If I set up a Roatan bank account, can I transfer money from my US bank account without paying the wire transfer fee? I want to transfer money every few months into Roatan to pay bills, etc.
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Hi @sam and welcome to the forum. It is becoming increasingly more difficult for anyone except a resident to setup a bank account. Many require any foreigner to have residency. If one exists, surely they will chime in. This is where the Bitcoin would be a nice path.
Backstory: When we arrived on the island several years ago, Bank of Lafise allowed most anyone to set up a bank account with valid ID. We often sent money via wire transfer. Once receiving residency and forming our corporation we setup an account at BAC which processes our credit card payments and pay island bills. It is very efficient and easy to deal with vendors including RECO for payment transfer and the costs are pretty minimal compared to US pricing.
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No. There will be a fee on international wires.