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Thread: Maduro bank

  1. #1
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    Default Maduro bank

    If you deposit a check to your account drawn on a foreign bank, Maduro will not release funds for 40 business days. This is 56 calendar days. Be warned, your money will be tied up for almost 2 months for Maduro's use. The tellers will not mention this when you make the deposit. The previous hold was 10 business and 14 calendar. It is now 4 times as long.

  2. #2
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    kob is offline Bonaire Lover SUPPORTING MEMBER - Bonaire Talker
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    If you are talking about MCB, my experience has been that the funds are available in 5-7 business days ... I routinely deposit checks drawn on US banks to my account and the money is posted in about 2 days, but not available for about 5-7 days.
    KOB
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  3. #3
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    The email I received from MCB said a hold on all foreign checks for 40 business days.

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    Quote Originally Posted by hank View Post
    The email I received from MCB said a hold on all foreign checks for 40 business days.
    OMG, I have a bank account with MCB, but I have not had that notice sent to me yet. Thanks for the heads up.

  5. #5
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    They are not notifying anyone.
    I emailed them after my Maduro ATM card said insufficient funds and my balance was way more than sufficient according to the 10 day deposit rule.
    They quoted 40 business days on all foreign checks. Used to be 10 business days per quote from the tellers.
    I telephoned them and they said 6 weeks.... which is 30 business days.
    6 weeks.... 8 weeks.... it is unheard of in banking..... nobody is going to have their money tied up for 40 "business" days which is 56 calendar days..... read 2 months.
    A deposit I made last week is not available until Jan 4 2016..... teller said nada.
    Plan ahead or use your foreign ATM card for cash and pay the fees or .........................bank elsewhere.. !!

  6. #6
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    I opened an account there to move money for a real estate transaction, and tested it with a small check. check for several hundred dollars funds were available in 14 working days, but could have been sooner, I don't know because I didn't try to withdraw the money. The next check was to a large amount, in the tens of thousands of dollars, the deposit on the property and the funds were available in 13 working days, but I didn't attempt earlier. I was told each time the check would be held for 7 working days. Then I made the big deposit, and guess what? They said 7 working days and it's been 9 working days and they will not release the funds and I can't close on the property. Not only that, they can't tell me how long the funds will be held. The teller supervisor kept saying the check hasn't cleared but it cleared in two days. I wonder what the police would have to say if I reported a crime that MCB has stolen my money? That's truly what they did!

  7. #7
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    Default

    The latest is they are no longer accepting foreign checks for deposit.

  8. #8
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    as of when? That has to be recent because they took one of mine last week.

  9. #9
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    Does this mean if I give the church a check on my bank account here in the USA when I come to Bonaire in January that the church won't get the funds?

  10. #10
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    If your church was to have the same experience as I had at the MCB bank, when they presented the check for deposit and asked when the funds would be available, they would be told 7 working days. 7 working days later, they'd be told they can't have the funds, no reason given, then they'd have to speak to the teller supervisor who would tell them incorrectly the check hasn't cleared when it cleared 6 days earlier. Following that, for several days, they'd speak to customer service and another supervisor, and two or three days later, they'd be told now they can have the money. No one would offer a reason that you couldn't have your own money out of your own bank account. In my case, I needed it for a closing and they didn't allow me to have the money on time. There was a delay for another reason, so it didn't actually impact the closing, but it easily could have.

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