The general public is intended to mean individuals (retail level “peers” or “P”) as originators or recipients of digital payments. It could also include sole proprietors who operate as micro and small businesses, provided that the volume and profile of their transactions do not single them out as businesses. Whenever the active transactions profile distinguishes a wallet holder as a potential commercial operator, the Central Bank will require the financial intermediary to undertake the due diligence to enrol the wallet as a business operated account; or through the due diligence process, document the affirmation that the account is non-commercial.
Sand Dollar is the digital version of legal tender (cash) issued by the Central Bank of The Bahamas. Like cash, you keep Sand Dollar in a wallet, a digital wallet.
The Central Bank of The Bahamas has built the infrastructure, technology and regulatory framework for its central bank-issued digital currency (CBDC) called Sand Dollar. The Bank’s supervised financial institutions are authorised Sand Dollar agents and can enrol customers through their tailored applications (digital wallets). For a list of Sand Dollar authorised financial institutions (AFIs) please click this link.
There are two tiers of individual wallets available:
Similar to issues with your bank account, if you experience issues with Sand Dollar you should contact your service provider. If you do not receive satisfactory resolutions, a formal complaint should be submitted to the Central Bank of The Bahamas. For a list of authorised financial institutions (AFIs), please click this link.