Bank letter of reference

TexItalian Active member

Member since 27 December 2015

TexItalianActive member07 June 2022 02:20:03

Hello there. This is directed to US expats.

We are in need to open a bank account in Belize, in order to fulfill the requirement for the QRP to deposit the requested money amount.

So, we are looking for a sample of what a "letter of reference" from a US bank looks like, since we have had no luck asking for one at our bank(s) here in the States, as no employee here as any clue as to what it need to say.

Appreciate any help, folks.

Aerodex Serial expat

Member since 30 September 2015

AerodexSerial expat07 June 2022 03:45:28

257

Hello there. This is directed to US expats.

We are in need to open a bank account in Belize, in order to fulfill the requirement for the QRP to deposit the requested money amount.

So, we are looking for a sample of what a "letter of reference" from a US bank looks like, since we have had no luck asking for one at our bank(s) here in the States, as no employee here as any clue as to what it need to say.

Appreciate any help, folks.
- @TexItalian

When I had to do the same thing about 5 years ago, I went to the Atlantic Bank website, and they had a list of things that needed to be included and time lines valid for the information for opening an account.

I don't know how many Banks are currently operating in Belize, but look at the websites of all you can find.

At that time, Bank of America did not allow their bank managers to issue a "letter of reference" .

My Credit union and Comerica bank managers had no problem in issuing me one once I showed them the Atlantic website requirements.

Also call the Belize Truism Board at their 800- number if their website does not have the info, they are the ones running the QRP program.

CocoHer Active member

Member since 03 February 2020

CocoHerActive member10 June 2022 13:27:27

@TexItalian

Hi, I have the bank letter. Please PM me your email address so I can email it to you.

Coco

TexItalian Active member

Member since 27 December 2015

TexItalianActive member10 June 2022 14:12:22

PM sent

OldSailor Member

Member since 21 June 2022

OldSailorMember05 July 2022 23:44:00

I am planning on applying for QRP in Belize too. I am just beginning to get started and will need to open a bank account in Belize.

If anyone has recommendations as to which bank(s) are best to open an account with in Belize I would appreciate the information.

Also, I see from one of the posts above that Bank of America in the US was not cooperative with respect to providing the necessary bank reference letter. My bank of many years is Bank of America. Has anyone had any luck getting the reference letter needed from BoA?

OldSailor Member

Member since 21 June 2022

OldSailorMember05 July 2022 23:45:49

@CocoHer 鈥� if you don鈥檛 mind, may I PM you to get a copy of tje letter you mentioned?

brentkotchorek New member

Member since 07 June 2022

brentkotchorekNew member06 July 2022 00:36:55

Me to I would like to know of a Solid bank that I should use in Belize

brentkotchorek New member

Member since 07 June 2022

brentkotchorekNew member06 July 2022 00:41:44

@CocoHer hello I will be moving to Belize sooner than later possibly October maybe sooner. But I guess I would probably need a letter from my credit union in Canada the same as you would use in the US. Could you send me a copy of your letter. So I can take it into the bank and show them what I need. Also I am coming down to open a bank account and I would like to know the name of a reputable bank that I could deposit money into or transfer into. Much appreciated my name is Brent.

marciarandle Member

Member since 15 October 2021

marciarandleMember06 July 2022 02:26:28

@OldSailor Can you send me the sample bank letter too? Thanks so much!

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sherriparkwaiting Member

Member since 14 December 2021

sherriparkwaitingMember06 July 2022 15:00:29

#10

American dollar聽 bank accounts are available, but why bother if you are living in Belize?聽 We have all our money where we live and only bring enough for a years expenses at a time..I will not recommend a bank even though we are very happy with ours.聽 Some of the expats also have a bank account in Mexico since we are so close to the border.聽 We live in Belize and do not travel that much into Mexico, so we only make deposits to our Belize bank to cover utilities and all bills we incur which is conveniently done online.聽 Everyones needs are different, so go to the Belize banks, choose one and put the letter you write in writing to your bank for what is required by the Belize bank you choose.

