Banking in Grand Cayman

From our travel guide

Grand Cayman's banking sector is one of the most developed in the Caribbean, reflecting the island's role as a global financial centre. Retail banks, private wealth managers, and trust companies all operate here, serving local residents, expats, and international clients. For everyday needs like current accounts, mortgages, and personal loans, a handful of retail banks cover the island with branches and ATMs.

The main retail banks include Butterfield Bank, Scotiabank, Cayman National Bank, and RBC Royal Bank. Most branches are concentrated in George Town, particularly along the waterfront and on Cardinal Avenue. Butterfield has branches in George Town, Camana Bay, and Governor's Square on Seven Mile Beach. Cayman National Bank has its headquarters on Elgin Avenue and branches in the industrial park and at Grand Harbour. Scotiabank and RBC both have George Town branches plus locations in Camana Bay. The eastern districts have fewer options, though Scotiabank has a branch in Savannah and some banks maintain ATMs in Bodden Town and East End.

The Cayman Islands Monetary Authority (CIMA) regulates banks and financial services firms. Opening a bank account as a non-resident or new arrival can take time; banks typically require proof of identity, proof of address, a reference from your existing bank, and sometimes a letter from your employer. The process is more involved than in the US or UK, so allow a few weeks and bring the right documents.

Cayman Islands Credit Union gives you another place to bank. Fees are less than what the big banks charge, and they cover savings, loans, and mortgages. ATMs are available at most bank branches and at busy locations like Owen Roberts Airport, Camana Bay, and major supermarkets. Most ATMs dispense CI dollars; US dollar ATMs are less common but can be found at some bank branches and the airport. Debit and credit cards work widely across the island.