becoming zero, we will close your Sagicor Bank Wallet Account.
3. Your death and incapacity and incompetency.
4. More than one Sagicor Bank Wallet Account has been opened by you.
5. Providing false or incorrect information.
6. Suspicious transactions while using our Sagicor Bank Wallet.
7. Due to any other legal or regulatory requirements.
8. If you have changed your email address.

Where we have not given prior notice, we will as soon as practicable give notice to you of such termination by such notification methods as we may choose, including through the Sagicor Bank App or via email or phone call. Such termination will be effective on and from the date specified in the notice.

If we decide to terminate the provision of our Sagicor Bank Wallet service, we will notify you and transfer the remaining balance from your Sagicor Bank Wallet Account in accordance with the existing process and policy of Sagicor Bank and the extent guidelines issued by Central Bank of Barbados and upon the balance in your Sagicor Bank Wallet Account becoming zero Sagicor Bank will close your Sagicor Bank Wallet Account.

Sagicor Bank's right to suspend or terminate your access to and use of the Sagicor Bank App and Sagicor Bank Wallet will be without prejudice to any other rights or remedies which Sagicor Bank may have under these Terms and Conditions, or any other applicable terms set out by law.

30. Termination by the Customer

If you decide to terminate your use of Sagicor Bank’s Wallet:

1. You will place an Account closure request from the Sagicor Bank App and follow the instructions for closure. Prior to submission of the closure request, the balance in the Account has to be transferred out and made zero.
2. You understand that deletion of the Sagicor Bank App alone does not terminate the use of or close your Sagicor Bank Wallet service. If you delete the App without providing the necessary instructions to us as mentioned above, the remaining balance will continue to remain in your Sagicor Bank Wallet Account for such period as may be applicable as per the policy of Sagicor Bank. Upon expiry of such period if your Sagicor Bank Wallet Account remains inactive, the section hereinabove on Abandoned Property applies.
3. You will not be entitled to any payment, compensation, or damages from Sagicor Bank in relation to the termination of your access to and use of the App and/or the Sagicor Bank Wallet service.
4. You will have to close your Sagicor Bank Wallet service in case of change of your email address. Once your Sagicor Bank Wallet is closed, no amount by way of refund or otherwise will be credited into the Sagicor Bank Wallet Account or in any other account within Sagicor Bank or outside Sagicor Bank.

31. Procedure in case of Death or Incapacity

If we are notified of your death or incapacity, the provisions hereinabove on Death or Incapacity apply.

32. Account set up

You may apply for a Sagicor Bank Account through the App.  We reserve the right to accept or reject any application of a Sagicor Bank Account.

At the time the Sagicor Bank Account is being set up, we will provide you with the associated fees (and where applicable, the interest payment frequency). Upon accepting these Terms and Conditions and subject to any transaction limit or restriction by Sagicor Bank in these Terms and Conditions, we will open a Sagicor Bank Account with these agreed Terms and Conditions. You will be notified of the Sagicor Bank Account set up and will confirm the commencement date in that notification via the App.

33. Transaction Limits for a Sagicor Bank Account

Transaction limits may apply according to the level of Account products and services you have selected at sign up. The higher the level, the higher the funding and Sagicor Banking features available. Please see more details for this here sagicor.bank/support-centre/transaction-limits.html.

34. Are there any restrictions to my Account?

We expect you to act responsibly when using your Sagicor Bank Account and services. You are prohibited from using our products and services in any of the following ways (whether directly or indirectly):

• For illegal uses (e.g. fraud, tax evasion, money laundering, terrorist financing, proliferation financing);
• In any way that we consider potential harmful to us;
• Where outside Sagicor Bank’s risk tolerance;
• To access a Sagicor Bank Account that is not yours;
• To give Sagicor Bank Card to any other person;
• To abuse or exploit any of our usage restrictions; or
• To carry out transactions to any individuals or entities within any of the countries listed , but not limited to, the U.S. Department of the Treasury's Office of Foreign Assets Control, the U.S. Department of State, the United Nations Security Council, the European Union, Her Majesty's Treasury, the Hong Kong government, or any other governmental authority with jurisdiction over Sagicor Bank or  its products and services; (ii) identified on , but not limited to, the Denied Persons, Entity, or Unverified Lists of the U.S. Department of Commerce Bureau of Industry and Security, the U.S. Department of the Treasury's Office of Foreign Assets Control, the U.S. Department of State, the United Nations Security Council, the European Union, Her Majesty's Treasury, the Hong Kong government, or any other governmental authority with jurisdiction over Sagicor Bank or  its products and services.

35. Signing Authorities and Rights of Survivorship

An Account held by more than one Account Holder is a joint Account and you agree that the money in the Account are held by you as joint tenants with the right of survivorship and there will be no implied agreement to the contrary including irrespective of any signing authority or special arrangements with respect to the operation of your Accounts. A Joint Account Holder’s authority in respect of the joint Account will otherwise cease on proper notification of that Joint Account Holder’s death being provided to us. Your liability under an Account held in joint names is joint and several, this means each and/or all Account Holders are liable for the whole of the debit balance on the Account and we shall have the right to recover by suit or otherwise from all or any Account Holder the amount owing on the Account. You hereby authorize us to accept for deposit to the Account, money and items in the name(s) of or belonging to any one or more of the joint holders on your Account. You hereby charge and we are hereby authorized, to charge and set-off moneys in the joint Account to satisfy any debt owed to us by any one or more of the joint Account Holders. In the event that we receive a court order or other legal process which has the effect of charging or garnisheeing money standing to the credit of a joint Account, it is understood and agreed that we are obliged to comply with the order of the court.

Where an Account is a joint Account, each of the Account Holders has full power to act alone in all matters related to the Account. You also hereby authorize us to, and we shall not be held liable for, accepting deposits to the Account and/or for paying out, or refusing to effect payment of money from the Account, on the instructions of any one or some only of you during your lifetime or on the instructions of any survivor or survivors of the Account Holders or of the personal representative of the last surviving Account Holder.

Money held jointly in any Account may be withdrawn by any one joint holder or their properly constituted attorney or agent, and you hereby irrevocably authorize us to accept from time to time as a sufficient authority for any amounts so withdrawn, any receipt, cheque or other document signed by any one of the joint holders of your Account, or their attorney or agent, without further signature or consent.

36. Adult Account Holder required for accounts with Minor Account Holders

Sagicor Bank may, in its absolute discretion, allow an Account to be opened in the name of a Minor Account Holder and/or issue a Card to a Minor Account Holder provided an adult Account Holder who is the Minor Account Holder’s parent or legal guardian, or a person authorized by the Minor Account Holder’s parent or legal guardian is a joint Account Holder.

37. Indemnity by Adult Account Holders

AN ADULT ACCOUNT HOLDER SHALL BE LIABLE FOR ANY AND ALL TRANSACTIONS PERFORMED BY A MINOR ACCOUNT HOLDER ON ANY ACCOUNT IN RESPECT OF WHICH THEY ARE JOINT HOLDERS. AN ADULT ACCOUNT HOLDER SHALL ALSO BE LIABLE TO SAGICOR BANK FOR ALL LOSSES, DEFAULTS, CHARGES OR CLAIMS INCURRED BY THE SAGICOR BANK AS A RESULT OF ANY TRANSACTION CONDUCTED BY THE MINOR ACCOUNT HOLDER AND AGREES TO INDEMNIFY AND HOLD SAGICOR BANK HARMLESS FROM AND AGAINST ALL LIABILITIES, LOSSES, DEFAULTS, CHARGES OR CLAIMS WHATSOEVER WHICH THE SAGICOR BANK MAY SUFFER AS A CONSEQUENCE OF A TRANSACTION UNDERTAKEN BY THE MINOR ACCOUNT HOLDER.

38. Will I get statements for my account?

We will provide you with transaction statements in PDF format online and through the App so you can access and download your information at any time.

39. Statements and Verification

Unless you give instructions to the contrary, we will attempt to provide you with monthly statements in respect of each of your Accounts. You may also request an ad-hoc statement on our App. The fees and charges for the production and delivery of statements (where applicable) will be debited from your Account or, in the case of ad-hoc statements, may be paid at the time of making the request. YOU SPECIFICALLY AGREE THAT ALL STATEMENTS MAY BE MADE AVAILABLE OR DELIVERED IN ELECTRONIC FORM VIA OUR APP, INTERNET BANKING FACILITIES OR BY ELECTRONIC MAIL.

40.  Non-Receipt of Statements

If you have not received a statement, then you must notify Sagicor Bank and where necessary request a statement from our Client Experience Centre at 1 (246) 228-7225 or email at support@sagicor.bank to be sent to you via email. It is understood and agreed that you shall be deemed to have been received by on the day in which the statement is emailed to you.

41. Returned Statements

If we send statements to you, whether by electronic or ordinary mail but same are returned to us or we receive a report that such mail has not been delivered on two (2) or more consecutive occasions, then we may (but shall not be obliged) cease sending statements to you and all future statements addressed to you shall be treated as being held by us on your instruction.

42. Errors in Statements

You must notify us in writing of any alleged omissions or errors in your statements within thirty (30) days of the date of the statement. At the expiration of the aforesaid thirty (30) day period, the said statement shall be conclusive evidence against you that the statement is correct (except regarding any alleged errors, omissions, wrongful debits or inaccuracies notified as provided in this provision) and that the closing balance on the statement is correct and, subject to the notification exception above,  Sagicor Bank shall be entitled to rely upon the statement and you release Sagicor Bank from all claims which relate to the particular statement. You acknowledge and agree that the reconciliation and verification of all statements, other evidence of debit entries and/or vouchers (if any) relating to such statements must be carried out by you in a manner and within the time stipulated in this clause as the statements shall be conclusive evidence against you with respect to such entries or items or the closing balance in the statement where no notification of errors, omissions, wrongful debits or inaccuracies has been given by you as required.

43. Fees

When you complete the Sagicor Bank Account sign-up process, you acknowledge having received, read and agreed to these Terms and Conditions governing your Account(s) and the applicable Rates, Fees and Charges Sheet provided to you.

In addition, you can always refer to the Rates, Fees and Charges Sheet here Schedule of Charges Page | Sagicor.

44. Payments into My Account

You will have 24/7 access to your Account(s) and can transfer or add funds into your Account via the App or through Sagicor Bank Online. Funds paid through the App or Online will be credited to your Account. Funds sent through banking counterparties will usually be deposited same day but this is dependent on the processing times of that financial institution.

Note that you can transfer, pay or receive funds into your Account in Barbados dollars and any other currencies determined by us from time to time.

The currency options available for receiving payment will always be available on your Sagicor Bank App or Sagicor Bank Online. If you do receive a payment not in the same currency denominations as your Account, we may charge you a fee and/or apply an exchange rate to receive that payment. More details and guidance on foreign currency and exchange rates are found sagicor.bank/support-centre/exchange-rates.html.

45. Payments Out of My Account

A payment will be processed only if your Sagicor Bank Account(s) has enough funds to cover the payment or transfer requested.

We encourage you to set up new payees in the Sagicor Bank App or via your Sagicor Bank Online but be sure to double-check that the information is complete and accurate. This prevents us from being unable to process your payment to the payee or the funds being sent to an incorrect recipient. Be aware that if the error in processing the payment or transfer is due to incorrect or incomplete instructions, we will not be liable for any losses suffered.

Payment out of your Account from another User will be immediately processed but may be subject to any limits on your Account. Please note that where there is an issue in processing a payment and transfer an Alert will be sent to you on your App and/or to the email linked to your Account.

Funds sent through banking counterparties will usually be deposited same day, but this is dependent on the processing times of that financial institution.

46. Withdrawals

You may withdraw funds from your Account(s) using any ATMs in Barbados and abroad. Keep in mind that daily limits and charges shall apply in accordance with your specific account terms. Please see the Rates, Fees and Charges Sheet here Schedule of Charges Page | Sagicor for further details.

47. Foreign Currency Accounts

If your Account with us is a foreign currency Account, we can use any third party to act as your agent for any instruction, funds transfer or other transactions for your Account. We are not liable for any act, failure to act or omission of any third party or for any loss, destruction or delay beyond our reasonable control.

