How to open a bank account in Mauritius

Non-resident foreigners in Mauritius

Banking in Mauritius for non-residents

Mauritius allows non-residents to open a savings account in rupees or foreign currency in the country without requiring a minimum stay in the country. Please note that some banking institutions automatically redirect them to the private bank.

Mauritian rupee bank accounts

The Mauritian rupee savings account allows its non-resident holder to receive funds in installments or transfers. The account holder also benefits from a debit card for withdrawals and payments, as well as the possibility to make regular transactions, withdrawals and transfers of funds.

Foreign currency bank accounts

Foreign currency accounts are authorized to receive funds only by bank transfers, national or international. They also bear interest at fixed rates (term account) or variable rates (interest on the amount available). Ask your Mauritian bank about the procedure to follow.

To help you out Here's our recommended banking service.

Important:

Any cash deposit of foreign currency is possible in a foreign currency account, provided that the currency, once converted, does not exceed Rs 500,000. The bank is allowed to ask for proof of the origin of the funds, depending on the amount to be deposited.

Good to know:

Foreign currency current accounts in major foreign currencies are available to residents and non-residents (Euro, Dollar, Rand, etc.).

How to open a nonresident bank account in Mauritius

If you wish to open a non-resident bank account while being in Mauritius, you will need:

• Original and copy of a valid passport (in color);
• Original and copy of a proof of residence in their country of origin (in color);
• Bank reference from the country of origin indicating that the account is well managed and does not have any anomalies;
• CV stating the professional status of the account holder.

Opening a nonresident account online in Mauritius

To open a remote account:

• Contact the management company located in Mauritius, which is approved by the Financial Services Commission (FSC);
• Or contact the bank of your choice and ask about the possibility of opening a remote account for foreigners.

Resident foreigners in Mauritius

Mauritian Rupee Current Account

To open a Mauritian rupee current account as a resident, you need to present:

• A copy of your passport and the corresponding visa;
• A proof of address (a utility bill in your name, such as CEB, CWA) dated within 3 months;
• A certificate indicating the origin of your income or assets;
• Your residence permit issued by the relevant authorities.

Read also Occupation Permit in Mauritius

In general, a minimum deposit of Rs 1,000 to Rs 5,000 is required. Ask for confirmation from the bank you have chosen, as the amount may vary from one bank to another.

Good to know :

Since 2022, the Bank of Mauritius has committed to ensuring that a bank account can be opened within one week.

Leading banks in Mauritius

The Mauritius Commercial Bank Limited

Head office: Sir William Newton Street, Port-Louis

Phone: (230) 202 5000

Fax: (230) 208 7054

E-mail: mcb@mcb.co.mu

Web: MCB

The opening hours of the banks are Monday to Thursday: 9 am to 3:15 pm

Friday: 9 am to 5 pm

SBM Bank (Mauritius) Limited

Head-office 1, Avenue Queen Elizabeth II, Port-Louis

Phone: (230) 202 1111

Fax: (230) 202 1234

Email: sbm@sbmgroup.mu

Web: SBM Group

Absa Bank (Mauritius) Limited

Head office: Wall St, Ébène

Phone: (230) 402 1000

Abby on WhatsApp: +230 5919 0001

Email: customer.contact@absa.africa

Web: ABSA Bank

AfrAsia Bank Limited

Head office: Bowen Square,

10, Dr Ferriere Street, Port-Louis

Phone: (230) 208 5500

Fax: (230) 213 8850

Email: afrasia@afrasiabank.com

Web: AfrAsia Bank

ABC Banking Corporation Ltd

Head-office: WEAL HOUSE, Duke of Edinburgh Avenue, Place d'Armes, 11328, Port-Louis

Phone: (+230) 206 8000 / (+230) 208 0088

Email: info@abcbanking.mu

Web: ABC Banking

Swift Code : ABCKMUMU

Bank One Limited

Head office: BANK ONE 16, Sir William Newton Street, Port-Louis, Mauritius

Phone: 230 202 9200

Fax: 230 212 8883 Cards

Hotline: 230 467 19 00

Web: Bank One

HSBC Bank (Mauritius) Limited

Head-office : 6th Floor, HSBC Centre, 18, Cybercity, Ébène

Phone: (230) 403 8333

Fax : (230) 403 0999

Email: hsbcmauritius@hsbc.co.mu

Web: HSBC Mauritius

Standard Bank (Mauritius) Limited

Head-office : Level 9, Tower A, Cyber City Ébène, 72201, Mauritius

Phone: +230 402 5200

Email: clientservices@standardbank.mu

Web: Standard Bank Mauritius

Standard Chartered Bank (Mauritius)

