Grenada Co-operative Bank review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Grenada Co-operative Bank is a Grenadian co-operative bank serving expats who want an easy-access savings account with branch, ATM and eBanking access. A monthly fee of XCD 5 and a currency count of 2 leave it behind the fee-free alternatives for anyone holding several currencies.
Key facts
- Best for
- Expats in Grenada who bank in person and want easy access to savings.
- Monthly fee
- EC$5↗
- Currencies
- 2↗
- Transfer fee
- EFT online XCD 2.00; EFT in-branch XCD 5.24; outgoing wire in-branch (USD, CAD, GBP, EUR) XCD 131.40; outgoing wire online XCD 94.50; foreign draft XCD 28.88 plus stamp duty↗
- Legal entity
- Grenada Co-operative Bank Limited↗
- Headquarters
- Grenada↗
- Founded
- 1932↗
- Support channels
- Phone, Email↗
- Audience
- Expats
- Features
- Joint account
- Official website
- grenadaco-opbank.com
Savings
Money transfer
Facts checked September 26, 2026, 5 sources
Pros and cons
Pros
- Savings open from a minimum deposit of XCD 50, a low bar for a first balance.
- A joint account is available, a feature 24.3% of the services listed also offer.
- Payouts run straight to a bank account, the route 88.5% of services use.
Cons
- A monthly fee of XCD 5 where the site median is €0.
- A currency count of 2, which puts the bank at 274 of 379 on that measure.
- Outgoing wires in US dollars, Canadian dollars, pounds and euros cost far more than electronic transfers, and transfer charges run XCD 51.75 to XCD 131.40.
Who it suits
- Expats in Grenada who want to save in the local currency and still walk into a branch.
- Couples who want a joint account, which this bank offers.
- Savers who can handle a variable rate and quarterly interest payments.
Who should look elsewhere
- PayPal Colombia, whose monthly fee is $0 against XCD 5 here.
- Skrill, which charges a monthly fee of €0.
- eToro, if the point is paying nothing each month: its monthly fee is £0.
Fees and currency costs
The personal accounts carry a monthly fee of XCD 5, above the site median of €0. Transfer charges depend on the route: electronic transfers online cost the least, in-branch electronic transfers cost more, and outgoing wires in US dollars, Canadian dollars, pounds and euros sit at the top, with a foreign draft adding stamp duty. Transfer charges run XCD 51.75 to XCD 131.40.
Who runs it
Run as Grenada Co-operative Bank Limited, the bank is based in Grenada and was founded in 1932, so it is a long-standing local institution rather than a recent entrant. Support runs on phone and email, and the personal range covers savings and chequing accounts, with interest paid quarterly on the savings side.
How Grenada Co-operative Bank compares
9.3 vs 8.7
9.3 vs 8.6
9.3 vs 8.0
9.3 vs 8.9eToro's monthly fee is £0, the lowest running cost of the three.
9.3 vs 9.1
9.3 vs 9.2
9.3 vs 8.7
9.3 vs 8.7
9.3 vs 8.7
9.3 vs 9.0Skrill's monthly fee is €0, against XCD 5 here.
9.3 vs 8.7
9.3 vs 9.5
9.3 vs 9.4
9.3 vs 9.3
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.1
9.3 vs 9.0
9.3 vs 9.0
9.3 vs 8.9
9.3 vs 8.9- 9.3 vs 8.9
9.3 vs 8.7
9.3 vs 8.5
9.3 vs 8.5
9.3 vs 8.5
9.3 vs 8.4
9.3 vs 8.3
9.3 vs 8.2
9.3 vs 8.1- 9.3 vs 8.1
9.3 vs 8.0
9.3 vs 8.0
9.3 vs 8.0
9.3 vs 9.1
Where Grenada Co-operative Bank is available
- Available
- Grenada
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
How much does the account cost to keep each month?+
The personal accounts carry a monthly fee of XCD 5, above the site median of €0. All three alternatives here charge $0, €0 and £0, so the gap is the running cost, not the opening balance.
What does it cost to send money abroad?+
It depends on the route. Electronic transfers online cost the least, in-branch electronic transfers cost more, and outgoing wires in US dollars, Canadian dollars, pounds and euros are the most expensive. A foreign draft adds stamp duty. Transfer charges run XCD 51.75 to XCD 131.40.
How much do I need to open the savings account?+
The regular savings account opens from a minimum deposit of XCD 50. It is an easy access account, so there is no term to serve, and interest is paid quarterly rather than at the end of a fixed period.
How many currencies can I hold?+
The personal chequing account covers 2 currencies, which places the bank at 274 of 379 services on that measure, under the site median of 5. Moving money across several currencies needs a wider account elsewhere.
Is the interest rate fixed or variable?+
The savings rate is variable, and interest is paid quarterly. Variable rates are the norm here: 79% of the accounts listed share that type, so the return can rise or fall with the base rate.
How do I reach my money?+
Access is easy at branches, ATMs and eBanking, which suits an easy access account where withdrawals are not tied to a term. Money moves out to a bank account, and support handles questions on phone and email.
Who is the bank built for?+
The listed audience is expats, and a joint account is available for couples sharing one balance. With branch access and a variable rate, it also fits savers building a local buffer rather than chasing a fixed-term return.
How do I get help if something goes wrong?+
Support runs on phone and email, so questions reach a person by phone or email. On the wider site 40% of services add live chat, which is worth checking if branch hours do not suit you.
Sources
- grenadaco-opbank.com checked September 26, 2026
Backs: Founded, Headquarters, Legal entity, Support channels
“Celebrating 90 years Grenada Co-operative Bank Limited 1932-2022”
- grenadaco-opbank.com/fees-and-charges checked September 26, 2026
Backs: Monthly fee, Transfer fee, Fee to send 1,000
“Account Maintenance Fees (Chequing Accounts) $5.00 per month applied quarterly”
- grenadaco-opbank.com/personal/diaspora-banking checked September 26, 2026
Backs: Payout methods
“Transfer money home - Funds are paid straight into your bank account”
- grenadaco-opbank.com/personal/savings/personal-chequing-a... checked September 26, 2026
Backs: Audience, Currencies, Features
“For Overseas Residents Note for non-nationals and overseas applicants”
- grenadaco-opbank.com/personal/savings/regular-savings-acc... checked September 26, 2026
Backs: Access terms, Account kind, Minimum deposit, Rate type
“Our Regular Savings Account allows you easy access to your funds at any of our Retail Banking Units (Branches) and via eBanking or ATMs”
Compiled from 5 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Deposit protection, Currency conversion fee.
Grenada Co-operative Bank
Expats in Grenada who bank in person and want easy access to savings.