ECCB Connects Season 27 Episode 3 – Basic Bank Account

On this episode of ECCB Connects, Deputy Director, Financial Sector Supervision Department – Livia Bertin-Mark, outlines the features and benefits of a basic bank account. Individuals wishing to open a Basic Bank Account are required to present only one valid piece of photo ID. This account does not attract any maintenance fees; is not subject to a minimum balance; and it accrues interest.

The Eastern Caribbean Central Bank has encouraged all licensed financial institutions governed under the Banking Act of 2015 to make basic bank accounts available to their customers, effective 1 December 2024.