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Old 04-16-2002
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Tinawburgess is on a distinguished road
foreign currency account

Hi

My husband and I are travelling to the USVIs early May to buy an american boat. We will eventually be sailing her back to England but in the meantime need to be able to manage our finances. Any ideas how best to do this. Open a dollar account in the USVIs? Just use dollar travellers cheques? Your help would be much appreciated.

Geoff and Tina Burgess.
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Old 04-16-2002
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VIEXILE is on a distinguished road
foreign currency account

If you take foreign currency to any of the local banks in the USVI, the teller''s eyes will glaze over and they''ll probably act like you aren''t even there. Find the best exchange rate at home, convert to one of the traveller''s checks and go from there. Does, for example, Bank of Nova Scotia operate in GB? A wire transfer of funds to open an account in the VI with Scotiabank, Chase, Banco Popular, etc. might be just as simple. Talk to your broker, if you have one, about logistics. What boat you buying? KW
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Old 04-16-2002
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scnicklefritz is on a distinguished road
foreign currency account

I used to work for a very wealthy American boat owner who kept an offshore account with Barclays Bank. You will find them everywhere in the Caribbean. They probably have branches in the USA as well.
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Old 04-16-2002
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Tinawburgess is on a distinguished road
foreign currency account

Hi
Thanks for your reply. The boat we are hoping to buy is a Morgan Outisland 41. It is a private sale, so no broker. Survey will take place mid May.
Will look into Scotiabank etc.

Many thanks

Tina and Geoff
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