St Helena uses its own currency, the St Helena pound. Equivalent to the British pound, both currencies are accepted on the island. It’s important to note that the St Helena pound will only be accepted on St Helena and Ascension Island. The island’s bank is open from Monday to Saturday and can assist with transfers and cash withdrawals. There is no ATM on the island, and as such the bank charge a 5% commission on withdrawals using a debit card. There are limited credit card facilities. Due to issues with getting sterling to the island, the bank changes a 2% commission on these transactions. Finance is also available to local individuals and businesses. In general, loans are only offered to permanent residents of the island; however, the bank will consider offering a home loan to anyone looking to purchase property. There is only one bank on the island the Bank of St Helena.