Frequently Asked Questions (FAQ)
a leading global bank supporting customer relationships in 150 countries
As the largest global bank in the entire region, NIB&T has an efficient account application process: Submit Bank Account Application Forms online (personal visits to the Bank are always welcome but not required). All documents are submitted electronically and no original documents are accepted. English translation is required if the submitted documents are not in English.
The Bank Has A Worldwide Clientele, Supports Customer Activities in More than 150 Countries: The Bank serves a large individual and corporate client base from the U.S., Canada, Europe, Asia Pacific, Caribbean, Africa, South and Central America, and other regions.
Customer Deposits in 9 Different Currencies: The Bank accepts customer deposits and transacts in multiple currencies: USD, EUR, GBP, CHF, AUD, CAD, JPY, SGD, HKG through SWIFT (SWIFT code: NIBTKNNE). Customer deposits can also be converted into any desired currency.
Transfer Existing Investment Portfolios to the Bank: NIB&T’s customers can also transfer their existing investment portfolios such as stocks, bonds, mutual funds and other instruments to the Bank.
The Bank has NO account application fees, No monthly or annual account maintenance fees, and NO minimum balance fees. NIB&T opens 3 types of bank accounts:
(1) Personal Account: The minimum initial deposit to open an account is US$50,000. No minimum maintenance balance is required after the initial deposit is made.
(2) Private Banking Account: Private banking clients have dedicated private bankers offering tailored solutions and services 24/7. A minimum initial deposit of US$1,000,000 and/or investment portfolios are required.
(3) Business Account: The Bank opens business accounts for all types of entities registered in many jurisdictions worldwide (Corporations, LLCs, LLPs, Foundations, Trusts, Partnerships, SPACs etc.). All entities use the same set of business account application forms. The minimum initial deposit to open an account is US$100,000. No minimum maintenance balance is required after the initial deposit is made.
A One Stop Solution Bank: New Business Registration + New Business / Personal Bank Accounts + St. Kitts and Nevis Economic Citizenship + Privacy: The Bank assists customers in forming new entities in Nevis or in other approved jurisdictions through third party service providers. New entities may apply for bank accounts.
The Bank is also the only Escrow Agent bank in Nevis authorised by the St. Kitts and Nevis government to facilitate local real estate developers and real estate agents relating to the St. Kitts and Nevis Citizenship by Investment (CBI) program.
The Bank also maintains robust insurance policies protecting the Bank and its customers against errors and omissions, ensuring the safety of customer deposits.
The Bank typically opens customer bank accounts in less than 10 days after an application is accepted by the Bank. An approved customer must make the required minimum initial deposit within 5 business days after an account is opened.
Customer Acceptance Standard: The Bank follows customer acceptance compliance protocols through the Bank’s formal engagements with prominent third-party due diligence experts such as Kroll Inc., which is the world’s largest compliance adviser trusted by global banks and governments. NIB&T pays such service providers significant upfront fees to pre-qualify each prospective customer.
Fees: The Bank has NO account application fees, No monthly or annual account maintenance fees, and NO minimum balance fees. There is a one-time, third-party due diligence charge to reimburse the Bank for its upfront costs associated with a successful customer approval, payable to the Bank only after an account is opened and ready to transact business. If the Bank is unable to approve an account application for any reason, the account applicant owes the Bank nothing.
Protect Customer Privacy: The Bank maintains strict confidentiality for all relationships regardless if they are the Bank’s customers. Nevis has one of the best privacy laws in the world.
Banking with NIB&T is simple, efficient and transparent. Apply for a bank account.
The Bank Serves Some of the World’s Most Successful Families and Entities: NIB&T’s customers are all types of sophisticated institutions such as corporations, foundations, trusts, LLCs, LLPs etc. domiciled in many countries around the global, as well as ultra-high-net-worth individuals and large family offices worldwide.
Why Banking with NIB&T? The Bank’s customers seek efficient, modern, reliable, and hassle-free banking services offered by a strong and reputable global bank operating at the “speed of Wall Street” – with a high degree of credibility, efficient multi-currency wire payments to more than 150 countries worldwide, spotless regulatory compliance, and is located in a top English-speaking British Commonwealth nation totally committed to customer privacy. NIB&T is proud of satisfying customers.
About Saint Kitts and Nevis: First discovered by Christopher Columbus in 1493, St. Kitts and Nevis was the British Empire’s capital in the region for several centuries. Located a short flight from Florida USA, Saint Kitts and Nevis is a successful British Commonwealth country with a highly developed economy, a tax-free jurisdiction, a democratic government, and a respected and independent judiciary enriched by a deep British heritage and close friendship with the United States, EU, Canada, and the UK. The home of America’s founding father Alexander Hamilton in 1755, Saint Kitts and Nevis has established itself as one of the premier jurisdictions for rigorous regulatory compliance practices.
Founded by prominent British banking and legal experts based in London, Nevis International Bank & Trust (“NIB&T”) is a fully regulated leading global banking conglomerate headquartered in Saint Kitts and Nevis, an English-speaking British Commonwealth country located a short distance south of Florida USA. The Bank serves a large and distinguished clientele from around the world.
