opening a bank acount

Submitted by edward1 on 16 September, 2006 - 09:18.

Am leaving for Nicaragua within three weeks, to find out precisely where I would prefer to live, and to apply for pensionado status. My understanding is that one cannot open a bank account at BanPro without residency or citizenship papers. Does anyone know if there are any banking institutions that WILL open an US dollar account for a foreigner who is not legally a resident?

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Maybe

Submitted by fyl on 16 September, 2006 - 09:28.

This is a common question with a different answer depending on the phase of the moon. Yes, BDF is happy to do it these days. Banco ProCredit is as well. They both require two reference letters but they can be from you neighbors.

If you want to transfer $, BDF will cost you less. On the other end, ProCredit is European-owned and they have been setting up banks all over Latin America. But, no, they don't have Euro accounts which seems strange.

BDF?

Submitted by Miskito Alan on 16 September, 2006 - 09:48.

Everybody comments above and below that BDF will open an account without a residency cedula or a Nica cedula.

Funny, the BDF website states that a cedula and two letters of reference are required to open any type of account at that bank.

A passport is not a "cedula".

"NL" members need to correct this oversight on the official website of BDF.

http://www.bdfnet.com/granada.htm

Miskito Alan &#174

It says they have Euro accounts too

Submitted by fyl on 16 September, 2006 - 11:48.

Or, at least did but they didn't have them, BanPro claims they have them if you go to Managua to open them. BancoUno does but they won't talk to you without a cedula. ...

BDF 3 years ago said you much have a cedula. But ... In the last year I know three people without cedulas that were told all they needed was a passport and two letters of reference.

As for what those letters needs to be, I don't think it matters as long as they are either in Spanish or you luck into a BDF where someone can read the letters in whatever language they happen to be in. Letters of reference and such seem to be a matter of checking off an item on a checklist. Sorta like when someone says "what's the number of your ID" and you rattle off anything that comes to mind.

BDF experience

Submitted by no longer registered on 16 September, 2006 - 12:28.

Sometime in the past year I went to BDF in MGA to discuss opening an account. I was accompanied by a Nica who is a BDF patron with at least three accounts with respectable 5-figure USD balances. Was told to come back when I had a cedula.

For research purposes, I'll go this week to the Granada branch of BDF as well as Banco ProCredit and see what happens...

BancoProCredit

Submitted by edward1 on 20 September, 2006 - 14:59.

did you get a chance to check out wether this bank requires a credula, or whether a passport will do to open an account?

credula info (sic)

Submitted by no longer registered on 21 September, 2006 - 13:22.

In Granada, there is NO bank that will open an account without a cedula. YMMV (contact Bobby via PM -- he gets "things" done here)...

bank account for non-residents

Submitted by dirtbag on 16 September, 2006 - 09:42.

Does that mean that you can use Visa to draw money? Once you have set up an account. Alternatively, will they accept a Bank Card from your overseas account?

Withdrawing Money

Submitted by Miskito Alan on 16 September, 2006 - 09:52.

Most banks issue their own debit cards and one can withdraw money with the bank or the ATM at no charge.

Most banks allow the the use of foreign credit cards to withdraw money after you give them "one arm & one leg".

Miskito Alan &#174

withdrawing money

Submitted by dirtbag on 16 September, 2006 - 12:24.

Thanks, now all I need is some Money!

Check out

Submitted by catahoula_fan on 16 September, 2006 - 09:26.

Banco Uno. Their website is at www.bancouno.com.ni

When we opened ours we had our residency, but the manager (Hyper La Colonia location) clearly told us in English that only a passport and two letters of reference were needed to get the account open.

We bank with Banco Uno, BAC and Banco ProCredit. We receive the best service and interest from Banco Uno.

the BDF

Submitted by GranadaSherif on 16 September, 2006 - 09:23.

You need 2 letters of reference and your passport and 10 US dollars.

Thanks GranadaSherif.

Submitted by edward1 on 16 September, 2006 - 09:39.

