The Central Bank of The Bahamas published its semi-annual assessment of retail fees charged by domestic commercial banks, supported by an updated comparative schedule of basic fees and charges as at 30 June 2025. The analysis compares the cost of typical deposit-account usage for students, retirees and adult customers under digital and physical service channels, and also reviews charges linked to missed payments on selected credit facilities. It reports slightly higher deposit-account costs since the December 2024 survey, continued dispersion of pricing across institutions, and broadly unchanged arrears-related fees; fiduciary service fees were not collected. For customers maximising electronic channels, average total monthly charges across the constructed profiles ranged from $2.77 (student) to $16.92 (adult chequing), compared with $10.23 to $27.61 when relying on physical or paper-based channels. In the scenario rankings, CIBC Caribbean Limited was simulated as the lowest-cost provider for student and retiree savings profiles under both channel assumptions, while Fidelity Bank (Bahamas) Ltd ranked lowest for adult chequing under digital use and for adult chequing and savings when physical channels were used; Scotiabank Bahamas Limited was generally the most expensive for adult chequing and savings profiles under digital use and for multiple savings profiles under physical use. For the missed-payment profile covering a credit card (limit $1,500), personal loan ($800 monthly payment) and mortgage ($1,375 monthly payment), Fidelity produced the lowest cost outcomes across categories, with Bank of The Bahamas Ltd matching the lowest late credit card fee, and Royal Bank of Canada and Finance Corp. of Bahamas Ltd (RBC FINCO) assessed as the costliest for late mortgage payments. The report notes limitations to fee comparisons where customers’ choice of provider is constrained by credit relationships or by uneven access to digital channels. The Central Bank said it is continuing to review reforms to increase digital financial inclusion and is preparing stakeholder consultation on regulatory measures to improve baseline access to transactional services and strengthen transparency and disclosure norms for credit facility management.
Central Bank of the Bahamas 2025-08-19
Central Bank of The Bahamas publishes June 2025 commercial bank fee comparison showing digital-channel monthly costs of $2.77 to $16.92 versus $10.23 to $27.61 via physical channels
The Central Bank of The Bahamas released its semi-annual assessment of retail fees by domestic commercial banks, noting increased deposit-account costs and varied pricing. CIBC Caribbean Limited and Fidelity Bank (Bahamas) Ltd were the lowest-cost providers for various customer profiles, while Scotiabank Bahamas Limited was generally the most expensive. The report also mentions ongoing reviews to enhance digital financial inclusion and improve transparency in credit facility management.