Chesterfield (London) 
207 Old Marylebone Road
Tel: +44 (0) 203 771 3853
Fax: +44 (0) 203 771 3856

Bahamas Banks

The Central Bank of The Bahamas was established in June 1974 to regulate the Bahamas banking industry. In order to keep up with the times the monetary policy has since been superseded by the Central Bank of The Bahamas Act 2000. The Central Bank has the traditional roles of issuing the legal tender to both domestic banks and the government.

The Bahamas hosts a wide arrear of banks from local domestic banks to large international banks from over thirty countries. If you want to deposit more than $300,000 then it is best to use a Bahamas Private bank account as this is more geared to investment and portfolio management, but anything less there are plenty of banks to choose from.

CIBC FirstCaribbean bank is one of the largest regionally listed banks and is in fact a combination of Barclays Bank of the UK and Canadian Imperial Bank of Commerce of Canada who joined forces to launch FirstCaribbean International Bank in 2002. CIBC is a leading North American financial institution who also joined with FirstCaribbean in 2011. CIBC FirstCaribbean operates sixteen branches, eighteen Instant Tellers a Wealth Management Centre and a Capital Market Office in The Bahamas.

You need not visit the Bahamas to open a bank account Chesterfield can arrange the introduction and paperwork to make this application without you having to make unnecessary travel arrangements.

The Bahamas have two currencies, the US Dollar and the Bahamian Dollar. These are equal in value 1:1 and both are readily accepted throughout the Islands, barring some Casinos. Please note that the Bahamian Dollar can usually not be exchanged abroad.
The amount of respected banks in the jurisdiction and its long standing financial base make the banks in The Bahamas very experienced in the offshore financial sector and able to offer numerous banking solutions to fit your needs.

For more information regarding opening a bank account in The Bahamas or anywhere else worldwide please follow the link below or call us on our offices 

Telephone Number: 44 20 7097 1385

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