Category: Banking

Finding the right bank that meets all of your needs does not have to be difficult. Your reasons for choosing the right bank, will determine what account or banking service is right for you. In our banking guide, we will look at the different types of financial institutions, identify the various accounts, talk about interest rates and examine some of the available banking products and services.

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Banking

Why You Should Compare Savings Accounts

Sometimes it feels like my savings are going nowhere. I sock away a reasonable chunk of my salary, but it’s not really moving upwards as I would like. I mean, I bank my hard earned dollars hoping to get the best returns possible and grow my savings. But nothing. I’ll admit that one personal finance […]

What is a Commercial Bank_ - Foodica
Banking

What is a Commercial Bank?

A commercial bank is a financial institution that provides several financial services. Financial services are varied but fall into the broad categories of deposits, loans and investments. These financial services are offered to the banks’s main customers – individuals, institutions and businesses. Role of the Commercial Bank The primary function a commercial bank is to […]

CIBC First Caribbean International Bank - Foodica
Banking

CIBC First Caribbean International Bank

CIBC First Caribbean International Bank is a financial services entity in Barbados, which offers services in Corporate Banking, Retail Banking, Wealth Management, Credit Cards, Treasury Sales and Trading and Investment Banking. CIBC First Caribbean International Bank is a subsidiary of the Canadian Imperial Bank of Commerce. History The entity was formed in 2002 as FirstCaribbean […]

why i closed my bank account
Banking

Why I Closed My Bank Account After Two Years

I closed my bank account because I was fed up with an annoying bank fee. I know that this might not be the best solution for everybody, but it definitely is the most effective. Banks charge for everything under the sun, and if the government imposes additional fees on them, you can be sure that […]

Making the Switch to a Credit Union - Foodica
Banking

Making the Switch to a Credit Union

Making the switch to a credit union, is a step that thousands of people around the world take annually. The credit union is seen as a healthy alternative to the traditional commercial bank because of its positive promotion as a community local bank that belongs to its members. However, before you decide to dump your […]

Things to Consider When Choosing a Bank Account - Foodica
Banking

Things to Consider When Choosing a Bank Account

With so many banking options available these days, people should be willing to shop around find the best options. It does not matter if you are looking for your first bank account or looking to switch financial institutions, because the process should be same. There are so many things to consider when choosing a bank […]

How to Claim Funds in a Dormant Bank Account
Banking

How to Claim Funds in a Dormant Bank Account

The other day I read a strange story in a local newspaper here in Barbados. One of the local commercial banks, CIBC First Caribbean published a list of dormant bank accounts with accumulated savings of over BDS $830,000 (USD $415,000). I’ve seen these type of lists before and they can easily take up a couple […]