Banesco expands to Puerto Rico.

Banesco USA headquarters in Miami. Banesco USA has launched BanescoSelect, a new premium banking tier, in Puerto Rico. (banescousa.com)

By THE STAR STAFF

Banesco USA has launched BanescoSelect, a new premium banking tier, in Puerto Rico, expanding a service it says has been successful in South Florida and international markets.

The Florida-based bank described the offering as a more customized option for individuals, families and businesses seeking relationship-driven service alongside digital banking tools.

BanescoSelect is built around a “client-centric” model, with banking, lending and treasury services intended to scale as clients’ finances become more complex, according to the company.

“Our clients expect more than financial services -- they expect a trusted partner who understands their vision,” said Calixto García-Vélez, president and CEO of Banesco USA. “This new offering reflects our commitment to delivering personalized banking experiences that adapt to our customers’ evolving needs.”

The bank said the tier is aimed at high-net-worth individuals and families, professionals, entrepreneurs and companies, including commercial real estate investors, wholesalers and manufacturers.

Under the model, each client is assigned a relationship manager as a primary point of contact. Banesco USA said managers will also coordinate access to specialists in banking, lending and treasury management when needed.

Carlos Eduardo Escotet, a director at Banesco USA, said the company is bringing the model to Puerto Rico after what it called strong results in South Florida and other markets.

“Our approach goes beyond banking -- it’s about understanding each customer’s vision and delivering solutions that integrate seamlessly into their lives,” he said.

Banesco USA said the Puerto Rico rollout is intended to combine relationship-based service with digital tools and a broader bench of financial specialists.

“Our commitment has always been to stand alongside our customers, anticipating their needs and delivering solutions that truly make a difference,” said Maritza Abadía, Banesco USA’s president in Puerto Rico. “We are confident the program’s features, flexibility and customer-centric design will help individuals and businesses achieve their financial goals.”

According to the bank, BanescoSelect includes higher transaction limits, personalized rewards and expanded digital access for customers with international or high-volume needs.

The program also includes lending products such as commercial real estate loans, owner-occupied credit facilities and working-capital lines of credit, the company said.

For business customers, Banesco USA said services include tools to manage payables and receivables, improve cash-flow visibility and support integrations with accounting platforms such as QuickBooks. Other offerings cited include wire transfers, Visa purchasing solutions, merchant services, lockbox services and remote deposit capture.

The bank said the package also includes fraud-monitoring tools such as Positive Pay, transaction controls and two-factor authentication.

Banesco USA also highlighted its commercial real estate lending services, including financing and advisory support for multifamily, industrial, retail and office properties.