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Foreign Banks on Margarita

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Foreign Banks on Margarita

... Hi, I am considering come and live for a while on Margarita Island, and I want to know is there any foreign bank, so I could make a transactions of my money form/ to my European accounts, and can I exchange bolivares for dollars, or euros in banks?

Thanks

J.

Margarita Island
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1. Re: Foreign Banks on Margarita

Unfortunately no.

If you transfer money to Venezuela it will be converted at the official exchange rate of 2,15 to US$1 (or equivalent in Euros). You can easily get up to 260% more than that by bringing US$ cash in 100's or 50's.

If you plan on staying for a long period there are 2 other things you should do BEFORE leaving home.

1) Open a PayPal account & VERIFY your credit card & bank account. It's very important to do this before leaving home as once you are here you will not be able to.

2)Make sure you can make bank transfers from your bank to foreign banks. Sometimes you need to sign something at your bank to be able to do this. You will also need to bring whatever codes, etc that your European bank requires in order to do on-line transactions.

Once you have these 2 things arranged you will not have too much trouble finding local people to provide you with Bs at a good price.

Enjoy your holiday!

2. Re: Foreign Banks on Margarita

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