On my trip to San Pedro in a couple weeks I will be opening up an account. I've been leaning toward Atlantic Bank, just because it's the one thats most visible on the island and that's not necessarily a good reason to pick a bank.

So which bank do you recommend and why?

i used atlantic as well, they were easy to deal with, online banking, etc.

Belize bank for me, no particular reason other than that's where my contractor banks. They also have online banking. I can transfer online direct into my local helper's accounts online (assuming there's any $ left in my Belize account).

Don't forget your bank referrence letter, proof of income, 2 photo IDs a note from your mom and I forget what all else is required.

Also please take some photos of my newly planted palms and my new benches / table under the palapa for me when you go.

Planning on starting a project on your place soon?

Thanks

I've got my reference letters. Didn't know I'd need proof of income though.



Will do.



It is a possibility. We are hoping to either start building soon or acquire a condo (or both).

just trying to pick thru the red tape with BEL to get the electricity to the site. everytime i get where i think im close to getting a contract wrapped up to do this i run into a snag.......thank goodness i have nothing but time, lol.

you will beat me back down there i am sure.

I don't think you need proof of income - I didn't - but you do need to convince them that the money you are depositing isn't the result of illegal laundering. Showing your income is a straightforward way of doing that.

Illegal laundering - as opposed to legal laundering ?
Sorry Peter - it just struck my funny-bone.

As for banks - we like the services of Belize Bank.

Well yes Diana, there is such a thing as "legal" laundering. It isn't called laundering of course, but the methodology is the same.

I was asked to provide the "source of the money" being deposited. My interpretation of that was "proof of income".

I was again asked to prove "the source of the funds" on a recent wire transfer that was not a large amount of money. My wired funds were held for a while until the bank was given a response.

I used my US medical license as my "proof" that I generated "legal" income. It reality doesn't "prove" a thing but they will want some type of "proof" on paper that you are a legitimate income earner to put in your file as what I call "proof of income" or "proof of legal funds" or what ever label you want to give it. Just take something that shows you earn a living legally.

I have wired funds to my Belize Bank many times over the last three years, until last Otober when they held the funds awaiting an explanation of where they came from and for what purpose were you using them. They made that policy change about a year ago. Now I contact them prior to wiring the funds with the needed information and they release the funds as soon as they get the wire.