ISLARIO
12/13/2016 00:10 EST
Please recommend a Nicaraguan bank, and any requirements to open an account.
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ricktee
12/13/2016 01:52 EST
If you get a Social Security check from the states it will be processed through the U S Embassy and deposited in BAC. It usually arrives by the 5th of each month. You will need to go to the bank to withdraw funds. BAC will issue you a Debit Master Card which you can use on their ATMs at no cost, other ATMs will charge a small fee. At the bank you can withdraw all of the funds if you wish to do so.
HTH
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atz111
12/13/2016 08:11 EST
Some banks require residency...maybe some don't...someone on here will know. Mine required tax return from the latest year and two letter of recommendation from Nicaraguan residents. BAC is the biggest and has USA offices...not sure they are the easiest to deal with. BankPro seems good.
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waltermboyleses
12/13/2016 08:15 EST
SocSec in the US tells us they cannot direct deposit to NI, but go to the bank, open a dedicated account for SocSec, take the account number to Ms Leon at the USEmbassy in MGA (ugh!), & it is done!
BAC charges $6/mo, but as the gentleman mentioned, no ATM fees.
I did not see the previous postings, but we have an account with Charles Schwab Bank in the US. They pay your ATM fees worldwide - sweet!
H2O 212 deg F
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elduendegrande
12/13/2016 10:21 EST
I like Lafise, lots of banks and ATMs and a great website where I can pay my bills online.
Keep at least 1 bank account in the US, for online stuff and just because.
You can suck money from a US account by at least 2 easy ways. --deposit a check monthly (and wait 3-4 weeks for it to clear or suck $500 or so from an ATM for a fee of $1 or so, except for BAC which I believe is more.
The US buck is legal tender here and preferred for big transactions, so you just have to convert to cords to small change and local purchases. Maxipali and other big stores take bucks at a good exchange rate and give change in cords.
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elduendegrande
12/13/2016 10:29 EST
As far as opening an account, go to the bank. If you are real lucky they will give you a list of what you need and maybe you will get it done on the next visit.
Eat a good meal and plan on at least 2 hours, bring copies of everything and data like your former employer's address, yada yada yada.
You will not be given copies of what you sign, so bring a point and shoot camera with you if that bothers you.
All of this will be done in spanish, plan accordingly. Customer rep may have to leave you frequently to talk to somebody in the mysterious back room or to call Managua
Usually you will get a savings account and a debit card. Checks exist here but are rare.
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johnchip
12/26/2016 13:59 EST
I have 2 Bank of America accts with debit cards. I use them to auto-pay my US cc bills, get my auto deposit SSA and pension, get cash in dollars and cordobas here. No need for a Nica bank acct. (2 BofA accts so I can transfer btwn accts if one card is lost or malfunctions) I do cash withdrawals at BAC and use my debit only at Colonia supermarket ATM. I also use my debit to make purchases where accepted. I get no bank or ATM charges at either end. If I use any other machine or bank I get charges from both ends.. Not sure why, but it works for me for fi
ve years now.
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johnchip
12/26/2016 14:05 EST
i should also point out, holding a Nica bank acct debit card can often get you a 5% discount at super and drug stores. But if you expect to seek any loans. Forget it. Most loans, auto etc are not given if you are over 55. I recommend you keep as much credit lines available to you in US as possible.
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