40 and Over Club Account Holders
Dear 40 & Over Club Account Holder:
As of October 1, 2021 the 40 & Over Club account will no longer be offered by ACB Caribbean. All qualifying 40 & Over Club accounts will be re-categorized into our new Freedom 55 savings product, an attractive age based account tailored for individuals 55 years and over.
Freedom 55 offers a range of benefits designed to fit the needs of our maturing clientele. As a Freedom 55 account holder you will benefit from:
- A preferred annual interest rate of 2.10%, paid quarterly;
- Preapproved credit card;
- 50% discount on annual credit card fees;
- 50% discount on purchase of local drafts;
- 50% discount on standing order fees.
The re-categorization will be based on the age of the primary account holder, and the current balance on the account, as follows:
- Customers 50 years old and older with balances $10,000 and above will automatically transition to the new Freedom 55 account.
- Customers 50 years old and older with balances less than $10,000 will be transferred to a regular savings account.
- Customers 40-49 years old, will be transferred to a regular savings account.
All account numbers remain the same.
Freedom 55 requires a minimum opening balance of $10,000 which must be maintained throughout the life of the account. If the balance falls below the minimum, the account will be treated as a regular savings account and all benefits paused. Benefits will be reactivated once the balance increases to the minimum requirement.
If you have any questions about this new product or the change in your account name please send an email to acb@acbonline.com.
Thank you for banking with ACB Caribbean.