Chapter2 Member

Member since 20 June 2022

Chapter2Member09 July 2022 19:42:58

#11

@CocoHer Hello there.聽 I am also planning on moving down to Belize within the next several months and applying for residency.聽 If possible would like a copy of the letter you've gotten to show as an example to my bank in Canada.聽 I am also looking for a reputable bank to use while in Belize.聽 Do you know if I can open a bank account there while waiting for my residency?聽 I understand that my Canadian bank accounts cannot be accessed in Belize except through ATM withdrawals - do you know if that is correct?聽 Can I pay bills/rent/phone/insurance/etc., online or do people require cash payments only?

Thank you in advance for any information you can offer.

terrysnewglc Active member

Member since 09 April 2021

terrysnewglcActive member09 July 2022 20:17:04

#12

@Chapter2

Hi there鈥� also fellow Canadian. 馃嚚馃嚘馃嚚馃嚘

What we have been told is yes only ATMS can access your cdn account.

We were also told that it doesn鈥檛 matter if it鈥檚 American or Cdn accounts you are accessing, both give money in Belize dollars.

Not sure if you knew that or not鈥� lol

Also, paying bills for back home can still be done on line鈥� if you normally pay them that way.

Also鈥� we bank with TD so they also have a international phone number鈥� if you need to speak to them.

Hope that helps 馃槉馃槉

Brigitte B Serial expat

Member since 04 February 2013

Brigitte BSerial expat09 July 2022 20:38:31

#13

331

@Chapter2

Also 馃嚚馃嚘 here 馃槈

We got a letter from our Credit Union in Alberta simply stating our names, how long we had been dealing with the branch. They also put in the letter that we were members/account holders in good standing, and would not hesitate to recommend us. The letter needs to be on the institution鈥檚 letter head with signature and title.

Our account in Belize is with Atlantic Bank.

garysshaw Member

Member since 02 November 2019

garysshawMember23 July 2022 06:35:53

#14

@CocoHer

Hi Coco, I could also do with an example of the accepatable format, please

CocoHer Active member

Member since 03 February 2020

CocoHerActive member08 August 2022 18:51:38

#15

Hi for anyone want to have a copy of bank letter, please PM me your email address. Sorry I did not come on the site for a while. The ones PM me the email address, the letter was sent to your email. If you did not receive the letter, please PM me with email address again.

Coco

garysshaw Member

Member since 02 November 2019

garysshawMember08 August 2022 19:18:05

#16

@CocoHer

Thanks, appreciate your help

Aerodex Serial expat

Member since 30 September 2015

AerodexSerial expat22 August 2022 12:15:18

#17

257

@TexItalian

Go to the Atlantic bank website, they have the requirements to open an account listed. Print the list and take it to your US bank.

Note: Bank of America would not do this as a matter of policy 6 years ago when I needed it done, but my credit union and Comerica had no problem once I showed them the requuments.

tacogirl Contributor

Member since 27 August 2008

dream in color

tacogirlContributor23 August 2022 22:45:24

#18

116

At Atlantic Bank (around 2007), I was required to have 2 letters from different financial institutions in Canada.

Aerodex Serial expat

Member since 30 September 2015

AerodexSerial expat24 August 2022 01:44:03

#19

257

At Atlantic Bank (around 2007), I was required to have 2 letters from different financial institutions in Canada.
- @tacogirl

Yes, the same here 6 years ago, I needed letters from 2 US banks on their letterhead.

Folks should know, it is the Belize Central Bank, that sets the rules for all banks in Belize.

No mater what Belize bank or credit union one choses, that institution must submit your paperwork to this Central Bank for approval.

Aerodex Serial expat

Member since 30 September 2015

AerodexSerial expat18 September 2022 19:09:09

#20

257

Hello there. This is directed to US expats.

We are in need to open a bank account in Belize, in order to fulfill the requirement for the QRP to deposit the requested money amount.

So, we are looking for a sample of what a "letter of reference" from a US bank looks like, since we have had no luck asking for one at our bank(s) here in the States, as no employee here as any clue as to what it need to say.
Appreciate any help, folks.

-@TexItalian

Below is a story about the 1st positive item I have seen for 草榴社区s and banking conditions in Belize. Its a start at least.

"Barbados PM Mia Mottley bats for changes in restrictive banking procedures instituted by the US on Caribbean countries, including Belize

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The rest of this news story is at this link: