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eurotuner
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Re: Best Bank for Savings Account

Postby eurotuner » April 24th, 2018, 5:34 pm

All is the same sire. But from experience with most banks FCB is best.

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fouljuice
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Re: Best Bank for Savings Account

Postby fouljuice » April 24th, 2018, 6:04 pm

Image

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Re: Best Bank for Savings Account

Postby K74T » April 24th, 2018, 9:43 pm

FCB

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Re: Best Bank for Savings Account

Postby Cantmis » April 24th, 2018, 10:21 pm

Rbc

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Re: Best Bank for Savings Account

Postby j.o.e » April 24th, 2018, 10:28 pm

FCB

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Re: Best Bank for Savings Account

Postby Gem_in_i » April 25th, 2018, 6:15 am

FCB dont charge any monthly service fee

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Re: Best Bank for Savings Account

Postby ADONI » April 25th, 2018, 11:41 am

FCB
You can fill out the form online and just going in with supporting documents to complete.

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DVSTT
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Re: Best Bank for Savings Account

Postby DVSTT » April 25th, 2018, 12:38 pm

Gem_in_i wrote:FCB dont charge any monthly service fee


Seriously? Republic is $13 / month. :(
What about making purchases and withdrawing money?

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Re: Best Bank for Savings Account

Postby redmanjp » April 25th, 2018, 1:16 pm

^ that reminds me I have to close a dormant account in RBL LCM. Charging me about $30 or so for fees monthly.

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death365
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Re: Best Bank for Savings Account

Postby death365 » April 25th, 2018, 1:17 pm

ALL banks give 0.005% interest, so wha u hav to do is only pass d money thru the bank and put the rest in credit unions/ unit trust/ tax savings plan etc

but FCB is the best(aka cheapest)

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Re: Best Bank for Savings Account

Postby ADONI » April 25th, 2018, 1:32 pm

DVSTT wrote:
Gem_in_i wrote:FCB dont charge any monthly service fee


Seriously? Republic is $13 / month. :(
What about making purchases and withdrawing money?


$15 service charge, if yuh drop below a $100 on the FCB Saving Account.

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Re: Best Bank for Savings Account

Postby redmanjp » April 25th, 2018, 2:04 pm

death365 wrote:ALL banks give 0.005% interest, so wha u hav to do is only pass d money thru the bank and put the rest in credit unions/ unit trust/ tax savings plan etc

but FCB is the best(aka cheapest)


Any credit unions have linx?

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Re: Best Bank for Savings Account

Postby RhymePaladin » April 27th, 2018, 9:01 am

death365 wrote:ALL banks give 0.005% interest, so wha u hav to do is only pass d money thru the bank and put the rest in credit unions/ unit trust/ tax savings plan etc

but FCB is the best(aka cheapest)


Nice thanks will consider doing this. Thanks all for the advice

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Re: Best Bank for Savings Account

Postby Ted_v2 » April 27th, 2018, 8:06 pm

tech u crdit union

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Re: Best Bank for Savings Account

Postby bluefete » April 27th, 2018, 9:28 pm

fouljuice wrote:Image


THIS!

0% interest just like the banks give you.

But with the added benefit of $0.00 in charges unlike the banks who will take their pound of flesh every month.

Also both the banks and the mattress do NOT give you a return that matches inflation so you lose both ways anyway.

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Re: Best Bank for Savings Account

Postby bluefete » April 27th, 2018, 9:37 pm

ADONI wrote:
DVSTT wrote:
Gem_in_i wrote:FCB dont charge any monthly service fee


Seriously? Republic is $13 / month. :(
What about making purchases and withdrawing money?


$15 service charge, if yuh drop below a $100 on the FCB Saving Account.


If you are now going to open an account with any of those banks or financial institutions, do not forget to walk with the following:

Your convict picture from de police (because that is exactly how you will be treated)
A clean pair of jockey shorts ( because the bank will want to see that and all before they open your account)
A utility bill from from mammy / daddy / landlord to show that yuh supposedly living wey yuh say yuh is.
A letter from mammy/daddy/landlord which states yuh living by dem.
A letter from yuh employer saying dat yuh employed.
A letter from yuhself saying dat yuh self-employed (but de banks dem eh go believe yuh anyway)
A letter to de bank saying dat yuh self employed and showing dat yuh accounts up to date.
A letter to de bank saying dat yuh is not a social bandit / money launderer.
A certificate of good character from de police.

Once yuh have all ah dat - be prepared to be interrogated like yuh is ah bigger bandit dan some of de most 'respectable' businesses.

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Re: Best Bank for Savings Account

Postby Gem_in_i » April 28th, 2018, 12:52 am

^^^ True and have to make an appointment too, at FCB.