48. Error Payments

If you realize that you have made a payment or transaction by mistake (e.g., incorrect payee details) please contact us immediately and we will try to assist you as much as possible, but we will not be liable for any loss you suffer.

If we have made a payment into your Account(s) in error, we will deduct the exact amount without requesting your permission but will inform you of the error and the steps we have taken to correct it.

49. Transaction Fraud

You have a responsibility to manage your Account, products and services by using options on the Sagicor Bank App or Sagicor Bank Online to receive Alerts at any time on transactions on your Account with us. If you suspect a fraudulent or unauthorized payment or transactions have been made using your Account, you can use the block option on your Sagicor Bank App or Sagicor Bank Online to block the Account or Card or you may contact us immediately and we will try to assist you as much as possible at 1 (246) 228-7225 or via email at support@sagicor.bank.

If you believe you have lost money as a result of a fraudulent and unauthorised payment or transaction or other criminal activity on your Account(s), we may ask you to provide more information for us to assess how the losses have arisen and who is responsible. If we ask you for such information, you must provide it as soon as possible in all circumstances.

50. Refund Rights for Payments

You can ask us to refund an amount taken from your Account(s) if you satisfy the following conditions:

• you agreed a payment could be taken, but did not specify the actual amount;
• the payment amount taken was higher than you reasonably expected it to be and we agree that the amount was more than could be reasonably expected, taking into account your previous spending pattern, the Agreement and any other relevant circumstances; and
• you ask us to make the refund within thirty (30) days of the payment being taken from your Account(s).

We may ask you for more information to investigate a request. Once all information is received, we will either provide you a refund or tell you we cannot provide a refund.

51. How do I close my Account?

You are free to close your Account(s) with us at any time and that will signal the end of your agreement with us. You can let us know your decision by emailing us at support@sagicor.bank.

Keep in mind that you will be required to settle any outstanding charges you have with us, including any cancellation fees that apply.

Once you have decided to close your Account(s) with us, you are expected to withdraw all your money in your Account(s) in the usual ways within thirty (30) days of your notice.  After that time, you will no longer have the ability to deposit, withdraw, transfer or carry out any other transactions from your Account(s). If you have any other Transaction request following your Account(s) closure, you will need to email us support@sagicor.bank  directly to set up a manual Transaction for you.

You must not delete the Sagicor Bank App from your phone until all of your Account(s) have been closed and any remaining funds have been returned to you.

52. If I have a Complaint, what do I do?

Complaints may be addressed to Sagicor Bank’s Client Experience Centre at 1 (246) 228-7225 or via email at support@sagicor.bank.

53. Debit Card Terms and Conditions

Your Debit Card may be a physical or virtual Debit Card. Once you request a Debit Card in the Sagicor Bank App, the delivery of your physical Debit Card will be at your address provided on the Sagicor Bank App. We will ensure that the same is received in a sealed envelope. We are not liable for any loss or damage which you may suffer if you fail to receive the Debit Card.

The Debit Card shall be valid only for Transaction options, as permitted by Sagicor Bank from time to time in Barbados and abroad, or at Sagicor Bank ATMs, ATMs of other banks, which are members of the MasterCard/Visa ATM network and MasterCard/Visa Point-of-Sale swipe terminals at merchant establishments.

The Debit Card is not transferrable or assignable by you under any circumstance. You must sign the Debit Card immediately upon receipt. You must not permit any other person to use it and should safeguard the Debit Card from misuse by retaining the Debit Card under your personal control at all time.

54. Card Activation

To activate your Debit Card, you will have to generate a Card PIN. Please see this link for further details on activation of your Debit Card:- Getting Started | Sagicor. This Card PIN will enable access to your Debit Card at ATMs and POS. For security reasons, Debit Card is delivered as ‘inactive' for usage across channels. You should activate your Debit Card within the required number of days as indicated here:- Getting Started | Sagicor of receipt of your Debit Card, failing which Sagicor Bank may block your Deposit Account disallowing debit and credit Transactions. You acknowledge and agree that you cannot perform any Transaction in the Deposit Account until you activate your Debit Card.

The Card PIN issued to you with the Debit Card, should be known only to you and are for your personal use and are non-transferable and strictly confidential. A written record of the Card PIN should not be kept in any form, place or manner that may facilitate its use by a third party. The Card PIN should not be disclosed to any third party, either to staff of Sagicor Bank or to Merchant establishments, under any circumstance or by any means whether voluntary or otherwise. Sagicor Bank shall issue the Card PIN to you and you are under obligation to keep the same strictly confidential.

If you hold a Debit Card on your Savings Account, you will be allowed to withdraw cash subject to the availability of balance in your Account up to the ATM Limit or the limit on your Debit Card. You must not use or attempt to use your Debit Card to effect any cash withdrawal or any other transactions if the ATM Limit or available balance will be exceeded. The onus of ensuring adequate balances in your Savings Account is entirely on you. The limits on cash withdrawal at ATMs and for purchase of goods and services are assigned to you based on your card type.

The limits for Sagicor Bank Online, POS and contactless will be a cumulative limit and not an individual limit. The transaction limits (within the overall card limit) for all types of transactions can be set or modified using your Sagicor Bank App.

The Debit Card by default will have the contactless option.

55. International Spending Limit

You can use your Debit Card outside Barbados. The limits on cash withdrawal at ATMs and for purchase of goods and services are assigned to you based on your Debit Card type. The limits for Online, POS and contactless will be a cumulative limit and not an individual limit. The international Transaction limits (within the overall card limit) for all types of transactions can be set or modified by Sagicor Bank.

56. Charges Not to Exceed Spending Limit

You may perform a Debit Card Transaction only if there are sufficient funds in your Sagicor Bank Wallet or Account to cover such transactions and the total charges incurred will not exceed the Spending Limit. You will not effect or attempt to perform any Debit Card Transaction that will result in your Spending Limit being exceeded. We may also refuse to authorize any transaction that you wish to effect even if such transaction will not cause your Spending Limit to be exceeded.

57. Duty to Notify Us

You must notify us immediately if (a) the Debit Card is used by any other person or (b) any other event occurs which will, under these Terms and Conditions, allow us to suspend or cancel the use of Debit Card or the Electronic Services. In these events, you can log onto the Sagicor Bank App to lock your Debit Card immediately.  It is your responsibility to keep Alerts turned on for Debit Cards so that you can see unusual activity in your Debit Card and lock your Debit Card and contact us immediately at 1 (246) 228-7225 or via email at support@sagicor.bank.  You may notify us of the loss or theft of mobile or unauthorized use by contacting our Client Experience Centre at 1 (246) 228-7225 or via email at support@sagicor.bank.  

58. Usage Guidelines

Your Debit Card is versatile while remaining easy to use. It works similar to a credit card while making purchase transactions at Merchants, the noteworthy difference is that the Transaction amount will be debited directly from your Account with Sagicor Bank. Your Debit Card will also be your ATM Card which saves you the need of carrying a separate ATM Card. You can also use the card for ATM and POS transactions outside Barbados.  In the event of a technical breakdown of the payment system (such as ATM Machines, POS Machines, etc.) if the breakdown of the system was displayed for you by a message on the device, you shall not use the Debit Card after such display or message and Sagicor Bank shall not be responsible for any consequent loss.

59. Your responsibilities with the Debit Card

You acknowledge, represent and warrant that the Card PIN selected by you provides access to your Deposit Account and that you accept the sole responsibility for use, confidentiality and protection of the Card PIN, as well as for all orders, information and charges entered into the Deposit Account(s) using such Card PIN. You will at all times take all appropriate steps as mentioned herein to maintain the security of the Card PIN.

Sagicor Bank may, following the occurrence of any event (lost or stolen Debit Card) or otherwise in its absolute discretion issue a new Card PIN on the existing Debit Card and charge a replacement fee. Subject to the Central Bank of Barbados guidelines and internal policy of the Sagicor Bank with regard to unauthorized electronic transactions, you will not hold Sagicor Bank liable in case of any improper, fraudulent, unauthorized, duplicate, erroneous use of the Debit Card and/or the Card PIN. Sagicor Bank will also not be liable for any consequences connected with the use or misuse of the Sagicor Debit Card by any third party due to the Debit Card falling in the hands of any third party or the Card PIN coming to the knowledge of any third party. If any third parties gain access to the services, including the Deposit Account, due to your negligence you will be responsible and will indemnify Sagicor Bank against any liability, costs or damages arising out of such misuse or use by third parties based upon or relating to such access and use or otherwise.

60. Debit Card use at the ATM

You can use your Debit Card at a regular ATM Card to withdraw cash and undertake other transactions at any Sagicor Bank or ATM, displaying the MasterCard/VISA logo in Barbados and overseas. MasterCard/VISA has a vast network of ATMs in Barbados and worldwide, enabling convenient 24-hour access to any of the accounts linked to your Sagicor Bank Debit Card.

Subject to availability of balance in your Account, a per day cash withdrawal limit through the ATM will be determined by the Sagicor Bank from time to time and will be available in the Sagicor Bank App for reference.

In case you are unable to withdraw cash from any MasterCard/VISA ATM, try keying in a lower amount (as some ATMs have a cash disbursement limit) or try after a few minutes (as the network server may be down).

No charges shall be levied for a failed transaction, if it is failed due to any technical reason like hardware, software, communication issues; non-availability of currency notes in the ATM; and other declines ascribable directly, wholly to us, service provider (appointed by us); invalid Card PIN, validations. All such failed Transactions shall not be counted as valid ATM Transactions. Non-cash withdrawal Transactions (such as balance enquiry, funds transfer, etc.), which constitute ‘on-us’ transactions (i.e., when a Debit Card is used at an ATM of the Sagicor Bank which has issued the Debit Card) shall also not be part of the number of free ATM transactions.

61. At Sagicor Bank ATMs

At any Sagicor Bank ATM in Barbados you can (assuming you have a Deposit Account linked to your Debit Card). A list of capabilities at our ATM may be found at this link:- Getting Started | Sagicor and include, (which capabilities may change over time and updated on the link):

• Complete a cash withdrawal from your Deposit Account.
• Check the account balance of your Deposit Account.
• Get a mini-Account statement.
• Make a cash deposit to the Deposit Account.
• Transfer funds between accounts linked to your Debit Card maintained with the Sagicor Bank.
• Presently, all Transactions at Sagicor Bank ATMs in Barbados are complimentary within Sagicor Bank ATM network.

Note: Please note that funds transfers to persons outside Barbados are not permitted on Sagicor Bank ATMs.

62. Limitation of Liability:

Sagicor Bank will not be responsible for any loss, charges or damages incurred resulting from your sharing your Debit Card, information and Card PIN with unauthorized persons; any unavailability at any time of ATM services due to any operational failure of electronic or mechanical equipment or other interconnection problem; or any circumstances over which we have no direct control including any acts of God.

63. Debit Card features: Point of Sale (POS) Transactions

Using your Debit Card for shopping at any of the MasterCard/VISA merchant outlets in Barbados and worldwide could not be easier. Follow these simple, convenient steps to make your shopping experience truly enjoyable.

• Look for a Tap to Pay sign “  “ at the Point-of-Sale Merchant establishment. The Merchant must have an Electronic Point-of-Sale card swiping terminal or Tap to Pay enabled terminal.
• Tap and Pay limits may be found at:- sagicor.bank/support-centre/tap-pay-limits.html.
• Present your Debit Card after making your purchase.
• The Debit Card will be swiped by the Merchant on a MasterCard/VISA electronic data capture terminal for authorization. In case of the Tap to Pay transaction, the Debit Card will be held or waived by the User close to Merchant Tap to Pay enabled reader or terminal.
• In case of Tap to Pay Debit Card transactions up to certain limits (which may be found at sagicor.bank/support-centre/transaction-limits.html) or such amounts as may be permitted, made on Tap to Pay enabled terminals, you will not require any PIN for authorization. In case of any other POS transactions, you need to enter your Card PIN for authorization.
• You may use your Debit Card to effect any number of card transactions on Tap to Pay readers provided that the value of each Tap to Pay transaction does not exceed such amount as may be determined by us from time to time at our sole and absolute discretion without notice to you.
• After a successful authorization, a hold for the transacted amount will first be placed on your Deposit Account. Your Deposit Account will subsequently be debited for the transacted amount.
• A sales slip will be generated. Check the sales slip, and sign the sales slip if required by the Merchant. You must sign the sales slip where required and retain your copy of the sales slip whenever the Debit Card is used at Merchant establishments on POS terminals. We will not furnish copies of the sales slip. Any sales slip not personally signed by you but which can be proven, as being authorized by you, will be deemed to be your liability.
• Ensure your Debit Card is returned to you.
• Preserve your copy of the sales slip for future reference. There may be POS Merchants where the receipt may be emailed to you.
• Alerts will be automatically generated and sent to you upon purchase in the Sagicor Bank App once you have your wifi or data on.
• Subject to availability of balance in your Deposit Account, a per day limit of such amount as may be determined by the Sagicor Bank from time to time, will be set for usage of your Debit Card at merchant outlets. When the Debit Card is used at a Merchant establishment, the purchase amount will always be debited from the Deposit Account.

