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Banking/Moving Money

 

wills1235
(@wills1235)
New Member
Joined: 14 years ago
Posts: 1
March 19, 2009 5:10 am  

What's the best way to get a large amount of money into a new bank account in St. Thomas? We don't want to carry $$$$$$ or large amounts of travelers checks for 2 days through 3 airports. Thanks, Will


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vroberge
(@vroberge)
Advanced Member
Joined: 16 years ago
Posts: 266
March 19, 2009 8:57 am  

Why not try an electronic transfer once you have the account established on the island. Most banks will have the on line banking transfer option available to you.

At the very least, you could have the funds wired.


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Captain Jay
(@Captain_Jay)
Advanced Member
Joined: 16 years ago
Posts: 206
March 19, 2009 9:36 am  

Bring enough cash to get you through the first two weeks. Including enough to open an account. Then write a check from your stateside account to deposit into your new account. It will take ten days for that check to clear. I tried several times to wire money from the States to my bank here and no one could get the routing right it kept failing. I gave up and went the check route and saved the wire fees.
Jay


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Betty
(@Betty)
Trusted Member
Joined: 16 years ago
Posts: 2045
March 19, 2009 9:42 am  

Do not bring cash. That is always asking for trouble. Keep your bank open stateside, open a bank here and wire the money, then close your account stateside. Meanwhile your credit cards and atms from stateside will work on stt. Again do not bring large sums of cash.


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Afriend
(@afriend)
Trusted Member
Joined: 17 years ago
Posts: 521
March 19, 2009 11:58 am  

Wire the money from your "old" account to your "new" account on St. Thomas. I wire money to my Caribbean Bank all the time. It's easy and fast. The money is transferred "out" of my US bank one day and is available for my use in the Caribbean bank account the next day.

FYI - you can even set up automatic "repetative transfers" - i.e. have the same amount of money transferred to the same account at regular intervals (daily, weekly, monthly).


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Edward
(@Edward)
Trusted Member
Joined: 15 years ago
Posts: 704
March 22, 2009 9:52 am  

Talk to your banker at home and open your account in VI. Best ways: on-line electronic transfer or wire bank-tobank. You just need to get the information from the receiving bank (ABA code, swift code, etc.). I just went through the process. Piece of cake. They do it all the time.


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