Thread: Banking online

How secure is it to bank online? I had a friend who went to Ross and said there were a couple of folks who had their accounts hacked into. I think it was something with the network, but not sure.

hmmm, not sure about that. There were problems with some ATMs on the island at one point but I've never really heard anything about e-theft.

We had 1 incident on the island where an someone from the bank stole ATM records and tried to steal CC numbers and such. A lot of people had to contact their banks and clearn things up. It was a mess, but not everyone was affected. My bank canceled my card before anything happened on their own. Maybe weird charges that didn't fit when my history of transactions or somthing tipped them off. Anyway, there are more problems on the islands, but thats the only one that affected me in the 20 months I was there.

I always used the ATM's and never lost money in them, or had any bad expereicnes. I used online banking for Bank of America all teh time and never had an issue either. If you get Bank of AMerica account, you get free atm withdraws from the Scotcia Bank atm in simpson bay. Thats NICE.

Originally Posted by Macgyver1

We had 1 incident on the island where an someone from the bank stole ATM records and tried to steal CC numbers and such. A lot of people had to contact their banks and clearn things up. It was a mess, but not everyone was affected. My bank canceled my card before anything happened on their own. Maybe weird charges that didn't fit when my history of transactions or somthing tipped them off. Anyway, there are more problems on the islands, but thats the only one that affected me in the 20 months I was there.

I always used the ATM's and never lost money in them, or had any bad expereicnes. I used online banking for Bank of America all teh time and never had an issue either. If you get Bank of AMerica account, you get free atm withdraws from the Scotcia Bank atm in simpson bay. Thats NICE.

AND the ScotiaBank ATM in the casino right across the street from the school!

Originally Posted by 19wingz

AND the ScotiaBank ATM in the casino right across the street from the school!

Thats right! I didn't learn about that ATM until 5th semester. To think of all those trips into town I could have saved. The only downside is the ATM in Atlantis Casino was down a lot.

Does anyone know if Washington Mutual (WaMu) allows for free ATM withdrawals now that they're with Chase? That's one of the reasons I like WaMu b/c it's free w/drawals in a lot of the ATM machines in the States, but how about on the island?

Thanks!

during the last white coat ceremony, i lost some sensibility and used my credit to start an open tab. it came out to a monstrous amount but thank god for online banking --- on top of 'bliss night club' someone had charged $300+ for Hooters on a st. Barth's island. I went online and found out that there wasn't a hooters on SXM (for shame), i probably just confused it w/ pr in my memory. I called my bank and got it back.

speaking of online banking, what is the best plan for having money on the island? is it better to open up an account at a bank there or can i get away with having bankofA handle all my money needs and just keep pulling out from the atms?

If you go Bank of America, be warned theres a per day limit on ATM withdraws. So when rent comes youll prob. have to visit 2 days worth of 600 dollar withdraws from the ATM. If your on the island, you can always go inside and get the money. The school gives you an option to get all your money in Island funds, .5 island and .5 us funds or all us funds. Its up to you. Just beaware that there are about 93043890434093 more banking holidays on the island vs the US's holidays.

If you open a bank account on the island and the bank gets blown away (or robbed), you lose all your money. There is no FDIC or anything like that. The process to open an account is ridiculously long. It will take you multiple trips to get it all taken care of. I didn't get my island ATM card till about a month after I initially tried to open my account. Just stick with an American institution.