Setting up a bank account
The main financial institution in the Falklands is Standard Chartered Bank.
To open a current account, you’ll need:
- An original copy of your passport.
- An original copy of your work permit.
- This account offers day-to-day transactions with benefits like free debit cards, no minimum balance requirement, and regular eStatements.
Debit cards and payments
After opening your account, you can apply for a Standard Chartered Visa Debit Card. However, issuance typically occurs three months after your first salary deposit.
Payments within the Falklands can be made via bank transfers, cheques, or chip-and-pin methods. It’s important to note that online banking services are not available; instead, you can opt to receive account statements via email on a daily, weekly, or monthly basis.
ATMs and Cash Access
There is a single ATM in the Falklands, located at the Stanley Services Fuel Station. To withdraw cash, you also can visit the Standard Chartered Bank branch in Stanley, which offers cash advances against major credit cards like Visa and MasterCard
Currency
The official currency is the Falkland Islands pound (FKP), pegged at par with the British pound sterling (GBP). Both FKP and GBP are accepted throughout the Islands. However, Falklands currency may not be usable outside the Islands, so exchanging any remaining FKP before departure is recommended.
International transactions: Given the limited banking facilities, managing international transactions can be challenging. Most residents use UK based top-card services (Such as Wise or Revolut) to facilitate transferring funds abroad.
Departure tax: A departure tax of £32 is payable in cash by all passengers on commercial flights departing from the Falklands. Departure tax can be paid by card or cash at the airport upon departure, or at the Customs and Immigration premises in Stanley during working hours.
To see more information about banking in the Falklands, click Banking & Finance.