You may need to set up a local bank account if you'll be working from Barbados.  There are a number of banks here from which you can choose so you're sure to find the one that will meet your needs.  If your bank at home is a large international bank, this may help the account opening process to be easier for you if you open an international bank account here.

 

The banks operating here in Barbados are Republic Bank, CIBC FirstCaribbean International Bank, First Citizens Bank, Royal Bank of Canada and Scotiabank.

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Most banks offer current accounts, savings accounts and investment accounts and require you to provide 2 forms of identification one of which must be your passport and drivers licence or a birth certificate, proof of residential address in Barbados (eg. utility bill), reference letter  or bank statement from your existing bank and initial funding for the account.   

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We suggest you enquire about interest fees, whether a minimum initial deposit is required, whether there are any limitations on the account and whether there are any perks attached to the account

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Once your bank account has been opened you can set up direct debits or standing orders for recurring payments.  You'll also need to request online banking services with your bank account.

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For your convenience all banks here maintain Automatic Teller Machines (ATMs) across the island for convenient deposit and withdrawal of funds.  These ATMs can be found in shopping centres and banks.  Note however that there are daily and monthly withdrawal limits, so we suggest you enquire about this at the time of account opening as negotiation of the cost may be possible.

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