How to open a bank account in Guyana?
To open a bank account in Guyana, you need a valid ID document and a few basic requirements. You will also have to make a small deposit to get started.
Most people in Guyana apply for a bank account in person. Few banks in Guyana offer online applications, and you will still need to complete the process in person. The online application is merely a time saver.
To proceed, you will need a government-issued ID, regardless of which method you choose. You will also need proof of address, personal details, and some money for the initial deposit. The requirements to open a personal savings account or a business checking account in Guyana are outlined below.
» Learn how to get a PayPal account or a free US bank account.
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What documents are required to open a new bank account in Guyana?
To open a bank account in Guyana, you need to bring some legal documents. If you are applying online, you can use the links on the website to upload your documents. To fully open your bank account, you will have to make a trip to the bank. You will be required to sign the necessary legal documents.
The majority of the requirements are the same for opening a checking or savings account at a bank in Guyana.
You can open a bank account in the United States of America without ever visiting the country.
Top-class Banks in Guyana 2022
If you are interested in a detailed guide on which bank is best to open a bank account in Guyana, use the link here. There you will find information on the top banks in Guyana and their best rankings.
You can also read about the banks in the list below (review) by clicking on their names:
- GBTI – Guyana Bank for Trade and Industry Ltd.
- Republic Bank.
- Bank of Nova Scotia
- Citizens Bank (Guyana) Inc.
- Demerara Bank Ltd.
Here is what you will need to open your new bank account in Guyana:
- Valid ID, passport, or driver’s license document. Proof of Address.
- Personal or business (TIN) tax identification.
- Financial statements or payslips. Application form.
- Initial deposit.
A government-issued ID document:
To open a bank account in Guyana, you need a valid ID document such as a national ID card, passport, or driver’s license. Any one of these photo ID documents is acceptable to open a bank account at any one of the banks in Guyana.
Proof of Address:
This document is also known as a proof of residence. The bank will require this document as a security measure. The address must match the address you wrote on the application form. If the bank wants to send essential information or visit your location, they have your information on file.
Personal or business (TIN) tax identification:
The TIN is a legal document issued by the Guyana Revenue Authority. Every tax-paying individual and business must have a TIN. The bank will request your TIN when setting up a new bank account in Guyana.
Financial statements or payslips:
you will need to provide information to show proof of income. The bank uses this income information as a reference concerning your deposits. Individuals must provide a job letter and a recent payslip from their employers, issued within the past 3–6 months. If you are self-employed or operating a business, submit your income statements and registration of the business.
Application form:
You can uplift the application form from the bank or download it online. Before your visit to open the account, you should fill out the application information and sign the form.
Other requirements include an initial deposit, a phone number, business registration, and identification details of additional applicants (joint accounts).

Decide which bank account in Guyana you want: personal savings vs. business checking.
You will need to decide what type of account you want to open. Here is a comparison between the business checking account and a personal savings account.
Select a checking account to:
- Have a business bank account
- Separate business and personal finance.
- Track business income and expenses
- Complete business transactions
- Write checks.
Select Personal savings account to:
- Do online shopping.
- Pay bills or transfer funds.
- Save your fund for specific goals.
- Get personal loans and mortgages.
What to look for?
Checking Account:
- Overdraft fees.
- Online banking.
- Online application.
- Customer service
Saving Account:
- Interest rates.
- Monthly fees.
- ATM access fees.
- Online banking.
- Customers service
What to expect when opening a new bank account in Guyana?
When applying to open a bank account in Guyana, you should expect to visit the bank in person. Typically, only a few banks allow online applications, but you must complete the process in person. The process usually takes a day once you have all the required documents.
You must make an initial deposit into the savings account. Usually, the minimum deposit is about GY $5,500 to open a savings account. For the checking account, you will have to purchase a checkbook in addition to opening the account.
It may be possible to transfer the money from another account using online banking. Otherwise, use a check if you do not have cash on hand.
» Interested in online banking?
You can also pay in US currency, but the bank will convert your money to Guyana currency using their exchange rate.
See: Free IKnow Guyana currency converter tool to see the exchange rate.
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Tips for switching or closing a bank account in Guyana
If you have an old bank account you are switching from, do not leave it to get dormant. Unused bank accounts become so over time. Here are a few tips for switching to a new bank account or closing an old bank account:
- Submit the new bank account to your employer and cancel the old bank account information.
- Update your banking detail on your linked accounts such as PayPal, Transfer wise, or Payoneer.
- Update all banking details in your smartphone apps and confirm that it is working correctly.
- Using your new banking account details, update all automatic bill payments such as GWI water, GTT internet, etc.
- Provide streaming services and websites with the current account details.
- Close the old bank account and collect any available finance.
- Collect all items from your safe-deposit box.
- Collect the statement of bank account closure.
Frequently Asked Questions
To open a new bank account in Guyana, you will visit the bank of your choice. The process can begin with an online application. They are some docunments that you will have to provide to open the account. These documents include photo Identification Document, proof of residence, proof of income and some personal details. You will also need an initial deposit.
To open a new bank account in Guyana, you will visit the bank of your choice. The process can begin with an online application. They are some docunments that you will have to provide to open the account. These documents include photo Identification Document, proof of residence, proof of income and some personal details. You will also need an initial deposit.
No, you cannot fully open a bank account online. You can apply online, but you will have to visit the bank in person to complete the process. Some banks in Guyana will call you to schedule an appointment after applying online. You will have to
You can, however, get a US bank account online without ever going to the United States of America.
If you are not a resident of Guyana or oversea Guyanese, you must provide all legal documents to open a bank account. Keep in mind that you are doing business with a financial institution outside of your home country. You will be required to show valid identification and proof of address. Provide citizenship and tax identification number information, among other things. Residents of the United States will be required to provide their SSN. The initial deposit, as well as the source of income, must be provided.
SSN, ID document, Proof of Address, and other personal details are required for a US resident to open a bank account in Guyana. See our post, What you need to open a bank account for more information.