Thread: Multibank - Panama

I have finally closed all business and personal accounts with this fkn garbage bank. It's been 5 years of pure and utter hell. Finally I can breathe again!

I cannot even begin to describe what a nightmare it has been - every interaction has just been endless shit, more shit and shit on top of shit.

Have a drink and relax.

....because tomorrow you have to begin your search for one that's better!

I just realized I have 600,000 dollars in cash on my balcony and no bank. Any suggestions?

Multibank paid an incorrect interest for half a year then took half a year + 20 phone calls and 20 emails to correct it. They also requested that I renew my 2 inch pile of account opening documentation every year. I have experience (directly and indirectly) with maybe 20 banks in Panama and the level of assholeness is simply unheard of.

Originally Posted by BalaBeacher

....because tomorrow you have to begin your search for one that's better!

What's that address again?

HSBC randomly decided recently to empty my account to -0-. They thought this was a far better way to get my attention than, oh, I don't know, email me that they wanted more paperwork for a four-year old account. Of course, it took many calls to figure out their stategy because it was not shared with all the customer service reps.

HSBC is possibly the only bank that could match the sourness of the sweat on Multibank's bollocks.

Originally Posted by BalaBeacher

HSBC randomly decided recently to empty my account to -0-. They thought this was a far better way to get my attention than, oh, I don't know, email me that they wanted more paperwork for a four-year old account. Of course, it took many calls to figure out their stategy because it was not shared with all the customer service reps.

I find my local Multibank to be costumer oriented and friendly. I enjoy trouble free banking with them.

Originally Posted by pingun

I just realized I have 600,000 dollars in cash on my balcony and no bank. Any suggestions?

Multibank paid an incorrect interest for half a year then took half a year + 20 phone calls and 20 emails to correct it. They also requested that I renew my 2 inch pile of account opening documentation every year. I have experience (directly and indirectly) with maybe 20 banks in Panama and the level of assholeness is simply unheard of.

well you should just stroll over to TOC and you should able to buy about 6 condos there now with your loot , and there will be no prolbems with that investment , it will be as smooth as silk LOL

I went into my bank last week to apply for a Visa credit card. "Certainly" said the pleasant lady, "just complete the application form." The form was well designed and had plenty of space to insert the answers. I handed back the completed form and the lady said "That will do nicely, your card will be ready for collection at 2pm tomorrow." That's it?" I replied incredulous, "no other formalities, I thought that I may have had to open a plaza fijo to guarantee the charges." "No" replied the lady "you have banked with us for over two years and have always maintained a very healthy balance, we find it simpler just to refuse any transactions that are not covered by your current balance, besides, you already have a plaza fijo with us." "You don't need any personal reference letters and a reference from two other banks or two photocopies of every page of my passport including the cover?"

"That would be pointless" she replied "we already have that information on file. In Panama we are always seeking green solutions and therefore dispense with unnecessary paperwork that is only likely to just get lost." I called the bank at 11am the next day and was told the card was ready for pick up.

The doorbell rang, I woke up with a start, it was the fed ex man delivering my new Visa card from my Canadian bank...

Originally Posted by EdBowers

I went into my bank last week to apply for a Visa credit card. "Certainly" said the pleasant lady, "just complete the application form." The form was well designed and had plenty of space to insert the answers. I handed back the completed form and the lady said "That will do nicely, your card will be ready for collection at 2pm tomorrow." That's it?" I replied incredulous, "no other formalities, I thought that I may have had to open a plaza fijo to guarantee the charges." "No" replied the lady "you have banked with us for over two years and have always maintained a very healthy balance, we find it simpler just to refuse any transactions that are not covered by your current balance, besides, you already have a plaza fijo with us." "You don't need any personal reference letters and a reference from two other banks or two photocopies of every page of my passport including the cover?"

"That would be pointless" she replied "we already have that information on file. In Panama we are always seeking green solutions and therefore dispense with unnecessary paperwork that is only likely to just get lost." I called the bank at 11am the next day and was told the card was ready for pick up.

The doorbell rang, I woke up with a start, it was the fed ex man delivering my new Visa card from my Canadian bank...

I believed you until I got to the 'Green Solution' part.

Pingun, what's your address? Jajaja.

I opened a standard savings account at UniBank (on Ave Balboa) that was painless and quick. They don't yet have debit or credit cards, but if you need to get $600k of your balcony, it's a good option for temporary storage.

Many Panamanians have told me they prefer Banco General. Also, when I go cash commission checks from people with accounts at Banco General, the check cashing process is painless, quick, and no one "stares me down", but I don't yet have an account with them.

Just looked at the dates on these threads... wow, will check that out before posting again. It's likely that the banking issue is already resolved.

Anyone care to recommend this place for safekeeiping outside banks?

Off Shore | Free Zone | Safety Deposit Boxes Panama Gold | Gold Bars | Cash Storage | Jewelry Safe Deposit | Panama Off Shore Deposit Boxes | ThePrivateBankVault.com

Anyone care to recommend this place for safekeeiping outside banks?

Their pricing indicates $250, $500, or $1,000. Is that per year for different size boxes?

For reference, I have a small safe deposit box at Banco Universal, it cost $60 for the first year and they haven't billed me again yet. I think that I will PM Pingun...

Originally Posted by EdBowers

Their pricing indicates $250, $500, or $1,000. Is that per year for different size boxes?

That's the way I read it.

It is not very clear as they offer five different sizes as well as a couple of safes and they say that you can rent by the month also.

I have an account with them as well. And i wouldnt call it great, but wouldnt call it hell either. Nothing shocking really.

Panama is the best celebrity name many bank and other potion. Panama is a cigar name.!