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not_a_monkey
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Re: Best Bank for Savings Account

Postby not_a_monkey » April 28th, 2018, 5:49 am

DVSTT wrote:
Seriously? Republic is $13 / month. :(
What about making purchases and withdrawing money?


What kind of account you open? The Savings Plus from rbl has no service charges, and two free withdrawal per quarter. 4.00 per withdrawal if you go over that. The Time Saver is a chequing account despite the name, and that's 15.00 per month.

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Re: Best Bank for Savings Account

Postby 88sins » April 28th, 2018, 10:41 am

Op, it depends on how you intend to use it.
For an actual savings account that you will not be making frequent withdrawals from & looking for as much interest as possible you could use either RBL savings plus or TISP, or RBC Roytrin mutual fund account.
For a high traffic savings where you will be using it for salary to pass thru the bank, pat for day to day expenses etc, it doesn't really matter cuz none of the banks that offer what they term "regular savings accounts" pay any interest worth looking for. Charges will vary from one bank to the next, but I've noticed that service does too.
So if you want you could open an account in FCB where u would spend half account day waiting in line if you have to do a transaction otc but pay minimal fees, or u can go with RBL & pay a nominal fee a get your transactions done after a 20 minutes in line and 5 at the counter. It's all up to you and if you find your time is worth more or less than a few dollars.

Only thing i go say is if u going RBC, know what you want to do, choose the account you want to open well, & don't be afraid to put questions to the banks reps about the pros and cons of the accounts they try to push you towards.
Anybody here remember RBC's Multiplier account they were pushing really hard a long time ago? They were saying the account pays out a guaranteed 5%/day in interest. But here's how they calculated it
5%/day × 30 days/month ÷ 365.
So when you feel like you making real interest on them using your money, your first statement will show you otherwise.

Op, good luck. And remember, opening any account with any bank is about more than just a place to keep your money. Try to develop a good relationship with the institution for when you ready to do other things down life's road.

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Re: Best Bank for Savings Account

Postby toyolink » April 28th, 2018, 11:28 am

Banks in T&T have lost their way and are no longer creating proper incentives for the average citizen to save.
The present reality seems to be a consequence of sustained high liquidity and the high thresholds of deposits banks are targeting to qualify customers for good 'treatment'.
Philosophically banks like many other big businesses no longer place emphasis on their customers reality but offer very static products and services which we either accept or 'go-to-hell'.
We are all faced with a kinda of cartel type behavior which finds some comfort in the state enforced financial regulations which empower these institutions in their nonesense.
They now buy your money for little of nothing (their inventory) and flog it back as loans and advances at crazy margins, whilst paying their lower level human resources wages that are at subsistence levels.

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hydroep
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Re: Best Bank for Savings Account

Postby hydroep » April 28th, 2018, 11:49 am

Agreed on FCB, though it's only a matter of time before they too start charging a monthly fee...:|

And as a reminder to secure your stash of cash properly:


Chinese family’s savings stored in cave destroyed by rats

About 27,000 yuan in notes gnawed by rodents, newspaper reports

PUBLISHED : Tuesday, 27 December, 2016, 1:24pm
UPDATED : Tuesday, 27 December, 2016, 1:24pm


A villager in northern China stored 27,000 yuan (HK$30,000) in cash in a vat in a cave, only to later find all the notes torn to pieces by rats, mainland media reports.

The woman, whose full name was not given, put the money earned by her husband in a vat in July and moved it to a cave in Yulin in Shaanxi province, the China Business News reported.

The money was in five, 10, 50, and 100 yuan notes.

The woman’s son was not feeling well and she went to retrieve some of the money to pay for his medical expenses, only to find it shredded.

Elderly Chinese farmer hid life savings in wall ... then found the cash rotting after water leak

“I’m not literate, I won’t go and save the money in a bank,” the woman, 51, was quoted as saying. “I thought it was safe to put it in a vat. I wasn’t expecting this.”

China’s currency regulations state reimbursement is possible for destruction of cash in a fire, or by rats or bugs, if the owner can prove the legitimate source of the income and a bank verifies the notes and the damage caused.

A manager at a local bank where the woman lives was quoted as saying she should she collect all the pieces of the notes and give them to the bank, which will try its best to reimburse her loss.


http://www.scmp.com/news/china/society/article/2057398/chinese-familys-savings-stored-cave-destroyed-rats

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Re: Best Bank for Savings Account

Postby metalgear2095 » April 28th, 2018, 1:37 pm

88sins wrote:Op, it depends on how you intend to use it.
For an actual savings account that you will not be making frequent withdrawals from & looking for as much interest as possible you could use either RBL savings plus or TISP, or RBC Roytrin mutual fund account.
For a high traffic savings where you will be using it for salary to pass thru the bank, pat for day to day expenses etc, it doesn't really matter cuz none of the banks that offer what they term "regular savings accounts" pay any interest worth looking for. Charges will vary from one bank to the next, but I've noticed that service does too.
So if you want you could open an account in FCB where u would spend half account day waiting in line if you have to do a transaction otc but pay minimal fees, or u can go with RBL & pay a nominal fee a get your transactions done after a 20 minutes in line and 5 at the counter. It's all up to you and if you find your time is worth more or less than a few dollars.