NIB&T engages in four business lines: Banking, Trust & Escrow, NYSE-listed Asset Management ETF, and Capital Markets. The Bank is also a Saint Kitts and Nevis government-approved Escrow Agent bank, as well as a licensed International Marketing Agent duly authorized to assist local real estate developers and agents relating to the government’s Citizenship by Investment Program (CBI or CIP).
NIB&T’s Asset Management ETF affiliate trades on the New York Stock Exchange (NYSE stock symbol: VSL), and its investment assets are held through U.S. Bancorp, the 6th largest American bank. In 2019, VSL was the No. 1 ranked (Lipper ranking) large cap ETF in the entire U.S. market, up more than 40%. VSL is also a top 10 ranked Large Cap ETF as of August 2020, outperforming 1,300 other funds in its category in the U.S.
NIB&T’s Asset Management affiliate Whitford Asset Management LLC is an investment adviser fully regulated by the U.S. Securities and Exchange Commission (SEC).
The Bank also holds client assets through Wells Fargo Bank, Citibank and others around the world. NIB&T has a solid compliance program jointly developed and implemented with Kroll, the world’s largest compliance adviser. NIB&T enjoys and maintains a spotless regulatory compliance record with worldwide regulators. The Bank has never been the subject of any regulatory actions.
Nevis International Bank & Trust has a pristine regulatory history certified annually by Grant Thornton. The Bank has never been the subject of any disciplinary action by any regulatory body in the world. The Bank adopts, applies and follows KYC, AML and other well-established international guidelines on client due diligence and acceptance protocols.
Press Release: NIB&T and Kroll in Global Alliance on Best Compliance Practices.
Banking with NIB&T is simple: The Bank does not accept cash or checks. All bank wire transactions are conducted via SWIFT. The Bank currently serves customers in multiple currencies: USD, EUR, GBP, CHF, AUD, CAD, JPY, SGD, HKD.
NIB&T’s SWIFT details are as follows:
SWIFT Name: Nevis International Bank & Trust Ltd.
Address: NIBT Center, Jessups Estate, Nevis, Saint Kitts & Nevis
SWIFT Code: NIBTKNNE
Contact the Bank for specific wire transfer instructions.
Making A Deposit: The Bank accepts incoming wires from around the world in more than 150 countries. In general, incoming wires take less than 2 business days to arrive at the Bank.
Making A Withdrawal: Outgoing wires, including third party wire payments can be self-directed online by customers through the Bank’s secure online portal. Bank officers may contact a customer for identity verification purposes. Outgoing wires can be processed within hours of a customer request.
The Bank is in full compliance with all applicable local and international regulatory standards. The Bank performs extensive and continuing due diligence on all client engagements in conjunction with Kroll, the world’s largest regulatory compliance adviser trusted by leading global banks and governments worldwide.
Saint Kitts & Nevis maintains full compliance and is held in high regard with all FATF/CFATF and OECD regulatory requirements with its rigorous AML and CFT regulatory system. The Bank maintains robust compliance programs and banking relationships with significant global financial institutions. The Bank supports customers’ banking activities in multiple currencies and processes SWIFT wire transfers to and from more than 150 countries.
Press Release: NIB&T and Kroll in Global Alliance on Best Compliance Practices.
Unparalleled Safety of Customer Deposits: All of the Bank’s customer deposits either remain in cash or are invested in sovereign bonds.
A No-Lending Policy, No Bad Loans: NIB&T does not extend customer credit therefore the Bank has no loan book. NIB&T’s customer deposits are never exposed to any credit risk. The Bank’s lending policy prohibits customer lending to ensure NIB&T has a zero loan default rate.
Rigorous Regulatory Oversight: The Bank is subject to rigorous regulatory oversight by the government regulators and strictly adheres to high compliance standards. The Bank’s external auditor is Grant Thornton, one of the largest independent public accounting firms in the world.
These policies not only simplify the Bank’s balance sheet but also provide the utmost safety of customer deposits.
Yes. The Bank’s customers have direct and secure online access to their accounts 24/7. To protect customer privacy, the Bank does not send physical client communications or hold mail.
A customer’s initial wire deposit automatically triggers online banking availability.
Global Banking, Trust & Escrow, NYSE- Listed Asset Management and Capital Markets: The Bank offers a wide range of banking, asset management, investments, wealth planning and other financial products and services to a large corporate and individual clientele worldwide.
Tailored Bank Trust and Escrow Solutions: The Bank provides tailored Trust and Escrow services including opening customer escrow accounts to facilitate specific transactions such as real estate or other deal closings worldwide.
Worldwide New Business Formation: The Bank regularly assists and advises clients on forming new business entities. The Bank is capable of forming new businesses in all proper jurisdictions.
A Leading Bank Advising the St. Kitts and Nevis Citizenship by Investment Program (CBI, CIP): The Bank is the only government-approved Escrow Agent bank in Nevis, and a government licensed International Marketing Agent fully authorized to advise on obtaining the St. Kitts and Nevis economic citizenship.