I bank at Bank de jerrydcs. 24 hour unlimited withdrawals, no deposit required, and no fees....
Before anyone gets their panties in a bunch, I am just kidding.
I don't know the best answer for PayPal but I do know they charge merchants 4% of transaction costs so make sure you don't transfer your money that way! (Hopefully there is a cheaper 'transfer' option instead of setting up and paying yourself as a set of merchant accounts.)
Hadn't thought of that. Thanks again for the input. Have a great holiday weekend...
Bank of America online has a function with which you can transfer $ to other accts outside BOA. I transfer to my 1st Bank acct. and also have set up other accts as direct deposit, shorting the clearing time. I pay 99% of my monthly bills with a credit card and get miles and maintain a 0 balance. I rarely see the inside of a bank except for some work transactions. I also keep a small savings acct at Bank of STX for access when all the 1st Bank ATMs are empty. I hardly ever walk with cash.
My bank is Scotiabank. I have no problems with them. I can use their ATM cards anywhere on island or in the world. If i deposit cash at 10 am I can take it back at 10:01. No wait. They are required to open in between on long holiday weekends as that is the condition of their license to bank her ein the Virgin Islands. The banking board oversees that. First Bank and Banco Popular on the other hand march to the bat of their own drummer.
I had a First Bank account and wrote a check to a tenant to return their deposit. The bank refused to cash it because my signature didn't match. That's good. Now they wanted me to call them to verify it. What nonsense, they should have called me to verify while she was there but no. Once I worked my way thought their stupid telephone system, I got to peak to the bank officer that refused to cash it. I told him it was real, I told him everything that was on the check. I had only written it earlier that day,. He then told me that no matter, my signature doesn't match, so he won't honor it. She cashed it at another branch where the officer must have had more brains. This is just one story with them.
There are others. I have similar ones with Banco Popular as well.
FirstBank's official line about why they treat cashier's checks like regular checks is "it could be fraudulent." Yet somehow potential fraud isn't a problem for any other bank that deals with cashier's checks! [There is no cross-eyed, you-idiots smiley, or I would insert one here.]
Someone else mentioned FirstBank's great online banking services. They're quite good... when the site is up ... which it hasn't been all morning! 😛
We wired money from a state side bank to Scotia, absolutely no problems. Thought it was a little weird the money went from Colorado-N.Y. Chase Bank, San Juan and ST Thomas, all in a day. Money was available that afternoon. Why does Scotia's bank card not have any Visa logo, just a plain card? They told us Scotia was working on changing to Visa cards as well in the near future.
Novanut my friend - and now you see how so many of us first-time-living-on-islander's have found and have benefited from vinow's message boards!
I'm happy to see so many really informed posts jumping right in to help you with good info.
Take good care and enjoy your new island life!!!!!!!!!!!!!!!!!!!!!
Walk somewhere? Don't they have $1.ride safari's on STX???????????????
I've been with Scotia since the day I moved here. I wouldn't use any other bank....here...First of all, FDIC is broke and looking to congress for an infusion of funds to ensure they can back the accounts they insure. So that's not something that I use to decide where I bank.
I shopped my mortgage around when I first arrived on island and the best I could get from Banco Pop. or First Bank was 60-90 days to closing. Scotia closed my loan and I was in my home in 28 days. I never pay ATM fees even if I use my other (stateside) bank's card at their location. Also when I closed on my home, they accepted a large cashier's check at the closing with no questions asked. ( I suppose they had the home as collateral, but they took the check)....Anyway, that's my 2cents.....
Hi John -
I use First Bank - although my choice is not so much an endorsement as a practicality.
My biggest gripe: on long holiday weekends (of which there are MANY here on STX), the First Bank ATMs run out of money. I've trekked - without any luck - from Sunny Isle to to C'sted in search of a First Bank ATM with available cash.
It was in C'sted that I discovered I could withdraw from my First Bank account using Scotia Bank's ATM - without incurring any fees.
Now, however, I plan things a lot better prior to holiday weekends and join the Friday morning masses withdrawing all that cash from First Bank ATMs!!
Again, thanks all for your valuable information!
Today I made the loooong walk to Scotia bank and opened a 'really free checking account' Was treated very well and they took the time to try and sell me every service they had to offer. Very polite staff. Even extended me money $100. to tide me over until they release the rest, usually 7 days...
Once that happens, WATCH OUT! Another newbie trying to learn life in the left lane! Maybe I can find something with rubber baby buggy bumpers...