banks Opening a bank account

[JohnF13]

Recently, Scotiabank in David closed and left no forwarding address.  As I do most of my business etc in David these days (Sorry, Boquete..) I found myself in need of a full service bank in the City.  Talked to my insurance agent (Gloria D) and she recommended Banco General.  Good for me, as there is a branch in Terronal Mall and many others around town.  So, off Jocie and I go to the bank, hoping for a quick transaction.  Not so fast boyo!  Firts visit the customer service rep. Explained what we needed (all in Spanish, no English there) and sent us off to get the required documents.  First, a letter of referral from Scotiabank and proof of where our funds were coming from.  Easy peasy....got that stuff and returned to the bank.  The new customer service rep. Looked at the paperwork and said it wasn’t enough.  We needed proof of where we lived and a personal reference (used Gloria D).  Off we went again and returned the next day with the new info.  We spoke to the first service rep who took all the info and then told us we needed to provide proof that our funds were being taxed in Canada.  Left again.  Out in the parking lot Jocie remembered she had emails on her phone from our Cdn accountant, along with our SIN numbers.  Back into the bank, met with the rep again and showed her the info.  She recorded the SIN numbers the reached into her desk and brought out the magic stamp.  Stamped all our info and gave us Clave cards, telling us the account would be active next Wednesday.  All in all, a not terribly difficult process “IF” we had been given all the requirements on the first visit.  An adventure and a learning experience!

To sum up, you need:

Passeport/cedula

proof of where your money is coming from.

proof of residence (water bill etc)

reference letter from your bank

proof you pay taxes in your home country

personal reference

Other banks may be easier, our insurance agent recommended Banco General so we went with them.

 

[Whskyman]

Was there any reason given for the closure of Scotia in David?  I wonder if the branch here in Alto Boquete is safe?

[JohnF13]

Didn’t get any explanation why the one in David closed.  Given that, I can’t speculate on the one in Alto.  It seems to be a popular expat bank, let’s hope it has enough business to stay open.

[Keith Woolford]

Pretty sure that Scotiabank still has a branch in David just off the PanAmerican Highway near Super Baru.

'Scotiabank Transformandose', the branch which closed downtown, was a discard which had been gained in the acquisition of Citibank Panama.

My account there became incorporated into the regular Scotiabank system on June 30th.

Edited November 11, 2018 by Keith Woolford

[JohnF13]

That’s the one that closed Keith.  There is still a big Scotiabank down near Box Shop, but it doesn’t seem to have the full service I need

[Keith Woolford]

44 minutes ago, JohnF13 said:

That’s the one that closed Keith.  There is still a big Scotiabank down near Box Shop, but it doesn’t seem to have the full service I need

Ah! Then I've got the closing reversed. Thanks.

The branch which remains open is in a difficult, busy location, although there is lots of parking.

It's a bit odd that services offered there weren't the same as every other SB branch after the merger was completed June 30th.