American banks on Dominica?

[chiro2md]

I was hoping someone could clarify whether or not "CITIBANK" had a branch (a physical building) on Dominica. I was told this by a student who is not on the island yet. Can someone please confirm/deny this for me. Thank You. :?

[MitchDC]

No, you won't find a Citibank or any other recognizeable US banks here on the island.

The bank everybody uses is the National Commercial Bank of Dominica. They have a website if you need details on this bank. There is a NCB branch and an ATM on campus which makes it very convenient.

MitchDC

[jfriedla77]

from the welcome packet...

"To transfer money directly into a students's account at National Commercial, you must use one of their corresponding banks in the U.S. They are: Bank of New York, Bank of America, NationsBank, and Citibank."

so, it looks like it's easier to get money transferred (maybe cheaper?) if you have one of these banks....anyone?

[Fear]

hey j... if you have a chance get a Visa check card from your bank, its like a debit card/atm card from your checking account. and when you go to open your account at NCB they will use that card as a check for your initial deposit, that's what ive been told by everyone. By the way, other than a passport and money what do we need to open an account at NCB?

[pablo]

Just so you know there is a fee for this...i forget how much but I think it is a percentage. I think if you are not on financial aid then your best bet is to bring traveler's check's and deposit them...or a normal check but this may take a while to clear..traveler's checks better. If you are on financial air then you will get a check when you are here and you deposit that...just bring enough money to get you by for a while b/c sometimes you don't get your check for a month or so into the semester. Remember when you first get here there is lots of extra expenses...security deposits, 1st months rent, deposits for phone/internet, cable...everything!

[Ross]

Pablo is correct. There is a fee for using the debit card at NCB. Both NCB and the home bank will assess a fee. All of his other suggestions are good ones and will work, but I have one additional suggestion. You can use that debit card at the Caribbean International Bank, an affiliate of Barclay's Bank. They do not assess any fee. The home bank will still assess one but my bank only charges me US$3.00 per transaction.

When you are in Roseau, you can also use the debit card at the Royal Canadian Bank without an additional fee as well as at many vendors such as Astaphan's, Brizzee Mart, Coco Rico's, Fort Young, etc.

[Fear]

can anyone tell me what the fee is? does it make sense to transfer a significant amount of money or is there a percentage and its better to bring mostly cash and deposit it? is there a fee for personal checks? thank you...

[pablo]

i have not tried personal checks b/c the bank claims they make take several weeks before the money is available...i would still advise the traveler's checks...usually you do not want to test them on their time estimates here..you will learn this..when they say weeks it could mean months.

I forgot about Dean Wagner's suggestion. I have not done this b/c I use ncsb..they have a branch on campus.. but a diff. bank about 5 mins away from campus (1ec...around 40 cent ride away) I guess will let you use your u.s. card..except it will be difficult to transfer a lot of money at one time this way b/c there is a limit how much you can take out at once. Traveler's checks are cheap.

Like the Dean also said you can use your credit card from home at many places around..even the campus bookstore...to use it in the campus bookstore you must use 25$ ed...but if you don't want to spend that all in one shot you can charge 25 and they will create an account for you..

Also if you want to bring ec with you..which is not totally necessary b/c the taxi's and hotel the first couple nights will take us (hotel will also take credit)..make sure you go to your bank a while in advance..I found out that most banks don't carry ec and you have to order it.

I was worried as you are about money, but found it not to be that big of a deal. Lots of things coming here might be a little inconvenient, but it is easily manageable.

[Fear]

thanks a lot for the info.

[MitchDC]

They only charge like 1% and my bank in the States only charged me a couple dollars for an out-of-network transaction. Its well worth the fee, considering some of the options.

-M

[Fear]

mitch thanks that's exactly what i wanted to hear, since you did it this way, how long did the transaction take?

[MitchDC]

Just as long as it took for the card to swipe through the machine and for me to sign the slip. The money was available immediately.

MitchDC

[Fear]

Excellent... :D i guess i won't take too much cash with me... thank you Mitch!

[pablo]

Br prepared to spend a little more time than that in the bank. Although it has really helped a lot that we have our own branch on campus now, the banks here are slow (as is everything here)..I have waited in line at the bank for an hour in the past. You will definetly learn patience here!

[MitchDC]

Yes, as Pablo said, the time in line will take longer than what you need to accomplish.
-M

[Fear]

patience should be our virtue anyway. no problems.