Could someone please share their banking experience at Saba.

1) Which bank do you use and the details surrounding that?
2) Do you place your loans in this bank or transfer to your home country's bank?
3) How easy is it to wire money from home country to local Saba bank?
4) Any other details or stories would be appreciated...

Thanks in advance!

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Ducman
Saba University School of Medicine

Ducman,
The students mainly use RBTT here on the island. Some actually open an account here - others, like me, simply use their ATM card and withdraw money.

No, there's no ATM, but they'll take your card. They'll also give you funds from your credit card if need be. RBTT doesn't charge for this service - I believe First Carribean does.

I actually have my parents deposit my checks for me (to save the $25 wire fee from the school and $10 wire fee from my bank each time). Other than that it's simply using the ATM card and transferring money from my savings to my checking online.

There's always the option, remember, of opening an account here. I believe the school will wire your funds straight to that account too.

Did I cover everything?

~SID 8)

I think I remember reading that Visa check cards work good at RBBT, which is what I"m planning on using.
Sid, you are saying you have the check mailed to your parents, right?

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Saba Forum Moderator
Saba University School of Medicine, MSIV
Interests: Pediatrics, Psychiatry

Why do most students use RBTT? I notice there's always a line there, but never a line at the Caribbean bank (forgot the exact name). Is it because of the fees? Are the fees waived if you open an account at either bank?

Wolf, Yes, I have the check mailed to my parents. They don't help me financially, so they help me get my finances. :P


Marla, I don't think First Carribean waives fees. I've never asked them, I just know that RBTT doesn't charge the fees and I was told FC does.


~SID

I think the biggest reason more people use RBTT is because they have no fees for cash advances on checkcards. I also recall that First Caribbean had shorter hours when it was Barclay's (though I'm not sure about that). I don't know what their hours are now.

I happen to have an account with RBTT, but I don't really use it. I have my loan check wired to my account at home and I take money out on my checkcard here. It seems to be the most secure and convenient plan.


Best of Luck!

I know that the "Visa check cards" are widely available in the US, but is their an equivalent available to Canadian card holders??? What other options are open to us?

At least you know what they are...I don't even know what a Visa Check Card is! Can't we just use are Visa card and take cash advances out of them?

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Loving the taste of MSG.

Wow someone replied to one of my questions. I have a really bad habit of killing topics.

Me.

Yes, you should be able to get a cash advance off your visa credit card just fine, but you will be paying the interest on that cash advance, plus whatever cash-advance fees your credit card charges.

You should be able to get a Visa Check Card in Canada, since Visa is a world-wide company. Just call the bank and ask.

A Visa Check Card is basically a debit card that draws on the funds in your checking account at home for free. So if I go to Costco on St. Martin and use my Visa Check Card, it's just like I wrote a check, only they WILL accept it because it says Visa on it, not "First National Bank, Podunk, USA."

I live off my check card, I use it instead of paper checks, and often in lieu of a credit card on-line.
The only trick is you have to remember to save all your receipts to balance your checking account.

Visa Check cards, because they are Visa cards, can be used anywhere Visa is accepted, and also function as ATM cards with a P.I.N. number your bank mails you. Like ATM cards, you get charged a fee for using an ATM not affiliated with your bank (in the U.S., anywhere from $1.50 to $3.00).

You can have a trusted relative or friend who will co-sign on your checking account meaning they can withdraw and deposit funds. That way, he/she can deposit your loan check they get in the mail, or you can have it deposited electronically. I think having an account at home is a great idea, so a relative can deposit funds for use almost immediately in case of emergency.

Current Students: How much does RBBT charge exactly to get cash off your Visa card?
$3?
$6?

__________________
Saba Forum Moderator
Saba University School of Medicine, MSIV
Interests: Pediatrics, Psychiatry