Do note that since signature or Card PIN verification is required for Debit Card Transactions, you need to be physically present along with your Debit Card at the time of purchase. Debit Card cannot be used for mail order and telephone order transactions.

We will not accept any responsibility for any dealings the Merchant may have with you, including but not limited to the supply of goods and services so availed or offered. Should you have any complaint relating to any MasterCard/VISA supported Card Merchant, you will resolve the matter with the Merchant and failure to do so will not relieve you from any obligations to us. If you decide to cancel your purchase and not accept the goods after the Debit Card is swiped, ensure that the Merchant cancels the Transaction immediately and the cancellation slip is handed over to you. Any cancellation thereafter will be routed as a 'chargeback' on the Merchant through the acquiring Sagicor Bank and will take the time required to complete the process. There can be no guarantee of full or partial return of the amount.

We accept no responsibility for any charges levied by any Merchant establishment over and above the value or cost of transactions and debited to your Account along with the transaction amount. A purchase and a subsequent credit for cancellation of goods or services are two separate transactions. The refund will only be credited to your Account (less cancellation charges) as and when it is received from the Merchant. If the credit is not posted to your Account within thirty (30) days from the date of cancellation, you must notify us, along with a copy of the cancellation slip from the Merchant.

Debit Cards should not be used for any mail order or phone purchases and any such usage will be considered as unauthorized and you will be liable for all costs and consequences arising or relating thereto.

64. International Usage

Your Debit Card is accepted at Sagicor Bank ATMs and at MasterCard/VISA ATMs in Barbados and abroad. Please Note: In case of international cash withdrawal transactions, the applicable exchange rates and fees will be levied.

At the time of cash withdrawal at MasterCard/VISA ATMs while abroad the screen will display two (2) options for account selection - 1) Savings 2) Credit.

At a few Merchant establishments abroad (especially in the United States of America), you may have to ask the cashier to swipe your Debit Card as a credit card. This is because in some countries "Debit" is connected only to the local network and the transaction may be declined, as it will not reach the MasterCard/VISA network. Your Debit Card will continue to function as a Debit Card.

65. Taking Care of Your Debit Card

Following these simple guidelines will ensure that using your Debit Card is a pleasant experience:

• Treat your Debit Card in the same way you treat cash. Keep it with you at all times and never leave it unattended.
• Your Debit Card is for your exclusive use only. It should never be surrendered to anyone other than a designated Sagicor Bank officer at a Sagicor Bank branch and only after cutting it into several pieces through the magnetic strip.
• Never reveal or surrender your Card PIN to anyone. Please destroy all evidence of the Card PIN after memorizing it. Do not write it on the Debit Card and never keep a written copy of it in close proximity to your Debit Card. We recommend that you change the Card PIN to a number of your choice as soon as possible and thereafter at regular intervals. Please note that your Card PIN can be changed on the Sagicor Bank App as well as at a Sagicor Bank ATM.
• We will never contact you for your Card PIN.
• The Debit Card is to be used solely by you and must not be transferred or pledged as security in any way.

66. Lost or Stolen Debit Card

In case your Debit Card is lost or stolen or if you suspect that your Debit Card has been used fraudulently, as a first measure – block the Debit Card in the Sagicor Bank App. In case you cannot access the Sagicor Bank App, call the Client Experience Centre at 1 (246) 228-7225 or send us an email at support@sagicor.bank  (and while travelling outside Barbados, immediately to report the loss).

In case you need your Debit Card to be reissued or terminated, kindly log in to the Sagicor Bank App for blocking or requesting reissuance of your Debit Card.

A replacement of your Debit Card will be provided to you within indicated timelines and at applicable tariffs. Upon the expiry of your Debit Card or closure of your Debit Account, please cut your Debit Card into several pieces through the magnetic strip. Always ensure that the Debit Card is used in your presence when transacting at Merchants. Never sign an incomplete charge slip.

Please do not leave your Debit Card on a television or on any other electronic device which has continuous magnetic field.

You will have to log in to the Sagicor Bank App for reissuance of your Debit Card or call the Client Experience Centre at 1 (246) 228-7225 or send us an email at support@sagicor.bank.

If you recover the lost or stolen Debit Card, you must immediately return the said Debit Card to us cut in half through the magnetic strip without using it.

67. Replacement of Pin

Following the occurrence of any lost or stolen Debit Card, you may request a new Debit Card and generate a new Card PIN on the Sagicor Bank App. We reserve the right to charge a replacement fee as applicable in case of re-issuance of Debit Card from time to time. Please refer to our Rates, Fees and Charges page on our website for applicable charges.

68. Use of Debit Card Outside Barbados

Transactions in foreign currency will be converted to Barbadian dollars on the date of conversion based on the rates decided by the Sagicor Bank. The rate used for conversion may be different from the rate in effect on the date of the Transaction due to market fluctuation. All Transactions in foreign currency are subject to a charge imposed by the MasterCard/VISA association, either as a reimbursement charge representing the charge imposed on us or as a direct charge to you. An administrative fee as applicable at the time of charging of the foreign currency transaction amount for services provided or actions taken by us in relation to such foreign currency transactions will be payable by you and debited to your Savings. We show in the App the US value and BBD value.

Applicable taxes may apply to the Debit Card which will be shown separately on your statements.

69. Hold on Debit Card Account

We may set aside or place a hold on your funds in our Account in respect of any Transaction on the day such Transaction is presented to us for payment or on the day we receive notice of such Transaction. Such an amount set aside or held is only an estimated sum of the actual Transaction and may not be identical to the actual Transaction. Should we set aside or hold any amount, the available balance in your funds in your Account will be reduced by such amounts that we set aside. You may not stop payment on such Transactions nor use any sum set aside or held by us. Where applicable, we may set aside or hold such sums for up to ten (10) days after which we will debit your funds in your Account for the full amount of the actual transaction.

70. Charges and Fees

Please refer to the Rates, Fees and Charges Sheet as available on Schedule of Charges Page | Sagicor for details of existing charges, as may be applicable. We may debit your Deposit Account with a fee for each cash withdrawal transaction or balance inquiry, if applicable at the time of posting the cash withdrawal. We may choose to waive such fees or change it with prior notice to you.

The annual fees, if any, for the Debit Card will be debited from Account linked to the Debit Card on application or renewal at the Sagicor Bank's prevailing rate. These fees are non-refundable.

The Sagicor Bank reserves the right at any time to charge you for the issue or reissue of a Debit Card.

Any government charges, duty or debits, or tax payable as a result of the use of the Debit Card will be your responsibility and if imposed upon Sagicor Bank (either directly or indirectly) or in respect of any amount required to be paid under this Agreement, we will debit such charges, duty or tax from your Account.

70.1 Other Charges

In addition to the above, we may also debit your Account and/or any Account you maintain with us where applicable for the following charges including but not limited to:

• Administrative fees for production of documents, for any replacement of Debit Card or documents relating to your Debit Card.
• Service charge or administration fees for any action taken by us in carrying out any of your instructions and/or requests relating to your Account, whether such service or action is referred to or contemplated in these Terms and Conditions or otherwise.
• Charges, fees, withdrawals and payments for the provision and/or use (authorized or unauthorized) of Electronic Services and any other liabilities to, and loss suffered by, us as a result of the provision and/or use of Electronic Services.
• In addition, operators of shared networks may impose an additional charge for each use of their ATM/POS Terminal or other device, and any such charge along with other Applicable fees or charges will be deducted from the Account. There may be separate service charges levied for such facilities as may be announced by the Sagicor Bank from time to time and deducted from the Account.
• You also authorize the Sagicor Bank to deduct from your Account, and you agree to indemnify the Sagicor Bank against any expenses it may incur in collecting money owed to it by you in connection with the Debit Card (including without limitation reasonable legal fees). In addition to the minimum balance stipulation, we may levy service and other charges for use of the Debit Card, which will be notified to you from time to time.
• In the case of Transactions entered into by you outside Barbados through the Debit Card, the equivalent in the currency in which the Debit Card holder's Account is held, along with processing charges, conversion charges, fees if any charged as per MasterCard/VISA regulations, any other service charges for such transactions will be debited to the Account held with us in Barbados.

70.2 Right to Vary Charges

We may at our discretion vary the rate or amount of any charge, fee or overdraft rate payable under this Agreement by prior communication to you. A period will be specified after which you will be deemed to have accepted the change and the revised charges or fees will become applicable. Details of the applicable fees and charges as stipulated by the Sagicor Bank will be displayed on the Website and/or at the branches. Please refer to the Rates, Fees and Charges page on the Website for details on the tariffs applicable.

70.3 Levy and Recovery of Charges

We reserve the right to charge and recover from you, service charges for providing and utilizing the Debit Card. You hereby authorize us to recover the service charges by debiting the Account or any other account/s you may hold. Your failure to do so will result in recovery of the service charges by us in a manner that we may deem fit along with applicable interest, and/or suspension of Debit Card, without any liability to the Sagicor Bank.

71. Termination of Use of Debit Card and Account

71.1 Our Right to Terminate

We may suspend or terminate your Debit Card or Account or your usage of Electronic Services at any time with or without having to give any reasons or notice. Upon termination, you will not use or attempt to use the Debit Card. Once you are aware that your Debit Card or Account has been terminated, any such use after will be fraudulent. If the use of the Debit Card is terminated by us for any reason, you return the Debit Card to us cut in half through the magnetic strip. There will be no refund of any fees payable upon the termination of the Debit Card for any reason.

71.2 Your Right to Terminate

You may terminate your Debit Card or your use of Electronic Services at any time by giving us written notice and returning to us the Debit Card cut in half through the magnetic strip. You may also terminate this Agreement by giving us written notice and (if applicable) surrendering/disabling the Debit Card, as the case may be. Upon termination, you will not use or attempt to use the Card PIN and/or Debit Card. Any such use will be considered fraudulent.

71.3 Obligations Upon Termination

Upon the termination of your Account for whatever reason, you will not continue to use your Debit Card. Your obligations under this Agreement will continue and we will remain entitled to debit the Account you maintain with us for any Transactions that are carried out before or after the termination of your Account. Until such transactions and any overdraft charges that may be imposed are paid in full, you (and any other person, if any, in whose name the Account is maintained) will remain liable to us.

72.Liability of Debit Card Member

You will be liable for, and will pay, us, on demand, the balance due to us on your Account, including all charges debited to your Account in accordance with this Agreement or any other agreement between you (whether alone or jointly with any other person or persons) and us.

