Banks in The Cayman Islands
As one of the world’s most important financial centres, the Cayman Islands are home to literally hundreds of banks. As far as retail banking is concerned, six local banks offer personal banking services:
- Butterfield Bank (Cayman) Ltd
- Cayman National Bank Ltd
- Fidelity Bank (Cayman)
- First Caribbean International Bank (Cayman)
- Royal Bank of Canada
- Scotia Bank and Trust (Cayman) Ltd
In addition, HSBC is set to open a branch in Grand Cayman in 2008.
Opening Hours for banks in The Cayman Islands
Operating hours for personal banking tend to be 9am – 4pm, Monday to Thursday, and 9am – 4.30pm on Fridays. However, some banks open until 6pm, and some on a Saturday morning.
Banking Services
The clearing banks offer the services you would expect from a mature, safe banking environment. These include deposit, savings and checking accounts, credit cards, foreign exchange, letter of credit, and financing including loans and mortgages.
Opening of a bank account
The rules governing the opening of a bank account have become more stringent in Cayman just as in many other countries. The banks operate a very strict ‘know your customer’ policy. You will therefore be asked to provide a significant amount of personal information to prove your identity.
The list of information required may include:
- A financial reference provided by your bank and addressed to the bank you are dealing with, confirming a satisfactory relationship of over three years, and quoting average balances maintained over six months.
- Your full name, residential address, telephone number, nationality, date and place of birth, occupation, name and address of employer.
- Details regarding the purpose of the account.
- The nature and dollar volume of anticipated transactions through the account, including the source of initial and subsequent deposits.
- A notarised clear copy of your passport or driver’s licence.
- Confirmation of physical address, such as utility bill.
Many banks also require original character references from a law or accounting firm
Butterfield Bank (Cayman) Ltd
Address: Butterfield House, 68 Fort Street, Grand Cayman
Mailing Address: PO Box 705, Grand Cayman KY1-1107
Telephone: (345) 949 7055
Fax: (345) 949 7004
Email: info@butterfieldbank.ky
Website: www.butterfieldbank.ky
Branch Locations:
- Central George Town, 1 Butterfield Place, Grand Cayman (345) 815 7503
- Compass Centre, 19 North Sound Road, Grand Cayman (345) 815 7504
- Governor’s Square, 23 Lime Tree Bay Avenue, Grand Cayman (345) 815 7529
ATM locations:
- Central George Town branch
- Compass branch
- Governor’s Square branch
- Ritz-Carlton hotel
- Butterfield House, Fort Street
- Bayshore Mall, opposite South Terminal
- Hurley’s Marketplace, Grand Harbour
Cayman National Bank Ltd
Address: Cayman National Building, 200 Elgin Avenue, Grand Cayman
Mailing Address: PO Box 1097 Grand Cayman KY1-1102
Telephone: (345) 949 4655
Fax: (345) 949 7506
Email: cnb@caymannational.com
Website: www.caymannational.com
Branch Locations:
- 200 Elgin Avenue, George Town, Grand Cayman (345) 949 4655
- 54 Edward Street, George Town, Grand Cayman (345) 949 6344
- Buckingham Square, 720 West Bay Road, Grand Cayman (345) 949 7137
- Centennial Towers, 2454 West Bay Road, Grand Cayman (345) 946 3334
- Countryside Shopping Village, 33 Hirst Road, Savannah, Grand Cayman (345) 949 4655
- 14 West End Cross Road, Cayman Brac (345) 948 1551
- 898 Guys Road, Blossom Village, Little Cayman (345) 948 0051 (Mon & Thurs only)
ATM locations:
- Foster’s Republix, West Bay Road
- Foster’s Strand, West Bay Road
- Buckingham Square branch, West Bay Road
- Kirk Supermarket
- Edward Street branch
- Cayman National Building branch, Elgin Avenue
- Foster’s Centre, Airport
- Airport
- Texaco Star Mart, Savannah
- Texaco Star Mart, Walker’s Road
- Marquee Plaza, Seven Mile Beach
- Centennial Towers branch, West Bay Road
Fidelity Bank (Cayman)
Address: Dr Roy’s Drive, George Town, Grand Cayman
Mailing Address: PO Box 914, Grand Cayman KY1-1103
Telephone: (345) 949 7822
Fax: (345) 949 6064
Email: bank@fidelitycayman.com
Website: www.fidelitycayman.com
Branch location:
- 36A Dr Roy’s Drive, George Town, Grand Cayman (345) 949 7822
- Marquee Plaza, Seven Mile Beach, Grand Cayman
First Caribbean International Bank (Cayman)
Address: Main Street, George Town, Grand Cayman
Mailing Address: PO Box 68 Grand Cayman KY1-1102
Telephone: (345) 949 7300
Fax: (345) 815 2292
Website: www.firstcaribbeanbank.com/where.html#cayman
Branch Locations:
- Main Street, George Town, Grand Cayman (345) 949 7300
- Plaza Venezia, North Sound Way, George Town, Grand Cayman (345) 949 9706
- Safehaven, West Bay Road, Grand Cayman (345) 945 2300
ATM locations:
- Main Street branch, George Town
- Plaza Venezia branch, George Town
- Safehaven branch, West Bay Road
Royal Bank of Canada
Address: 24 Shedden Road, George Town, Grand Cayman
Mailing Address: PO Box 245 Grand Cayman KY1-1104
Telephone: (345) 949 4600
Website: www.rbcroyalbank.com/caribbean/cayman
Branch Locations:
- 24 Shedden Road, George Town, Grand Cayman (345) 949 4600
- Queen’s Court Plaza, West Bay Road, Grand Cayman (345) 949 6386
ATM locations:
- Shedden Road branch, George Town
- Queen’s Court Plaza branch, West Bay Road
Scotia Bank and Trust (Cayman) Ltd
Address: 6 Cardinall Avenue, George Town, Grand Cayman KY1-1107
Mailing Address: PO Box 689, George Town, Grand Cayman
Telephone: (345) 949 7666
Fax: (345) 945 3694
Email: scotiaci@candw.ky
Website: www.scotiabank.com/ky/cda/index/0,,LIDen,00.html
Branch Locations:
- 6 Cardinall Avenue, George Town, Grand Cayman (345) 949 7666
- Foster’s Airport Centre, Airport Industrial Park, Grand Cayman (345) 949 7666
- Strand Shopping Centre, West Bay Road, Grand Cayman (345) 945 7066
ATM locations:
- Cardinall Avenue branch, George Town
- Foster’s Airport Centre branch, Airport Industrial Park
- Strand Shopping Centre branch, West Bay Road
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