"Navicuenta" Christmas Savings Account



Plan your Christmas and New Year festivities well beforehand with this special savings account

Features:

  • You can deposit any amount you wish on a monthly basis in this account.
  • This account remains frozen until December (as of the first business day of said month) when funds are made available.
  • Only private individuals are eligible for this type of account.
  • The "Navicuenta" Christmas Savings Account can be opened with the following minimum amounts:
    • Panamanian private individuals: $25.00.
    • Foreign-born non-resident private individuals: $3,000.00.
    • Foreign-born private individuals resident in Panama: $1,500.00.

Benefits and services:

  • Interest accrues on a one-time basis at the end of the year, providing a minimum balance of $25.00 is maintained.
  • You can check on your account via:
    • Our on-line banking facilities for personal accounts.
    • Our dedicated Help Line

Requirements for opening accounts:

Checking and savings accounts along with fixed-term deposits

In order to open a deposit account you must present the following documents:

Panamanian private individuals:

  • Original ID Card
  • Second valid ID document (driving license, Social Security Card, Employment Card).
  • A banking reference or verifiable personal references.
  • A completed account application form.

Foreign-born non-resident private individuals:

  • Original passport
  • Resident permit or green card.
  • 2 banking references, one of which must attest to a minimum of two years with said bank.
  • Proof of income or evidence supporting the origin of the funds to be deposited
  • A completed account application form.

Foreign-born private individuals resident in Panama:

  • Original passport
  • Second valid ID document (driving license, Social Security Card, Employment Card).
  • A banking reference
  • A completed account application form.

Should these documents be issued abroad they must be duly apostilled or authenticated by an embassy or consulate.

The Bank may request other documents in addition to those stated above.

Accounts can only be opened subject to the Bank´s approval

FAQs

¿Can I withdraw funds from my "Navicuenta" Christmas Savings Account before December?

No, this account can only be drawn on as of December of each year.

¿Can I continue to use the same account year after year?

Yes, you can withdraw funds from your "Navicuenta" Christmas Savings Account in December and continue saving the following year without having to open a new account and using the same account number.

¿Does the "Navicuenta" Christmas Savings Account require a minimum monthly balance for interest accrual purposes?

Yes, an average minimum balance of $25.00 per month must be maintained

¿How much does the Bank charge for its services?

For more information on banking charges please consult the following sections:

  • Tariffs
  • Important Notices
  • Tools