73. Exclusions and Exceptions

Non-Acceptance of Debit Card.  We are not liable in any way:

• Should your Debit Card(s) or Card PIN(s) be rejected by a Merchant or any terminal used to process Debit Card Transactions or if we refuse for any reason to authorize any Debit Card Transaction;
• For any malfunction, defect or error in any terminal used to process Debit Card transactions, or other machines or system of authorization whether operated by us or other persons;
• For any delay or inability on our part to perform any of our obligations under this Agreement or otherwise if such delay or inability arises from a failure of, or any unauthorized and/or unlawful access to any machine, data processing system, transmission link or arising from any electronic, mechanical system, data processing or telecommunication defect or failure, power and electricity failure, act of God, civil disturbance, war or warlike hostilities, civil commotions, riots, blockades, embargoes, sabotage, strikes, lockouts, fire, flood, shortage of material or labour, delay in deliveries from sub-contractors or any event outside our control or the control of any of our agents or contractors or any fraud or forgery or;
• For any damage to or loss or inability to retrieve any data or information that may be stored in your Debit Card or any microchip or circuit or device in your Debit Card;
• For our compliance with any instruction given or purported to be given by you relating to Electronic Services, notwithstanding that the integrity of the information comprised in such instruction may have been compromised or impaired during transmission, provided that such compromise or impairment will not have been Apparent to a reasonable person receiving such instruction;
• If you are deprived of the use of any Electronic Services as a consequence of any action by us and/or any Participant; or
• Any Electronic Service not being available due to system maintenance or breakdown/non availability of any network; or
• For any equipment or software providers, any service provider, any network providers (including but not limited to telecommunications providers, Internet browser providers and Internet access providers), any Participant, or any agent or subcontractor of any of the foregoing.
• In any event, we are not liable for anything done or omitted to be done except in the case of our gross negligence or willful default.

74.  Problems with Goods and Services

We are not liable in any way should you encounter any problems with the goods and services that you obtain through the use of your Debit Card or Electronic Services nor are we responsible for any benefits, discounts or programs of any merchant that we make available to you. Notwithstanding the non-delivery or non-performance or defects in any such goods and services, we will be entitled to debit your Account you maintain with us for the full amount pursuant to that Debit Card Transaction. You will settle any dispute directly with the provider of the goods and services.

75. No Liability for Consequential Loss

Neither we nor any Participant will be responsible in any way for any direct, indirect, special or consequential, economic or other damages arising in any way from the provision and/or use of Electronic Services or your usage of the Debit Card.

76. Conclusiveness of Documents and Certificates

Any of our records relating to Debit Card Transactions with your signature or authorized by your Card PIN are conclusive evidence of their accuracy and authenticity and will be binding on you for all purposes. You will also notify us if you discover any errors or inaccuracies in any Savings account statement. Unless disputed by you within 14 (fourteen) days of the electronic statement being made available for download, the same will be deemed to be correct.

77. Parties to Whom Disclosure May Be Made

You authorize us to disclose any particulars of your Account(s) and/or your use of the Debit Card to:

• Any person or organization participating in the provision of electronic or, without limitation, other services in connection with banking services or usage or loyalty benefits made available or utilized by you, whether in Barbados or outside Barbados for the purpose of the operation of the said services, including but not limited to investigating discrepancies, errors or claims;
• Credit or charge card companies or merchants in credit or charge card enquiries; outsourced agents appointed by us for the purpose of making printing, mailing, storing microfilming and/or filing personalized cheques, statements of Savings, Debit Card, labels, mailers or any other documents or items on which your name and/or other particulars Appear, or any data or records or any documents whatsoever
• Any information garnering or processing organization or department or consultant conducting survey(s) or analyses or developing system applications on our behalf;
• Any person or organization for the purpose of marketing or promoting any services or products whether our own or tied up by us;
• Visa International, MasterCard International;
• Any of our related corporations for risk management purposes, for monitoring credit exposures across the Sagicor Bank Group to you and for cross-selling purposes. " Sagicor Bank Group" means any of our subsidiaries, our holding company and any subsidiaries of our holding company;
• Any government agency or authority or courts of the jurisdiction where any of our overseas branches are situated;
• Any person or organization for the purpose of collecting or recovering on our behalf, or securing for your benefit or repaying on your behalf, any sums of money owed to us by you;
• Any Participant or third party which has a legitimate business purpose for obtaining such information, including offering your products or services in connection with or to facilitate the use of Electronic Services; to any person using the Electronic Services purporting to be you; where such disclosure is necessary to complete any Transaction.

78. Acknowledgment

You acknowledge that to ensure your interest, we may record on camera or on videotape at the ATM, at our own discretion the access to and the presence of any person while availing the use of the Debit Card. All records maintained by us, in electronic or documentary form of the instructions from you and such other details (including but not limited to payments made or received), and all camera or video recordings made as mentioned above will as against you, be deemed to be conclusive evidence of such instructions and such other details.

79. No Liability for Disclosure Permitted Under Terms and Conditions

We will not be liable for any loss or damage suffered by you or as a result of any disclosure of any information which you have consented to us and/or any of our officials disclosing.

80. Provision of Information

You will provide us with any information or documentation that we may reasonably request relating to your use of Debit Card or the Electronic Services and will cooperate with us in any related investigation or litigation. If the information is not provided or if information provided is incorrect, we may at our discretion refuse renewal or reissuance of Debit Card or cancel the Debit Card forthwith.

81. Consent Clause

You hereby expressly authorize Sagicor Bank to disclose at any time and for any purpose any information whatsoever relating to particulars, Account, deposit, transactions, or dealings with the Sagicor Bank, to any court of competent jurisdiction, quasi judiciary authority, law enforcement agency, relevant wing of government,  Income tax authorities, statutory authorities, financial institutions, credit bureaus or agents or vendors or any company which is an affiliate or associate or subsidiary or a group company of the Sagicor Bank.

82. Communication and Service of Documents

We may send Debit Card related notices, Account statements or any other communication to you by in-App messages, short message system (SMS) or via electronic mail. Communication and notices sent by in-App messages or SMS or email will be considered to have been sent and received by you on the same day irrespective of carrier delays. As of now, communication will be available within the Sagicor Bank App to which Debit Card is linked.

Sagicor Bank offers a couple Term Deposits, cashable and fixed, both in Barbados Dollars. Different rates and payment frequencies are available for you to choose from. Please see Rates, Fees and Charges at this link: Schedule of Charges Page | Sagicor to see our options.

83. Account Set Up

As an Account Holder, you may apply for a Term Deposit through the App by adding the Term Deposit you choose. We reserve the right to accept or reject any application of a Term Deposit.

At the time of the Term Deposit being set up, we will provide you with the interest rate for your requested Term Deposit, its term and deposit amount (and where applicable, the interest payment frequency). Upon accepting these Terms and Conditions and subject to its contents, we will open a Term Deposit with these agreed Terms and Conditions. You will be notified of the Term Deposit set up and will confirm the commencement date in that notification.

84. Making Deposits

You must add the agreed-to fund amount to your Term Deposit within immediately of the commencement date. After this, you will not be allowed to make further deposits.

85. Right to Cancel

You will have the right to cancel the Term Deposit as provided below:

• If the Term Deposit broken under six (6) months, you will forgo 100% of interest accrued up to the point of cancellation of the Term Deposit. 
• If the Term Deposit is broken between six (6) months to one (1) year, you will forgo 75% of the interest accrued up to the point of cancellation of the Term Deposit.         
• If the Term Deposit is broken between one (1) year and six (6) months, you will forgo 50% of the interest accrued up to the point of cancellation of the Term Deposit.  

We return the deposited amount to you to your local Sagicor Bank Account of your choice. After deposited into your Sagicor Bank Account, any subsequent transfer to another financial institution will be at your expense as regarding any fees or charges.

For joint Accounts, we will require a cancellation request from either of the Account Holders. Both must be Account Holders of Sagicor Bank. For joint Account operations, refer to section 33 in these Terms and Conditions.

 Interest payments

Interest on your Term Deposit will be calculated daily and credited or paid as follows:

(i) Cashable Term Amount Term Rate: 

• $2,500-50,000            0-3months      0.30%  
• $50,001-100,000       0-6months       0.35%  
• 100,001-250,000       0-9months       0.40%  
• 250,001-500,000       0-12months     0.45% 

(ii) for a Fixed Term Deposit with a term that is less than one year, we will pay the interest at the maturity of that term.

(ii) for a Term Deposit with a term of one year or more, you may choose to have interest paid or credited into a nominated Sagicor Bank Account at intervals as follows:

• at the maturity of each term, it will be paid into the Sagicor Bank Account from where it was funded. A new Term Deposit is opened at the end of the term.

87. Maturity

When your Term Deposit term ends (known as maturity), you need to decide whether you want to invest your existing Term Deposit for a new term or close your Account. You can provide your maturity instructions at any time through Sagicor Bank App by the click of a button to renew or Sagicor Bank Online.

88. Premature Closure

Sagicor Bank allows withdrawal of Term Deposit prior to the date of its maturity. The interest on prematurely withdrawn Term Deposit will be paid for the period that such Term Deposit is held, at the rate prevailing on the contracted rate, whichever is lower, subject to a deduction of a scalable penalty as indicated herein above at section 82. This penalty is not applicable in cases where premature withdrawal of Term Deposit is because of Your death. Any recovery of interest already paid shall be adjusted from the proceeds of such Term Deposit.

In the event of Your death, premature termination of Term Deposit will be allowed subject to the following conditions:

• Compliance of applicable Central Bank of Barbados guidelines;
• The threshold amount eligible for such requests will be as per the policy of Sagicor Bank applicable at the time of premature termination;
• Satisfaction with the eligibility of the claimant's/nominee(s) as per the criteria set by Central Bank of Barbados.

89. Fees

There are no fees or charges payable on Term Deposits. No fees would be incurred on your chosen Sagicor Bank Account when transferring money between it and your Sagicor Bank’s Term Deposit. Fees and charges however may be applicable when you transfer money out of Sagicor Bank. To find out whether any such fees apply, talk to the financial institution where your chosen bank account is held.

Part 5 Loan and Credit Facilities

90. Loan Terms and Conditions

These Terms and Conditions as varied from time to time constitute the Agreement between the Account Holder and Sagicor Bank with regard to a Loan disbursed through the Sagicor Bank App or Sagicor Bank Online.

Account Holders will have the ability to apply for a Loan with Sagicor Bank via the Sagicor Bank App. By you completing a Loan Application via the Sagicor Bank App, you shall be deemed to have read, understood and agreed to be bound by these Terms and Conditions.

You are hereby further confirming that you have considered the charges and interest levied by us as specified below and fully understands that failure to settle the Loan on the due date shall result in a penalty fee. Please refer to the information for our penalty fees on Loans.

Your Loan will be governed by the Specific Terms and Conditions of your Loan Contract. Where there is a conflict between the terms and conditions of your Loan Contract and these Terms and Conditions, the Specific Terms and Conditions of your Loan Contract will prevail to the extent of any such conflict or inconsistencies.

91. Deposit of Loan Funds

The Loan shall be available to you, the borrower, only after the application is approved by the Sagicor Bank. For personal and construction Loans, we will provide the funds agreed to in your Loan Contract by direct transfer into the account you have chosen. The Loan shall be disbursed in BBD into the required account, which, depending on the type of Loan, may be your Account or the account of the vendor or the vendor’s Attorney-at-Law. For other types of Loans e.g. mortgages, the monies would be deposited to the account of Sagicor Bank's Attorney-at-Law for onward disbursement where applicable to the vendor or vendor’s Attorney-at-Law, at which time the title deeds are handed to Sagicor Bank's Attorney-at-Law.

92. Charges and Interest

The following charges shall apply and may from time to time be subject to change without notice within the full extent permitted or demanded by law:- Schedule of Charges Page | Sagicor.

93. Loan Repayment

To successfully ensure the full repayment of your Loan with us, you will need to:

1. Repay the Loan by making the repayments set out in your Loan offer and or Loan Contract by their due date (including interest rates as outlined in Schedule of Charges Page | Sagicor).
2. Pay all fees and charges as outlined in your Loan Contract or otherwise imposed by us under these Loan Terms and Conditions; and
3. Pay all other amounts that these Terms and Conditions require you to pay, including any reasonable enforcement expenses we reasonably incur.

When your specific Loan Contract comes to an end, you will be required to pay the balance plus any amounts charged, incurred or payable but not yet debited to your Loan Account when the specific Loan Contract has ended, as well as any reasonable enforcement expenses that you reasonably incurred (you must pay those expenses on demand).

A payment will be considered made by you when we have credited the appropriate Account. The principal and interest of the Loan shall be repaid in instalments on periodic basis (the “Instalment”) on terms according to your specific Loan offer and or Loan Contract by way of debiting your Account until the Loan is repaid in full.

94. Insurance

You have the option of applying for creditor protection insurance on all Loans except overdraft protection. Any creditor protection insurance only applies to the product for which it was designed.  You may purchase any insurance required by these Terms and Conditions from an insurance company lawfully licensed or through an agent of your choice. You also agree not to assign the insurance policy or its proceeds to any other person.

