🏦 Banks

What is the Barbados Deposit Insurance Corporation and what does it protect?

The BDIC protects your money in a bank or licensed finance company if it fails — up to Bds$25,000 per depositor, per institution. Why the cap is low, what is covered, and what to do if you hold more.

Commercial bank or credit union: which should you choose?

Commercial banks have the widest product range and branch network; credit unions are member-owned, often cheaper for everyday saving, and among the biggest mortgage lenders in Barbados. How to weigh the two.

How to choose your first bank account in Barbados

Your everyday account is the hub of your money. How to compare fees, the debit card or debit card, the app, minimum balances and online banking — and avoid the costs that slip past.

Credit reports and credit checks in Barbados: how lenders assess you

When you apply for a loan, credit card or hire purchase, a credit check is done. How the credit bureau works under the Credit Reporting Act 2015, what stays on your file, and how to see your own report.