Thread: Banking

Can students please advise me about banking and money? Do you just use your bank/credit card from home or do you join a grenadian bank and deposit money into that account to pay with or withdraw cash from atm's on a regular basis? Thanks for your advice!

Told you I'd find it...

Credit/Debit/ATM Cards and Foreign Exchange - FlyerGuide Wiki

Wow, that is very helpful, I guess I will figure it out from here.

Seems like i'll need to get a capital one checking account. Wells Fargo is 1% +$5/transaction. ouch.

For the Canadians going to Grenada. Apparently if you have scotiabank acount in Canada you can withdrawl from scotiabank grenada without charges. There is 2.5% added for exchange fee from Canadian to EC.

Are there actually any US bank branches in Grenada.... Bank of America, Wells Fargo, Chase, etc?

Originally Posted by multigrain23

Are there actually any US bank branches in Grenada.... Bank of America, Wells Fargo, Chase, etc?

no. sorry.

Originally Posted by multigrain23

Are there actually any US bank branches in Grenada.... Bank of America, Wells Fargo, Chase, etc?

No but Bank of America has a deal with Scotia where it will not charge any fees at the atm if you use their card.

Scotiabank - Global ATM Alliance

Hi while reading this old thread I saw something mentioned about traveller's checks...

Is this a good idea. I called my bank that I have in the states, Chase, and they told me I'd be charged $3 for every withdrawal plus 3% on whatever I withdraw, thus if I take the maximum of $500 out, I would be charge $15+$3 = $18US to take out $500US.

Thus I am asking if I showed up to the island with lets say 1-2grand in US traveller's checks can I cash these into EC's at a campus bank? Is this a better idea that potentially getting docked $18 to withdraw the max. amount from my bank account (which in my opinion is kind of alot)

Thanks

that does sound like a lot. My bank doesn't charge for w/drawls but I do get docked 1% by Pulse so I use my debit card instead of cash when possible. There is a local bank charge for cashing traveller's checks but don't know how much, sorry.

You could always open up an account on the island.

Schwab online will let you open a checking account that will allow you to draw money without any ATM fees (doesn't matter which ATM it is) or foreign-transaction fees. This is what I did and it's working out very well.