95. Breach Of Conditions

In the event of any breach by you of any of these Terms and Conditions, in circumstances where you have failed to comply or procure compliance with the terms of a notice served by Sagicor Bank on you, we will require immediate repayment in full of the outstanding balance of your Loan. Such breaches include:

• Non-payment: you fail to make a payment or any part of a payment on time; for example, failure to pay any component of your mortgage loan payment can result in Default, which can include but is not limited to (where applicable): property insurance premium payment, property tax payment, add-on charge repayment plans, credit protection insurance premiums, mortgage principal, mortgage interest, and late payment fees. Default means if you fail to repay in full any amount due and payable to us on the due date this should be enforceable after 90 days as before 90 days you are in arrears.
• Breach of obligations: you breach any of these obligations under the Loan Contract.
• Misrepresentation: any representation or information provided by you to us (whether oral or written) is untrue or incorrect or may cause misunderstanding in any material aspect.
• Illegality: the Loan is used for illegal purposes or the provision or continuing provision of the Loan will cause us to breach any laws of Barbados.
• You have died, become insolvent or admit your inability to pay any debts to any of your creditors.
• Any order, expropriation, attachment, or execution of any authority that affects your assets.

96. Loan Suspension

Sagicor Bank may at any time and without notice cancel or suspend the right to utilize Loan entirely or entirely withdraw the Loan as a product without affecting the Account Holder’s obligations under these Terms and Conditions.

97. Termination

• Either you or us may terminate our obligations under these Terms and Conditions at any time on written notice to the other party. On termination by the Account Holder, the termination notice should be accompanied by the repayment of the full Loan outstanding at the time of receipt.
• Termination shall only be effective upon the discharge of all the outstanding liabilities under these Terms and Conditions.
• We may cancel any Loan on written notice from you accompanied by the payment of all sums outstanding Loan balance.
• Sagicor Bank may at any time and without giving reasons or notice terminate these Terms and Conditions and upon such termination the Account User must repay the full outstanding Loan balance within the contracted period.
• Termination by either you or the us shall not affect your obligations to meet any liabilities incurred prior to that termination. This condition will continue until you have repaid all amounts outstanding at the time of termination.

98. Disclosure Of Information

The Account Holder agrees that Sagicor Bank may disclose details relating to the Loan to any third party (including credit agencies) if in Sagicor Bank’s opinion such disclosure is necessary for the purpose of evaluating any application made to Sagicor Bank or such third party or other purpose as Sagicor Bank shall deem appropriate.

The Account Holder agrees that Sagicor Bank may disclose details relating to the Loan including details of default in servicing the User’s Account to any third party (including credit agencies) for the purpose of evaluating the Account Holder’s credit worthiness or for any other lawful purpose. Please see our Privacy Policy for further details on how we treat with protecting your information.

90. Loan Terms and Conditions

These Terms and Conditions as varied from time to time constitute the Agreement between the Account Holder and Sagicor Bank with regard to a Loan disbursed through the Sagicor Bank App or Sagicor Bank Online.

Account Holders will have the ability to apply for a Loan with Sagicor Bank via the Sagicor Bank App. By you completing a Loan Application via the Sagicor Bank App, you shall be deemed to have read, understood and agreed to be bound by these Terms and Conditions.

You are hereby further confirming that you have considered the charges and interest levied by us as specified below and fully understands that failure to settle the Loan on the due date shall result in a penalty fee. Please refer to the information for our penalty fees on Loans.

Your Loan will be governed by the Specific Terms and Conditions of your Loan Contract. Where there is a conflict between the terms and conditions of your Loan Contract and these Terms and Conditions, the Specific Terms and Conditions of your Loan Contract will prevail to the extent of any such conflict or inconsistencies.

91. Deposit of Loan Funds

The Loan shall be available to you, the borrower, only after the application is approved by the Sagicor Bank. For personal and construction Loans, we will provide the funds agreed to in your Loan Contract by direct transfer into the account you have chosen. The Loan shall be disbursed in BBD into the required account, which, depending on the type of Loan, may be your Account or the account of the vendor or the vendor’s Attorney-at-Law. For other types of Loans e.g. mortgages, the monies would be deposited to the account of Sagicor Bank's Attorney-at-Law for onward disbursement where applicable to the vendor or vendor’s Attorney-at-Law, at which time the title deeds are handed to Sagicor Bank's Attorney-at-Law.

92. Charges and Interest

The following charges shall apply and may from time to time be subject to change without notice within the full extent permitted or demanded by law:- Schedule of Charges Page | Sagicor.

93. Loan Repayment

To successfully ensure the full repayment of your Loan with us, you will need to:

1. Repay the Loan by making the repayments set out in your Loan offer and or Loan Contract by their due date (including interest rates as outlined in Schedule of Charges Page | Sagicor).
2. Pay all fees and charges as outlined in your Loan Contract or otherwise imposed by us under these Loan Terms and Conditions; and
3. Pay all other amounts that these Terms and Conditions require you to pay, including any reasonable enforcement expenses we reasonably incur.

When your specific Loan Contract comes to an end, you will be required to pay the balance plus any amounts charged, incurred or payable but not yet debited to your Loan Account when the specific Loan Contract has ended, as well as any reasonable enforcement expenses that you reasonably incurred (you must pay those expenses on demand).

A payment will be considered made by you when we have credited the appropriate Account. The principal and interest of the Loan shall be repaid in instalments on periodic basis (the “Instalment”) on terms according to your specific Loan offer and or Loan Contract by way of debiting your Account until the Loan is repaid in full.

94. Insurance

You have the option of applying for creditor protection insurance on all Loans except overdraft protection. Any creditor protection insurance only applies to the product for which it was designed.  You may purchase any insurance required by these Terms and Conditions from an insurance company lawfully licensed or through an agent of your choice. You also agree not to assign the insurance policy or its proceeds to any other person.

95. Breach Of Conditions

In the event of any breach by you of any of these Terms and Conditions, in circumstances where you have failed to comply or procure compliance with the terms of a notice served by Sagicor Bank on you, we will require immediate repayment in full of the outstanding balance of your Loan. Such breaches include:

• Non-payment: you fail to make a payment or any part of a payment on time; for example, failure to pay any component of your mortgage loan payment can result in Default, which can include but is not limited to (where applicable): property insurance premium payment, property tax payment, add-on charge repayment plans, credit protection insurance premiums, mortgage principal, mortgage interest, and late payment fees. Default means if you fail to repay in full any amount due and payable to us on the due date this should be enforceable after 90 days as before 90 days you are in arrears.
• Breach of obligations: you breach any of these obligations under the Loan Contract.
• Misrepresentation: any representation or information provided by you to us (whether oral or written) is untrue or incorrect or may cause misunderstanding in any material aspect.
• Illegality: the Loan is used for illegal purposes or the provision or continuing provision of the Loan will cause us to breach any laws of Barbados.
• You have died, become insolvent or admit your inability to pay any debts to any of your creditors.
• Any order, expropriation, attachment, or execution of any authority that affects your assets.

96. Loan Suspension

Sagicor Bank may at any time and without notice cancel or suspend the right to utilize Loan entirely or entirely withdraw the Loan as a product without affecting the Account Holder’s obligations under these Terms and Conditions.

97. Termination

• Either you or us may terminate our obligations under these Terms and Conditions at any time on written notice to the other party. On termination by the Account Holder, the termination notice should be accompanied by the repayment of the full Loan outstanding at the time of receipt.
• Termination shall only be effective upon the discharge of all the outstanding liabilities under these Terms and Conditions.
• We may cancel any Loan on written notice from you accompanied by the payment of all sums outstanding Loan balance.
• Sagicor Bank may at any time and without giving reasons or notice terminate these Terms and Conditions and upon such termination the Account User must repay the full outstanding Loan balance within the contracted period.
• Termination by either you or the us shall not affect your obligations to meet any liabilities incurred prior to that termination. This condition will continue until you have repaid all amounts outstanding at the time of termination.

98. Disclosure Of Information

The Account Holder agrees that Sagicor Bank may disclose details relating to the Loan to any third party (including credit agencies) if in Sagicor Bank’s opinion such disclosure is necessary for the purpose of evaluating any application made to Sagicor Bank or such third party or other purpose as Sagicor Bank shall deem appropriate.

The Account Holder agrees that Sagicor Bank may disclose details relating to the Loan including details of default in servicing the User’s Account to any third party (including credit agencies) for the purpose of evaluating the Account Holder’s credit worthiness or for any other lawful purpose. Please see our Privacy Policy for further details on how we treat with protecting your information.

We may, on a request being made by you, allow you to conduct banking business by using Sagicor Bank Online. In addition to these Terms and Conditions, you hereby agree that your use of Sagicor Bank Online shall be governed by any policies made by Sagicor Bank from time to time and published on our website. By using Sagicor Bank Online, you agree to be bound by these policies.

99. Use of the Online Banking Facilities

If you want to enable Sagicor Bank Online, you can go to the Sagicor Bank App settings option and select Online banking. You only enter your PAC to access the Sagicor Bank App and you do not need a User identification. After selecting Sagicor Bank Online, you can then enter your identification used to onboard or email address. You will then receive a random code that will allow you to enter Sagicor Bank Online URL where you will be prompted to change your password. Every time you wish to access Sagicor Bank Online after that, you will receive a onetime password (“OTP”) to your Mobile Phone to enter and access Sagicor Bank Online along with your password.

Subject to the availability of Sagicor Bank Online, you may give instructions and execute such transactions as Sagicor Bank may from time to time allow to be given or executed by you using Sagicor Bank Online. You must not use Sagicor Bank Online for any illegal, fraudulent or defamatory purposes or take any steps which could undermine the security or integrity of Sagicor Bank’s Online or cause harm to or threaten to harm any other User of Sagicor Bank Online. For our mutual protection, Sagicor Bank reserves the right to record all your activities when using Sagicor Bank Online.

100. Sagicor Bank May Decline Online Banking Transactions

We reserve the right to decline any instruction or Transaction given or executed via Sagicor Bank Online for any reason in our absolute discretion including where the Transaction amount plus the applicable fees exceeds the balance available in your Account at the time the instruction is given or the Transaction executed.

101. Sagicor Bank’s Right to Deny Access

We may, at any time and in our absolute discretion, refuse access to Sagicor Bank’s Online in the event of a breach of these Online Banking Terms and Conditions or the policies governing same, or where we deem it in our best interests to do so.

102. Transactions

You agree that you are responsible for the accuracy of your electronic Transaction instructions, including the payee information, payee account information, billing company, billing account number and payment amount and you acknowledge that electronic payment instructions once sent may be final and irrevocable, so that it may not be possible to retrieve funds sent in error.

It is your responsibility:

(a) to ensure that electronic payment instructions and your personal information registered on Sagicor Bank’s Online are accurate at all times. For bill payments, Sagicor Bank can update your bill profile, including your billing account numbers and billers’ names if informed of a change by the biller or if deemed necessary by us, your confirmation is required if any such changes are made by us;

(b) to ensure that sufficient funds are available in your Account (or through overdraft protection linked to your Account) as at the effective time of a Transaction on Sagicor Bank Online.  Transaction instructions will not be processed without sufficient funds;

(c) to know the Transaction requirements of each payee. You acknowledge that individual payees have varying Transaction requirements and that we may reject, cancel or return a payment that does not meet the particular Transaction requirements of a payee;

(d) to ensure that Transactions are requested so that there is sufficient time prior to their due date for them to be processed by Sagicor Bank and the payee. Transaction instructions made by you on a day that is not a Business Day or after the Bank’s daily cut-off time as advised from time to time, will require additional time to reach the intended payee;

(e) to promptly and carefully examine transaction information to ensure electronic payments have been successfully and correctly processed and to notify Sagicor Bank via our Customer Service Centre at 1-844-724-4267 / 1-246-228-4267 or via email at support@sagicor.bank within 30 days of the electronic payment date of any errors or discrepancies. You hereby acknowledge that if notice of errors is not received within the 30-day period, you shall be deemed to accept the Transaction information as valid and correct.

103. Protection of the Online Banking Facilities

We are entitled to introduce protective measures for our or your protection or the protection of third parties against wrongful use of Sagicor Bank Online and we may vary these protective measures from time to time at our absolute discretion without notice to you. Our discretion to introduce protective measures shall not include any obligation or requirement so to do, and unless otherwise agreed in writing to the contrary, we may decline to do so and shall not be liable to you for so doing.

104. Confidentiality of Online Banking Credentials

You are responsible for maintaining the confidentiality of your Sagicor Bank Online Banking credentials and you hereby accept full responsibility and liability for all instructions, transactions and activities that are given, occur or are performed using your Sagicor Bank Online credentials.

105. Your Right to Cancel Internet Banking Arrangements

Without prejudice to the provisions of these Sagicor Bank Online Terms and Conditions, you may cancel your use of Sagicor Bank Online by making a request to us in writing via our Customer Service Centre at support@sagicor.bank whereupon we will disable your user profile. You will remain liable for all Transactions performed, initiated or authorized by you prior to your Sagicor Bank Online profile being disabled.

106. Limitation Of Liability

You agree that neither we, your Internet service provider, your wireless carrier, nor any other third party associated with providing Sagicor Bank Online will be liable to you or anyone else for any direct or indirect, special, consequential, exemplary or punitive damages or for any losses arising out of your use or inability to receive or to use Sagicor Bank Online.

107. We may at our discretion, accept instructions from you for the electronic transfer of funds by wire transfer or otherwise (hereinafter called a “Funds Transfer”). In the event that a Funds Transfer is not completed by any intermediary bank or agent, we shall not be required to make any refund to you until we have received advice of cancellation from the intermediary bank or agent together with the freely available returned funds. In case of a refund, all expenses and losses occasioned by the transfer or attempted transfer and the refund shall be borne by you and you shall assume all risks of exchange rate fluctuations. We are obliged to make Funds Transfers on your behalf in accordance with applicable law, and the requirements of the intermediary banks through which the Funds Transfer may be processed. You hereby authorize us to provide such information to any intermediary as may be required to make a Funds Transfer and you hereby agree that we shall not be liable for any loss whether direct or indirect, which results from the provision by us of such information, or as a result of our failure or inability to provide current information, or to provide same on a timely basis. You also agree to hold us blameless and indemnify us against any and all costs, or expenses incurred in relation to any Funds Transfer requested by you.

108. When using your Card to access your Credit Card Accounts, you will be governed in all other respects by the terms of your separate Sagicor Bank Credit Card Agreement.

109. We may at your request, establish and execute Standing Orders and Sweep Facilities on your behalf notwithstanding that doing so may result in an overdraft on your Account. A Standing Order is an instruction to us by an Account Holder to make regular fixed payments to a particular person or organization. For a Sweep Facility, under your instructions you can specify the amount you want to sweep into a fixed deposit and link it to your Account. However, we are under no obligation to execute a Standing Order or Sweep Facility if: (a) your Account does not have sufficient funds on the day that the Standing Order or Sweep Facility is to be executed; or (b) funds are subsequently deposited in your Account after the date for execution of a Standing Order or Sweep Facility. We shall be under no obligation to process any further Standing Orders or Sweep Facility if there are three (3) consecutive occasions on which there are insufficient funds in your Account to process the payments on the due date.
110. Effectiveness, Revocation and Alteration A Standing Order or Sweep Facility shall remain in effect until revoked by written notice to Sagicor Bank from you. Any alteration or cancellation of a Standing Order or Sweep Facility must reach the Bank at least five (5) Business Days before the due date of the next payment.
111. Payments Due on Weekends or Holidays Where a payment date falls on a day that is not a Business Day, payment will be made on the next Business Day.

112. Our Sagicor Bank ATMs, offer you the convenience of paying bills, checking your balance, and transferring funds to other Accounts.

With your Card and Card PIN, you can access your local currency Accounts and where available, foreign currency accounts through any Sagicor Bank ATM in the country where your Account is domiciled. You may also be able to access your Accounts (cash withdrawals) by using Sagicor Bank ATMs located in other countries. Please refer to the Rates, Fees and Charges Sheet to find out if system access fees apply for a particular country and the amount.

113. ATM bill payments

You can register the companies to whom you make regular bill payments by using the Sagicor Bank App. Then simply transfer funds from your designated Account to pay the bill.

114. Access to shared ATM services

You may also, for a fee, access the funds in your Accounts (cash withdrawals) by using banking machines of other financial institutions in the country where your Account is domiciled that display the symbol(s) located on the back of your Card. Please refer to the Rates, Fees and Charges Sheet to know the amount of the applicable system access fees. In addition, the owner of the ATM may also charge you a convenience fee. This will be disclosed by the ATM operator on the ATM screen before you complete your transaction, so you can choose to cancel the transaction if you do not wish to proceed.

115. You can access Sagicor Bank App through your internet-enabled Mobile Phone.

Our Sagicor Bank App allows you to:

• Obtain Account balances;
• View past transactions on your Account;
• Pay bills and have bill reminders;
• Transfer funds between Accounts and to other banks in Barbados;
• Perform international Transactions;
• Add on new Account Holders to your Account;
• Set Alerts;
• Add on new Accounts;
• Apply for a Loan.

116. Service fees

• There is no monthly access fee for you to use our App.
• Certain transactions such as bill payments and funds transfers count towards your monthly transactions as specified in your Account choice and all regular Account fees will apply.

You must meet and always comply with the technical and security requirements that we establish regarding Sagicor Bank App and that we provide to you from time to time.

There is no contractual arrangement or relationship between us and your internet service provider and mobile or wireless carrier as it relates to the Sagicor Bank App service.

117. Suspension or termination of service

We can suspend or terminate your Sagicor Bank App services if we believe you are in breach of these Terms and Conditions or any other agreements that you have entered with us. If we suspend or terminate your Sagicor Bank App services, we will notify you. Your Sagicor Bank App is also subject to termination if your Mobile Phone service terminates or lapses. There are no fees or any Sagicor Bank App associated costs if you or we terminate your Sagicor Bank App service.

We can discontinue the Sagicor Bank App service at any time. If we do, we will post a notice thirty (30) days in advance on the Sagicor Bank App sign-on page(s) or on our website.

If you want to disable accessing your accounts on Sagicor Bank App, you can contact our Client Experience Centre at 1 (246) 228-7225 or via email at support@sagicor.bank.

118. Privacy (applicable to Sagicor Bank App only)

You acknowledge and accept that we will partially mask your account numbers, but balance and other information about your Account(s) may be included and stored on your Mobile Phone. You acknowledge and agree that we will not be liable to you for any loss that you may suffer including if your Mobile Phone is lost or stolen.

Anyone with access to your Mobile Phone could view its content unless you lock your device. You are responsible for keeping this information confidential and secure.

119. Your responsibilities

It is your responsibility to determine with your wireless carrier if your Mobile Phone is capable of accessing the Internet. Sagicor Bank App is subject to the terms and conditions of your agreement with your wireless carrier and/or Internet service provider. You are responsible for any fees imposed by your mobile service provider and internet service provider of any kind.

120. Non-Supported Devices

You must not use any of Sagicor Bank’s Electronic Services on any Mobile Phone or other device or operating system that has been modified outside the hardware or software vendor supported or warranted configurations, such as "jail-broken", "rooted” devices. To “jailbreak” means to allow the phone's owner to gain full access to the root of the operating system and access all the features. Similar to jailbreaking, “rooting” is the term for the process of removing the limitations on a mobile or tablet running the operating system.

When you enroll to use any of Sagicor Bank’s App or Sagicor Bank Online you represent and warrant to Sagicor Bank that you are not using any such tampered device and you agree it will be a default of the Terms and Conditions if you do so. Using such a tampered device, you agree that it may compromise your ability to use Sagicor bank’s products and services and may lead to fraud or expose you to other risks for which you will be solely liable, and will indemnify Sagicor Bank, for any losses, damages, costs and expenses whatsoever (including but not limited to legal costs) incurred by you, Sagicor Bank or any third-party resulting from your use of such a tampered device.

121. App Alerts

Sagicor Bank App has an Alerts functionality that allows you to easily select Alerts for your Accounts. Depending on the Alert, you can choose to receive Alerts via email or push notifications to a Mobile Phone, or any other method we offer from time to time. An Alert does not constitute a bank record for the Account to which it pertains. You agree that each Alert is sent to you without being encrypted and may include information pertaining to your Account. We will partially mask your Account numbers.

You may receive Alerts through one or more of a Mobile Phone and an email account. It is your responsibility to determine if your mobile carrier supports push messaging and if your Mobile Phone or telephone is capable of receiving push messages. Depending on your chosen Alert delivery method, you must have internet and/or data services enabled on your Mobile Phone or personal computer. You are responsible for any fees of any kind whatsoever imposed by your mobile service provider and internet service provider.

Given that Alerts may be about Account balance or credits to your Account, you have a responsibility to ensure that such Alerts are private and confidential as anyone with access to your email or Mobile Phone will be able to view these Alerts.

We do not verify the email address you provide to us prior to or following activation of the Alerts. It is your responsibility to ensure that it is current and accurate by contacting us at our Client Experience Centre at 1 (246) 228-7225 or via email at support@sagicor.bank.

It’s very easy to disable your Alerts, temporarily or permanently by switching your Alerts off on your Sagicor Bank App or Sagicor Bank Online. Alternatively, you may also call us at Our Client Experience Centre at 1 (246) 228-7225 or via email at support@sagicor.bank.

We reserve the right to suspend, modify or cancel the Alerts service at any time without notice, including by adding, deleting or making changes to Alerts. This means that you may begin to receive new Alerts that we’ve added to the service, whether as part of a bundle or otherwise, and/or you may no longer receive certain Alerts you have currently enabled.

We will reimburse you in the unlikely event that you suffer direct financial losses due to unauthorized activity in your Accounts accessed through Sagicor Bank App provided you have met your security and other responsibilities. That means you must abide by these Terms and Conditions and any other agreements you have entered into with us that govern your personal banking or other financial service or product offered by us.

You must always keep your Card number, PAC, Card PIN and Card security code number (last three numbers printed on the back of your Card) and Security Information confidential. Do not divulge this information to anyone—including family members, friends, employees, lawyers, accountants or anyone else. Do not write this information down or keep it together with your Card or save this information in your mobile device.

Do not respond to text messages, pop-ups, emails or other internet requests that ask you to reveal personal information about yourself or your Accounts. We will never send you unsolicited text messages or emails asking for your password, Card PIN, PAC, credit card, Account numbers, etc. We will never ask you to validate or restore your account or Sagicor Bank OnLine and/or Sagicor Bank App access through unsolicited text messages or emails.

You must review your statements and report any errors in a timely manner. Different transactions have different reporting deadlines. Please see the applicable Account terms and conditions for further details.

You agree to assist us in any investigation into improper access to your Account(s).

122. Maintenance

The Sagicor Bank App is available 24 hours a day except for the periodical closing and system maintenance periods. Sagicor Bank shall inform you about maintenance times accordingly.

During the regular maintenance of the App, the User will be partially or completely disabled in using the App. Regular maintenance services are performed at a time when, according to Sagicor Bank’s estimate, is the lowest frequency of use of the service.

In the event of technical breakdown or malfunctions Sagicor Bank shall commence work on correcting the fault.

123. Limitation of liability

You agree that neither we, your Internet service provider, your wireless carrier, nor any other third party associated with providing Sagicor Bank App will be liable to you or anyone else for any direct or indirect, special, consequential, exemplary or punitive damages or for any losses arising out of your use or inability to receive or to use Sagicor Bank App.

124. Electronic Banking

Electronic Banking applies to instructions you provide to us, and your agents from whom we accept instructions by telephone or e-mail and you authorize us to act on such instructions. These Electronic Banking Terms and Conditions replace all prior agreements between you and us regarding instructions you provide to us by telephone, e-mail or any other Electronic Communication.

