Bank of St. Helena
From Wikipedia, the free encyclopedia
The Bank of St. Helena is a commercial bank based on the British overseas territory of Saint Helena, also operating in the dependent territory of Ascension Island.
Contents |
[edit] Services
The Bank offers both current and savings accounts to personal customers, as well as business banking from two offices in Jamestown, Saint Helena, and Georgetown, Ascension Island.
The Bank also offers services to tourists and others visiting Saint Helena and Ascension Island. These include currency exchange, encashment of Traveller's Cheques and providing cash advances on selected Credit/Debit Cards.
The Bank maintains a relationship with Lloyds TSB Bank, allowing its customers to use their banking network for United Kingdom and international money transmission.
Up-to-date details of the bank's services are available on its website (see External Links, below).
[edit] History
The Bank was formed on April 1, 2004, by the Banking Ordinance 2003 and the Bank of St. Helena Ordinance 2003. The Bank inherited the assets and liabiltiies of the Government Savings Bank (in St. Helena) and the Ascension Island Savings Bank.
[edit] Banking on St. Helena
Bank of St. Helena is the island's only bank. Also the island does not have a central bank. This means that, in effect, the island's interest rates are set by Bank of St. Helena, a commercial bank, instead of by the government or a central bank.
Despite the above, Bank of St. Helena does not issue the island's banknotes and coins. These are issued by the Currency Commissioners, part of the Government of St. Helena.
