Chequing Accounts
Our chequing accounts are designed to support a wide range of everyday transactions, whether you’re managing personal finances, running a registered business, or overseeing an incorporated entity. Enjoy the convenience, security, and efficiency you expect with every transaction.
Personal Chequing Account
Account Details
- Minimum Deposit: $5,000
Account Requirements
- A valid Driver’s Licence (the card)
In the absence of a Driver’s Licence:
- National Identification Card or Valid Passport
- Recent Proof of Address (dated within the last 6 months)
- TIN Certificate
- A Job Letter or Payslip (issued within the last three months). If self-employed, your Business Registration and prior year financials are required.
- A letter requesting the opening of the account, clearly stating the purpose.
- Confirmation of Residency letter & ID/PP (if a third-party proof of address is used)
- One (1) passport-size photograph for each applicant if the image on the ID is unclear.
- Marriage Certificate / Deed Poll / Absolute (if applicable)
Key Features
- Joint Account Capability: This account can be opened as a joint account, allowing multiple individuals to access and oversee the account, making it ideal for partners or families (Documents are required for all applicants).
- Easy Access to Funds: Easily access your funds whenever required, whether through ATMs using your VISA Debit Card (available with this account), online banking or by writing cheques, offering flexible management of your finances.
- E-Banking Access: Conveniently view your account activity online via our E-Banking platform, which is designed with added convenient features to enhance your banking experience. Click here: https://retail.demerarabank.com/
- Overdraft Protection: Protect yourself from overdrawing your account with an approved overdraft.
- Customer Support: Connect with our experienced customer support representatives on 592 624-0828, +592 728-0828 or via email on [email protected] for assistance with general account-related questions or concerns.
Registered Business
Account Details
- Minimum Deposit: $5,000
Account Requirements
- A letter from the business (on letterhead) signed by the registrants/partners/owners and addressed to the CEO requesting the opening of the account. The letter should contain the nature of business, purpose of the account and a brief description of the business’ operations (such as geographical markets, manufacturing, wholesale/retail distribution, etc). Additionally, the letter should contain the names of the signatories.
- A valid Driver’s Licence (the card)
In the absence of a Driver’s Licence:
- National Identification Card or Valid Passport
- Recent Proof of Address (dated within the last 6 months)
- TIN Certificate
- Business Registration and Income Statement for businesses existing for over one year or a Projected Income Statement for new businesses.
- Proof of Address for the Business.
- One (1) passport-size photograph for each signatory if the image on the ID is unclear.
- Tax-exempt letter/Certificate (if applicable)
- Valid Regulatory Permits/Licences/Franchise/Agency agreements (if applicable)
Key Features
- Easy Access to Funds: Easily access your funds whenever required, whether through ATMs using your VISA Debit Card (available with this account as long as there is one signatory), online banking, or by writing cheques, offering flexible management of your finances.
- E-Banking Access: Conveniently view your account activity online via our E-Banking platform designed with added convenient features to enhance your banking experience. Click here: https://ilink.demerarabank.com/
- Overdraft Protection: Protect yourself from overdrawing your account with approved overdraft protection services.
- Multiple Signatories: Enhance control and security with the ability to designate multiple signatories for your account. This feature is ideal for businesses requiring authorization from multiple partners or managers for transactions (Documents are required for all signatories).
- Customer Support: Connect with our experienced customer support representatives on 592 624-0828, +592 728-0828 or via email on [email protected] for assistance with general account-related questions or concerns.
Incorporations
Account Details
- Minimum Deposit: $5,000
Account Requirements
- A letter from the company (on letterhead) addressed to the CEO requesting the opening of the account, stating the nature of business, purpose of the account and a brief description of the company’s operations. The letter should also outline the intended signatories and signing instructions on the account with attributed licences/certifying documentations attached, wherever necessary.
- Two reference letters, addressed to the CEO recommending the opening of a chequing account. The references will be accepted from reputable entities or individuals, preferably from persons who are close business associates of the company (but not relatives) or from a Bank.
- Resolution of Directors or excerpt from minutes of meeting of the Directors (on letterhead) when the decision was taken to establish a banking relationship with Demerara Bank Ltd.
- Notice of Director(s), Secretary and registered office.
- Consent to act as Director(s) and Secretary.
- A valid Driver’s Licence (the card) of the directors, secretary, signatories and ultimate beneficial owners
In the absence of a Driver’s Licence:
- National Identification Card or Valid Passport
- Recent Proof of Address (dated within the last 6 months)
- TIN Certificate
- Certificate of Incorporation and Previous year audited financial statements and/or annual report, or in the event of a new company, the projected financial statements.
- Memorandum and Articles of Association and Constitution or By Laws of the Company.
- Proof of the registered address of the company and business address (If Different).
- TIN Certificate and/or any Government issued document stating TIN of the company
- Tax Compliance Certificate (for entities existing more than 1 year).
- Valid Regulatory Permits/Licences/Franchise/Agency agreements (if applicable).
Key Features
- Convenience: Cheques provide a convenient way to make payments without the need for cash and can be used for various transactions.
- E-Banking Access: Conveniently view your account activity online via our E-Banking platform designed with added convenient features to enhance your banking experience. Click here: https://ilink.demerarabank.com/
- Record Keeping & Proof of Payment: Writing a cheque provides a tangible record of the transaction, making it easier to track payments and reconcile accounts. Cancelled cheques serve as proof of payment, providing evidence of funds transfer in case of disputes or discrepancies.
- Security: Cheques are a secure form of payment as they require a signature. Additionally, they can be made payable to specific recipients, reducing the risk of fraud.
- Budgeting: Writing a cheque can help individuals and businesses manage their finances by tracking expenditures and ensuring funds are available before making payments.
- Establishing Credit: Using cheques responsibly can help individuals and businesses establish credit history, which may be beneficial when applying for loans or credit lines in the future.
- Vendor Acceptance: Many businesses and vendors accept cheques as a form of payment, providing flexibility for customers who prefer this method over electronic payments.
- Overdraft Protection: Protect yourself from overdrawing your account with approved overdraft protection services.
- Multiple Signatories: Enhance control and security with the ability to designate multiple signatories for your account. This feature is ideal for companies requiring authorization from multiple partners or managers for transactions (Documents are required for all signatories).
- Customer Support: Connect with our experienced customer support representatives on 592 624-0828, +592 728-0828 or via email on [email protected] for assistance with general account-related questions or concerns