We will only act on Electronic Banking instructions for Accounts, Term Deposits, products or services where you alone can give instructions and only for certain type of instructions, such as:

• Renewals of Term Deposits;
• Transfers from your Account to purchase Term Deposits;
• Changing instructions for the payment of principal, interest or income from existing or maturing Term Deposits;
• Changing personal data in your Accounts, Term Deposits;
• Transfers to or between your Accounts, and Term Deposits but only in the country where you maintain your Accounts, and Term Deposits; and
• Redeeming Term Deposits and depositing the funds to an Account registered to all owners of the Term Deposits.
• You may also apply for certain Loans or otherwise give instructions regarding the Loan.

You acknowledge and agree that any Electronic Communication such as e-mail that is not encrypted: (i) is not secure, private and confidential, (ii) may not be reliable and may not be received by the intended recipient promptly or received at all, (iii) may be subject to interception, loss or alteration, and (iv) you assume full responsibility for risks associated with such Electronic Communication and agree that we will not be responsible or liable for any loss or damage arising from any use of any Electronic Communication, including, but not limited to, any loss or damage arising from any unauthorized access to, or interception, loss or alteration of such communication.

Because we are concerned about the security of your Accounts, Term Deposits and your personal information, you agree that we are not obligated or required to act on the instructions if we doubt the identity of the source or authenticity of the person giving the instruction or if the transaction appears suspicious, questionable or unusual for your regular banking habits. We may ask you to give us certain information that will assist us in determining that you are the person giving the instruction.

We may also refuse to act on any instruction if, in our opinion, to do so may be illegal or in breach of any obligation we owe to a third party; or if it would cause us to fail to comply with any code or standard in force from time to time that applies to us.

We may send you a confirmation that the instructions have been received and acted upon. We will also take reasonable steps to inform you when we have determined that we will not be following your instructions.

You release us from any and all liability or claim for failure to act, execute or complete any instruction due to any reason beyond our reasonable control. You also agree that we and any of our subsidiaries and our respective agents will not be liable to you for acting on your instructions or on instructions that appear to be from you, if those actions are in good faith.

You agree to indemnify and save harmless Sagicor Bank and any of its subsidiaries and their respective agents from and against any and all liabilities, obligations, losses, damages, penalties, claims, actions, judgments, suits, costs, expenses, disbursements of any kind or nature whatsoever that may be imposed upon, incurred by or served against us or them by reason of our or their actions taken in accordance with the instructions.

You agree that you will be bound by this Electronic Banking Terms and Conditions and any other agreement you have entered into with us for Loans that you have given instructions for.

You acknowledge and agree that service fees and charges may apply for actions taken by us in response to your instructions. These fees and charges may be deducted from any Account you have with us, unless a specific Account is requested by you in your instructions.

125. Entering into Agreements through Electronic Communication

You can opt to apply for and /or enter into agreements for certain Accounts, Loans or any other agreement with Sagicor Bank through Electronic Communication. You agree that where such applications and/or agreements require your signature as proof of your consent and agreement to the terms and conditions thereof, your consent and/or agreement will be indicated and validly given through either of the following methods:

(i) By sending an e-mail from your e-mail address, contained in our records, approving and/or accepting the contents of the e-mail message or any relevant attachments included;

(ii) By responding in the affirmative orally over the telephone;

(iii) By affixing an electronic scanned version of your handwritten signature to the relevant document(s), or

(iv) By using your Electronic Signature to authorize, access, approve, confirm or accept the terms applicable to any offer, product or services or any relevant attachments referenced or included.

You agree that either of these methods listed at (i) - (iv) above, will satisfy any requirement for your original handwritten signature and shall have the same legal effect, validity or enforceability and will be deemed to be your original signature for all purposes.

You also agree that Sagicor Bank can electronically retain such consents and any documents that you have affixed your scanned signature to. You agree that these forms of consent/ agreement may be reproduced by Sagicor Bank and that any such reproduction shall be admissible in evidence as the original itself in any judicial, arbitration or administrative proceedings. You further agree that agreements entered into through Electronic Communication, may be signed in any number of counterparts and each counterpart shall represent a fully executed original as if signed by both Parties.

Sagicor Bank (Barbados) Limited (“Sagicor Bank”) significantly values your trust in us. We truly understand our duty to protect and responsibly use the information that you share with us, and we pledge our commitment to fulfilling that responsibility. The purpose of this Privacy Agreement, a policy applied by Sagicor Bank is to inform you on how we treat your Personal Information. 

This Privacy Agreement, as amended from time to time, replaces all previous privacy agreements, either written or oral, between you and us regarding the collection, use and disclosure of your Personal Information. 

This Privacy Agreement is divided into the following sections: 

• Who we are 
• Collecting, Using and Disclosing your Information  
• Cookies and similar technologies 
• Marketing 
• Your rights 
• Keeping your personal information secure 
• Accessing your information 
• Use and disclosure of information for certain products or services 
• Maintaining the accuracy of personal information 
• Refusal or withdrawal of consent 
• Changes to this privacy statement 

Who we are 

We ask that you read this Privacy Agreement carefully as it contains important information on who we are, how and why we collect, store, use, process and share Personal Information, your rights in relation to your Personal Information (also referred to as “Data”) and on how to contact us and the relevant data protection regulator in the event that you have a complaint.  

In this Privacy Agreement: “we”, “our”, “us” and “Sagicor Bank”, means Sagicor Bank (Barbados) Limited, or any of its branches, agencies, subsidiaries and affiliates. Sagicor Bank includes companies engaged in the following services to the public: digital wallet, online banking, deposits, loans and other personal financial services; credit, charge, debit and payment card services; full service and discount brokerage services; mortgage loans; insurance services; and services related to the above such as loyalty programs. “Sagicor Group” means the Sagicor group of companies affiliated to or parent or controllers of Sagicor Bank. 

This Privacy Agreement is applicable to each individual that has applied for, signed an application, enrolled in, or uses any personal or business banking, insurance, or financial product or service offered by us (“Service(s)”) including any co-applicant(s), guarantor(s), personal representatives, or an individual who participates in a Sagicor Bank contest, survey, event or has otherwise provided Personal Information to us (“you” and “your”).  

 “Personal Information” or “Data” means information, such as contact information, financial and account information, age and gender, identification numbers, income and employment information related to an identifiable individual. This may include information provided by the individual or collected by Sagicor Bank from the use of its products and services, third parties or public sources, and includes information in any format, including digital formats.  

“Process” or “processing” means any use of the same data including obtaining, recording, storing, organizing, adapting, altering, retrieving, consulting on the Personal Information collected from you. 

Collecting, Using and Disclosing your Information  

Sagicor Bank is a multinational organization with business processes, management structures, vendor arrangements and technical systems that cross borders. We collect, use and are responsible for certain Personal Information about you. When we do so we are regulated by Data protection legislation and we are responsible as ‘controller’ of your Personal Information for the purposes of Data protection legislation. 

What We Collect from You  

We collect Personal Information about you when you access our digital platforms, app, website, social media platforms, register with us, complete an online application form, request an online meeting with a customer service representative, make a payment towards a policy, make a claim, log into your account, apply for any of our Services, request a quote or contact customer service via our website or through a mobile app or complete a survey. 

We collect this Personal Information from you either directly, online or indirectly, such as by keeping details of your browsing activity while on our website (see ‘Cookies and similar technologies’ below). 

The Personal Information we collect about you depends on the particular activity being carried out through our website. This information may include along with documents to verify the same: 

• Your name  
• Your address  
• Your contact details including email address and contact numbers
• Valid government-issued photo-bearing identification 
• Government-issued identification numbers  
• Date of birth 
• Marital status 
• Employment information 
• Banking and financial account information 
• Information on income and financial position 
• Personal health information and family medical history 
• Any criminal history 
• Information regarding citizenship and residency  
• Details of any feedback you give us by phone, e-mail, post or via social media 
• Information about beneficial owners, connected persons, intermediaries and other third parties where this information is required by law 
• Information about the Services we provide to you 
• Your account details, such as username, login details 
• For legal entities such as corporations, partnerships, trusts, estates, organizations, joint ventures or other organizations, we may collect the information referred to above for authorized persons, including, without limitation signatories, shareholders, directors, officers, partners, trustees, executors, as appropriate.  
• In addition, when you apply for, enroll in or use a Service, or participate in any contest, survey or event via a digital channel (such as wallet, app, online or mobile banking), we may collect information about your computer or device, operating system, internet connection or telephone account, settings, IP address, device locational data, and transaction data, as well as Personal Information as described above.  
• We may collect, use, disclose and retain this information for the purposes described below, as well as to determine which settings are appropriate for your computer system, so we can provide or enhance digital functionality and banking options, for security purposes, internal analysis and reporting. You may withhold consent to the collection, use and disclosure of this information, although in some cases this may prevent you from using the digital channel to apply for or use a Service or to communicate with us, or may reduce the functionality of that channel. 

How we Use and Disclose Your Personal Information 

We may use and disclose your Personal Information to any person or organization, including any member of Sagicor Group, for the following purposes:  

• To create and manage your account with us 
• To verify your identity 
• To determine the suitability of our Services for you 
• To determine your eligibility for our Services 
• To set up, manage and provide Services to you  
• To provide you with various options for applying and accessing our Services 
• To understand your needs 
• To arrange for a Sagicor Group representative to contact you when requested 
• To process an application, claim or payment 
• To notify you of any changes to our website or to our Services that may affect you 
• To resolve complaints and handle requests for access to or rectification of data 
• To improve our Services  
• To meet legal, regulatory or audit requirements, including the requirements of any self-regulatory organization to which we belong 
• To help us collect a debt or enforce an obligation owed to us by you 
• To respond to a local or foreign court order, search warrant or other lawful demand or request that we believe to be valid, or to comply with the rules of production of a local or foreign court 
• To manage and assess our risks 
• To prevent or detect fraud or criminal activity or to manage and settle any actual or potential loss in connection with fraud or criminal activity. 

When we collect your health information for the purpose of providing an insurance service through one of our affiliates, we will use and disclose such information strictly for that purpose. (See below on Data Recipients). 

Verification of Your Identity  

You agree that we may collect, use and disclose your national, tax or other government-issued identification number or information, where permitted by law, for income tax reporting purposes and to fulfill other regulatory requirements, as required by law. In addition, we may also collect, use and disclose this information to verify and report credit information to credit bureaus and credit reporting agencies as well as to confirm your identity, where permitted by law. You may refuse to consent to its use or disclosure for purposes other than as required by law. However, this may result in a denial of a Service or product. In addition, information may also be disclosed to foreign taxation authorities such as the U.S. Internal Revenue Service or to any local taxation authority as required under the U.S. Foreign Account Tax Compliance Act (“FATCA”), or similar legislation from other countries or under local law. 

Who do we share your Personal Information with? 

Data Recipients: 

Third-Party Service Providers 

We do not directly provide all Services related to your relationship with us and may contract third-party service providers to process or handle Personal Information on our behalf and to assist us with services such as printing, postal and electronic mail distribution, data processing and analytics, marketing (by telephone and electronic means), and providing customer support and you acknowledge and agree that we can release your Personal Information to them.  

We may also share your Personal Information with our third-party services providers operating outside of your home jurisdiction for any of the purposes set out above. This will mean that your Personal Information may be disclosed to regulatory authorities under the laws of these jurisdictions. You understand and agree that your Personal Information may be transferred to and collected, used, disclosed or stored in jurisdictions outside of the jurisdiction in which you reside.  

Sagicor Bank will ensure that third-party service providers who receive the Personal Information of our customers are bound by a data processing agreement with us requiring that they agree to keep such Personal Information confidential and to use it only to perform their obligations set out under such agreement. 

Affiliated companies: We may share your Personal Information with our affiliates within the Sagicor Group in furtherance of our interests in enhancing business efficacy through intra-group operational efficiencies and in promoting business continuity. 

Non- affiliated service providers: We may share your Personal Information with non-affiliated third-party service providers of technical, or administrative services who act on our behalf and in accordance with our instructions, including in the contexts of customer support, software and application development, quality assurance, payment processing, mail processing and market research.  

Reinsurers: If necessary, a copy of your application and any supporting information may be provided to a reinsurer who has agreed to share the risk associated with providing benefits under your insurance contract.  

Intermediaries:  To facilitate service delivery under the insurance contract you applied for and keep customer records up to date, your Personal Information may be shared with any licensed intermediary (sales agent or broker) acting on your behalf. 

