Best Banks and Why?

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mtwilson
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Best Banks and Why?

Postby mtwilson » Wed Aug 01, 2012 8:18 am

OK, after three years in Saudi Arabia, my wife and I are finally heading back home to Peru. Since last there the economy has changed, the world has changed and I suspect Peru has changed a bit too. For this reason I wanted to ask the group in general what banking institution is generally considered the best with regards to honesty (yeah, yeah, I know ;)), security and service.

Considering the widespread corruption in western banking and too-big-to-fail circles, are there any local community banks that may not be all that well known that would be somewhat more sheltered from a large international banking scandal but that still offer things like visa/MC debit cards that can be used for int'l purchases?

We are locals so we can bank anywhere. Curios to hear feedback from the group.


Mike
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fanning
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Re: Best Banks and Why?

Postby fanning » Wed Aug 01, 2012 11:14 pm

The biggest bank in Peru is Banco de Credito de Peru, and I can recommend it.
Their website is http://www.viabcp.com You can get any Visa debit/credit card. Try to get in the Banco Exclusiva program, as you get better service..
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Re: Best Banks and Why?

Postby chi chi » Thu Aug 02, 2012 11:17 am

I've using INTERBANK for more than 3 years and I am happy with their service.

Be carefull with some banks because your deposits are not protected by the government so if the bank goes bust you lose your money.

Banco Azteco is one of them. They offer high interest rates for savers but your deposits are not protected.
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Re: Best Banks and Why?

Postby gerard » Thu Aug 02, 2012 11:51 am

Actually Azteca are in the Fondo de Seguro de Depósitos. There is a list here http://www.fsd.org.pe/paginas/02-miembros/02-01-bancos.html
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Re: Best Banks and Why?

Postby FHCZ » Thu Aug 02, 2012 10:50 pm

gerard wrote:Actually Azteca are in the Fondo de Seguro de Depósitos. There is a list here http://www.fsd.org.pe/paginas/02-miembros/02-01-bancos.html


Hey, my antivirus blocked this link because it was infected, so be careful don't click on it!
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Re: Best Banks and Why?

Postby fanning » Thu Aug 02, 2012 10:52 pm

FHCZ wrote:Hey, my antivirus blocked this link because it was infected, so be careful don't click on it!

Mine didn't .. Maybe it is time to format my harddrive ..
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Re: Best Banks and Why?

Postby falconagain » Thu Aug 02, 2012 11:00 pm

Between 2007 to 2010 I used Interbank without any problem. Some people
have mentioned that the Peruvian Banco de la Nacion has improved too.
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Re: Best Banks and Why?

Postby Kelly » Fri Aug 03, 2012 3:35 pm

I've been with Interbank since 2004, no problems other than some nitpicky red tape stuff when I lost my passport.
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Re: Best Banks and Why?

Postby chi chi » Fri Aug 03, 2012 3:56 pm

falconagain wrote:Between 2007 to 2010 I used Interbank without any problem. Some people
have mentioned that the Peruvian Banco de la Nacion has improved too.


Just the long waiting lines at Banco de la Nacion are a pain in the rear.
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Re: Best Banks and Why?

Postby rama0929 » Fri Aug 03, 2012 10:00 pm

FHCZ wrote:
gerard wrote:Actually Azteca are in the Fondo de Seguro de Depósitos. There is a list here http://www.fsd.org.pe/paginas/02-miembros/02-01-bancos.html


Hey, my antivirus blocked this link because it was infected, so be careful don't click on it!


Showed up fine for me.
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Re: Best Banks and Why?

Postby Philipc4u59 » Wed Aug 08, 2012 2:18 pm

I am interested in opening an account & have my Social Security check deposited directly - any suggestions?
In the USA, I was treated very well as monthly deposits are sought after; my last bank offered me $100 to open an account!

