Banking in Bahamas
Best banks in Bahamas for expats & digital nomads
Opening a bank account is one of the first things you do after moving to Bahamas. Here are the accounts that work for newcomers and non-residents, plus the fintech we would set up before you fly.
How to open a bank account in Bahamas
Decide first whether you need a resident account (with work permit or residency), a non-resident external account, or an offshore/private account, since banks target specific client profiles. Expect strong KYC: passport, proof of Bahamas address, a bank or character reference, and clear source-of-funds documentation; non-residents and higher-value clients face the most scrutiny.
Top banks in Bahamas
CIBC Caribbean (Bahamas) Limited
traditionalFormerly FirstCaribbean; historically the largest bank operating locally, part of a large international group.
RBC Royal Bank (Bahamas) Limited
traditionalOne of the eight licensed commercial banks; personal and corporate banking.
Scotiabank (Bahamas) Limited
traditionalCanadian-owned commercial bank with retail branches and online/mobile banking.
Fidelity Bank (Bahamas) Limited
traditionalBahamian-owned commercial bank known for personal client service and investment offerings.
Bank of The Bahamas Limited
traditionalMajority government-owned; full-service retail bank with branches on eight islands, loans, mortgages, cards and online banking.
Commonwealth Bank Limited
traditionalLargest Bahamian-owned retail bank; personal accounts, online banking and merchant services.
International accounts & neobanks
Bahamas residents can register with Wise to send/receive transfers, but Wise does NOT let residents open/hold a multi-currency balance (The Bahamas is not on Wise's hold-money country list).
Available to Bahamas-based freelancers/businesses to receive international payments and withdraw locally; The Bahamas appears on Payoneer's own supported-country fee schedule.
Availability changes; confirm on each provider's site.
Next steps in Bahamas
See the full Bahamas tax, cost and visa profile, or compare Bahamas with other destinations. Not sure where to go yet? Take the finder quiz.