CIBC FirstCaribbean has announced the launch of its new payment solution for business owners, the CIBC FirstCaribbean bizlineTM Visa Business Debit Card. Saint Lucia is one of the first markets in the Caribbean to provide the new product, made available to customers as of July 18th.
The card has been designed exclusively for owners of small and medium-sized businesses to allow them to conveniently make business purchases and payments using funds deducted directly from their linked business bank account at CIBC FirstCaribbean. Using the card, customers will be able to make business purchases and payments wherever Visa cards are accepted, whether locally or internationally.
Cardholders will also be able to better manage and track their finances as receipts will be provided for each purchase and all their transactions will be detailed on their account statements, which they can monitor via CIBC FirstCaribbean’s free Internet banking service. Cardholders will also enjoy built-in insurance protection on their purchases as well as protection from unauthorised charges.
According to the Director of Business Banking, William Wright, the card will provide customers with an additional channel to better manage their business funds with more convenience and more control, at a lower cost.
“The introduction of the card aligns with the bank’s overall strategy for 2016 and beyond, to grow the business while transforming the banking experience of its customer. The card enhances CIBC FirstCaribbean’s business banking product suite. Customers are invited to visit their nearest branch to learn if this card is ideal for them or they can speak to their Business Banking Officer to obtain the card. There is no application fee and no credit application is needed.”
A service fee of US$6 is payable monthly. Should one choose to apply for the card before September 30th, CIBC FirstCaribbean will waive the service fee for the first three months. The bank is also offering a chance to win a return airline ticket to Miami!