General Consumer Knowledge
Education & Protection
The information in this section aims to provide useful tips about the importance of consumer education and protection as well as understanding your options and knowing the right questions to ask companies such as banks, insurance agencies, insurance brokers, and advisors when using financial services.
To help consumers make informed decisions during their transaction activities, the Cayman Islands Monetary Authority (CIMA) publishes a summary list of fees charged by domestic deposit-taking institutions. The list is updated quarterly and includes fees such as cheque cashing, cheque deposits, cash withdrawals and deposits for account and non-account holders but does not include all fees charged by the listed institutions.
Although these deposit-taking institutions are currently registered and regulated by CIMA, we do not have the authority to control fees as such charges are commercially driven.
Middle Age Adults
Losing your home is the last thing any homeowner wants to think about. However, by understanding the foreclosure process and what often leads to it, you can better position yourself to deal with potential problems that could impact your ability to service your mortgage and place your most valued asset at risk.
Foreclosure is a legal process that creditors use to satisfy your financial obligations to them. Not paying a debt, like a mortgage or second mortgage, can trigger a foreclosure. CIMA advises all individuals with a residential mortgage to take heed of the following:
Every year, we witness the impact and destruction of natural disasters around the world, such as hurricanes, earthquakes, tsunamis and storm surges. Here in the Cayman Islands, we have experienced our own share of natural disasters. While these events are difficult to predict, it is not difficult to prepare and offset financial losses before they occur.
With hurricane season approaching, property and motor vehicles owners should be mindful of the following:
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