www.CostaRicaTicas.com

If so I"d appreciate being able to ask you some questions. PM me.

Here is my evaluation of HSBC -- PHUCK them

Thanks for reply...Got any details you could share?

Greengo...show some respect for those no longer with us (Marc Bolan)

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"In a nation ruled by swine, all pigs are upwardly mobile, and the rest of us are phucked until we can put our acts together; not necessarily to win, but mainly to keep from losing completely"...Hunter S. Thompson (RIP)

It depends on if you want the US government to know about your transactions or not. HSBC requires that you fill out an I9 (SSN identification) if you have an account with them, and they report transactions to the US. HSBC is a british company, but they do business in the US, thus they have to follow the US laws.

If HSBC were the last bank in Costa Rica, I would keep my money under the mattress.

HSBC had just entered the CR market and so I thought I would see how they are at business. I wanted to get a loan to pick up distressed property at a very reduced price. My credit here in CR and in the US is outstanding. Collateral is not an issue, either here in CR or there is the US.

They kept jerking me around by asking for additional information. The information was always hand delivered the next day after the request. When I tried to follow up with calls to the loan officer, she and her supervisor were never in the office and they never returned calls. I always dealt with a secretary.

I kept the seller on the string for about four months based on promises from the loan officer through the secretary that HSBC was going to fund a loan. In the end I lost the purchase and a lot of money.

Saying they suck is putting it mildly. I will stay with Scotiabank thank you very mcuh.

HSBC has not just entered the market. They bought Bannex, which means that all the current HSBC's are just Bannex's renamed.

And from what I understand, that's just SOP for Costa Rican Banks.

TheMadGerman That is what I meant by they just entered the market. Even though it was a buyout, they - HSBC - had just entered the Costa Rican market.

Global Finance magazine selected the best banks in 24 developed countries. Ireland and Iceland were not included; and apparently there are no developed countries in Central or South America because there is no category for them.

According to the website, “The winners of this year’s awards are those banks that attended carefully to their customers’ needs in difficult markets and accomplished better results while laying the foundations for future success.” Judging was based on objective and subjective factors.

The Objective factors used were:

• Growth in assets
• Profitability
• Geographic reach
• Strategic relationships
• New business development
• Innovation in products

The Subjective factors used were:

The Opinions of-

• Equity analysts
• Credit rating analysts
• Banking consultants
• Others involved in the industry

Source: http://topforeignstocks.com/2009/02/23/ ... anks-2009/

The award was for North American Scotia Bank and it doesn't say anything about the separate but attched Scotia Bank in Costa Rica. My believe is that the Canadians pay really close attention to their operations here because they have too much to lose reputation wise if Scotia Bank Costa Rica does not perform up to standards.

In another category which is the best foreign exchange rates, Citibank won for Latin America. Deutsche Bank was the number one globally. “The best foreign exchange banks are those institutions that provide fast, reliable and cost-effective services to global businesses and investors, as well as advice and innovative products to meet the specific needs of their increasingly diverse range of customers.”

Global Finance Magazine, January 2009, WORLD'S BEST FOREIGN EXCHANGE PROVIDERS 2009, written by Gordon Platt; ANNUAL SURVEY / BEST FX PROVIDERS; Pg. 33 Vol. 23 No. 1, “Global Finance selects the leaders in the world's biggest financial market.”

But I cannot find anything on Promerica Bank headquartered in Pavas.

My wife has her account there and she's worried that something is amiss. She heard that it was going to be closed for some kind of move.

The branch at Nova Centro was not open on Saturday and there were no signs in the window stating the hours or that the bank was going to be closed for move or computer adjustments. Simply no word.

Does anyone know what is going on at Promerica?

Reports from expats in CR are that all of the banks in CR are going through this with their gringo clients. They are receiving letters threating to close their accounts if they do not report to the bank to update their information.

Evidently this is a requirement being imposed on them by the good old US of A! Homeland Security & the IRS are cracking down on ALL offshore bank accounts held by US citizens. Even the Swiss are giving in to the pressure!

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Women are like beers. I've never had one that I didn't like. Just some that I like more than others! --Western