Banking on Roatan

“Banking can be a painful experience”

Opening a new bank account in Roatan requires patience and an understanding that, in general, the service ethos is very different here than in other countries. To open a bank account, you require two letters from existing account owners or people of repute in the community, and also need to be a permanent resident of the country.

Banks That Accept Non-Residents

Without a Residency card, there are only two banks that I know of that will currently allow you to open an account:

  • Banco DAVIVIENDA
  • BANPAIS

Pro tip: If you get rejected the first time, come back another day and try with a different banker. Rules here are open to interpretation.

Account Types

All banks will offer you two accounts:

  • US Dollar account: Minimum deposit usually $100, only pristine bills accepted
  • Lempira account: Minimum deposit 500 Lempira, usually offers high interest rate

Which Bank?

The two banks I personally suggest are:

BAC Credomatic (Recommended!)

Opening an account was pure joy - only took 2-3 hours, left with online banking, bank books, and debit card. VISA debit card delivered in 2 days. Excellent customer service via WhatsApp.

Banco Atlantida (Avoid!)

One of the largest private banks but terrible service. Lines often stretch endlessly. People are literally paid just to wait in lines here. Avoid at all costs!

Bank Locations

  • Banpais: West End, Coxen Hole, French Harbor
  • BAC Credomatic: Coxen Hole, French Harbor
  • Banco Atlantida: Coxen Hole, French Harbor
  • Banco Occidente: Coxen Hole
  • Banco DAVIVIENDA: Coxen Hole, Mount Pleasant
  • Others: Banco Azteca, Fichosa, LaFise, FINISA, Cooperativa Sagrada Familia

ATMs on Roatan

You can find ATMs throughout the island:

  • Maximum withdrawal: 5,000 Lempira (~$208 USD)
  • Multiple withdrawals allowed same day
  • Fees can be hefty - using foreign cards can cost 5% in fees
  • Only dispense Lempira (can withdraw from either account)

Moving Money Between Countries

International Wires

  • Best for large amounts (property purchases)
  • Fixed cost ~$100 total ($50 sending, $50 receiving)
  • Can arrive in 24 hours if forms filled correctly
  • Critical: Forms must be perfect or money gets lost in limbo

Other Methods

  • Xoom: Pick up cash at Davivienda up to $999
  • Western Union: Direct to bank or cash pickup
  • Note: These charge less in fees but have worse exchange rates

Important: US dollars are accepted ONLY on Roatan. On the mainland, you can only use Honduran Lempira.