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Thread: Non Resident Bank Account

  1. #11
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    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.
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  2. #12
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    Hi and congrats on closing on your new house. We also bought a condo in Aruba and are closing in January. Also having problem with the $60,000 deposit
    to maintain. Did you find any other bank that does not require that much deposit. I heard somewhere that if you are over 65 you can pay using debit card?
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  3. #13
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    Good Morning, We are also closing on condo in January. We are also non-residents from New Jersey. Aruba bank was just too much with the deposit. Would be interested in RBC. Not sure where it is located. Do you have contact information and/or address? Would greatly appreciate the info.
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  4. #14
    Senior Member act1966's Avatar
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    Quote Originally Posted by SuzanneT View Post
    Good Morning, We are also closing on condo in January. We are also non-residents from New Jersey. Aruba bank was just too much with the deposit. Would be interested in RBC. Not sure where it is located. Do you have contact information and/or address? Would greatly appreciate the info.
    The main RBC branch is near Lings on Italastraat. We gave up trying to open there as nobody would respond to emails or phone calls. We ended up going with CMB.
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  5. #15
    Super Moderator WaltVB's Avatar
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    Welcome to the forum SuzanneT and congrats on your purchase. Hope the banking goes smoothly for you.
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  6. #16
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    welcome to the aruba.com community forum

    let us know how the whole condo purchase goes please!!
    Quote Originally Posted by SuzanneT View Post
    Good Morning, We are also closing on condo in January. We are also non-residents from New Jersey. Aruba bank was just too much with the deposit. Would be interested in RBC. Not sure where it is located. Do you have contact information and/or address? Would greatly appreciate the info.

    THINK.. is it Thoughtful? Helpful? Inspirational? Necessary? Kind? SIDTM
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  7. #17
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    Just got back from Aruba. The $60,000 is a new governmental policy that is required for "non belongers" (my word) to be able to get a mortgage on the island. Previous policy by the banks was 3 months of mortgage amount held in the bank, at least through Aruba Bank. Was told that the new government rule is being represented as an "investment in the island". I believe that all banks are required to collect this $60 grand on top of the normal fees associated with the purchase of your home if you finance with a bank in Aruba. The good news is that the money is still yours and is held in your account. The bad news it is your money held in a bank account until your mortgage is paid in full. Pretty much limits who can purchase a home on the island. FYI Aruba Bank monthly fee for a "non belonger" or "US dollar account" is $37.10 a month. I looked for this in writing and was not able to find this policy anywhere, but this is what the people selling the homes have been told.
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  8. #18
    Senior Member Aruba4ever's Avatar
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    The added 60k will certainly affect who is able to purchase in Aruba. The "free loan" of the 60k to the government is a bit over the top IMO but if you want to own in Aruba it is what it is I guess.

    Quote Originally Posted by hineskl View Post
    Just got back from Aruba. The $60,000 is a new governmental policy that is required for "non belongers" (my word) to be able to get a mortgage on the island. Previous policy by the banks was 3 months of mortgage amount held in the bank, at least through Aruba Bank. Was told that the new government rule is being represented as an "investment in the island". I believe that all banks are required to collect this $60 grand on top of the normal fees associated with the purchase of your home if you finance with a bank in Aruba. The good news is that the money is still yours and is held in your account. The bad news it is your money held in a bank account until your mortgage is paid in full. Pretty much limits who can purchase a home on the island. FYI Aruba Bank monthly fee for a "non belonger" or "US dollar account" is $37.10 a month. I looked for this in writing and was not able to find this policy anywhere, but this is what the people selling the homes have been told.
    Just Booked trip 36- Trip report starting in June.







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  9. #19
    Senior Member schexc's Avatar
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    Quote Originally Posted by hineskl View Post
    Just got back from Aruba. The $60,000 is a new governmental policy that is required for "non belongers" (my word) to be able to get a mortgage on the island. Previous policy by the banks was 3 months of mortgage amount held in the bank, at least through Aruba Bank. Was told that the new government rule is being represented as an "investment in the island". I believe that all banks are required to collect this $60 grand on top of the normal fees associated with the purchase of your home if you finance with a bank in Aruba. The good news is that the money is still yours and is held in your account. The bad news it is your money held in a bank account until your mortgage is paid in full. Pretty much limits who can purchase a home on the island. FYI Aruba Bank monthly fee for a "non belonger" or "US dollar account" is $37.10 a month. I looked for this in writing and was not able to find this policy anywhere, but this is what the people selling the homes have been told.
    So this is only for tourists that have a mortgage?






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  10. #20
    Senior Member Aruba4ever's Avatar
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    Sounds like it- another reason not to finance on the island I guess.

    Quote Originally Posted by schexc View Post
    So this is only for tourists that have a mortgage?
    Just Booked trip 36- Trip report starting in June.







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