Banks

The banks on the island are:

·         Royal Bank of Trinidad and Tobago (RBTT) - located on campus (444-3862) and on Wall Street in Grand Anse (444-4919)

·         First Caribbean International Bank - located on Wall Street in Grand Anse (444-1184)

·         Bank of Nova Scotia (Scotiabank) - located across from the Grand Anse Shopping Center/Food Fair  (444-1917)

·         Republic Bank Limited - located in Spiceland Mall (444-2627)

·         Republic Finance and Merchant Bank - located on Wall Street in Grand Anse (444-1874)

There is an RBTT branch with an ATM machine on campus. Their hours (as of this writing) are Monday through Thursday (8:00am to 10:50am and 12:00pm to 2:30pm) and Friday (8:00am to 10:15am and 12:00pm to 3:30pm). If you do end up getting an account at RBTT, there is another branch in Grand Anse, adjacent to the Spiceland Mall on "Wall Street" where many other banks are located.  Most banks on the island have ATM machines that allow you to withdraw money from your home accounts for a fee (you will probably also be charged a fee by your home bank). Of course, if you use an ATM to withdraw money from a home account, you will receive EC dollars from the machine. 

Although you may choose to keep one or more bank accounts at home to pay bills like student loans, mortgages, etc., you may consider opening a local account as well.  Financial Aid checks are distributed on the first day of classes, if you do not set up direct deposit into your home bank account, and can be quickly deposited in your local account for your daily use. Sending things (especially valuables) through regular Grenadian mail to the US can take a few weeks, and using FedEx and DHL is very expensive.  It is also easier to pay Grenadian bills with cash or from your local account, as landlords and other companies on the island do not like to take foreign checks.

In Grenada, non-citizens cannot open a checking account until they have lived in the country for at least six months.  Plan on opening a savings account and paying with cash for most transactions.  Also, it is not easy for non-citizens to open a joint account. 

Grenadian money is in Eastern Caribbean Dollars (ECD). At this time, the exchange rate is approximately ECD$2.67 for each USD$1.

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