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Banks in Belize

We bank with Scotia Bank in Canada, are they also located in Belize and if so, can you transfer Canadian Currency via the local Scotia Bank and or ATM.

What other banks are currently in the country?

Scotia Bank
Address: 1st St S, Corozal, Belize
Phone:+501 422-2046

As for transferring money from Canada probably you need to contact the bank.

Bsimpson :

We bank with Scotia Bank in Canada, are they also located in Belize and if so, can you transfer Canadian Currency via the local Scotia Bank and or ATM.

What other banks are currently in the country?

Same name, but when you go into the Scotia Bank in Placncia they tell you they are not connected.

My recomendation is if you are going to open an account with a bank in Belize, go with Atlantic Bank International. Took me two months to get approval to open an account with them after waiting for six weeks to be turned down by the domestic Atlantic Bank because I was not a resident.

The folks at domestic Atlantic Bank could have told me that right away, but for whatever reason chose not to. And yes I had all of the Originals for all the documents and letters they list on their web site that one needs to open an account.

I got all my originals back, walked over one desk, four feet away, gave these same originals to the  Atlantic Bank International banker, he said it was all I needed and sent them in. Two months later I was notified all was well. Opening  a bank account in Belize can be a frustrating experience at best......oh and then there are the fees....... lots of them.  :o

Bsimpson :

We bank with Scotia Bank in Canada, are they also located in Belize and if so, can you transfer Canadian Currency via the local Scotia Bank and or ATM.

What other banks are currently in the country?

Our experience was a little different with Atlantic Bank. Once we had the required documentation our account was opened within a week, with no fees other than the minimal minimum balance (BZ$150.00 I believe) required to open the bank account and BZ$3.60 to have a check book made up. I find as Canadians some of these processes are a little easier than it is for our American friends. I can only assume it is because of FACTA requirements imposed by the US banks on the Central Bank of Belize and their concerns for money laundering.

There is a lot more documentation required in Belize than in Canada. We found a lot of service charges with Scotia Bank and were told we could not directly transfer Canadian funds. We have never been charged a service charge or an account fee from Atlantic Bank. We use our Canadian ATM cards and withdraw BZ$ to deposit in our local account. I would however recommend visiting your home bank and be sure that your debit cards are good for use at Belize (Caribbean) ATM's and have them raise your daily and monthly withdrawal limits to the maximum.

Here is a link to my video explaining the process and documents that you will be required to submit.

https://youtu.be/5xr-58J4-LQ

Good luck, I hope this helps.

Thank you so much for the information, this will save us a lot of headaches down the road!
Much appreciated!

Thank you also for the immediate response to my banking questions!
I am sure all the information you have provided can and will eleviate issues moving forward.

Very much appreciated!

My pleasure Bsimpson.

Hi Bill, I am glad not everyone has the experience I had.
My experience started in May of this year, when did you open the account you mentioned?

Will The Old.

We opened our account in May of 2015, so a year prior to you.

Hi Bill

We have not opened a acount as of yet, but just trying to be proactive when we do.

billdoesbelize :

Will The Old.

We opened our account in May of 2015, so a year prior to you.

Seems in the last year the reaction (over reaction?) by banks in Belize to changes in US Banking laws has made what should/could be a simple process more complex. One example, look at all the turmoil over Correspondent banking relationships that has happened this last year. Belize Bank dissolving its international division for another.

I think my recent experience is typical now for  US Citizens, and it will be interesting to hear feedback from Canadians as they go through the current process.

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