Other Disclosures: We may disclose your Personal Information to third parties if we reasonably believe that disclosure of such information is helpful or reasonably necessary to comply with any applicable law or regulation, to comply with or respond to a legal process or law enforcement or governmental request, to enforce our terms and conditions or other rights (including investigations of potential violations of our rights), to detect, prevent, or address fraud or security issues, or to protect against harm to the rights, property, or safety of Sagicor Bank. 

Our legal basis for processing your Personal Information 

When we use your Personal Information, we are required to have a legal basis for so doing. There are various legal bases on which we may rely, depending on what Personal Information we process and why. 

The legal bases we may rely on include: 

Consent: where you have clearly consented to the processing of your Personal Information for a specific purpose.  

To process sensitive Personal Information including information on your financial position or on your criminal history we need your consent.  If you do not consent or later elect to withdraw your consent to the processing of your financial information, we will not be able to provide you with insurance services.  You should only give your consent to the processing of your sensitive Personal Information if you are doing so voluntarily.  

Any consent that you give must be given from an informed position and specific to the purpose for which it is requested. 

Contract: where our use of your Personal Information is necessary because you have asked us to take specific steps before entering into a contract or for performance of a contract that we have concluded with you such as insurance policies. 

We collect and use your Personal Information in taking steps to conclude an insurance contract with you and to perform under that contract, if concluded.  Your Personal Information is required to evaluate our ability to provide you with benefits and/or coverage as per your application and where your application is accepted, to administer our contract with you.  

Legal obligation: where our use of your Personal Information is necessary to comply with law (not including contractual obligations). 

Legitimate interest: where our use of your Personal Information is necessary to advance our legitimate interests or those of a third party (unless your right to privacy overrides our legitimate interest).  

How long do we retain your personal information for? 

You agree that we may retain and use your Personal Information for as long as it is needed for the purposes described in this Privacy Agreement, even if you cease to be a customer, subject to applicable law. 

Cookies and other tracking technologies 

A cookie is a small text file which is placed onto your device (e.g. computer, smartphone or other electronic device) when you use our website. These cookies help us recognize you and your device(s) and store some information about your preferences or past actions. 

There are a number of different types of cookies, however, our website uses the following types: 

• Functionality – these are necessary cookies that enable us to recognise you on our website and remember your previously selected preferences; these may include what location you are in 
• Performance Optimization:  these cookies enable us to provide you provide you with a responsive service and to make your experience of our website better.  
• Advertising - these cookies are used to collect information about your visit to our website, the content you viewed, any links you followed and information about your browser, device and IP address.  

Sagicor Bank or its third party service providers may also use various web tools including Web Beacons and Tagging on our websites and advertisements to evaluate and improve our websites and other electronic offerings, tailor our Services, enhance our customer experience and communicate with you regarding products and Services that may be of interest.  

• Tagging is a customized code on our websites that provide the ability to monitor user activity on Sagicor Bank websites. This software can be used to capture user activity to be used by us or a third party for analysis so that we can understand and enhance our user experience and provide further security controls.  

• Web Beacons are small images embedded in our websites that, when combined with Cookies, help provide us with information about the use and effectiveness of our website.  

Sagicor Bank may use video surveillance in and around our branches, bank machines and other locations for the purpose of safeguarding our clients and employees and protecting against theft, fraud and vandalism. Any video images recorded are destroyed when they are no longer required for business or other purposes, and any Personal Information is safeguarded in accordance with this Privacy Agreement.  

If you do not want cookies used in connection with your visit to our Website, or if you wish to limit their use, you can choose not to accept non-essential cookies and can generally also adjust the browser settings on your device. Most Internet browsers allow you to set your own preferences for use of cookies. Please be aware however that this may affect some functionality as you navigate the website which could impact your browsing experience. 

Marketing Purposes  

In order to better understand your use of our Services and to identify other products, services or offers from Sagicor Bank or select third parties that may be of interest to you, we may analyze and use your information as well as share your information within Sagicor Bank for these purposes.  Unless you indicate otherwise, we may also use and share your contact information within Sagicor Group so that we and our affiliates may contact you directly to tell you about products, services, offers, promotions, events and other valuable information from Sagicor Group and select third parties, including via mail, telephone, SMS, text messaging, email or other electronic channels. This consent will also apply to any companies that form a part of Sagicor Group or Sagicor Bank in the future. We will never share your information with third parties outside of Sagicor Group for marketing purposes without your express consent. If you have a Service with us, you agree that we may use, disclose to and collect from credit bureaus, credit reporting agencies or financial service industry databases (where applicable), credit and other information about you in order to offer you preapproved credit products or margin facilities. We may also do this after the Service has ended. We have a legitimate interest in providing our prospective customers and clients with services that are well suited to their needs.  To this end,  provided that our processing of your Data will not impose on your interests, rights and freedoms to an extent that overrides our legitimate interest, we will use your personal information to grow our business intelligence through data analysis and the compilation of statistics so as to provide you with relevant information; identify services that may be of interest to you; develop and improve our financial services in response to customer needs; and make customized business conservation offers.   

For direct marketing that requires your consent, when you apply for any of the Services we provide, we will ask whether you would like us to send you marketing communications.    

If you have previously agreed to receive our marketing communications,  you can unsubscribe at any time or withdraw your consent to the use and disclosure of your Personal Information for the above marketing purposes at any time by contacting us at dataprotection@sagicor.bank  or by selecting the unsubscribe option we include in every marketing communication.  For more information on your rights, see ‘Your rights’ below. 

Your rights 

You have a number of important rights as it relates to your Data, including rights to:

• Fair processing of information and transparency in our use of your personal information 
• Be informed whether your Personal Information is being processed by us or on our behalf by a third party service provider 
• Access to your Personal Information  
• Require us to correct any mistakes in your information which we hold 
• Require the erasure of Personal Information concerning you in certain situations 
• Receive the Personal Information concerning you which you have provided to us, in a structured, commonly used and machine-readable format and to transmit this data to a third party in certain situations 
• Object at any time to processing of your Personal Information for direct marketing 
• Object to any decisions being taken by automated means which produce legal effects concerning you or similarly significantly affect you 
• Object in certain other situations to our continued processing of your personal information 
• The right to lodge a complaint with the Data Protection Commissioner or equivalent in your jurisdiction, where applicable 
• Restrict our processing of your Personal Information in certain circumstances 
• Claim compensation for damages caused by our breach of the Data Protection Act 

You have the right to withdraw consent to the processing of your Personal Information at any time. Withdrawing consent will not affect the lawfulness of any processing done prior to withdrawal. 

If you would like to exercise any of these rights, please write to: 

• The Data Privacy Officer, Worthing Corporate Centre, Worthing, Christ Church, BB15008 or at email dataprotection@sagicor.bank.  

Please provide:  

• Enough information to identify you (e.g. account number, name and address),  
• Proof of your identity and address (a copy of your driving licence or passport and a recent utility bill or bank statement, and 
• The information to which your request relates including any account or reference number(s) known to you. 

Keeping your personal information secure 

We have appropriate security measures in place to prevent personal information from being accidentally lost or used or accessed in an unauthorized way. We limit access to your personal information to those who have a genuine business need to know. Those processing your information will do so only in an authorized manner and are subject to a duty of confidentiality.  We have procedures in place to deal with any suspected data security breach.  We will notify you and the relevant data protection regulator of any data security breach where we are legally required to do so. 

Accessing Your Information  

You are able to access your Personal Information which we hold on file subject to legal, regulatory and contractual requirements. Some of this information is already accessible by you, through your account statement updates; by visiting the branch or office where you regularly do business; by accessing your account online; or through the Customer Contact Centre.   In order to process your request, we may request specific details from you, such as branch and account number, and clarification on the specific information or time period you are requesting access to. Except where prohibited by law, once your identity has been verified and the scope of your request confirmed, within a reasonable period or such period as required by law, we will provide you with access to your information. If necessary, we will notify you that we require an extension. 

Use and Disclosure of Information for Certain Products and Services:  

Credit Cards, Mortgages, Loans, other Credit Products  

When you apply for, accept, guarantee a loan or credit facility, or otherwise become indebted to us, and from time to time during the course of the loan or credit facility, you agree that we may obtain, use, verify, share and exchange credit and other information (except health information) about you with others including: credit bureaus, mortgage insurers, creditor insurers, registries, our branches and affiliates, and other persons with whom you may have financial dealings, as well as any other person as may be permitted or required by law. You agree that, we may do this throughout the relationship we have with you and you also authorize any person whom we contact in this regard to provide such information to us and we can continue to disclose your Personal Information to credit bureaus even after the loan or credit facility has been retired and, subject to applicable law, you may not withdraw your consent to our doing so.  

If you have a Service with us such as a Sagicor Bank credit card or line of credit product, you agree that we may give information (except health information) about you to electronic payment service providers, credit or charge card associations, loyalty program partners and their employees and agents for the purposes of processing, authorizing and authenticating your transactions (as the case may be), providing you with customer assistance services, and for other purposes related to your Services. We may also give this information in respect of your participation in contests and promotions administered by the electronic payment service providers, credit or charge card associations and loyalty program partners on our behalf.  

Insurance Products (where applicable to you)  

Kindly note, subject to applicable legal requirements, once you apply for, enroll in or sign an application in respect of or accept an insurance service via Sagicor Bank, you automatically agree that we may use, give to, obtain, verify, share and exchange information about you with third parties including references you have provided, hospitals and health practitioners, government health insurance plans, other insurers, medical information and insurance service bureaus, law enforcement representatives, private investigators, and other groups or companies where collection is necessary to underwrite or otherwise administer the service requested, including the assessment of claims. You also authorize any person whom we contact in this regard to provide such information to us. If you accept an insurance service via Sagicor Bank, you may only withdraw your consent, as indicated below, so long as the consent does not relate to the underwriting or claims where Sagicor Bank or its affiliates are required to collect and report information to insurance service bureaus after the application has been underwritten or the claim has been adjudicated. This is required to maintain the integrity of the underwriting and claims systems. 

Maintaining the Accuracy of Personal Information  

You acknowledge that all the information provided by you will, at any time, be true and complete. You are required to advise us if any of your Personal Information changes or becomes inaccurate or out of date, so we can update our records.  

Refusal or Withdrawal of Consent  

Subject to legal, regulatory and contractual requirements, you can refuse to consent to our collection, use or disclosure of information about you, or you may withdraw your consent to our further collection, use or disclosure of your Personal Information at any time in the future by giving us reasonable notice. However, depending on the circumstances, withdrawal of your consent may prevent us from providing you, or continuing to provide you, with some Services, means of access to Services, or information that may be of value to you. We will act on your instructions as quickly as possible but there may be certain uses of your Personal Information that we may not be able to stop immediately. You cannot refuse our collection, use and disclosure of Personal Information required by third party service providers essential for the provision of the Services or required by our regulators, including self-regulatory organizations. You may inform us at any time to stop using Personal Information about you to promote our Services or the products and services of third parties we select. If you wish to refuse consent or to withdraw consent as outlined in this Privacy Agreement, you may do so at any time by contacting the branch or office with which you are dealing with.  

Changes to this Privacy Agreement  

You agree that we can amend, modify, change or replace this Privacy Agreement at any time to take into consideration changes in laws and regulations, our practices or to address other issues. We will post the amended Privacy Agreement on our public website. We may also notify you of any changes to this Privacy Agreement in accordance with applicable law, which may be in any of the following ways: 

• A notice on our public website or your Sagicor Bank online portal, digital app or wallet;  
• A notice in our branches; 
• A notice in your statement; or 
• A notice prominently displayed at our ATMs or on our ATM screens.  

We consider you to have received the written notice:  

a) On the same day that it was sent if sent by fax or by Electronic Communication;  

b) Printed in your statement; or 

c) When it is posted in our branches, posted on our app, website, displayed at our ATMs or on our ATM screens. 

Your continued use of your Account (including maintenance of funds in), or any Service following notice of such change means that you agree to and accept the new terms and conditions of the Privacy Agreement as amended.  Should you not agree with any of the changes made, you must immediately (1) stop using your Account or Services, (2) notify us that you are terminating your respective agreement with us; and (3) close the Account(s) or other Services (where permitted).