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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.

Why should I use Sand Dollar?

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.

  • Sand Dollar is much safer than cash. If your purse or wallet is lost or stolen, your cash is gone forever. However, if your mobile phone is lost or stolen your Sand Dollars are safe because they are not stored on the device.
  • Sand Dollar provides an excellent record of income and spending, which can be used as supporting data for micro-loan applications.
  • Sand Dollar can be accessed flexibly with either a mobile phone application (iOS and Android) or using a physical payment card to access your digital wallet.
  • Sand Dollar presents zero transaction fees for individuals.

How can I get a Sand Dollar 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:

Tier I

  • $500 eWallet holding limit, with a $1,500 monthly transaction limit.
  • Government-issued identification is not an enrolment requirement.
  • Cannot link to a bank account.

Tier II

  • $8,000 eWallet holding limit, with a $10,000 monthly transaction limit.
  • Government-issued identification is required for enrolment.
  • Can be linked to a bank account.

Where can I find help?

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.

Enrolment Steps

  • Choose and contact your preferred Sand Dollar enabled authorised financial institution (AFI).
  • Select from the available options. For example, business or individual, wallet limit etc.
  • Provide the requisite KYC (know your customer) information.
  • Download your selected authorised financial institution's (AFI’s) proprietary eWallet and follow their unique instructions.