Banks

There are two large banks in Puerto Rico, Banco Popular and Citibank, and a number of other banks and "Cooperativas de Ahorros" (Credit Unions or Savings and Loans). Both large banks have branches in Arecibo. Hopefully this page will be filled in by people who know about each of them.

General features

Make sure they get your name right. Now is the time to figure this out, not later. When they ask for your mother's maiden name, it's likely to appear on your checks; it's not for security. Apparently, the "First M. Last" convention is a good one to use, rather than spelling out a middle name. Both of the banks accept direct deposit, not all Cooperativas do. They will want to know your mailing address and where you live. I gave the Observatory for both. But I had to give them the "street address" for the second.

We're far from the US in some ways. My bank put a 8-day hold on traveller's checks! They claimed they would honor a cashier's check though (backwards of the way it usually is). According to their literature, they shouldn't have put a hold a traveller's check's either, but it's hard to argue with the bank about that, at least until you've read their brochures.



Mike Nolan

Last modified: Wed May 19 15:18:18 AST 2004

Valid HTML 4.01!