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Banking

National Bank of Dominica Ltd. (NBD)

Branch Manager Telephone: 767 255 2361	Ross Agency Supervisor Telephone: 767 255 2397
Enquires: studentqueries@nbd.dm
Bank Locations (in Portsmouth) NBD Ross Agency Picard Portsmouth, Commonwealth of Dominica NBD Portsmouth Branch, Michael Douglas Boulevard Portsmouth, Commonwealth of Dominica	ATM  Locations (in Portsmouth) NBD Portsmouth Branch NBD Ross Agency Ross Food Court Joseph Daverney's Supermarket
Visit: http://www.nbdominica.com/profile/branches.php

Introduction

National Bank of Dominica Ltd. is the premiere financial institution in Dominica.  We have the largest network of branches and ATMs on the island.  We welcome you to Dominica and have provided some useful information below, to help you get settled quicker and to make your banking experience easier.

WIRE TRANSFERS

The following are NBD's foreign correspondent banks for international wire transfers:

Incoming Transfers

Funds can be sent from your bank via one of the correspondent banks, listed above, to National Bank of Dominica Ltd., -
You will need the following information:      Swift code: NCDMDMDM
                                                                    Your NBD account number

Outgoing Transfers

 Transfers from Dominica are routed through one of the corresponding banks, listed above,   to your bank at home.  The following information should be presented to NBD in order to complete your transfer:

• The Routing, ABA, Swift, Sort Code or Transit number of your bank at home.
• The account number, name, and address of the person you are transferring the funds to.

*Transfers are processed within 24 hours.

OTHER FOREIGN TRANSACTIONS

You may also exchange or purchase Bank Drafts, Travellers’ Checks, and US, Canadian , Sterling, EURO and Barbados notes.

NOTE: There is a standard waiting period of 30 working days for credits of personal checks, cashiers checks and bank drafts. However for personal checks drawn on your US accounts, the waiting time can be reduced once you bring in proof of clearance of that particular check. This proof would include a copy of your statement showing that the check has been deducted from your account as well as a copy of the front and back of the check.

Travellers cheques, incoming wire transfers/checks drawn on Ross University's account and cash are available for immediate credit.

CASH ADVANCES/ ATM WITHDRAWALS

Our ATMs accept VISA, MasterCard, Plus and CIRRUS.  In-branch cash advances are accepted for VISA and MasterCard.   You must present the card and an ID in order to complete your transaction.

Note: cards may have daily withdrawal limits.
As a security measures, some banks may restrict the use of their cards internationally.  If you hold a card with restricted access, contact the issuer and notify them of your location.  Please note that your bank may charge a cash advance fee.

CONVERSION RATES

US conversion rates are fixed against the EC dollar and are as follows:

From USD to ECD:                                                    From ECD to USD:
Cash            US$1.00 = EC$2.67                              Cash, Checks and Wire Transfer
Checks:       US$1.00 = EC$2.6882                           US$1.00 = EC$2.7169

*Other currencies fluctuate daily.

NEW ACCOUNTS- Apply for a FastCHECK Account

The FastCHECK Account is a checking account designed for students.  Use this account to pay bills and manage your finances while you study. 

• Free Visa® Debit Card
• Easy access to your funds using ATMs (locally and internationally)
• Free and unlimited personalized checks (government stamp duty apply)
• One free monthly standing order to pay your landlord directly
• Low monthly service fee

Requirements:

1. Letter of Acceptance
2. Passport
3. Drivers License
4. A Completed Application Form
5. Initial Deposit Amount of US$10
   

*Form available for download on www.nbdominica.com (forms must be physically presented to the bank).

FAQ’s FREQUENTLY ASKED QUESTIONS

Funds can be deposited in the form of travellers’ checks, foreign cash, wire transfers or personal checks or cashier’s checks. However, all checks excluding Travellers checks and checks drawn on Ross University account are placed on hold for up to 30 working days before you can have access to the funds; if immediate access is required, Wire Transfers or Cash should be used.
Note: the waiting period for personal checks can be reduced if you provide proof of clearance by bringing in a copy of your statement and a copy of the front and back of the check.

Yes. We negotiate Canadian, US, EURO, Sterling and Barbados notes to and from EC currency.

Unlike other foreign currency checks, you will have immediate access to funds from Financial Aid checks. 

Travellers' checks, cashier’s checks or foreign notes may be purchased for use abroad.
In addition, your NBD debit card, is a VISA card and can be used internationally (anywhere VISA is accepted) to access funds from your account.

Your debit/ credit card (VISA and MasterCard) may be used at any of our ATMs on island. Also money can be wired into your account with us from your bank (see information on wire transfers above).  You may also write personal checks against your accounts back home and have them deposited; clearing period is 30 working days.

No. A transfer may be done to and from any financial institution, but it must be routed through our correspondent bank in your area.  Therefore, you must present your bank with the Swift codes of our correspondent banks.

1. Letter of Acceptance
2. Passport
3. Drivers License
4. A Completed Application Form
5. Initial Deposit Amount of US$10

No prior notice is required before closing your account and there are no charges for this transaction. However the monthly service fees will be deducted.

Yes you do, the forms will be available when you come. It is quick and easy, just present the following: 

1. Letter of Acceptance
2. Passport and School ID
3. Drivers License
4. A Completed Application Form
5. Initial Deposit Amount of US$10
   
   

There is a charge of EC$5.00 when you use your foreign VISA card at our ATMs.  We do not charge for foreign MasterCard transactions.  Your issuing bank may apply charges.  Before using your card, find out from your bank about their “cash advance” fee.

Yes, your account can be made jointly with your spouse . You can choose to have a joint account where either party has equal rights to the account or you can open an account where both parties are required to authorize a transaction.

Documents needed:

• Marriage certificate
• Your spouse’s passport and driver’s license
• Reference letter from bank
• Letter from Ross University indicating that your spouse will be accompanying you