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Banking, insurance and mutual funds sectors of the global corporate world meet and prosper in the Caymans, which are home to more than 600 different banks. Most of the world's offshore hedge funds are based here, and highly sophisticated banking and investment services are the bread and butter of the Cayman economy. First Caribbean International Bank, Scotia Bank, Royal Bank of Canada, Bank of Butterfield, Cayman National Bank, and hundreds of others are here, and most offer checking, savings, and ATM accounts in either US or CI currency.

Although there are so many banks in the Caymans, only a few are certified by the government to do full service retail banking. Those include Barclays' Bank, Bank of Butterfield, Cayman National Bank, CIBC Banks & Trust, Royal Bank of Canada and the Bank of Nova Scotia. All are located in or near George Town, but ATM machines can be found everywhere.

Banks in the Caymans operate on the basis of knowing their customers, according to local regulations, and you will need to provide personal information before you can open an account. Such information may include letters of reference from other financial institutions that you have banked with for three years or more, six months of bank balance records, letters of reference from accounting firms, and a notarized copy of your passport or driver's license. If you are prepared to be interviewed by the bank and to provide satisfactory documentation of your identity, you will be invited to enjoy some of the best retail or business banking services on the planet.

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