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Local Bank Advice

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NealR2000
4/19/2016 14:03 EST

I want to open a bank account in Pana where I can have a GTQ-USD account for the purpose of facilitating a house construction project, and subsequent living expenses. I expect to fund it by periodically wiring funds from my US account back home. Is there a particular bank that anyone would recommend?

zaqwsx
4/23/2016 13:59 EST

My experience with G&T is all they want to open an account is a NIT card which is free from SAT for anyone, a passport from any country, a cell phone number and a copy of your residential electric bill (which does not have to be in your name). they will also give you a debit card with no fees withdrawals at 5B machines. To add the G&T account to your Wellsfargo internet banking for instant transfers all you need is the account number but it has to be done at one of their branches in the U.S. If your interested for Antigua I would open your account and use the branch on the Alameda between 4th and 5th calle. the branches on the plaza and behind the bus terminal get too crowded. For banking in
Guatemala think of banking in the U.S. 50 years ago, They actually still have signature cards in the home branch and check the signature against the signature on your checks and will reject them if they do not mach and your local branch will give you real service, all the employees will call you by name and the manager will greet you when you come in, if they are busy they will move you to the front of the line or open a new window for you. once you have a relationship with the bank even visa credit cards (a problem in Guatemala if you are over 65) are no problem they will even open accounts and give debit cards to your employees with no credit or banking history in order for you to pay them by internet banking. The same goes for a house account with a debit card in your jeffe de casa's name that you can, with internet banking, monitor and fund as needed. They will also provide car, furneral (it is cheap and gets you the local prices with no hassle) and medical insurance for you all at reasonable prices.

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William Russell's private medical insurance will cover you and your family wherever you may be. Whether you need primary care or complex surgery, you'll have access to the best hospitals & doctors available. Unlike some insurers, we also include medical evacuation and mental health cover in our plans (except SilverLite). Get a quote from our partner, William Russell.

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bajasur
4/21/2016 12:37 EST

zaqwsx, I understand from your post that one here in Gte. only needs a NIT from SAT and then take that number to G&T with your passport and one can then open a checking account at G&T without a sponsor. Is this correct? I'd sure like to open a checking account here in Antigua.

zaqwsx
4/20/2016 20:09 EST

I use G&T you need a net number, anyone including a tourist can get one for free by just asking at S.A.T. you also need a passport but no sponsor at G&T, they are the largest bank in Guatemala now and are located in most other central american countries, they own the Bank of Texas in the United States. I use Wellsfargo in the U.S. and set up internet banking with that you can instantly transfer between your Wellsfargo account and your G&T account for either no charge or a
$5.00 fee depending on your US account. G&T pays 3.5% on checking but they do withhold 10% of interest for taxes which if the amount justifies it you can file and get back.

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