The issue affecting the BCB Mobile Banking App has now been resolved.
If you continue to experience issues accessing the app, please ensure you have updated to the latest version. If the issue persists, please delete and reinstall the app.
If you require assistance, please contact our Client Services team at [email protected] or (441) 295-5678.
Thank you for your patience and understanding.
Bermuda Government Mortgage Guarantee Programme
Please allow 2 business days for review of your details, following which a representative will be in touch.
Programme Criteria
- Be an individual persons or persons; and
- Have Bermudian status or be a spouse of a Bermudian, if borrowing jointly with their Bermudian spouse;
- Not own any Bermuda real property; or
- Be a Public Officer (subject to probation period being successfully completed), having an existing mortgage (or first legal charge) with another licensed Bank in Bermuda.
- Have at least 10% of purchase price of the property or at least 10% of the cost of the renovations (if only renovations) in cash in a Bermuda bank account.
- Have a property valuation within 3 months prior to purchase.
- Have a property estimate or quote setting out the proposed renovations, cost and an appraisal outlining the completion value within programme limits, should renovations be required.
- Written confirmation from Tax Commissioner that no government fees are outstanding (speak with Relationship Manager).
- Loan to Value ratio and debt service ratio within programme limits.
- Loan secured by way of a first legal mortgage of the property being purchases or transferred (for the full amount of the loan).
Additional Requirements
- For BMD $900,000 or less excluding Fees
- Renovations up to BMD $50,000 may be included with the purchase. If included they must not exceed $900,000 for the total loan.
Interest Rates, Terms & Fees
- Have a discounted interest rate while the borrower is a participant under the programme:
- Discounted interest rate of BCB Base Rate plus 2%.
- Loan interest rate to revert to standard interest rate when borrower no longer falls under the programme. - Will have a maximum term for a loan under this programme of 360 months (or 30 years)
- The Guarantee under this program will remain for a maximum of 10 years or less depending on alternate terms.
- Fees:
- Discounted Arrangement Fee of 0.75% of the total value of the loan amount. Normal legal fees and stamp duty apply (even if this increases the total loan amount over the BMD$900,00 so long as the base loan amount does not exceed BMD$900,000).
- A completed online Loan Request Form or BCB Personal Financial Statement
- Verification of employment and salary
- Three months of bank and credit card (if applicable) statements
Bermuda Government Mortgage Guarantee Programme
Please allow 2 business days for review of your details, following which a representative will be in touch.
Programme Criteria
- Be an individual persons or persons; and
- Have Bermudian status or be a spouse of a Bermudian, if borrowing jointly with their Bermudian spouse;
- Not own any Bermuda real property; or
- Be a Public Officer (subject to probation period being successfully completed), having an existing mortgage (or first legal charge) with another licensed Bank in Bermuda.
- Have at least 10% of purchase price of the property or at least 10% of the cost of the renovations (if only renovations) in cash in a Bermuda bank account.
- Have a property valuation within 3 months prior to purchase.
- Have a property estimate or quote setting out the proposed renovations, cost and an appraisal outlining the completion value within programme limits, should renovations be required.
- Written confirmation from Tax Commissioner that no government fees are outstanding (speak with Relationship Manager).
- Loan to Value ratio and debt service ratio within programme limits.
- Loan secured by way of a first legal mortgage of the property being purchases or transferred (for the full amount of the loan).
Additional Requirements
- For BMD $900,000 or less excluding Fees
- Renovations up to BMD $50,000 may be included with the purchase. If included they must not exceed $900,000 for the total loan.
Interest Rates, Terms & Fees
- Have a discounted interest rate while the borrower is a participant under the programme:
- Discounted interest rate of BCB Base Rate plus 2%.
- Loan interest rate to revert to standard interest rate when borrower no longer falls under the programme. - Will have a maximum term for a loan under this programme of 360 months (or 30 years)
- The Guarantee under this program will remain for a maximum of 10 years or less depending on alternate terms.
