Banking on STX
I have read a few posts from people that have moved to STX and have kept their bank accounts stateside.
Could you tell me the good, bad, and ugly of banking on STX ??
Also, the advantages of keeping your account stateside (and do you use a stateside address on your account, or your STX address??)
When I move there this Fall would like to know the best way to do my banking with the fewest hassles!
Thanks to everyone for your help!
I love Bank of StX. Two locations (one with drive-thru), online banking and account transfer, nice tellers, not slamming busy, and no big goof ups with my accounts.
People complain about their banks but don't switch....seems weird to me.
I signed up with Bank of StX and can't complain!
Number one issue is generally customer service.......or lack there of.
You will have to wait 24 hrs on any (except cash) deposit before you are allowed the 1st $100 (unlike my stateside account, it's immediate).
1st bank will hold the balance of the funds for 7 business days prior to releasing them......other banks will axe...er I mean ask for 12 business days, prior to releasing the funds.
Fee's will range on what sort of account you want........we have a sorta fee free account. However we are required to do all banking thru the ATM & you DO NOT get checks, just a MC/Visa debit bank card.
I second the customer service, services (like being online), & bank loyalty to their customers. I work as a bookkeeper so I've dealt with all of them, except banco popular. Scotia is the worst. They will make frequent mistakes and their customer service is the pits. 1st bank I can deal with and have online services, bank stx is still kinda small fries and service can be very hit or miss.
I have kept my stateside bank because we have a great relationship with them. We been members of this bank for a very long time and we know the people there. I know if I need a loan or I need them to correct something or I want them to upgrade some new service they have for free, the answer has always been yes.
Never had any trouble with anyone accepting my stateside checks but I use very few of them as most things are paid online. I think I pay my trash and pest control with check, not much else. But even when we rented we had no troubles, other then we paid early so the check would have time to clear by the 1st for the landlord.
If I were i would move banking to St. Croix. Will not have to go through all the hassles if you write a check.
I use to bank with Bank of Nova Scotia. what a joke. moved to Bank of ST. Croix and so far no complaints. they are more like a stateside bank then the rest (my opinion) and good service. And its even better now that they have two locations.
I use to keep a stateside bank account open in case i needed it when i visited but why bother. Most ATM cards work at all bank here and stateside so bring your money here.
My husband and I maintain stateside bank accounts that are used for the bulk of our banking. We have kept them because they manage direct deposits and transfers without fees and problems. When we looked into transferring our banking locally we found way too many fees for the day to day management of our funds (they have a fee for everything - even to accept a direct deposit!). This was several years ago and may have changed but we have been happy keeping our accounts stateside. We do have a local account with a minimal amount in it for handling some local bills and payments to tradesmen (plumbers, contractors,etc.). This local account provides us with an ATM/Debit card and with checks. Most local accounts have a minimum balance required (typically $1,000) to avoid a monthly fee.
If you have a favorable relationship with your bank in the states I would recommend keeping that account until you get here and check things out for yourself to determine if the local banks can meet your specific needs.
We bank with first bank and use the F'sted branch and I have been very happy with them. Way back when Breezez double dipped our bank card for a couple hundred bucks, then refused to refund it, First bank was very, very helpful in regards to helping us get the money back. And I balance constantly to the penny, and have not yet found a mistake on FB's part. Plus, the people in the F'sted office are really nice.
I use Bank of St Croix for business and personal accounts and have always been happy with their service.
Can you tell me where the locations are for Bank of St. Croix? (I will be in Christiansted)
There is one in Gallows Bay next to the post office
The other branch is in Peters Rest across from the Coca Cola bottling plant. On the way to sunny Isle.
Good bank, friendly service.
The main reason why I don't bank on STX is that there is NO SUCH THING as free checking. All of them: Banco Popular, ScotiaBank, Bank of St Croix... they ALL charge for writing checks and such. I resent that and won't do business with them for that reason.
Like some people on this site, I use both a Stateside checking account and one with FirstBankVI on Stx. FBVI's branches are convenient for me.
My biggest beef: they ROUTINELY take 6 to 7 "business" days to deposit a stateside check into your account. That means 7 to 9 calendar days. This is true of all the banks down here. (It's 2 days in the States.)
Even paychecks drawn on one local bank can take 5 business days to deposit into another local bank account. Why should a check from Juan Luis Hosp drawn on Banco Poplar take 7 calendar days to show up in our bank acct at First Bank VI? (( Happens between all the banks here. Many of the employees simply take their paycheck to Banco, cash it, then walk it over to their own bank and deposit it as cash.))
This excessive delay can create some real problems and confusion. They do "dribble" a portion your deposit INTO your account every day or so --per their formula. But this makes reading your balance online or via your ATM a work of fiction and mystery as it's never what it's supposed to be, and changes every day.
And I find the delays somewhat suspicious too. One time I watched a check clear my stateside bank --wondering how long it would take FBVI to deposit the cleared funds into my local account here. It took 6 more days for them to deposit it into my STX bank acct.
....But it WAS a beautiful day today.8-)