Thursday, July 20, 2017

Is there a Bank or ATM on Big Corn Island?

After living in Pearl Lagoon where there was no bank, we were concerned about the ease of banking on Big Corn Island. We were happy to learn that there is a bank on the island with an attached ATM. The ATM dispenses both US dollars and Cordobas.

After having been here for a while we have found that the ATM can run out of money on the weekends, especially during holiday seasons. As the ATM processes your request, you will get a message telling you that no money is available. You could then try a different currency or wait until the following day (if it is a week day). The ATM may not get restocked with currency until Tuesday morning if it runs out on the weekend. If the ATM has run out of money, then your account should not be affected. Another option is to go into the bank to withdraw funds from your account.

We have run into a situation where there was a "glitch" in the system. The ATM did not dispense our money, but the funds were transferred out of our account. When this happens, you could always try and speak to a teller in the bank (if the bank is open) or phone your bank as soon as possible and let them know what happened - they will start an investigation to get the money returned. It took us about 2 months to get the money put back into our bank account.

Another question people have about the island is whether or not the businesses take credit cards. Quite a few of them do, but it isn't your best option to pay by credit card. The reason for that is that most businesses will add on a surcharge of about 3-5%. It is better to pay in Cordobas whenever possible.

You will find the bank on the Brig Bay side of the island, on Via Principal across from the entrance to  where you can walk across the runway.