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Bank Updates

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CharlesA
3/3/2020 16:40 EST

Banking here sure has changed over the last couple of years.

1. Does anyone know of any Nica banks that still accept from their clients personal checks for deposit into dollar accounts and if there is a fee for such transactions?

2. Are there any Nica bank ATMs that don't charge ATM fees for USA-bank debit-card dollar withdrawals?

Thanks.

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johnchip
3/3/2020 18:05 EST

Until January, I used my debit for cash (dollars and/or cords) in the ATM at Colonia and had no fees. Now $4 per withdrawal. Now I do once a month in dollars only and change dollars for cords in the street.

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CharlesA
3/3/2020 19:14 EST

And that $4/withdrawal fee is the same for the $20 minimum withdrawal as well as for the $700 maximum withdrawal (the limit at some bank ATMs) right?

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novato1953
3/3/2020 19:44 EST

This one has an easy solution. Citizens of anyplace can open a Schwab checking account from anywhere with internet access and withdraw the money they deposit from any ATM anywhere with reimbursed usage fees and no foreign transaction fee. It's simple, it's free, it's easy, and it's as good as it sounds.

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JustSomeGuy
3/3/2020 20:58 EST

I did a $100 test withdrawal when I arrived a month ago and paid $4. Then a couple weeks later did a $700 withdrawal and paid $4.
I don’t recall the bank that owns the ATM.

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CharlesA
3/3/2020 21:03 EST

Thanks. I figure that's how it works:
A set ATM fee regardless of amount withdrawn (not based on a percentage of amount withdrawn).

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allianz international health insurance

For expats in Nicaragua, choosing an expat health insurance provider is an important decision. Get a quote from our partner, Allianz Care. Their plans ensure that you have access to quality healthcare whenever you need it. Allianz Care's flexible solutions allow you to tailor your cover to meet your needs and budget.

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CharlesA
3/3/2020 21:08 EST

Schwab accounts aren't completely free, are they? Aren't there various fees associated with various services/products?

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novato1953
3/3/2020 21:29 EST

Buy stocks or bonds and you're charged a commission. But the checking account, the debit card, and the ATM usage fee waiver are all gratis.

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CharlesA
3/3/2020 22:03 EST

Sweet.
Thanks.

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elduendegrande
3/4/2020 08:34 EST

BDF is the only one left that I know of that does not charge the transaction fee. And yes, it is per transaction with the other banks.
I was unpleasantly surprised in Panama when a BAC machine charged me $5 per transaction to withdraw from my Nic. BAC account.

Resently I asked at BAC about depositing checks and was told it is still not possible. Anyone ask recently at other banks?

My partial work around since this started is to use my amazon credit card to charge stuff at a few trusted locations like the supers and one gas station.

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CharlesA
3/4/2020 10:16 EST

As far as I know, BDF has bit the dust here.. Yup, Use a credit card wherever you feel it’s safe—especially if you have a good cash back rate.

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elduendegrande
3/6/2020 09:04 EST

In Esteli bdf closed its main branch and upgraded its Panam branch so the company is still around. Only bank we lost m/l permanently is the Lafise branch in Maxipali.

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mikee2
3/28/2020 12:16 EST

Sorry, what is BDF?
what is M/l ?
How did you lose money?

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mikee2
3/28/2020 12:18 EST

What's the minimum and is the IRS involved?

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