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eehliii
10-15-2021, 12:22 PM
Hi there!

We just recently closed on a house in Aruba! :D We are based in the US and want to open a bank account there. We contacted Aruba bank and they require deposit of $60,000 USD and to maintain it... do all banks in Aruba require that big of a deposit?

We are also looking for any banker recommendations!

Thanks in advance :D

Andrea J.
10-15-2021, 02:26 PM
welcome to the aruba.com community forum.

I know that many property owners in Aruba are very unhappy with the bank fees.

good luck!!


Hi there!

We just recently closed on a house in Aruba! :D We are based in the US and want to open a bank account there. We contacted Aruba bank and they require deposit of $60,000 USD and to maintain it... do all banks in Aruba require that big of a deposit?

We are also looking for any banker recommendations!

Thanks in advance :D

WaltVB
10-15-2021, 03:20 PM
Welcome to the forum and congrats on your purchase. Here's something on the subject: Arubabank Increases Non Resident Account Charges to $35 per Month (https://www.aruba.com/forum/f34/arubabank-increases-non-resident-account-charges-35-per-month-63133/)

cpjones
10-15-2021, 04:14 PM
Welcome to the forum.... and congratulations on your purchase!

act1966
10-15-2021, 11:19 PM
do all banks in Aruba require that big of a deposit?


No. Check with CIBC, RBC and CMB.

Tim nel
10-16-2021, 01:19 PM
We have had a bank account since 2005. Started with RBTT which I believe is RBC now, then we switched to Aruba Bank where we had a mortgage. We did have to maintain a least a 5000 balance, when the mortgage was paid that went away. They all have monthly fee's. I was always amazed how they charge for a deposit but don't charge for a withdrawal when you go into the bank, you would think if anything that it would be the other way around....that's Aruba for ya!!

act1966
10-16-2021, 02:41 PM
The Aruba banking system needs serious financial reform - particularly to entice investment in the island. They'll never get out from under the thumb of the Netherlands otherwise. The central bank is making it an absolute nightmare to bring money into the country... yes, yes, yes..."money laundering"... but they're targeting the wrong sectors. It's no wonder a lot of Arubans keep off-shore accounts in the US.

robin
10-16-2021, 06:26 PM
Congrats on your new home!

Tuckahoe
10-18-2021, 12:23 AM
Congratulations on your new home! Best wishes for making many happy memories there!



Hi there!

We just recently closed on a house in Aruba! :D We are based in the US and want to open a bank account there. We contacted Aruba bank and they require deposit of $60,000 USD and to maintain it... do all banks in Aruba require that big of a deposit?

We are also looking for any banker recommendations!

Thanks in advance :D

act1966
10-19-2021, 06:14 AM
Just FYI for everybody: CIBC First Caribbean is being bought by Aruba Bank.

tnaruba
10-23-2021, 03:07 PM
I opened an RBC non-resident account a few months ago and it was not too bad a process. They provide a list of documents required. Minimums were around $3000 not $60K like Aruba Bank as you said. I was floored bc I looked into Aruba Bank first bc noticed they had most ATMs so figured best option but nope.