Head-office : Level 15, Newton Tower, Sir William Newton Street, Port-Louis

Phone: (230) 213 2390, (230) 213 2391

Fax : (230) 213 0968

Email: mba@mba.mu

Web: Standard Chartered Bank Mauritius

BCP Bank (Mauritius)

Business Center: 5, Duke of Edinburg Street, Port-Louis

Client relations office available from 9h00 to 17h00 from Monday to Friday – excluding public holidays

Phone: (230) 207 1000

Web: BCP Bank

Contact: Contact Us - BCP Bank

Important:

Before choosing your bank, check the relationship between your country of origin and the Mauritian bank. It will be imperative to justify the origin of funds for large deposits in Mauritian accounts.

Foreign accounts are structurally credit accounts. However, special arrangements can be made for term deposits within the same institution.

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Online banking and mobile payments in Mauritius

All banks in Mauritius offer their customers online services and mobile applications from which they can manage their personal finances. Here is an overview of the solutions available to date.

The MCB

Internet banking

The MCB offers internet banking to its customers, who can manage their accounts at any time. To access it, you will have to request a login and password from one of the many branches across the island. MCB online banking allows you to:

• Open a savings account, current account, or single account with a fixed deposit;
• Check account balances, current and past transactions going back up to 6 months;
• Move funds between accounts;
• Make an instant payment or schedule, both locally and internationally;
• Quickly pay bills by selecting recipients from the ready-to-use recipient list;
• Send funds to personal credit cards and prepaid cards;
• Create a standing order for automatic payments;
• Have a clear view of your direct debits, loans and investments;
• Sign up for services such as MCB Refill, Juice or MCB Secure;
• View E-statements to track expenses. Available for a full year, the dematerialized statements can be downloaded and printed at will during this period;
• Receive, withdraw and send money via PayPal.

Mobile banking

On the mobile side, the bank offers "Banking by SMS", which allows you to:

• Check your account balance;
• View the last 5 banking transactions;
• Make transfers between your MCB accounts;
• Receive notifications by SMS (salary payments, deadlines, failure of standing order or direct debit);
• Refill your mobile credit instantly by sending an SMS to 8700 to receive your credit;

Important:

The MCB SMS Banking is a paid service. However, the bank also has a popular application called "MCB Juice", which allows a variety of services, such as:

• Send and receive money instantly;
• Send and receive money instantly with a phone number or an account number;
• Refill your mobile phone number or another number instantly;
• Transfer to a mobile phone number;
• Send or receive and withdraw money from an ATM without a card;
• Pay for your purchases by simply scanning the QR code of merchants who are equipped with it;
• Authorize or deactivate Touch & Pay, foreign or online transactions, change the PIN code of the card associated with the account, lock the card if it is lost;
• Link the Juice account to the Paypal account to recharge your account, send money and transfer funds;
• Touch ID or facial recognition.

The SBM

Internet banking

The banking institution presents its internet banking as offering a "360° view". Indeed, this option allows customers to reset their password online, pay their bills (CEB, CWA, MyT, etc.) remotely, transfer funds, and verify deposited checks.

All local and international SBM accounts are now available on the same page.

Mobile app

SBM also has a banking app called "SBM Mobile Banking App" accessible to both iOS and Android devices, which can be downloaded for free from App Store or Play Store. It allows you to:

• Request balance from anywhere in the world;
• Make a funds transfer and consult the mini statement;
• Make payments to another local bank;
• Report lost ATM card;
• Sign up for paperless statements;
• Pay utility bills/standing orders, including payments to institutional payees;
• Pay monthly mobile phone plans;
• Instantly recharge a mobile phone number;
• Recharge a prepaid card;
• Refund bills paid with SBM credit card;
• Request a checkbook;
• Stop payment on a check.

Maubank

Another popular bank in Mauritius, MauBank also offers an internet banking service, through which it is possible to transfer funds between MauBank accounts or to other local banks, manage one's accounts (balances, transactions made), and fund one's credit cards.

