Banks in Solomon Islands

The Central Bank of Solomon Islands (CBSI) licenses and supervises financial institutions, oversees payment systems, regulates foreign exchange and handles financial consumer protection. The main commercial banks are ANZ Bank, BRED Bank Solomon, BSP Financial Group and Pan Oceanic Bank. The Development Bank of Solomon Islands supports development-related finance. Other credit institutions include BSP Finance Solomon Islands, Credit Corporation Solomon Islands and Solomon Finance. Around 17 credit unions also operate, most of them in or around Honiara. The Solomon Islands National Provident Fund (SINPF) manages superannuation and is not a bank. Customers can usually seek banking services through a branch, agency or bank agent. Providers apply customer-identification and anti-money-laundering checks. They may request a passport, voter ID, driving licence, birth certificate or a letter from a village representative. A national identity document is not available nationwide, and each provider decides which documents and additional checks it accepts. Local and international customers therefore may receive different access conditions. Solomon Islands has no established general right to a basic bank account identified in the current research. Common services include savings accounts, cheque or current accounts, term deposits, debit cards, ATMs, EFTPOS, online banking, mobile banking, domestic transfers, bill payment, international transfers, remittances and foreign exchange. The Solomon Islands dollar, abbreviated SBD, is the national currency. PacifiCard is used for card-based payments, while Ezi-Pei is a non-bank mobile wallet for bills and person-to-person transfers; it is not a bank account. The Payment Systems Act 2022 provides part of the legal framework for payment services, and the Financial Institutions Act 1998, as amended, supports financial-sector supervision. Cash remains central to everyday payments. A CBSI assessment published in 2023 using 2020 data estimated that about 80% of transactions were made in cash. The formal banking network is concentrated in Honiara: the same assessment recorded 15 commercial-bank branches, with more than 70% in Honiara. Current branch, ATM, EFTPOS and connectivity coverage is not consolidated in one continuously current public figure, so availability outside Honiara should be confirmed with the provider. Provinces may rely more heavily on agents, mobile or branchless banking, cash and limited electronic-payment infrastructure. SOLATS Instant Funds Transfer (IFT) became operational for interbank transfers on 24 August 2026. The maximum is SBD 5,000 per customer transaction. Other transfer, ATM, EFTPOS, cash-handling, interbank, foreign-exchange and remittance limits and fees depend on the provider, account and channel and can change. Banks must disclose applicable interest, fees and charges before the customer enters the contract under CBSI guidance PG8. Customers should keep their PIN, password, one-time password, Visa debit-card details and account information private. Local risks include phishing, social engineering, money-mule recruitment, card misuse and account takeover. Suspicious activity or an unauthorised transaction should be reported immediately to the bank or other provider; suspected scams or money laundering can also be reported to the Royal Solomon Islands Police Force or the Solomon Islands Financial Intelligence Unit (SIFIU). Under CBSI complaint requirements known as PG9, the provider should acknowledge a complaint within three business days and decide or provide a remedy within one month. An unresolved complaint or a complaint without a response can be escalated to CBSI. The current regulatory findings do not identify a formal deposit-insurance scheme in Solomon Islands. Customers should therefore not assume that every bank deposit has a government guarantee. The Financial Institutions Act protects depositor interests through supervision and possible intervention, but that protection is not the same as a blanket deposit guarantee.