Harbour Island, a small and exclusive destination just 3.5 miles long, is renowned for its pink sand beaches, boutique accommodations, and tranquil charm. However, its compact size limits infrastructure, particularly when it comes to banking services.

Therefore, if you’re planning a trip, it’s crucial to familiarize yourself with the island’s financial landscape. This will help you avoid any unexpected inconveniences, especially since there are very few banks in Harbour Island.

Limited Banking Options

Currently, Harbour Island has only one bank: the Royal Bank of Canada (RBC). Located on Murray Street in the heart of Dunmore Town, RBC is a major Canadian financial institution with a strong international presence and decades of experience operating in The Bahamas.

RBC – Harbour Island Branch

• Location: Murray Street, Dunmore Town
• Phone: +1 (242) 333-2250
• Hours: Monday to Thursday: 9:30 AM – 3:00 PM; Friday: 9:30 AM – 4:30 PM
• Services: Personal and business accounts, loans, foreign exchange, ATM services

ATM Access and Availability

The only ATM on Harbour Island is located at the RBC branch and dispenses Bahamian dollars (BSD). Although convenient, it’s worth noting that during peak travel seasons, the ATM may run out of cash. Therefore, it’s wise to withdraw funds early in your trip—or better yet, bring cash with you.

Currency Use and Exchange

Unlike other Caribbean tourist hubs, Harbour Island does not have any currency exchange bureaus. Visitors arriving with currencies like Euros, British Pounds, or Japanese Yen will find it nearly impossible to exchange them locally.

However, U.S. dollars (USD) are accepted everywhere on the island at a 1:1 exchange rate with Bahamian dollars. Most establishments—including small restaurants, shops, and hotels—accept either currency, and you may receive change in a mix of both.

Important Tips for Visitors

• Bring U.S. Dollars in Cash: Especially for international visitors, carrying USD avoids the need for currency exchange and ensures hassle-free payments.
• Use Small Denominations: Many local vendors, particularly taxi and water taxi operators, may not carry sufficient change for large bills. Small denominations make transactions smoother.
• Plan for Cash-Only Services: While credit cards are widely accepted, you’ll still need cash for services like taxis, water taxis, and some small local vendors.
• Withdraw Early if Needed: If you rely on withdrawing cash, visit the RBC ATM early in your stay to avoid issues with limited availability.

Final Thoughts

Harbour Island offers a luxurious and laid-back island experience, but its limited banking infrastructure requires you to plan ahead financially. By understanding the island’s reliance on a single bank and the absence of currency exchange services, you can ensure a seamless stay without unnecessary stress.

Additionally, with a bit of preparation such as bringing U.S. dollars in small bills you’ll be fully equipped to navigate the financial landscape, especially since there are very few banks in Harbour Island.