What banks are in the Marshall Islands?

The Marshall Islands has a small but functional banking sector that caters to both local residents and international business activities. The main banks operating here include:

• Bank of the Marshall Islands (BMI) – The largest locally owned bank providing personal and business loans, deposit accounts, and investment products. It also plays an important role in covering remote island communities.
• Bank of Guam – The Majuro branch provides a full international banking service that ranges from business accounts, individual accounts, remittances, and convenient access to ATMs.
• Bank of Hawaii – It is well-renowned for its strong digital banking activities, spanning individuals, businesses, and government clientele, with the added advantage of direct access to the U.S. financial system.
• First Hawaiian Bank – The subsidiary of BancWest Corporation, it operates in diversified services such as consumer and commercial banking, wealth management, and investment advisory.

These Marshall Islands banks collectively provide basic financial services, including foreign wire transfers, lines of credit, deposit services, and corporate bank services. They also provide the assurance that domestic and international businesses have easy access to the jurisdiction's regulatory regime.

For business and firms intending to open accounts or start financial activities in the Marshall Islands, Offshore Company Services (OCC) offers professional services to guide you through requirements, attend to compliance, and form appropriate bank relationships for the needs of your firm.

=> Full Information: Marshall Islands Company Incorporation