Adding rounded corner and drop shadow to UICollectionViewCell

Neither of these solutions worked for me. If you place all your subviews into the UICollectionViewCell content view, which you probably are, you can set the shadow on the cell's layer and the border on the contentView's layer to achieve both results.

cell.contentView.layer.cornerRadius = 2.0f;
cell.contentView.layer.borderWidth = 1.0f;
cell.contentView.layer.borderColor = [UIColor clearColor].CGColor;
cell.contentView.layer.masksToBounds = YES;

cell.layer.shadowColor = [UIColor blackColor].CGColor;
cell.layer.shadowOffset = CGSizeMake(0, 2.0f);
cell.layer.shadowRadius = 2.0f;
cell.layer.shadowOpacity = 0.5f;
cell.layer.masksToBounds = NO;
cell.layer.shadowPath = [UIBezierPath bezierPathWithRoundedRect:cell.bounds cornerRadius:cell.contentView.layer.cornerRadius].CGPath;

Swift 3.0

self.contentView.layer.cornerRadius = 2.0
self.contentView.layer.borderWidth = 1.0
self.contentView.layer.borderColor = UIColor.clear.cgColor
self.contentView.layer.masksToBounds = true

self.layer.shadowColor = UIColor.black.cgColor
self.layer.shadowOffset = CGSize(width: 0, height: 2.0)
self.layer.shadowRadius = 2.0
self.layer.shadowOpacity = 0.5
self.layer.masksToBounds = false
self.layer.shadowPath = UIBezierPath(roundedRect: self.bounds, cornerRadius: self.contentView.layer.cornerRadius).cgPath

Swift 3 version:

cell.contentView.layer.cornerRadius = 10
cell.contentView.layer.borderWidth = 1.0

cell.contentView.layer.borderColor = UIColor.clear.cgColor
cell.contentView.layer.masksToBounds = true

cell.layer.shadowColor = UIColor.gray.cgColor
cell.layer.shadowOffset = CGSize(width: 0, height: 2.0)
cell.layer.shadowRadius = 2.0
cell.layer.shadowOpacity = 1.0
cell.layer.masksToBounds = false
cell.layer.shadowPath = UIBezierPath(roundedRect:cell.bounds, cornerRadius:cell.contentView.layer.cornerRadius).cgPath

In case it helps: Here is the swift for rounding the corners:

cell.layer.cornerRadius = 10
cell.layer.masksToBounds = true

with cell being a variable controlling the cell: often, you will use this in override func collectionView(collectionView: UICollectionView, cellForItemAtIndexPath indexPath: NSIndexPath) -> UICollectionViewCell

Enjoy!