Water Supply

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Water security in Guatemala is not a problem if you know to take the time to investigate the situation in the area you choose to live, then take the necessary measures to overcome the shortcomings in the system. The water in our residential area is only on for less than half the time. Yet we hardly ever notice it. In fact, we lived here for several months before we even found out. This is done to keep from having to install the infrastructure that would allow the water provider to provide flow and pressure for all the houses at once. (Continue Reading)

Using U.S. dollars (paper money) in Guatemala

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If you plan to bring U.S. money to Guat (which I do not recommend, as it is NOT universally accepted for transactions), make sure you go to the bank and get PRISTINE, NEW MONEY. Your bills will NOT BE ACCEPTED IF THERE IS !!! ANY !! form of disfiguring. That means ABSOLUTELY NO:

- marks or writing of ANY kind

- holes or tears AT ALL, no matter how small

-fading such as near the fold in the bill

- tape or gluing

- excessive folding

If you do choose to bring pristine brand new (preferably NON folded) bills, the best way I''ve found to use or exchange them in Guat City (haven''t tried outside the City) is PAIZ or Walmart. I suspect all Dispensa Familiar, Paiz, Clubco, Maxi Despensa, and Walmarts, as Walmart owns all of them. They will accept perfect paper money IF you make a large enough purchase. (that amount may vary, but usually at least Q30.) I''ve used a $100 bill at Paiz for a purchase of only Q33 and gotten change in local ''Q'' currency. And the great part is that when you use this at these stores, they do not charge ANY exchange rate fee; The transaction is automatic at yesterday''s official closing rate and is shown on the receipt (factura).

Avoiding Filing FinCEN 114 (old FBAR)

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It is my understanding that as of 2014:

To avoid the necessity of filing, you must NEVER have an equivalent (at current official daily exchange rate) of $10,000 USD or more in the TOTAL of ALL your foreign bank accounts in YOUR name. This allows your spouse or adult children to have separate accounts and NOT fall within your total IF YOUR NAME IS NOT ON THEIR ACCOUNT.

This means that if you wire funds to make a purchase, and funds sufficient to make your total reach $10,000 USD or more are in your account for even a second, YOU MUST FILE the form.

IF you reach that amount, make SURE you file by the deadline, as there is NO EXTENSION, and the fines are confiscatory.

FATCA in Guate

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Most banks ARE compliant with FATCA here in Guat. BI has even sent me a letter saying so. And according to Schwab, ATM withdrawals (as of 2014) do NOT fall under FATCA. (Continue Reading)

Using US monies in Guatemala

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A Schwab bank debit card and a Cap1 credit card has proven to be the most cost effective method of using my U.S. money in Guat. I pay NO wire or exchange fees or extra for exchange rates. And these methods offer an easy way to satisfy my rentista residency. The surest and easiest method is to get these accounts set up while in the U.S. BEFORE you come to Guat. For cash in Guat, I use a Schwab debit card at ATMs They charge NO foreign transaction fees, and rebate ALL ATM fees at the END of every month. I can call and raise the daily limit for ATMs, then take the money in Quetzales from the ATMs. Their exchange rate is actual, not as as charged by the local banks. For safety, I use the ATMs at the banks then go inside and deposit the cash from the ATM. (I recommend you NEVER use ATMs after banking hours,) Schwab did credit the only faulty transaction back to my account with no problems.

For non-cash, Cap1 Visa is excellent for spending U.S. monies here in Guat, as they do NOT charge ANY exchange or foreign transaction fees, use the actual daily Q/USD rate, and is nearly universally accepted here in Guat. (BE SURE to ask if the vendor is charging for the Visa convenience, or if there is a cash (efectivo) discount.