Bank letter of reference

Hello there. This is directed to US expats.

We are in need to open a bank account in Belize, in order to fulfill the requirement for the QRP to deposit the requested money amount.

So, we are looking for a sample of what a "letter of reference" from a US bank looks like, since we have had no luck asking for one at our bank(s) here in the States, as no employee here as any clue as to what it need to say.

Appreciate any help, folks.
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Hello there. This is directed to US expats.

We are in need to open a bank account in Belize, in order to fulfill the requirement for the QRP to deposit the requested money amount.

So, we are looking for a sample of what a "letter of reference" from a US bank looks like, since we have had no luck asking for one at our bank(s) here in the States, as no employee here as any clue as to what it need to say.

Appreciate any help, folks.
- @TexItalian

When I had to do the same thing about 5 years ago, I went to the Atlantic Bank website, and they had a list of things that needed to be included and time lines valid for the information for opening an account.

I don't know how many Banks are currently operating in Belize, but look at the websites of all you can find.

At that time, Bank of America did not allow their bank managers to issue a "letter of reference" .

  • My Credit union and Comerica bank managers had no problem in issuing me one once I showed them the Atlantic website requirements.

Also call the Belize Truism Board at their 800- number if their website does not have the info, they are the ones running the QRP program.
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@TexItalian


Hi, I have the bank letter. Please PM me your email address so I can email it to you.



Coco
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PM sent
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I am planning on applying for QRP in Belize too. I am just beginning to get started and will need to open a bank account in Belize.

If anyone has recommendations as to which bank(s) are best to open an account with in Belize I would appreciate the information.

Also, I see from one of the posts above that Bank of America in the US was not cooperative with respect to providing the necessary bank reference letter. My bank of many years is Bank of America. Has anyone had any luck getting the reference letter needed from BoA?
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@CocoHer … if you don't mind, may I PM you to get a copy of tje letter you mentioned?

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Me to I would like to know of a Solid bank that I should use in Belize
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@CocoHer hello I will be moving to Belize sooner than later possibly October maybe sooner. But I guess I would probably need a letter from my credit union in Canada the same as you would use in the US. Could you send me a copy of your letter. So I can take it into the bank and show them what I need. Also I am coming down to open a bank account and I would like to know the name of a reputable bank that I could deposit money into or transfer into. Much appreciated my name is Brent.

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@OldSailor Can you send me the sample bank letter too? Thanks so much!
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American dollar  bank accounts are available, but why bother if you are living in Belize?  We have all our money where we live and only bring enough for a years expenses at a time..I will not recommend a bank even though we are very happy with ours.  Some of the expats also have a bank account in Mexico since we are so close to the border.  We live in Belize and do not travel that much into Mexico, so we only make deposits to our Belize bank to cover utilities and all bills we incur which is conveniently done online.  Everyones needs are different, so go to the Belize banks, choose one and put the letter you write in writing to your bank for what is required by the Belize bank you choose.
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@CocoHer Hello there.  I am also planning on moving down to Belize within the next several months and applying for residency.  If possible would like a copy of the letter you've gotten to show as an example to my bank in Canada.  I am also looking for a reputable bank to use while in Belize.  Do you know if I can open a bank account there while waiting for my residency?  I understand that my Canadian bank accounts cannot be accessed in Belize except through ATM withdrawals - do you know if that is correct?  Can I pay bills/rent/phone/insurance/etc., online or do people require cash payments only?

Thank you in advance for any information you can offer.
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@Chapter2
Hi there… also fellow Canadian. 🇨🇦🇨🇦
What we have been told is yes only ATMS can access your cdn account.
We were also told that it doesn't matter if it's American or Cdn accounts you are accessing, both give money in Belize dollars.
Not sure if you knew that or not… lol
Also, paying bills for back home can still be done on line… if you normally pay them that way.
Also… we bank with TD so they also have a international phone number… if you need to speak to them.
Hope that helps 😊😊
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@Chapter2
Also 🇨🇦 here 😉
We got a letter from our Credit Union in Alberta simply stating our names, how long we had been dealing with the branch. They also put in the letter that we were members/account holders in good standing, and would not hesitate to recommend us. The letter needs to be on the institution's letter head with signature and title.
Our account in Belize is with Atlantic Bank.
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@CocoHer

Hi Coco, I could also do with an example of the accepatable format, please
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Hi for anyone want to have a copy of bank letter, please PM me your email address. Sorry I did not come on the site for a while. The ones PM me the email address, the letter was sent to your email. If you did not receive the letter, please PM me with email address again.

Coco
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@CocoHer
Thanks, appreciate your help
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@TexItalian
Go to the Atlantic bank website, they have the requirements to open an account listed. Print the list and take it to your US bank.

Note: Bank of America would not do this as a matter of policy 6 years ago when I needed it done, but my credit union and Comerica had no problem once I showed them the requuments.
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At Atlantic Bank (around 2007), I was required to have 2 letters from different financial institutions in Canada.
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At Atlantic Bank (around 2007), I was required to have 2 letters from different financial institutions in Canada.
- @tacogirl

Yes, the same here 6 years ago, I needed letters from 2 US banks on their letterhead.

Folks should know, it is the Belize Central Bank, that sets the rules for all banks in Belize.
No mater what Belize bank or credit union one choses, that institution must submit your paperwork to this Central Bank for approval.
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Hello there. This is directed to US expats.

We are in need to open a bank account in Belize, in order to fulfill the requirement for the QRP to deposit the requested money amount.

So, we are looking for a sample of what a "letter of reference" from a US bank looks like, since we have had no luck asking for one at our bank(s) here in the States, as no employee here as any clue as to what it need to say.
Appreciate any help, folks.

-@TexItalian


Below is a story about the 1st positive item I have seen for Expats and banking conditions in Belize. Its a start at least.


"Barbados PM Mia Mottley bats for changes in restrictive banking procedures instituted by the US on Caribbean countries, including Belize


Ву Нugh О'Вrіеn: Іt іѕ nо ѕесrеt thаt thе bаnkіng rеgulаtіоnѕ fоrсеd dоwn thе thrоаtѕ оf Саrіbbеаn соuntrіеѕ, іnсludіng Веlіzе, bу thе Unіtеd Ѕtаtеѕ іn раrtісulаr, hаvе сrеаtеd numеrоuѕ bаrrіеrѕ аnd ѕіgnіfісаnt сhаllеngеѕ fоr bаѕіс аnd rеgulаr bаnkіng trаnѕасtіоnѕ fоr thе аvеrаgе реrѕоn. Јuѕt tо ореn а bаnk ассоunt hаѕ ѕо muсh duе dіlіgеnсе thаt mаnу ѕmаll сlіеntѕ gеt turnеd оff аnd gіvе uр, аnd ѕmаll саѕh trаnѕасtіоnѕ аrе mоrе thаn оftеn оvеrlу ѕсrutіnіzеd."


The rest of this news story is at this link:

https://www.breakingbelizenews.com/2022 … ng-belize/

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