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#211129 - 02/28/05 07:21 AM Banking Info
cindyb Offline
The information that came up on search here seems pretty dated...and I'm probably gonna open a can of worms, but...
Could anyone make suggestions on which bank to use in San Pedro?
Does anyone have any experience with stateside banks and transfering funds?
As always, any info is appreciated!
cindyb

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#211130 - 03/04/05 04:15 PM Re: Banking Info
RICH GUY Offline
From what I've been told, anything you transfer over US$5000 into Belize is reported back to the originating country.

I can't recommend a bank, but there are many.
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#211131 - 03/05/05 12:33 AM Re: Banking Info
Sir Isaac Newton Offline
Choosing a bank depends on what services you require.

Offshore, onshore, US dollar, BZ dollar, commerce, privacy, savings, invesment, ...

Transfering funds is easy. Using a licensed Casa de Cambio is a popular option.

SIN
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#211132 - 03/05/05 01:28 AM Re: Banking Info
Ernie B Offline
NOT !
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#211133 - 03/05/05 04:36 AM Re: Banking Info
cindyb Offline
Thanks SIN.
We are looking for a good bank that won't charge an arm and a leg to transfer funds from our US account for "living expenses" in Belize, USD to BZD. And a good bank for a small business account BZD only. I was hoping someone could relate good (or bad) experiences with the local banks in SP.
I wish we had enough that we needed privacy...

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#211134 - 03/05/05 04:42 PM Re: Banking Info
Sir Isaac Newton Offline
I would personally recommend Milo's Money Exchange on Pescador Drive.

My stateside friends use Milo's on a regular basis. Very easy.

Milo's 011-501-226-2196, milos@btl.net
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#211135 - 03/07/05 01:16 AM Re: Banking Info
indygal Offline
What we have done is we bring in US dollars, cash and travelers checks. We take them to Forex money exchange, because they give a better exchange then the bank. Then we take the BZ over to Alliance Bank for safe keeping. We use their ATM to get cash out of our Alliance account. We found them to be helpful and lines short. Forex has also cashed personal checks from our US bank.
The problem with the Bank I saw was they gave poor exchange rate and then held the funds for 10 to 14 days when gave them a check from a US bank. I assume you would not have to wait with a wire transfer.
The Banks require 2 letters of reference from your US banks - on letter head in a sealed envelope to open an account. This is not a quick process, so take enough cash with you to get by for a couple weeks. Good luck and enjoy. Indygal
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#211136 - 03/07/05 05:32 AM Re: Banking Info
cindyb Offline
Thanks so much everyone for the tips and suggestions!
I'm so spoiled to "online banking", I thought I could just continue to do the same!
Silly, silly girl...

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