Originally Posted by ianlgv
Hi we are about to head to The Bahamas
& Carribean and wonder if anyone has any information on Banks that have ATM's or Branches to allow us to get access to cash along the way. We have a US Wells Fargo Bank and 2 Australian Banks Citibank & CBA. Any advice or info would be greatly appreciated.
On virtually every island with a population there are ATM machines. On some islands the banks only open one or two days per week but the ATM is virtually always open.
- - These days we use the local currency for all transactions as it is easily obtained from ATM machines. There are "ATM cards" that are different from credit cards. These cards usually have the ATM logos of such things as "Maestro" and others. Your bank can issue an ATM card. Generally you do not use your "credit cards" to get local cash as doing so will trigger immediate interest accumulation to any balance currently on your credit card - in other words, your credit card "grace period" is terminated and you are charged interest on all outstanding and new credit card transactions. Note: a few good banks are different on this point but not many.
- - It is recommended that you have at least two different credit cards so that if one card gets compromised (number stolen/cloned) you have the different credit to use until you can get a replacement with a new account number. That can take several months.
- - Internet
access to your banking accounts is extremely important so you can monitor
the charges and debits to your bank accounts and move money
- - It is normal to keep your checking/ATM accessible account at a low balance and the bulk of your money
in a savings account or another account. This is so that should your ATM card get stolen or compromised you only loose minimal amount of money.
- - Most importantly look up on Google
or another search engine
- ATM Scams and learn the techniques thieves use to get your card number and PIN number. Also how they alter ATM machines to enable them to steal your account number and PIN. Simple procedures involve never using the same card you are going to use in the ATM machine to access the door for the ATM cabinet/alcove. Double-hand hide your finger movements when entering your PIN. NEVER, never allow anybody to assist you with an ATM transaction.
- - For credit cards simple things like never let the card out of your direct vision. Use cash for restaurant and other transactions where they will be taking your card to a remote
- - Once you learn the simple precautions you will find that money handling is extremely easy and quick. The only trick is to plan your money so that you run out of "local money" just as you are about to leave for the next place.