Are any safe banks offering such promotions w/o monthly fees? I try clicking on various sites; only to find no option for English?? I keep being refused a credit card affiliated with a store (supermercado); they tell me if I don't have employment in Peru - DENIED! I find it quite appealing to save 10% on purchases of food; I am not 65 - so no shopping on Wednesdays for these generous discounts.

I get frustrated by two "policies":
1. NO RETURNS; I bought an XL shirt, only to find too small.
2. When there are good ofertas; they usually sell out quickly with no "rain checks".

Trying to maximum my finances as rents are outrageous per square foot!

Gracias,
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Re: Best Banks and Why?

Postby chi chi » Wed Aug 08, 2012 2:30 pm

Philipc4u59 wrote: I find it quite appealing to save 10% on purchases of food; I am not 65 - so no shopping on Wednesdays for these generous discounts.


Buy food at the markets. Supermarkets are very expensive. You will save much more than 10% at the markets.

Philipc4u59 wrote:I am interested in opening an account & have my Social Security check deposited directly - any suggestions?


Those days you need a CE or DNI. Till 2011 you could open a bank account with your passport and other ID with photograph.

Philipc4u59 wrote:I get frustrated by two "policies":
1. NO RETURNS; I bought an XL shirt, only to find too small.


Buy clothes at TOPITOP. Nice clothes and the more items you buy the more discount they give you and if you don't like it afterwards, you can change it. If you get their free storecard you get points and can get clothes for free.
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Re: Best Banks and Why?

Postby Kelly » Wed Aug 08, 2012 7:58 pm

Please stay on topic - this post is about finding the best banks, your other questions should go in a different thread - Thanks!
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Re: Best Banks and Why?

Postby JanD » Thu Sep 20, 2012 7:34 am

I tried to open a bank account with only my passport, a provisional lease contract and a recommendation letter from my Dutch bank.

I went to Pardo and Larco (just to try another, larger, office), but they all refused (Interbank, ScotiaBank, BCP), because they require either a DNI or a "carta de extranjero".

Despite my best smile :lol: and arguments they refused; they understood my problem, but (of course) they had to stick to the rules.
Got a bit desparate :oops: at the end but....

........HSBC on Larco did not have any problem opening an account with just my passport :lol: .
Only (but I needed to do that anyway) had to go to Breña to get my permision to sign contracts and that's all.

They started opening the bankaccount the first day and when I came back the following day with my permission to sign contracts: just some paperwork and that was it 8)
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Re: Best Banks and Why?

Postby richiecry » Fri Sep 21, 2012 9:09 am

I have a story. Having returned to Canada after living in the USA for 14 years, I decided to open a Scotiabank account in Canada knowing that I would be moving to Peru sometime in 2013. Scotiabank (a Canadian bank) advertises no ATM charges in any country where there ATMs/branches are located. I as well did not bother bringing any cash as I always used ATMs freely in Peru during the time I lived in the USA and had no issues. I also did not worry as I remembered (correctly) that there were a number of Scotiabanks in Miraflores close or on Avenida Larco. I then tried 4 different Scotiabank ATMs from actual Scotiabank branches and my Scotiabank card did NOT work at any of them. For a joke, my brother tried his Bank of Montreal card at one of the Scotiabank ATMs and IT WORKED! Scotiabank ended up refunding all the ATM charges once I returned and promised to look into why the ATMs did not accept my card. The very strange thing though....is that the card worked in a Scotiabank ATM in Arequipa....
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Re: Best Banks and Why?

Postby rama0929 » Fri Sep 21, 2012 5:08 pm

richiecry wrote: The very strange thing though....is that the card worked in a Scotiabank ATM in Arequipa....


Could be a network issue
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Re: Best Banks and Why?

