Grand Cayman is the world's fifth largest offshore banking center and 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, accounting 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 Cayman Islands offshore banking industry, 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. This page is about banks that visitors, residents or those planning to become residents may use. You'll find the other kind on our page Financial Services.
I have to start the first group of Cayman Islands banks 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 Cayman National Bank.
The Butterfield Bank also has its branches mainly in George Town and it can be reached at: (345) 949-7055 and 949-8565
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 RBC Caribbean.
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 (www.fidelitycayman.com)
First Caribbean International Bank, (345) 949-7300 and www.firstcaribbean.com,
both have a 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:).
Why bank in Grand Cayman? Principally because Grand Cayman is a tax free haven for money. If that's something you can make use of, the companies on this and our Financial Services page can certainly help with any of your private funds looking for a legal off-shore home.
Destin, Fla, USA