Acquaint yourself with banking in Barbados

Since the Barbados banking industry is run by the Central Bank of Barbados, researching this organization is a very good place to start.

I recommend: Contact the Central Bank of Barbados for a wide variety of information. They post exchange rates, licensed financial institutions, economic data and even counterfeit detection tips.

Consider the distance you will be from your bank in Barbados

If you will often be a substantial distance away from your choice of Barbados banks, it is imperative that you have ease of access to your account. Most likely the best way to do that is by online banking.

I recommend: Use FirstCaribbean National Bank and their Internet banking system. Through this system the account holder can do account transfers, third party payments and international wire transfers. They also offer telephone banking as another option for bill paying.

Get familiar with the different Barbados banks

There may not be many banks in Barbados, however, it is still very important to know the difference between private banks in Barbados and an international bank in Barbados.

I recommend: FirstCaribbean International Bank has several locations scattered around the Caribbean. They also offer money management with a personal relationship manager that provides local service that ranges from negotiating local business to making your money accessible in whatever currency you require. Some other choices available for private banks in Barbados, are the privately owned Amphora Bank or CXE International Bank Ltd. and the chartered Bayshore Bank & Trust. These organizations are fairly exclusive and cater to private individuals and corporations.