Postby Scottperu411 » Sun Sep 23, 2012 1:51 am

richiecry wrote:I have a story. Having returned to Canada after living in the USA for 14 years, I decided to open a Scotiabank account in Canada knowing that I would be moving to Peru sometime in 2013. Scotiabank (a Canadian bank) advertises no ATM charges in any country where there ATMs/branches are located. I as well did not bother bringing any cash as I always used ATMs freely in Peru during the time I lived in the USA and had no issues. I also did not worry as I remembered (correctly) that there were a number of Scotiabanks in Miraflores close or on Avenida Larco. I then tried 4 different Scotiabank ATMs from actual Scotiabank branches and my Scotiabank card did NOT work at any of them. For a joke, my brother tried his Bank of Montreal card at one of the Scotiabank ATMs and IT WORKED! Scotiabank ended up refunding all the ATM charges once I returned and promised to look into why the ATMs did not accept my card. The very strange thing though....is that the card worked in a Scotiabank ATM in Arequipa....


Every time I leave Canada I phone Scotia and RBC and tell them that my card will be used in Peru from X date to X date. Never had an issue. Merari went back to Peru last minute one time and we never called....card never worked. It's a security thing. Although weird yours did work once in Arequipa.
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Re: Best Banks and Why?

Postby chi chi » Sun Sep 23, 2012 12:30 pm

Scottperu411 wrote:
Every time I leave Canada I phone Scotia and RBC and tell them that my card will be used in Peru from X date to X date.


With INTERBANK you have to inform them if you are going to use your card abroad otherwise you can't use it abroad.
Everytime, I go abroad they want to know from what date to what date, and in which country or country you are going to use your card.
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Re: Best Banks and Why?

Postby fanning » Sun Sep 23, 2012 1:17 pm

chi chi wrote:With INTERBANK you have to inform them if you are going to use your card abroad otherwise you can't use it abroad.
Everytime, I go abroad they want to know from what date to what date, and in which country or country you are going to use your card.

That is also with Scotiabank and BCP.
In fact I had once when we went to Brasil I informed both banks about my trip, but for some stupid reason BCP didn't process it correctly as they told me afterwards because I got the credit card with my CE and now I have a DNI, their system didn't process that correctly ..
Luckily I still had my Scotiabank card, else I would have been without money in Brasil.
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Re: Best Banks and Why?

Postby chi chi » Sun Sep 23, 2012 1:22 pm

fanning wrote:Luckily I still had my Scotiabank card, else I would have been without money in Brasil.


I don't trust banks and cards. I always take enough money with me in cash.

Last week, when I was in Cuba, I've met 2 American girls that couldn't take any money out at all with their cards from Bank of America. Luckily, they could resort on the kindness of the Cuban people for food and a place to sleep.
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Re: Best Banks and Why?

Postby Aideon7 » Mon Sep 24, 2012 11:19 am

So I don't know if the rules have changed as I opened my account last year in 2011, but either way I tried to open an account with only my passport, and a recommendation from my US bank. Caja Sulliana, Caja Truijillo, Interbank, Caja Puira, BCP, Banco del Nacion, and Banco Continetal turned me down. I was able to open the account with Banco Financero.

I have personal experience with my Ahorros Soles account with Banco Financero, and with the companies Interbank accounts. I have nothing to complain about either one of them, they have both been very accommodating, answering questions about what can, and cannot be done, and what papers and so forth need to be signed to do whatever. Banco Finacero has a good online banking system as well, it was very easy to apply for the ability to see my balances online, and the login box is on the front page, so I don't have to memorize how to navigate to where I need to go. My understanding is that they also offer the ability to realize bank transfers online, but the application for that is a little more involved.

Both use Global net Cajeros which have given me good access to my money. Interbanks online banking abilities are much worse, but they have been very willing to listen to me explain what I need to do, and then give me suggestions on how that can be done.
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Re: Best Banks and Why?

Postby Expat Chronicles » Wed Sep 26, 2012 6:40 pm

fanning wrote:The biggest bank in Peru is Banco de Credito de Peru, and I can recommend it.
Their website is http://www.viabcp.com You can get any Visa debit/credit card. Try to get in the Banco Exclusiva program, as you get better service..


I have gripes with BCP. I make payments in $ to a supplier w/ BCP account and I always have to go with more because they reject A LOT of bills that aren't fake and have no troubles passing anywhere else. If I don't have extra dollars their exchange rate for soles is at least 10 cents higher than the market.

