Grand Cayman Banks for Vacationers and Financiers.

Grand Cayman is the world's fifth largest offshore banking center. Grand Cayman banks, more than tourism, drive the Cayman economy. Look at the job opportunities in Cayman and you'll see what I mean. If you're not in banking or insurance your chances are slim.

A page on banks may seem out of place in a travel site and, with the exception of the regular public service banks, it probably is but talking about Grand Cayman without including them is like presenting New York without Wall Street or London without 'the City'. Without the banks, Grand Cayman island would be a picturesque tourist destination with all that entails. Banking is why it is so much more and why they are here, though very sketchily described, on our travel site.

I'm dividing Grand Cayman banks into two kinds, those that cater to the needs of visitors and those that cater to the needs of the world's monetary systems.

Some of the Financial Service Companies on Grand Cayman

I have to start the first group with the home-grown Grand Cayman bank -- Cayman National Bank, which provides visitors with handy access to funds through ATMs at strategic points around the island -- right next to the Fosters Express food store in the East End, for example. Their branches, however, are mainly in George Town and the West End. The main office can tell you the nearest location to your resort: (345) 949-4655 or www.caymannational.com

Butterfield Bank also has its branches mainly in George Town and it can be reached at: (345) 949-7055 and 949-8565 or www.butterfieldbank.ky

Royal Bank of Canada (RBC) is one of two Canadian Banks offering regular banking to the public. Cayman Head Office is in George Town at: (345) 949-4600 or www.rbc.com

Scotiabank is another Canadian bank with a strong presence in George Town, One of the very few tall buildings there carries the Scotiabank name, you can't miss it. There are also branches near the airport and at The Strand. Call (345) 949-7666 and (345) 945-7066

Fidelity Bank, (345) 949-7822 and www.fidelitycayman.com, and First Caribbean International Bank, (345) 949-7300 and www.firstcaribbean.com, each has one branch in George Town.

They round out the banks that provide the kind of services you and I would recognize (unless you're an international finance person, in which case it's just me). Offshore banking has a great many more banks and support companies. I've listed only a very few below in case you have some private funds looking for a legal off-shore home.

Alphabetically, the first of the institutional banks is Altajir Bank, a Cayman incorporated bank that welcomes accounts, even modest ones according to the ads, from anyone who is not a Cayman resident. Contact them at: (345) 949-5628

BNP Private Bank and Trust, (345) 945-9208

Bank of America Trust and Banking, (345) 949-7888

Caledonian Bank and Trust, (345) 949-0050

CIBC Bank and Trust Company, (345) 949-8666

Coutts (Cayman), (345) 945-4777

Fortis Bank (Cayman), providing administration, banking and finance to offshore and US domestic funds, (345) 949-7942

HSBC Financial Services, (345) 949-7755

Merrill Lynch Bank and Trust (Cayman), (345) 949-8206

Not Grand Cayman banks, or any sort of banks as such, but supporting companies to the industry also have a strong presence in the Cayman economy. If you're in finance and you want to live and work where the sun pretty much always shines, these are also companies to look up. Firms like, Walkers SPV or First Financial International Group.

Others include: Caledonian Group, providing international financial services in banking, and SPV, Trust, Fund, and Corporate Administration, as well as Captive Insurance Management.

Codan Trust Company provides Trust and Company administration services.

Deloitte provides services in audit, tax, consulting and financial advice.

or GCM (Global Captive Management) is a leading captive insurance management company.

As I said at the beginning, this is not a complete list. And it isn't in any way a recommended list!!!! Apart from the 6 banks who provide services to the public, I don't know anything about any of them. I've included them to give a flavor of what drives Grand Cayman and to help you search other sites if that's the kind of service you need.

Operating a world-class financial center needs world-class bankers. If banking is your background, and you want some time in the sun, Grand Cayman banks are looking for you. There's lots of demand.

More Financial Service Companies

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