This site uses cookies. Some are essential while others improve your browsing experience and allow us to advertise. For more info visit the privacy policy page.

Allow inessential cookies for:

Your preferences have been updated.

Page 2 of 3 FirstFirst 123 LastLast
Results 11 to 20 of 24

Thread: Arubabank Increases Non Resident Account Charges to $35 per Month

  1. #11
    Senior Member act1966's Avatar
    Join Date
    Aug 2012
    Location
    In the pool.
    Posts
    3,265
    Post Thanks / Like
    Quote Originally Posted by aquaman View Post
    Yesterday I visited ArubaBank to discuss this. Yes indeed there is an increase. How much seems to depend on the type of account and the demonination...florins/Euros/Dollars. My account is in Florins. The manager double checked the increase for me and advised that the amount will now be 35Afl....not $35US. A local resident pays 5Afl for this same account type. We also have to pay a fee of 1.3% on deposits made by Wire transfer.
    Not good. They're going to lose all the non-resident business. Did they offer you any incentive to stay? Are you at Hato? We ended up walking out of there as the customer service was abysmal.
    0 0
     

  2. #12
    Aruba since 1979
    Moderator
    Andrea J.'s Avatar
    Join Date
    May 2007
    Posts
    39,794
    Post Thanks / Like
    the best oxymoron of the century........"customer service"
    THINK.. is it Thoughtful? Helpful? Inspirational? Necessary? Kind?
    Karma...It is pronounced "HaHaHaHa"
    SIDTM

    0 0
     

  3. #13
    Senior Member
    Join Date
    Feb 2013
    Posts
    195
    Post Thanks / Like
    RBC Aruba charges me $15.00 per month, for a non interest bearing, non resident Dollar Account. In addition I get charged 1% or $10.00 minimum for every deposit made. Then I get charged a small amount for "standing orders" to pay the utilities, condo fees etc. In spite of this, having an account is FAR cheaper than hiring a property manager, to pay the bills.

    I looked into a Florin Account but it's not worth it. They charge 1.3% Tax on all deposits. BTW, All residents/citizens pay 1.3% tax on deposits made into a bank account. In addition if you ever have to wire transfer money to Aruba, the Dollar to Florin exchange rate is VERY bad. They take like 1/3!

    For US Residents, stick with a Dollar Account.
    Last edited by vincep; 05-18-2015 at 01:34 PM.
    [B][url
    0 0
     

  4. #14
    Senior Member garyiryna's Avatar
    Join Date
    Mar 2009
    Posts
    122
    Post Thanks / Like
    Any Banks you recomend ?
    0 0
     

  5. #15
    Senior Member
    Join Date
    May 2011
    Location
    palm beach.downtown
    Posts
    210
    Post Thanks / Like
    best bank is Capital One Master Card.They do not charge foreign fees and you could pay a year worth of bills ahead.
    0 0
     

  6. #16
    Junior Member
    Join Date
    Dec 2013
    Posts
    13
    Post Thanks / Like
    CMB Requirements for account opening for Non-Residents (Note: ArubaBank is just as bad):

    As per regulations of the Central Bank of Aruba, all accounts must be opened in person.
    Requests for opening of accounts received via mail, fax or e-mail will not be accepted.

    The following documents must be presented for applying for an account:
    -Note that documents presented cannot be older than 3 months
    -Personal Current Accounts:
    -Valid passport
    - Two (2) bank reference letters (Why TWO?)
    - Proof of property ownership on Aruba
    - Clearly stated purpose for the account
    - Proof of address (utility bill or government issued document) (for Venezuela residents: RIF)
    -Proof of income/Source of wealth (job letter and pay slips/ business owner: chamber of commerce (not older 3 months) and latest financial statement)
    **No cash deposits allowed on the account, only wire transfers.

    **Applicable costs UNBELIEVABLE ... this could easily reach over $1,000 per year!!!
     Monthly administration charges of Awg.47.50
     Annual Review fee of Awg.250.00
     1.3% Tax is applicable on funds deposited on account(s)

    Business Current Accounts:
    • Valid passport of all the proxy holders, the shareholders and the ultimate
    beneficial owners
    • Excerpt Chamber of Commerce not older than 6 months
    • Articles of Incorporation
    • Register of Shareholders
    • Board resolution, bank mandate, memorandum or certificate in which the
    managing directors have been appointed
    • Power of Attorney to the person in charge of the account, must be signed by the
    managing director of the company
    • Two bank reference letters on the principal/shareholders and beneficiary owner(s)
    • Clearly stated purpose for the account
    • Must have a local operation on Aruba
    All applications are subject to final Management approval for opening of the account.
    0 0
     

  7. #17
    Senior Member
    Join Date
    Mar 2010
    Posts
    316
    Post Thanks / Like
    Quote Originally Posted by yefim8 View Post
    best bank is Capital One Master Card.They do not charge foreign fees and you could pay a year worth of bills ahead.

    Do utility companies in Aruba accept credit card payments? I have no idea...just wondering. Can't pay car registraton at DIMP with a credit card. And can't use a debit card from a USA bank for car registration either.. IMHO, the banks in Aruba 'rule'. lol
    0 0
     

  8. #18
    Senior Member
    Join Date
    Jan 2008
    Location
    Zeerovers, San Nicolaas, Malmok, Arashi
    Posts
    1,305
    Post Thanks / Like
    Quote Originally Posted by annf View Post
    Do utility companies in Aruba accept credit card payments? I have no idea...just wondering. Can't pay car registraton at DIMP with a credit card. And can't use a debit card from a USA bank for car registration either.. IMHO, the banks in Aruba 'rule'. lol
    The short answer is 'NO' I spoke with the manager of finance at WEB and he stated they will probably never accept cc. Reason was the bank processing fee he claimed.

    Also, a Aruba debit card is now required to pay vehicle registration/tax and to pay taxes unless you are a senior. Cash is no longer accepted. Just went through this in February this year.

  9. #19
    Senior Member robin's Avatar
    Join Date
    Nov 2016
    Location
    Eagle Beach, Oceania, north side
    Posts
    4,862
    Post Thanks / Like
    Quote Originally Posted by aquaman View Post
    The short answer is 'NO' I spoke with the manager of finance at WEB and he stated they will probably never accept cc. Reason was the bank processing fee he claimed.

    Also, a Aruba debit card is now required to pay vehicle registration/tax and to pay taxes unless you are a senior. Cash is no longer accepted. Just went through this in February this year.
    We had to fight with them to pay for our car registration in January in cash. They finally relented because I'll be 60 this year. It is the only expense we have to pay ourselves since our property manager pays our taxes for us and all our utilities are billed in the same statement as our condo fees.






    0 0
     

  10. #20
    Senior Member schexc's Avatar
    Join Date
    Jun 2011
    Location
    The Pearl at Eagle Beach
    Posts
    2,472
    Post Thanks / Like
    So far, we have been able to have all of our bills paid by our management company, including utilities, taxes (the amount still under appeal for the last three years), insurance, car insurance and registration. Hopefully, that day doesn't come to an end.







    OUR COUPLE'S RETREAT. THE PEARL CONDO HOTEL EAGLE BEACH. CONDO ACCOMMODATES TWO ADULTS. YOU MUST REQUEST UNIT #8. https://photos.app.goo.gl/lRquP1F4VtxyZhR42 RENTING DIRECTLY http://www.pearlarubacondos.com/. SEND PM BEFORE BOOKING FOR REFERRAL.
    0 0
     

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •