Optimizer Account

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Optimizer Account

Invest and enjoy the best of both worlds

Our Optimizer account is specially designed for the serious investor who needs the flexibility of attractive interest and regular monthly transactions.

If you are a serious investor who needs the flexibility of earning competitive interest and regular monthly transactions, then Optimizer is ideal for you!
Interest is calculated daily and paid quarterly.

Here are the features of your Optimizer account: Here are the benefits of your Optimizer account:

FREE OneCard (VISA Debit) Optional

Convenience of 24-hour access to your account via the Blue Machine - one of the largest ABM network locally

Flexibility of paying for goods and services at merchants nationwide - no need to carry cash!

Immediate access to funds in an emergency

Free and instant access to your account(s) with RepublicOnline

FREE trendy OneCard Wallet

Protects your OneCard from damage

Convenience and flexibility of cheque writing

FREE Quarterly Statements

No need to leave home! Access your account via touch-tone phone to:

  • check account balance
  • transfer funds from one account to another
  • pay utility bills as well as select bills, for example, LIME or Digicel, etc

Flat monthly service fee

To keep track of your account balance

Unlimited Transfers

Perform unlimited transactions each month - Blue Machine or Republic Bank Point of Sale merchants, at no additional cost

 

Regular monthly payments are hassle-free!

No charges for standing orders to other Republic accounts
  • You can conduct unlimited transactions for a flat monthly service fee of $7.50
  • You receive 7 free cheques per month, thereafter they will be a fee of $1.50. These fees will be applied on the last working day of the month.

    • Cost of ABM transactions at other banks:
  • Cash withdrawal - $3.00
  • Balance enquiry - $1.25
Teller fee of $2.00 apply to transactions less than $2,000.
What you will need

Before visiting our branches, ensure you have the following documents:

New to Republic Bank?

ID Verification
Minimum of one of the following documents:
National ID card
Passport
Driver’s license* (only accepted with another form of valid photo ID)

Address verification
Utility bill (not older than 3 months) excluding cell phone
Other Bank statement (excludes credit union statements or statements from other types of financial institutions)
Official Government/Tax document (i.e; correspondence from BRA or NIS)
Rental agreement or contract from Landlord
Circumstances where the person applying for the account does not have utility bills in his/her name. The Bank will provide an authorization letter for completion by the individual in whose name the bills are generated.

Proof of Income/Employment
If employed (job letter or most recent pay slip)

Self-employed
Up-to-date Audited Financial Statements (for the last three (3) years ) OR
Statement of Affairs and Statement of Income & Expenditure
For a start-up entity *An opening Balance Sheet & Cash Flow projections (three (3) years)
*Start-up entity refers to entities which have been in operation for less than three (3) years.

For Non-Residents/Non-Nationals only
The following additional documentation is required:
Foreign Banker’s Reference OR Bank Statement (within the last 3 months)

Self-employed
Utility Bill confirming permanent foreign address
Work Permit /CSME Certificate OR Other official document granting permission for employment
Missionary Permit/ Student Visa/ Letter of enrollment or acceptance from educational institution in Barbados (for Students only)
*Additional documents may be required depending on the nature of your application.

Existing Republic Bank customer (If Remediated)

Two (2) forms of Identification
The required amount to open the account

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