Demerara Bank review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Demerara Bank is an easy-access current account from a bank based in Guyana, with a joint option and a foreign currency service, and it suits businesses and residents who want local access rather than a global app. The monthly fee of GYD 100 sits above the site median of €0.
Key facts
- Best for
- Residents of GY and local businesses holding several currencies.
- Monthly fee
- GYD 100↗
- Currency conversion fee
- 1%↗
- Currencies
- 4↗
- Transfer fee
- Online transfers between DBL accounts G$50; EFT outgoing G$100, EFT incoming G$50; transfer between accounts (USD) US$15↗
- Legal entity
- Demerara Bank Limited↗
- Headquarters
- Guyana↗
- Founded
- 1992↗
- Support channels
- Email, Phone, Help-centre↗
- Audience
- Business
- Features
- Joint account
- Official website
- demerarabank.com
Savings
Money transfer
- Delivery time
- Instant for cash pickup and DBL direct deposit; a few hours for third-party bank deposit↗
- Payout methods
- Bank, Cash-pickup↗
- Fee to send 1,000
- GYD 0↗
Facts checked September 26, 2026, 7 sources
Apps and profiles
- Get the app
- App Store
- Elsewhere
- facebook.cominstagram.com
Pros and cons
Pros
- A easy access account with on-demand access by Visa debit card, ATMs and e-banking, and interest paid semi-annually
- Foreign currency accounts covering 4 currencies, with local account details provided
- Transfers pay out to a bank account or a cash pickup point, and the transfer fee is GYD 0
- Support runs on email, phone and help centre, with a help centre for questions answered without a branch visit
Cons
- A monthly fee of GYD 100 on the account, above the site median of €0
- A variable savings rate of 0.35% with a minimum deposit of GYD 2,000
- Currency conversion at 1% and a currency list of 4, both mid-table
Who it suits
- Businesses in GY that trade in foreign currency
- Local residents running a current account alongside a savings account
- Households that want a joint account
Who should look elsewhere
- Readers who want no monthly charge, since Plazo ES and Skrill list €0 and €0 against GYD 100 here
- Anyone chasing a long currency list, as 4 sits under the site median of 5
- Savers wanting a higher return, since 0.35% is below the site median of 3%
Where it sits among rivals
On currency count the bank ranks 183 of 379 brands tracked, and on currency conversion fee 172 of 312. Both placements sit well down the tables rather than near the front, so the offer reads as a local banking choice instead of one that competes on breadth of currencies or on the cost of conversion.
How Demerara Bank compares
9.1 vs 8.7
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9.1 vs 9.0Its monthly fee is €0, and Demerara Bank adds a variable savings rate of 0.35% on top of the current account.
9.1 vs 8.7
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Where Demerara Bank is available
- Available
- Guyana
- Licence in Guyana
- Bank of Guyana, checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does Demerara Bank charge to keep a current account?+
A monthly fee of GYD 100 applies to the account. The typical fee across the site is €0 and the highest recorded is €449, so this sits above most of the field. The account it attaches to is an easy access account.
How much does it cost to convert currency?+
Currency conversion is charged at 1%. That sits a little above the site median of 0.5% and far below the 7% upper end of the range, though it is not the cheapest here. Regular senders and receivers abroad will see this on every conversion.
Which regulator supervises Demerara Bank?+
The bank is supervised by the Bank of Guyana in Guyana, and the legal entity is Demerara Bank Limited. It has operated since 1992, so the licence sits with a long established local institution rather than a new entrant.
How many currencies can I hold?+
The foreign currency service covers 4 currencies, against a site median of 5. It is aimed at business customers, and local account details are provided for the accounts offered. That is a short list rather than a full multi-currency platform.
What savings rate is on offer?+
Savings pay a headline rate of 0.35% on a variable rate, with a minimum deposit of GYD 2,000. Most listed savings accounts carry a variable rate, with a site median of 3%, so this is a modest return for a local saver rather than a growth product.
Can I open a joint account?+
A joint account is among the listed features. The wider account type is easy access, with on-demand access through a Visa debit card, ATMs and e-banking, and interest paid semi-annually. Joint holders can therefore run day-to-day spending and savings under one arrangement.
How do money transfers work and what do they cost?+
Transfers reach a bank account or cash pickup, and the transfer fee is GYD 0. Money arrives straight away for cash pickup and for direct deposits into a Demerara Bank account, while a third-party bank deposit needs a few hours to clear.
How do I get help?+
Support runs on email, phone and help centre, so phone, email and a help centre cover most questions. Separate charges also apply to online transfers between Demerara Bank accounts, to outgoing and incoming EFT transfers, and to a transfer between accounts in another currency.
Sources
- demerarabank.com/about-us checked September 26, 2026
Backs: Founded, Headquarters, Legal entity, Licences
“On January 20, 1992, Demerara Bank Limited was officially incorporated with a share capital requirement of $250 million”
- demerarabank.com/about-us/service-charges checked September 26, 2026
Backs: Currency conversion fee, Monthly fee, Support channels, Transfer fee
“Inward Transfers to GYD Account 1% - Minimum G$400/ Maximum G$2,500”
- demerarabank.com/faqs checked September 26, 2026
Backs: Access terms, Account kind
“A Statement Savings Account is an ATM-ready account and offers greater advantages for persons on the go. Upon establishment of a Statement Savings Account, a VISA Debit Card is issued. ... Interest...”
- demerarabank.com/foreign-currency-accounts checked September 26, 2026
Backs: Audience, Currencies
“Our Foreign Currency Accounts offer individuals and businesses the ability to hold and manage funds in multiple currencies”
- demerarabank.com/frequently-asked-questions-ria checked September 26, 2026
Backs: Delivery time
“Cash: The funds are available as soon as the transaction is complete and confirmation is generated. Direct Deposit to DBL Account: The funds are immediately available. Deposit to Third-Party Bank in...”
- demerarabank.com/ria-money-transfer checked September 26, 2026
Backs: Payout methods, Fee to send 1,000
“Remittances are processed via the options below: Deposit Into any Local Bank Account; Cash Pickup (At DBL Branches)”
- demerarabank.com/savings-accounts checked September 26, 2026
Backs: Features, Headline rate, Minimum deposit, Rate type
“Joint Account Capability: This account can be opened as a joint account, allowing multiple individuals to access and manage the account”
Compiled from 7 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Deposit protection.