Diversification is the key to financial safety, which is an important reason why people tend to have at least one bank account abroad. The world is shaking, and the situation in your home country may suddenly change – or your bank account will be frozen due to the need for some checks… In this case, you will easily switch to your account abroad – if you have one, of course. Puerto Rico is a good banking destination, and its financial institutions are a part of the American payment system – which may be yet another advantage for you. In this post, we will take a look at how to open a bank account with a Puerto Rico bank remotely.
If you need more information, you are welcome to visit our portal and read a more detailed article on Puerto Rico bank account opening. You can also discover other banking destinations we offer, or take advantage of our extensive knowledge base of articles on international business, asset protection, relocation, citizenship by investment, tax optimization, and more. We strongly recommend that you schedule a meeting with our expert (the initial one comes at no charge) to discuss your financial (or business) needs and find an optimal solution. We will also be happy to help you with account opening if you decide to delegate all the administrative steps to us (at a reasonable fee). In short, do not hesitate to click on the link to communicate with our specialist!
The Puerto Rican Bank We Recommend
Puerto Rico has always had close ties with the US, so it does not come as a surprise that its banks comply with US standards and regulations. The country has full access to the banking system of the United States – well, just like any of its states. Even the central bank of Puerto Rico is the Federal Reserve Bank!
We will recommend a bank to you that has proven its stability and reliability over the years. It has an international banking license and its own account in the Federal Reserve. Our experts collect feedback from our customers who use the services of this or that bank across the world, and this one has a very high ranking.
Non-Resident Account in Puerto Rico: Advantages
Why should you opt for Puerto Rico? Well, take a look at the main benefits this choice will bring – it may be exactly what you need!
- You can open a personal bank account remotely, which is very convenient.
- The systems available for money transfers include SWIFT, SEPA, and Fedwire.
- You can set up an account in US dollars, euros, or pound sterling.
- Take advantage of customer support in English.
- Your daily cash flow will not be limited in any way.
- You will have 24/7 access to your funds thanks to online banking.
- Debit cards will be available shortly.
- You can get all the regular services usually expected from a bank.
There are some limitations, though: the bank we offer does not deal with cryptocurrencies and does not accept withdrawals from various exchanges. Please contact us to discuss these issues.
Puerto Rican Banking: Restrictions
The restrictions that the Puerto Rican bank we promote complies with are imposed by the US Department of Treasury. If you are a national of the country under OFAC sanctions, your application may be turned down. However, there is no need to worry: if the sanctions of the US banking system apply to you, you can simply get in touch with our expert to get advice.
As for the thresholds related to the terms of service, they are not set: you are not required to keep any minimum deposit or balance in the account. All cash limits are set on an individual basis.
Bank Accounts and Cards
The Puerto Rican bank offers current accounts for daily transactions and savings accounts for fixed-term deposits. If your goal is to receive interest on the funds you deposit, please tell our specialists about it as the bank has special offers for customers interested in fixed-term deposits.
You can get a debit card from the bank to make payments in any store or withdraw cash from ATMs around the world. Our experts will tell you whether this service is currently available.
Remote Account Management
The Puerto Rican bank that we offer provides a secure online system to its foreign customers to enable them to easily get statements, set up notifications, view the account balance, and transfer money between different accounts.
- Account status. You will be able to view and download all important information on the use of payment cards, recent transactions, and balance.
- Transfers. You will be able to replenish your card online or transfer the funds to another financial institution or between your accounts.
- Setting up notifications. There is a reminder system you can configure to see whether you need to make mandatory payments or your balance is low.
- Online account statement. You will be able to easily control your finances using the online banking system and ordering an electronic statement whenever you need it.
- Configurable settings. You can change the settings to make the account a convenient tool for your payments by enabling payment via mobile phone number, email, or using the recipient’s details.
- Notification for recipients. The system makes it possible to enable the settings of informing the transfer recipient by sending a text message or an email.
- Payment acceptance. You will need to provide a phone number or an email to register with a partner of the Puerto Rican bank we recommend and easily receive payments in the future.
- Crediting method. You can choose how quickly you want the recipient to receive the money: using the free Standard Delivery service, instantly, or on the next day.
Personal Account Opening: Procedure
Follow a few simple steps to get a fully operational bank account in Puerto Rico in no time:
- Get in touch with us to discuss this opportunity (we have to make sure we can help you).
- Pay a fee for our services using any method, from Western Union to cryptocurrency.
- We will give you recommendations on how to fill out the bank forms to successfully open an account and make all the administrative steps until your account is set up.
As soon as the bank receives a full package of documents, it will need about three working days for processing, and then it will open an account for you.
Click on the above link to read more or contact us!
