banks in Caribbean

This topic was created by dan hayes (pbr0@mailexcite.com)
[Tue 16 March, 12:08 Tasmanian Standard Time]

Has anyone had experience in starting savings accounts in
bahamas or other caribbean say more than $10,000 us? If so
which banks can you trust and which can you not? Anyone ever
been ripped off by a foreign bank? What happened?

[There are 6 posts - the latest was added on Mon 19 April, 9:01]

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  1. No prior experience. Added by: Diago
    [Timestamp: Wed 17 March, 1:17 Tasmanian Standard Time]

    I've never actually opened accounts in the Caribbean, but
    check www.escapeartist.com. They have a number of resources
    for people looking to "hide" their money abroad.



  2. A lot of Intl Banks in Caribbean Added by: brent
    [Timestamp: Wed 17 March, 1:18 Tasmanian Standard Time]

    Many of the world's largest banks are in the Caribbean and
    are totally safe. They are there mainly to take advantage
    of the lenient bank secrecy laws, though many of them
    served as money laundering centers in the 80s. Barclays
    Bank has a large branch in Nassau and in many other islands
    and many Canadian banks (like CIBC)are also throughout the
    Caribbean. It is totally safe.



  3. Canadian Banks... Added by: brad
    [Timestamp: Wed 17 March, 2:10 Tasmanian Standard Time]

    ...seem to dominate in the CAribbean. I met some Canadians in Jamaica who had accounts with both Scotiabank and CIBC. Would you believe it if I told you their Canadian ATM (cash machine) cards were refused in the Scotiabank and CIBC branches in Jamaica!



  4. Watch out... Added by: Chad
    [Timestamp: Wed 17 March, 13:50 Tasmanian Standard Time]

    Whenever you go, be careful! I know several people here in
    Miami and I heard about others up in northern U.S. and
    in England, who have been ripped off by a Canadian based
    Jamaican by the name RUDY (I am not going to say his last
    name). He has investment office and looks very professional.
    He works with people who want to open accounts in banks in
    Jamaica and Caimans. Flies with you there, helps to open an
    account and a year later, when people start trusting and
    puting in more money, on day the money is gone.. He had an
    office in Toronto (I think also near Otawa and Kingston).
    Very slick, highly educated crook, impressive credentials.



  5. Carib Banking Added by: traveler
    [Timestamp: Sat 3 April, 6:57 Tasmanian Standard Time]

    If you need to know how to do banking in the Carribbean, a
    good place to start is by reading a book by Edmund J. Pankau
    titled "Hide Your Assets & Disappear", Published by
    Harper/Collins. It is available on amazon.com for $19.95
    which includes shipping. I also imagine it is available in
    book stores. It is an excellent primer on doing off shore
    banking and certainly a must read. It will also link you up
    to other reliable sources of information via internet URLs.
    Good Luck.



  6. Grand Cayman Added by: Cayman Steve (caymanbanking@yahoo.com)
    [Timestamp: Mon 19 April, 9:01 Tasmanian Standard Time]

    You are wise to be cautious. The fact is, there are over
    600 banks in the Cayman Islands with most being little
    bigger than a room with a computer and filing cabinet.
    Stick with the big ones: Barclays, CIBC, Scotiabank, Royal
    Bank of Canada, Bank of Butterfield... there are no laws in
    the Cayman Islands about bringing Cash in. NO LIMITS.
    However, you must get a letter of reference to open an
    account at any bank here. Also, the US and Canada have
    strict laws in regard to exporting monetary instruments of
    over USD / CAD $10,000.00 and I always see FedEx packages
    here that were opened by US customs on their way out of the
    continent. Email me if you want more info, Tax sheltering
    is quickly becoming a hobby of mine.




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