Bank Accounts in Belize

@travelbeat usually they request letters from a current financial institution in your home country as well. You can generally see the requirements to open an account on their websites. A couple of other examples below:

Atlantic Bank:

https://www.atlabank.com/faq.php

Atlantic Bank asks for 2 banker's references with a minimum of 18 month banking relationship. Most folks are fine with a savings account to start. You can use the debit card that comes with the savings account to make online utility payments instead of paying by check. They are set up for online payments to Belize Electricity Limited, Belize Telemedia Limited, Belize Water Services, Central Cable Vision, Channel Broadcasting Cable, Coral Cable Vision, and Netking Communications. Go to atlabank.com and roll over "Bill Pay with any Visa or MasterCard Credit Card" and select the service you would like. Then enter your customer number and the account number located on your utility bill.

Heritage Bank:

https://www.heritageibt.com/wp-content/ … mestic.pdf

Heritage Bank requires recent references (issued not more than three months), prepared on the entity's official stationery and should indicate the following: a period of relationship for at least (2) years; Customer address in bank records; annual average balance or turnover of account balance; type of relationship conducted; status of relationship.

@belizelandoffices relationships referring to my home (Canada) banks?

Just so you know, it is going to take a lot of back and forth before a bank will open an account for a non-Belizean. It can be done. Atlantic said they wouldn't even let me apply for an account until my work permit was completed. After I had it and applied it was another month as they reviewed my records for compliance. At this point they have more records about me than I do - lands document, lease agreement, employment letter, contract for employment, SSB card, Tax ID, 2 bank letters, my main retirement account, BEL bill, etc. Basically a whole ream of paper.

My wife's experience was very similar. Each time you go, there will be some new hurdle or document to bring the next time. Polite persistence pays off.

    @belizelandoffices relationships referring to my home (Canada) banks?
   

    -@travelbeat

Canadian banks or Credit Unions will do a reference letter.

@travelbeat Good luck because I am here and have been trying to open an account for 2 years.  They forgot to tell you that you ALSO have to go to the Central Bank to be authorized to open an account and CB is not accessible to anyone unless you work there or have an IN. I just spoke with BTB and they are trying to help me.  I will let you know if I find out something that might help you.

@travelbeat yes, they want a letter of reference from you bank or financial institution (credit union, etc) in Canada. If you haven't been with a bank that long or don't have two banks where they want multiple references, still provide what you can - it's mostly about verifying that you are not a financial risk to the bank and (in theory) to help reduce money laundering activity.

@Pamelaannkatz27 where are you trying to open a bank account? Are you trying to wire a large sum from a foreign bank? If so, that will often require Central Bank approval. If you bring all of the paperwork  they list online and a modest sum in cash to open an account, we have not had the experience you're describing. 

Yes, the list provided by the bank you're applying at, should be all you need.

It is that bank that will seek any approvals necessary from Central Bank.

It used to be much simpler. We walked into Atlantic Bank in the morning and our account was active next day. 

@belizelandoffices  i'm sorry I think you misunderstood me. I've tried to open a business account for over a year and when I went back to The Belize Bank, they lost my application only months after I opened. Then they told me I needed to go to Central bank for approval, but central bank told me to go online and fill out a form that didn't exist. I am not transferring or wiring funds from America. I had the funds on me 15,000 to be exact of course that didn't happen because there are so many glitches and they lost my paperwork so now I'm waiting for them to get it together and found the application luckily that I saved to my computer and sent that to them to prove that yes I actually did all of the application at Belize Bank three months  prior to my visit.

@DnBR  and that is correct! With each visit more hurdles, and I have given my blood and couple of reams of paper too!

@Brigitte B "used to be" is an understatement! I'm glad that you got it all taken care of, but that had to be a long time ago because that's not the case now.

@belizelandoffices it was a request to open a bank account while I was in San Pedro. The main hindering was that I didn't own the property in Belize yet since I agreed with the seller to pay it in monthly transactions.

@Pamelaannkatz27 you are correct, I did not realize you were referring to a business account. Opening a business account is different than a personal account and requires MUCH more registration and hurdles.

From my understanding the original post is regarding a personal account, which is much simpler, and should not face the same issues that you are describing. Best of luck getting all of your business registrations, licensing, and accounts set up - it definitely takes perserverance.

@travelbeat that's frustrating. Many banks will accept the purchase and sale agreement (with land contract terms spelled out, if applicable), but some want to see that the transaction has been recorded with the Lands Dept. Hope you get it worked out quickly.

@belizelandoffices No, I didn't apply as a business, just a personal checking account. The only issue that didn't help was that I not having the full title of the property yet.

@belizelandoffices thanks for your support. I'll be back in November for a few months (hoping) and figure out how to bypass that land title issue.