Open a bank account in Barbados
Guidance on preparing to open a local bank account in Barbados, including the documents and practical steps that may apply to your move.
Where to go in Barbados
Bank: Republic Bank (Barbados) Limited
Account to ask for: e-Free
Scotiabank also operates in Barbados. We point people to Republic Bank because its branch network and electronic account are the stronger fit for someone just arriving, but either will work.
CurrencyBBD
Minimum to openBDS$100
What to bring
What Republic Bank asks for when you open a e-Free in Barbados:
- One of the following: a National ID card, a passport, or a driver's licence (a driver's licence is only accepted alongside another form of valid photo ID)
- Proof of address dated within the last three months: a utility bill (excluding cell phone bills), another bank's statement (excluding credit union or other financial-institution statements), an official government or tax document such as correspondence from the BRA or NIS, or a rental agreement or contract from your landlord. If the bill isn't in your name, Republic Bank will provide an authorisation letter for the bill-holder to complete
- Proof of income: if employed, a job letter or your most recent pay slip. If self-employed, up-to-date audited financial statements for the last three years, or a Statement of Affairs and a Statement of Income and Expenditure. A start-up entity (in operation less than three years) provides an opening balance sheet and cash flow projections for three years instead
If you are not resident yet
Opening before you have moved, or while your status is still being sorted out? Republic Bank asks for these on top of the documents above:
- A foreign banker's reference, or a bank statement from the last three months
- If self-employed, a utility bill confirming your permanent foreign address
- A work permit, CARICOM Skills Certificate, or other official document granting permission to work. Students provide a missionary permit, student visa, or a letter of enrolment or acceptance from a Barbados educational institution instead
Good to know
- Republic Bank markets e-Free around banking free, easy and convenient through RepublicOnline and its Blue Machine ABMs rather than in-branch: no monthly maintenance fee, plus a free OneCard Visa Debit for 24-hour ABM and point-of-sale access, a pocket wallet to protect it, and monthly e-statements.
This is guidance, and banks change their fees and document lists. Confirm the current requirements with Republic Bank (Barbados) Limited before you travel to a branch.
We can handle this for you
Gathering documents, opening the account and everything else needed for a successful move to Barbados, from your visa or CSME certificate to flights, housing and banking, is exactly what we do every day. Reach out and we’ll walk you through it.
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