I was wondering what you guys did when you came to grenada, did u bring down EC from your local banks (please specify if ur from the states or canada) or did you bring down US or Canadian dollars and get them converted there. Where do you think i'll get the best rates for buying the EC, at home in Canada? Or by bringing US or Cdn dollars to grenada?

Also did u guys open up a bank account first thing in grenada or did you incur the international atm charges and forget about the bank account?

Thanks For Your Help

no. the excnahge is fixed; they take us and ec. just bring your money and change down there.

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Steph
If you get a warning, put on yer manpants and stop whining about it.

The exchange rate is 2.67 EC per 1 USD. Just bring the USD down and exchange in GND.

In terms of opening an account, there is a bank right on campus but the line is always long and the one at the mall is the same way. Also remember, while very unlikely, if there was another hurricane/natural disaster/coup etc, then funds in a GND bank might be hard to access.

I am part of a credit union from a former employer and they charge no ATM fees (GND banks do not charge ATM fees either) and a 1% international trans fee and no extra Visa fee. So, check out your nearest credit union. While I have to mail in my deposits and do my banking online, it was cheaper than any alternative. Here is a good article with a drop down list of banks for you to compare.

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~~SGU M1~~
Class of 2012

As a Canadian, I feel better knowing that my money is safely kept at my Canadian Scotiabank account. To access my money in Grenada, I go to the Scotiabank in Mont Toute (on a SGU bus route, also 5 minutes walk from Grande Anse). There is no ATM fee but I have not calculated the exchange rate (it varies based on USD/CDN rate).

If you decide to bring down cash to exchange in to EC, it would probably be best to bring Canadian Dollars and change them directly to EC at the Scotiabank, rather than exchanging Canadian to USD and then USD to EC (two exchange fees, potentially).

Just my two cents... (gotta love the square-shaped 2-cent EC coins!!)

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MS2 at SGU SOM

EhJJ,

Did you have to do anything special to your scotiabank accounts for them to waive the ATM fees? I know that I am still charged $5 CDN per withdrawl if i go through a Scotiabank ATM....

hey EhJJ:
Do you need to wire money from Scotiabank Canada to Scotiabank Grenada in order to use the money there or Do you have direct access at Scotiabank Grenada to your Scotiabank Canada account? Thanks!

I use my ScotiaBank account from back home to withdraw money here.
I am NOT charged a fee for withdrawal (NO 5$ fee). However if I use my RBC account, I will be charged a 5$ fee (either at Scotiabank Grenada or any other bank).

ScotiaBank in Canada and in Grenada are NOT exactly linked. They kind of are.. since you will get your receipt and it will tell you how much money you have left in EC$. But they are not linked as full access to info and all.

The scotiabank is right across from one of the grocery stores we shop at.. so it is not that hard to go there and withdraw say 800EC and it should keep you going for 2 weeks or so.

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MS-2 SGU

So would you suggest using ScotiaBank instead of bringing cash to Grenada then? If so, how do I deposit EC into ScotiaBank Grenada? Buy USD and then EC and then somehow deposit EC in ScotiaBank Grenada?

I take money out from my Canadian scotiabank using Grenadian scotiabank. I don't plan to open up an account here. Don't know what others are doing..

GUESSING that if you are to open an account here, it may be best to bring down travelers check.

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MS-2 SGU

Is it safe to bring along a lot of cash (in USD) to Grenada? What is the maximum you can legally travel with? And if you bring a lot more than the maximum, how would they find out?