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Antigua and Barbuda – Banking

Main Local Banks in Antigua and Barbuda

Antigua and Barbuda has several local banks, with the largest being:

Each of these banks offers a range of products and services, including current and savings accounts, investment services, and loans.

Presence of UK and USA Banks in Antigua and Barbuda

There are no major UK or USA banks with a presence in Antigua and Barbuda. However, some international banks, such as CIBC FirstCaribbean and RBC Royal Bank, offer services to clients in Antigua and Barbuda through their offices in neighboring countries.

Accounts and Services Aimed at Expats

While there are no specific accounts or services aimed at expats in Antigua and Barbuda, some local banks may offer services in English or other languages spoken by expats. In addition, some banks may offer the ability to hold multiple currencies, which can be helpful for expats who need to transfer funds to other countries.

Typical Bank Opening Hours

Banking hours in Antigua and Barbuda can vary depending on the bank and the location. Generally, banks are open from Monday to Thursday, from 8 am to 2 pm, and on Fridays, from 8 am to 4 pm. Some banks may have extended hours, and some branches may be open on Saturdays. It is always best to check with the bank directly for their specific opening hours.

Areas of Concern for Expats

Expats should be aware that Antigua and Barbuda has a relatively small banking sector, which may limit the range of services available. In addition, some banks in Antigua and Barbuda may require higher minimum balances or charge higher fees than expats are used to in their home countries. Expats should also be aware of the risk of fraud and scams, particularly when conducting online banking or transferring funds.


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Opening A Bank Account

Opening a bank account in Antigua and Barbuda is a straightforward process for expats. Here are the steps to follow:

  1. Choose a bank: Research the different banks in Antigua and Barbuda and choose one that offers services that suit your needs. Make sure to check whether the bank offers services in English or another language you speak fluently.
  2. Schedule an appointment: Contact the bank to schedule an appointment to open an account. Some banks may allow you to make an appointment online or over the phone.
  3. Prepare your documents: You will need to bring several documents to the appointment, including your passport or ID card, proof of residency in Antigua and Barbuda, and proof of income or employment. You may also need to provide additional documentation, such as bank statements or references from your previous bank.
  4. Attend the appointment: On the day of your appointment, go to the bank with your documents. The bank representative will guide you through the account opening process, which may include filling out forms and providing additional information.
  5. Receive your account details: Once your account is open, the bank will provide you with your account details, such as your account number and IBAN. You can start using your account right away, either online or by visiting a branch.

It’s worth noting that some banks in Antigua and Barbuda may require a minimum deposit to open an account, as well as ongoing maintenance fees. It’s important to check the fee schedule and make sure you understand the costs associated with your account before opening it.

In addition, expats should be aware of the different regulations and laws in Antigua and Barbuda’s banking system. The country’s banking system is regulated by the Eastern Caribbean Central Bank (ECCB), which sets the rules and standards for all banks in the Eastern Caribbean Currency Union (ECCU). Expats should also be aware of the tax laws in Antigua and Barbuda, as well as the country’s strict anti-money laundering regulations.

In summary, while Antigua and Barbuda may not have as many banking options as other countries, there are still several local banks to choose from, and some international banks offer services to clients in the country. Expats should be aware of the potential limitations of the banking sector in Antigua and Barbuda, as well as the risk of fraud and scams. Opening a bank account as an expat is a relatively straightforward process, but expats should be prepared to provide the necessary documentation and understand any fees associated with their account.


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