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Trinidad and Tobago – Banking

Trinidad and Tobago is a small twin-island nation located in the Caribbean. As an expat living in Trinidad and Tobago, it is important to know about the banking system in the country. In this article, we will answer some common questions about banking in Trinidad and Tobago.

Main Local Banks in Trinidad and Tobago

The main local banks in Trinidad and Tobago are:

  1. First Citizens Bank
  2. Republic Bank
  3. Scotiabank
  4. RBC Royal Bank
  5. JMMB Bank

Major UK and USA banks do not have a physical presence in Trinidad and Tobago.

Accounts and Services for Expats

Most banks in Trinidad and Tobago offer accounts specifically aimed at expats. These accounts may have different requirements and features than regular accounts, such as reduced fees for international transfers and higher minimum balance requirements.

Typical Bank Opening Hours in Trinidad and Tobago

The typical bank opening hours in Trinidad and Tobago are Monday to Thursday from 8:00 am to 2:00 pm and Friday from 8:00 am to 5:00 pm. Some banks also open on Saturday mornings.

Specific Areas of Concern

Expats should be aware that Trinidad and Tobago has a high crime rate, which can also affect banks. It is important to keep your bank account information and PIN numbers safe and secure. Additionally, some banks may require a longer waiting period to approve a loan or credit card for non-residents.


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Opening a Bank Account

Opening a bank account in Trinidad and Tobago is a straightforward process. Here are the steps you need to follow:

  1. Choose a bank: Research different banks in Trinidad and Tobago to find one that offers the services you need.

  2. Visit the bank: Bring a valid passport or government-issued ID, proof of address, and proof of income to the bank’s branch.

  3. Fill out the application form: Read the terms and conditions carefully before signing the form.

  4. Provide a reference: Some banks may require a reference from another bank or financial institution.

  5. Wait for approval: The bank will review your application, which can take several days or weeks.

  6. Activate your account: Once approved, you will receive your account number and other details. Activate your account by making a deposit.

Banking in Trinidad and Tobago offers a range of options for both locals and expats. Major local banks provide a variety of services, while many banks offer accounts and services specifically tailored for expats. It is important to carefully review account terms and conditions and be aware of any fees or minimum balance requirements.

To open a bank account in Trinidad and Tobago, choose a bank and account type, provide the necessary documents and information, and follow the account opening process. By doing so, expats can quickly and easily access banking services in Trinidad and Tobago.


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