Only thing i go say is if u going RBC, know what you want to do, choose the account you want to open well, & don't be afraid to put questions to the banks reps about the pros and cons of the accounts they try to push you towards.
Anybody here remember RBC's Multiplier account they were pushing really hard a long time ago? They were saying the account pays out a guaranteed 5%/day in interest. But here's how they calculated it
5%/day × 30 days/month ÷ 365.
So when you feel like you making real interest on them using your money, your first statement will show you otherwise.

Op, good luck. And remember, opening any account with any bank is about more than just a place to keep your money. Try to develop a good relationship with the institution for when you ready to do other things down life's road.

Rbl is probably the slowest I've used. Those tellers does be typing essays behind the desk it seems

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Re: Best Bank for Savings Account

Postby bluefete » April 28th, 2018, 2:25 pm

BTW - I read in the papers recently that you can only keep up to TT$25,000.00 in your home.

So what about those ministers (current and former) with big vault in their homes?

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88sins
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Re: Best Bank for Savings Account

Postby 88sins » April 28th, 2018, 6:35 pm

bluefete wrote:BTW - I read in the papers recently that you can only keep up to TT$25,000.00 in your home.

So what about those ministers (current and former) with big vault in their homes?

so they say, one of the the ideas behind it is because to drug traffickers & money launderers often keep large sums in cash on them, often at their home. But plenty business ppl do this too.

thing is, that no matter how much money a person might have, it could even be a couple billion dollars, basically it all belongs to the state. We all just use it to conduct business in this country. That's why defacing currency is a criminal offense, if you write in pen on a bill or cut a coin, you'd be basically destroying gov't property.

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DVSTT
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Re: Best Bank for Savings Account

Postby DVSTT » April 28th, 2018, 7:11 pm

not_a_monkey wrote:
DVSTT wrote:
Seriously? Republic is $13 / month. :(
What about making purchases and withdrawing money?


What kind of account you open? The Savings Plus from rbl has no service charges, and two free withdrawal per quarter. 4.00 per withdrawal if you go over that. The Time Saver is a chequing account despite the name, and that's 15.00 per month.


Career builder was what they swapped me to when I turned 19.
When I asked them about it they said all their accounts had that charge.
Also, just checked my statement and realised the charged me $0.75 to withdraw $60 from a republic ATM.
Steups; beginning to see where 3.6million a day in profit comes from.

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agent007
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Re: Best Bank for Savings Account

Postby agent007 » April 28th, 2018, 8:19 pm

Support local. Keep the profits and USD in TT. So my biased opinion would be both FCB and RBL.

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not_a_monkey
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Re: Best Bank for Savings Account

Postby not_a_monkey » April 28th, 2018, 9:36 pm

DVSTT wrote:Career builder was what they swapped me to when I turned 19.
When I asked them about it they said all their accounts had that charge.
Also, just checked my statement and realised the charged me $0.75 to withdraw $60 from a republic ATM.
Steups; beginning to see where 3.6million a day in profit comes from.


Oh okay, I cancelled my career builder when I open the time saver. Btw they charge you for the paper receipt now, 0.75¢ at the ABM. That's why the first prompt asks if you want a receipt.

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Re: Best Bank for Savings Account

Postby Ted_v2 » May 1st, 2018, 12:53 pm

Mad scn yes. I does move with cash majority of the time. Pull out a few k and rally that for a few months. Swipe when cannot cover purchases with cash

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Re: Best Bank for Savings Account

Postby RedVEVO » May 1st, 2018, 12:59 pm

Ted_v2 wrote:Mad scn yes. I does move with cash majority of the time. Pull out a few k and rally that for a few months. Swipe when cannot cover purchases with cash


Yes .. this is the way to rock and roll :D

PNM making us go back to cash transactions ..

And I wonder why ?

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Re: Best Bank for Savings Account

Postby metalgear2095 » May 1st, 2018, 2:01 pm

RedVEVO wrote:
Ted_v2 wrote:Mad scn yes. I does move with cash majority of the time. Pull out a few k and rally that for a few months. Swipe when cannot cover purchases with cash


Yes .. this is the way to rock and roll :D

PNM making us go back to cash transactions ..

And I wonder why ?

Where pnm come in that?

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