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US Funds Transfer to Belize Bank

Posted By: Cord

US Funds Transfer to Belize Bank - 03/19/10 02:39 AM

I was told by my bank that I can use my debit card to get a cash advance from a Belize bank and this would bypass all the fees my bank would charge.

Can I get a cash advance using a US Debit Card?

I was also thinking I could just wire the funds to the Belize Bank, but not sure about that.

The main reason is I plan on staying in Belize for a few months but didnt think it would be a great Idea traveling with a lot of cash.
Posted By: collyk

Re: US Funds Transfer to Belize Bank - 03/19/10 02:43 AM

You can just use an ATM.
Posted By: gailtor

Re: US Funds Transfer to Belize Bank - 03/19/10 03:10 AM

Not sure about US bank accounts, but we (Canadian bank account holders) do pay a service charge for using a debit card to withdraw funds from a Belize bank. Of course, we also pay the conversion rate to exchange the Belize monies to US funds BUT soon it appears that we will get a better rate.. smile
As you say, you don't want to carry around too much cash, so a better option.
Posted By: Cord

Re: US Funds Transfer to Belize Bank - 03/19/10 03:35 AM

I know about the atm but there is a fee for every atm transaction plus 3%. Not to mention the transaction limit. I was hoping to get a larger figure say, 500 US or 1000 Blz by going into the bank for a cash advance.
Posted By: renski

Re: US Funds Transfer to Belize Bank - 03/19/10 03:50 AM

is there someone that can tell me what it costs per SQUARE FOOT to build in San Pedro ???
Posted By: azbob

Re: US Funds Transfer to Belize Bank - 03/19/10 04:02 AM

Cord check with your bank. I'm with BofA and there is a charge for ATM withdrawal in Belize when i use my card. If you want to establish a Belize bank account, check the banks web sites for requirements: 2 letters of credit, etc.
http://www.belizebank.com/
Posted By: Cord

Re: US Funds Transfer to Belize Bank - 03/19/10 04:47 AM

I did read that about opening an acct in belize. As for the Belize transaction fee I have no problem. Its the US transaction fee of $5 UD and 3% that I dont like.
Posted By: *I Do* Belize Weddings

Re: US Funds Transfer to Belize Bank - 03/19/10 05:48 AM

bring travelers checks then if you are concerned about bringing too much cash.
Posted By: CaptOneIron

Re: US Funds Transfer to Belize Bank - 03/19/10 03:31 PM

Get a Capital One credit card and although there may be an ATM fee they do not charge the ridiculous 3% that most of the others are charging.
Posted By: Cord

Re: US Funds Transfer to Belize Bank - 03/19/10 03:59 PM

Travelers checks are OK at the bank. I read that it takes 6 weeks for them to clear from Belize and no body wanted them.
Posted By: sandyb

Re: US Funds Transfer to Belize Bank - 03/19/10 04:28 PM

You can open an account at a Belize bank, I use Atlantic, just bring 2 letters of reference from your bank at home. Then use the debit card tied to your new Belize account, no fees. Just bring enough cash for a couple of weeks & to open the new account. You can have your bank at home wire funds to the new account. My bank at home has my Belize acct# and info to wire (takes about 3-5 days to wire & costs a few dollars on both ends)
Posted By: azbob

Re: US Funds Transfer to Belize Bank - 03/19/10 05:29 PM

I've never had any problem with travelers checks. I've cashed them at the bank and several restaurants and bars. Keep you denominations low. It may be difficult to cash a $100US tc at a restaurant for a $20BZ meal.
Posted By: *I Do* Belize Weddings

Re: US Funds Transfer to Belize Bank - 03/20/10 01:30 AM

Traveler checks are accepted almost everywhere here, you do not need to take them to the bank. You have no wait time.
Posted By: GBZ39

Re: US Funds Transfer to Belize Bank - 03/20/10 03:18 AM

Bring as much cash as you can....best exchange rate.

There is a limit to the amount you can withdraw each time from an ATM. I believe it is about US$250.

There is a limit to the amount of money you can bring into Belize without declaring it. I believe it is US$5,000.

Capital One is the best card to use outside of the USA. Remember to call your credit card provider and tell them you'll be using the card outside of the US. Learned this the hard way...they refused to authorize the card after the first use.
Posted By: Cord

Re: US Funds Transfer to Belize Bank - 03/20/10 03:45 AM

Thanks for the info everyone. Sounds like I have a solution. Look forward to meeting everyone have a great day.
Posted By: Loansum-Al K

Re: US Funds Transfer to Belize Bank - 03/20/10 08:54 PM

When I wire funds from the US to my Belize Bank account, I have to notify Belize Bank and let them know where the money is coming from, e.g. my checking, savings, etc, and what I'm using the funds for before they will release those funds into my account.
Posted By: Phil

Re: US Funds Transfer to Belize Bank - 03/21/10 04:06 PM

Only if it's Bz$10k or more. Central Bank rule.
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