Banking
Banks in Mauritius
Opening accounts, international transfers and financial services.
The Banks
Main banks in Mauritius
MCB (Mauritius Commercial Bank)
Est. 1838The largest bank in Mauritius, founded in 1838. Unrivalled branch and ATM network across the island. MCB Juice mobile app is particularly well-regarded for peer-to-peer transfers and bill payments.
SBM (State Bank of Mauritius)
Est. 1973Second largest bank. Strong for business banking and international transactions. Also has retail branches. Expanding pan-African presence with operations in Kenya, India and Madagascar.
Absa Mauritius
Est. 1919Part of the Absa Group (formerly Barclays Africa). Particularly useful for those with South African business or personal connections. Good retail and corporate banking services.
Standard Bank Mauritius
Corporate and offshore banking focus. Strong for Global Business Company accounts and international structured finance. Less focused on retail banking.
Standard Chartered
International bank with a Mauritius presence. Primarily serves corporate clients and high-net-worth individuals. Good for cross-border transactions with Asia and the Middle East.
AfrAsia Bank
Est. 2007Boutique private bank known for attentive service and, relative to peers, faster account opening timelines. Popular with GBC clients and high-net-worth individuals. Award-winning private banking team.
BCP Bank (Mauritius)
Owned by Banco Comercial Português. Retail banking services. Good for those with Portuguese or Lusophone African business connections.
Bank One
Co-owned by I&M Group and MCB Group. Retail and business banking. Good alternative to the larger banks for personal and SME accounts.
Personal Accounts
Opening as a resident
Residents with an Occupation Permit, Premium Visa or Permanent Residency can open a standard current or savings account. Allow 2–6 weeks from application to approval.
- Valid passport (and national ID if applicable)
- Proof of address (utility bill, rental agreement — not more than 3 months old)
- EDB letter or Occupation Permit / Premium Visa certificate
- Source of funds documentation (payslip, business registration)
- Minimum initial deposit (typically MUR 10,000–50,000 depending on the bank)
Corporate Accounts
Opening for a GBC
GBC accounts require substantially more documentation. AfrAsia and SBM are generally the fastest for GBC accounts. Allow 4–12 weeks. Your Management Company can support the application.
- Company Certificate of Incorporation
- Constitution / Memorandum and Articles of Association
- FSC licence
- Register of Directors and Shareholders
- Proof of identity and address for all directors and beneficial owners
- Source of funds and business plan documentation
- Management Company support letter
- KYC forms completed for all connected parties
International transfers
SWIFT transfers are widely available from all major banks. Fees are low compared to the UK. MCB and SBM offer competitive rates. For personal transfers into Mauritius, Wise (formerly TransferWise) is a popular and cost-effective option.
Mobile banking
All major banks have mobile apps. MCB Juice is the most widely used — it supports peer-to-peer transfers, bill payments, QR code payments and airtime top-up. Most shops and markets in cities accept MCB Juice payments.
ATMs
ATMs are widely available in all towns and tourist areas. Coverage is limited in rural areas. Most machines accept Visa and Mastercard. The typical per-transaction withdrawal limit is MUR 10,000–20,000. MCB has the most extensive ATM network.
Financial services provider?
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