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  1. #11
    Senior Member act1966's Avatar
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    Another thing... we were in our Canadian bank this weekend and our bank rep told us about these new Visa debit cards (different from VISA credit cards) that you can link to your bank account in Aruba, put money on the Visa (limit of $2500) from your domestic (eg. North American) bank account and it goes into the Aruban bank account - it's $5.00 per transaction but you're not limited in the number of transactions you can do in a given time period. This is DEFINITELY easier than wiring!! I know Aruba Bank has the VISA debit cards but haven't checked RBC Aruba yet. I'll come back with what I find out.

  2. #12
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    Quote Originally Posted by act1966 View Post
    We tried opening an account at Aruba Bank but gave up after waiting for two hours after our scheduled appointment... I know, I know... "island time". But I guess there's a limit! LOL The bank person we were trying to meet with didn't even bother to come out and apologize for the delay so that was probably an indicator of future service.

    We ended up making an appointment and going to RBC on our contractor's recommendation. They were prompt, efficient and had the whole process put through quickly for us as we were leaving within seven days (this included the set up of the account, all document reviews, web banking set up and a debit card). We went to the branch in Palm Beach. Make sure you have an appointment and get everything done in that first meeting so they can get all the approvals going.

    I wouldn't say it was "difficult" but it definitely takes longer than walking up to the counter in North America and having everything done within thirty minutes.

    We're also hoping that, one day, there won't be the border barriers between RBC Canada (we're Canadian) and RBC Aruba and moving money will be easy as clicking a mouse.
    I have been an RBC customer for personal and business banking since 1972. I did meet at the Palm Beach Branch on 2 occasions. I spoke with RBC HO here in Toronto about the possibility of RBC Aruba and RBC Canada being able to transfer easier. They advised me that it will probably never happen as the systems are not linked and are completely different due to Govt regulations being different in each country. This is something I was hoping for as well.

    act1966, when did you visit RBC Palm Beach? Was it recently? In the form I got, a condition of opening the account was to guarantee that a deposit of $2500 minimum would be made and held within 30 days of opening an account.

    After 7 years of banking on the island, I must say that the banks have made things more difficult

  3. #13
    Senior Member act1966's Avatar
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    We went and set everything up in February 2014. It was 2500 AFL that needed to reside in the account (I wasn't thrilled about that). I think the difficulties have arisen from the Aruba banks' desire to distance themselves from the past of money-laundering and questionable off-shore practices. Just a guess though. Agree on those systems challenges... I work in financial services in Canada and, unless there's a big push from head office, there won't be any desire to integrate in the short-term.

    I checked out the VISA debit card thing... our bank rep here is misinformed... you can't move money into your chequing account via the debit card (per RBC Canada anyway).

  4. #14
    Senior Member lizzardo's Avatar
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    When we moved to Aruba, we applied to Aruba Bank. They wanted all this paperwork and had an attitude. We went across the street to CMB and got an account immediately and the people there were very friendly. We have a joke if you have to do a transaction in person in a bank: What is the most numbers of stamps have you seen them use! LOL!

  5. #15
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    Hi all. I am a Canadian with RBC in Canada. I will be opening an account in Aruba in 2 weeks. I planned to open with RBC there, but they told me that as a non resident, I must maintain at least 2500 US $ ballance at any given time, or I will be penalized by a 15$ fine. I don't like that. Is it with every bank in Aruba or only RBC? I tried contacting MCB for info, but their website is under some repair and not functioning. :-)) It sounds really odd here in Toronto. How is Aruba Bank? Any advice? Should I get a residence permit? We have just bought a condo in Palm Beach, but not planning to retire yet? Thank you!

  6. #16
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    Quote Originally Posted by Andre View Post
    Hi all. I am a Canadian with RBC in Canada. I will be opening an account in Aruba in 2 weeks. I planned to open with RBC there, but they told me that as a non resident, I must maintain at least 2500 US $ ballance at any given time, or I will be penalized by a 15$ fine. I don't like that. Is it with every bank in Aruba or only RBC? I tried contacting MCB for info, but their website is under some repair and not functioning. :-)) It sounds really odd here in Toronto. How is Aruba Bank? Any advice? Should I get a residence permit? We have just bought a condo in Palm Beach, but not planning to retire yet? Thank you!

    As I mentioned in an earlier post, I am a long term RBC customer here in Canada. I met with RBC in Aruba and was not impressed. A very different operation and yes you are correct about the 2500$ US!! I placed my business with ArubaBank 7 + years ago and it has been fine. Sometimes a bit slow on followup but for normal banking it is OK. Just be prepared for the inevitable Aruban paper shuffle when opening an account. If you can get an introduction through your real estate agent or similar you will find that it will proceed smoother and quicker.

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