Hey everyone,

I was just doing some searches on bank issues on the island and the most recent stuff it about 2 years old -- do you guys have an account on the island?? If so, which ones would you recommend?

Or is it more convenient to keep an US account? (BofA seemed a popular choice 2 years ago, due to their free ATM services which I believe they still have). Thanks in advance.

Echo

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"Me fail english? That's unpossible" -R. Wiggum

Starting @ AUC
May 2008

Some people have an account on the island, but I keep far away from local banks. They are extraordinarily slow if you ever go inside. Most people, myself included, still use Bank of America since you get free ATM withdraws from Scotiabank, which have an ATM right by school and in Simpson bay.

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AUC 4th Semester

just use your bank from home. see if they will wave some atm fees. avoid island banks as much as possilbe

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AUC Post-5th Semester
Undergrad: UC Riverside

The lines in island banks are beyond belief... literally you may have to wait an hour in a line with 8 people and 4 tellers working. And yea, these banks have no FDIC type of guarantees. If the bank gets robbed, hacked, or blown away by a hurricane, you will lose all your money. I would avoid island banks as much as possible. Even if you have to pay a few bucks to use your U.S. ATM card, a few hundred dollars is well worth the trouble you save by trying to set up an island account. Personally, I found it easier to open a Swiss bank account. You can get one with as little as $50,000 (+ a 1% commission fee on your deposits).

Bank of America is really the best choice. They have an ATM right by school, one in simpson bay and now one right in Cost-u-Less parking lot

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Birth is exciting, death is peaceful, its the transition that troublesome--Azimov

to clarify, its scotiabank

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AUC Post-5th Semester
Undergrad: UC Riverside

I've found it pretty convenient to use my Bank of America account most of the time, since withdrawals are free at Scotiabank ATMs. The only times an island account would be more convenient for me are at the beginning of the semester when I have to mail my loan check back to the US, and when I need to visit the ATM several times at the end of the month for rent money (versus just writing a local check).

Isn't it possible to get the loan check in local currency and deposit it to ScotiaBank to somehow make that available in your B of A account? I thought I had read that the other benefit to opening a B of A account is you can bypass the FedEx'ing of the check back home? Thanks

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UCSD --> AUC May08

Use Scotiabank here on the island. I have never waited more than 20 minutes. (I don't go at lunchtime). They have a deal with AUC so you take your financial aid check in and the funds are available immediately. No paying $40 to fed ex and asking someone at home to take care of it for you. No waiting 6 weeks and then having to pay AUC to reissue the check after trying to send via the regular mail (Ask slevit how long it took for his last check ) Scotia has internet banking and there is a Scotia ATM in the casino right next to campus. I went in one day, made an appt to open the account and she told me what papers I would need. It took less than 20 min the next day to open. I do agree that if you are using a US bank either use Bank of America or a bank that has no ATM fees

It only took a month and a half for my check to finally make it home.

Lesson learned - stay as far away from any st. maarten business as possible, because very few of them have any idea what they're doing. I'm glad someone had a good experience at scotiabank, but I have also heard of waits of over an hour there.

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AUC 4th Semester