Mobile app

The MauBank (MauBank With Me) mobile app allows:

• Access by fingerprint or facial recognition;
• Instant activation;
• Download your account statements;
• Check your balance;
• Recharge your mobile phone;
• Top up your credit card;
• Make cardless transfers and withdrawals at ATMs;
• Block and unblock your card;
• Open accounts;
• Transfer funds from foreign currency accounts (FCY).

ABSA Bank (Mauritius) Limited

Internet banking

Through its Internet banking services, ABSA Bank allows its customers to:

• Make instant domestic money transfers;
• Make international money transfers;
• Pay their bills;
• Pay off their credit cards;
• Recharge their mobile phone numbers;
• Make direct debits for recurring bills;
• Manage their debit card;
• Transaction limits;
• Update their email address/ mobile number;
• Set their one-time password (OTP);
• Set a travel notice;
• Download the 24/7 E-statement;
• View their transaction history;
• Use advanced filters on account activity.

Mobile app

Absa Bank's mobile app allows you to:

• View account activity;
• Authorize transactions;
• Transfer funds, pay bills;
• Download your statements;
• Update your email address or mobile phone number.

AfrAsia Bank Limited

Internet banking

AfrAsia Bank's internet banking allows users to access their accounts and manage their money online 24/7 through the user-friendly online banking interface, equipped with a 2-step authentication and one-time password for login and transactions.

Once logged in, users can:

• Check balances and recent transactions;
• Pay bills and transfer money;
• Stop payment on checks;
• Order new checkbooks;
• Update personal information;
• Download recent statements;
• Enroll in E-statements.

Mobile app

The AfrAsia Cards app allows you to:

• Manage AfrAsia Bank World, Titanium and Gold MasterCard credit cards;
• Activate and deactivate any of these cards;
• Create and manage a personalized secret code;
• Register your card to receive a one-time password (OTP) to validate purchases;
• View the history of transactions made with a card;
• Check your account balance at any time;
• Know all the current offers related to the card;
• Report card blocking in case of need.

ABC Banking Corporation Ltd

ABC's internet banking allows you to:

• Check and manage your accounts at any time;
• Transfer money between your ABC Banking accounts;
• Order a checkbook online in a few clicks;
• Pay your income tax to the MRA;
• Transfer money to another local or international bank account;
• Consult your credit facilities and repayments;
• Make transfers to third parties;
• Consult your transfer orders.

Bank One Limited

Internet banking

Bank One's internet banking allows you to:

• Access your accounts immediately, 24/7;
• View your transactions and statement history at any time;
• Make payments and transfers to a local or international bank account;
• Pay your credit card balance or add funds to your prepaid card;
• Set up recurring payments;
• Track your loan or mortgage account.

Mobile app

The app allows you to:

• Check the balance of all your accounts on the dashboard;
• View your balance without even having to log in;
• Transfer money;
• Recharge your Emtel or MyT balance;
• Recharge your prepaid card;
• Cancel a lost card;
• Manage personal and business accounts from a single login.

HSBC Bank (Mauritius) Limited

Internet banking

Through HSBC Mauritius' internet banking platform, customers can:

• Make transfers and payments;
• Access their account details;
• Open and manage their fixed deposit account;
• Manage their cards;
• Update their personal details.

Mobile app

It allows you to:

• View account balances and statement information;
• Authorize payment instructions;
• Receive notification of payments ready to be authorized;
• Do online shopping in Mauritius.

The International Trade Administration describes e-commerce in Mauritius as still limited, although its use is increasing, especially since the COVID-19 pandemic.

BCP Bank (Mauritius)

BCP Bank (Mauritius) offers a dedicated "My Tools" section on its website to assist clients in their daily financial endeavors and to help them plan their projects. This space features online loan and savings calculators that facilitate decision-making. The Internet Banking platform conveniently ensures clients have 24/7 access to their accounts.

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Online shopping in Mauritius

With Mauritius' transition to fiber optics, a number of companies have invested in e-commerce platforms for services such as searching for tourism offers or finding gardeners or housekeepers (deals.mu, marideal.mu, priceguru.mu, mychauffeur.mu, etc.). These platforms allow their customers to pay for their purchases by credit card, debit card or PayPal.

While in the past, many Mauritians used websites more to gather information than to shop, this has changed with the lockdowns as more businesses have shifted to online shops or have an online option. However, many small Mauritian businesses still prefer to use social media to reach their target market.