That one may apply to all Peruvian banks, don't know. BUT I'd also complain about their ATM's. They're the most common in the country, but I can't use them. Granted I'm using an int'l bank card, but the BCP ATM's always time out. Seriously, what ATM's time out in 2012???

I'm not British and my preferred bank is HSBC.
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Re: Best Banks and Why?

Postby Aideon7 » Thu Sep 27, 2012 8:11 am

I don't have experience with BCP, but I do know that my Grandfather does not like them. He has had bad customer service experiences with them in the past. As I said before, both Interbank and Banco Financero use Global Net cajeros I have never had a problem with them other than occasionally not giving me a reciept and not warining me before hand.

About fake bills, I don't do much business in Dollars as most guests pay in Nuevos Soles, but I once was able to deposit a S/.100 bill into our Interbank account, that was previously rejected by Enosa. I am not sure 100% but I do believe it may have been fake.

Banco Financero has tried to give me fake bills once or twice when I withdrew money from the teller.
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Re: Best Banks and Why?

Postby Goran James » Fri Oct 19, 2012 11:13 am

Hi there!

I want to share my experience.
I went to DIGEMIN and fixed my permission to sign contracts as a tourist! What a job! Took like 3 hours in total, total cost of approx 60 USD and I only have the permission now for 1 month, have to the same procedure again if I want to extend.

Anyways - the same day I went to try to open a bank account. First BCP - they said no.
BBVA - to long que, I waited and waited, and then I went to
Scotiabank - no problems! There ATMs here in Lima are also very fast when you want to take out money.
So I got my account and everything works perfectly fine!

You CAN open an bank account without Carnet de extranjeria. And its also different from office in office of knowledge about this I see.

Good luck!
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Re: Best Banks and Why?

Postby chi chi » Fri Oct 19, 2012 3:47 pm

Goran James wrote:
You CAN open an bank account without Carnet de extranjeria. And its also different from office in office of knowledge about this I see.

Good luck!



Same with many things in Peru. In Lima, you can't get a driving licence without CE but in the provinces it's no problem at all in many cities.

A friend of mine, arrived in Peru last week and opened a bank account with BCP in Tarapoto without any hassle and without CE, but in Lima they refused.
Often it helps if you talk to the gerente de la tienda directly.
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Re: Best Banks and Why?

Postby Aideon7 » Fri Oct 19, 2012 6:46 pm

Well it would have been nice to be able to get a drivers license up here without a CE. You cannot get a license to drive without a CE in Tumbes, nor in Piura, I have a contact in Piura, and all he was able to do is get me those papers that say my license is in tramite once every couple of months. I have my CE now so getting a license was no problem, but certainly in these to provinces licenses are for people with a CE or a DNI.
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Re: Best Banks and Why?

Postby Kelly » Fri Oct 19, 2012 8:36 pm

Please keep the topic on banking.
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Re: Best Banks and Why?

Postby emanaku » Sat Oct 20, 2012 9:32 am

In Cuzco:

We opened bank accounts (ahorros) in 2011 at Interbank without DNI - just with a passport.

In 2012 we opened bank accounts (ahorros) at BCP - but this was only possible with a "letter of recommendation" by someone who has a cuenta corriente at BCP (a letter form a person having a "cuenta de ahorros" is not sufficient).

What I miss with both banks: There is no monthly (or other period) "bank statement" downloadable online. That makes it really hard to follow what is going on at the account ...

The BCP ATM here in Ollantaytambo every now and then does not give money when you use with a VISA- or Maestro Card from US or Europe - it just times out. I think then they have network errors.
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Re: Best Banks and Why?

Postby fanning » Sat Oct 20, 2012 10:24 am

With BCP you can register your email ( call 311-9898 ) and they send free of charge each month a statement to your mail.
They do that for years already, without problems. You can also see the last 20 transactions with online banking, or getting the receipt in any bank from those terminals they have there.

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