Thanks GranadaSherif. Nicaraguan, or will Canadian letters of reference suffice?

They have to be from

Submitted by GranadaSherif on 16 September, 2006 - 18:51.

people whi have cedula. Anyone can arrange them.. If you need help let me know.

since I am leaving for Nica

Submitted by edward1 on 20 September, 2006 - 15:02.

since I am leaving for Nica next week, and will putter along for two or three weeks on my trip before arriving there,, would be intersted in knowing how these 'arrangements' can be made.

That's easy

Submitted by fyl on 20 September, 2006 - 15:13.

Go somewhere where there are two Nicaraguans with cedulas--depends on the kind of places you like to hang out--buy them a beer, a movie ticket, a dinner, whatever and ask them to write the letters. Better yet, write a template and have them just hand-write their version with their name and cedula number.

Likely candidates:

  • Waitperson in a restaurant who would like a bigger tip
  • The guys at the next table in a sports bar who want a bottle of rum
  • The drunks on the street
  • Hotel owner, clerk, maid, ...
  • A lawyer, accountant, or anyone else with a service business who sees a potential future client

Bottom line, be creative. When I needed two I asked a friend. She wrote two letters--one for her and one for a friend of hers and she got them both signed. Oh, and she got a dinner.

getting someone to write letters

Submitted by edward1 on 21 September, 2006 - 15:30.

there's something I'm missing. So I find two lovely Seniorita's struggling to make a living in a restaurant. I give them a mucho big tip. They each write a letter, sign them and provide their cedula number. The question - excuse my dense skull - how does their cedula get me to open an account in my name if I don't have a cedula?

Stop by my house in Managua

Submitted by Huehuete Bob on 21 September, 2006 - 14:24.

I can get a couple of recommendations for you.

thanks for the offer.

Submitted by edward1 on 21 September, 2006 - 15:31.

will be in touch with you once am on my way. Gracious.

bank account cedulas

Submitted by dirtbag on 21 September, 2006 - 12:34.

I hate to beat this to death. All the information submitted on this topic as been really helpful. Can you help finalise (In my head anyway) what would be the gist of a template? is it to whom it may concern...etc..upstanding character..etc.

ditto

Submitted by edward1 on 21 September, 2006 - 15:34.

Sounds like a reference letter.

BanPro

Submitted by no longer registered on 21 September, 2006 - 13:18.

They print the form for you -- fill in the blanks.

I'm dense, obviously

Submitted by edward1 on 21 September, 2006 - 15:38.

if the banks require two (or more) reference letters, PLUS a cedula by the person wanting to open the account, how does two reference letters going to satisfy every letter of the law? I am assuming a cedula is a legal document given residents of Nica Land.

Here are a couple examples that should do

Submitted by fyl on 21 September, 2006 - 13:14.

Hace tres años Harry Chest es mi amigo. El es buen gente y solo toco el seno de mi esposa cuando estoy afuera del país.

Atentamente,

Fred Farkle, Cedula 666-6-6666

Tel. 713-5555


Now, if you use that I will be anxious to see what the response would be. But, the goal is as follows:

  • Establish that the guy knows you and, if it is a good thing, how long.
  • If it is a business relationship (accountant, lawyer, ...) that should be stated.
  • It should say that you are of good character or some such BS
  • Identify who is writing it including their legal name, cedula number, address and phone number.

fyl, WTF?

Submitted by cmoore56 on 21 September, 2006 - 17:44.

First of all, you obviously don't speak Spanish; second: he only touches my wife's breast when I'm out of the country? What the hell's THAT supposed to mean? Sheesh...if you're going to give examples, at least make them meaningful.

What a country!

Submitted by Former NL Member on 21 September, 2006 - 14:00.

So I have to mess with my friend's wife to get a bank account? Wow.

What a country!

Submitted by AdamAnt on 21 September, 2006 - 15:51.

Sounds like a good way to meet women.

"Hi, I'll buy you dinner and ALOT of drinks if you write a nice letter for me".