- Fees:
- Discounted Arrangement Fee of 0.75% of the total value of the loan amount. Normal legal fees and stamp duty apply (even if this increases the total loan amount over the BMD$900,00 so long as the base loan amount does not exceed BMD$900,000).
- A completed online Loan Request Form or BCB Personal Financial Statement
- Verification of employment and salary
- Three months of bank and credit card (if applicable) statements
General Security
Security and privacy are important considerations in our daily lives. Many of us by now probably understand the importance of ensuring that the websites we visit are secure when entering data and also making sure that links in emails go to secure websites.
Phishing and Vishing
It is important to note that Bermuda Commercial Bank Limited (“BCB”) will NEVER ask you for your personal information or account details via telephone call, email, text, WhatsApp, or any other electronic means. If you ever doubt the legitimacy of any email claiming to originate from BCB, please contact Customer Experience at +1 (441) 295-5678 or forward it to [email protected]. BCB is continuously working to ensure your security against phishing schemes.
What are phishing and vishing?
Phishing is a scam in which fraudsters impersonate a trustworthy
organization, like the bank, to steal sensitive information like
usernames, passwords, and credit card details. They send these
with the aim of tricking you into providing personal or
security-related information.
Phishing is usually
carried out by email, text message, or instant messaging (also
known as smishing) and often directs you to enter details on a
fake website that looks almost identical to the real one;
however, some phishing scams are able to create pop-ups that
appear while you are using a banking site.
Vishing is
a type of phishing scam that happens on the phone. The word
vishing is a combination of the words voice and phishing.
Scammers will call your cell or landline, posing as your bank,
to steal your info or get you to transfer money. They may
already have some of your personal information, such as your
name or address, to make them seem more convincing.
Emails
You may receive emails directing you to websites that ask you to enter your personal information. Many email scams aim to direct you to spoofed sites that mimic the real thing. When you click a link or enter personal info, your bank or other service providers don’t get the data. This means that someone else may be able to access your accounts.
Phone calls
Be careful of unsolicited calls from people claiming to be from the bank or another business, especially if they ask for your login or card info.
How to spot a phishing email
- Is the greeting personal? Do they address you as sir, madam, or customer? A genuine email would normally address you by your full name.
- Check the grammar and spelling. For instance, are there any spelling errors or grammatical issues? Such errors can be a clear indication of a fraudulent email. A real bank or company would not make mistakes like this: “Their seems to be a money taken from you’re account. Move to safe account asap.”
- Beware of links, email attachments, or prompts to download any antivirus software.
- Is there a sense of urgency in the email? Scammers often use scare tactics to instill fear in you, leading you to act without thorough consideration. By taking a moment to think whether the email is genuine, you can stop yourself from playing into the fraudster’s hands.
BCB will never…
- Send you an unanticipated email or text message containing a link to a login page.
- Make telephone calls that ask you to provide updates or confirm sensitive data like your account number, passcode, or security details.
- Come to your home to collect your payment card or password.
- Contact us immediately if any of the above happens to you.
BCB will…
- Ask you to enter your User ID and Password when logging onto your accounts online through our internet banking facility.
- Ask you to confirm your transaction details when doing client call backs to confirm transactions. You may also be asked some additional personal or account-related information.
- Send you emails, i.e., e-news, with information or promotions about our products and services across our group of businesses.
What to do?
- Never give out your security information, such as your user IDs, passwords, or account or card details, to unexpected callers or email requests.
- If you receive an email or text message that asks for your personal information, do not click on any links or provide any security details. Please forward suspicious emails or details of text messages that ask for your personal information to [email protected] and then delete them from your inbox without responding.
- Check your bank statements on a regular basis. Please reach out to us promptly if you observe any unusual transactions.
- Never hand over your bank card or PIN to someone or anyone who comes to your home address. Only a fraudster would ask you for your card or PIN.
- Protect yourself and your computer by having up-to-date antivirus software, operating systems, and firewalls.
