Friday, 30 July 2021
Banks in Puerto Rico. Offshore accounts in Puerto Rico
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Puerto Rico was annexed to the United States as a result of the war between Spain and the United States in 1898 and acquired the status of the Commonwealth of Puerto Rico in 1952, bringing the residents of Puerto Rico are United States citizens. In Puerto Rico there is no central bank, its functions shall be exercised Federal Reserve Bank, which sets the lending rate for member banks and the Reserve adjusts monetary relations in the country. The Federal Deposit Insurance Corporation (U.S.) guarantees payment of bank deposits up to amount U.S. $ 100 000.

In Puerto Rico you can get all the basic banking services, with the share of electronic banking has recently increased. Most of the bank issues credit and debit cards that provide clients with access to funds through ATM network (commonly referred to as "ATS" - the local common name of ATMs by the abbreviation of the first such system developed in Puerto Rico). It is recommended to choose banking services (including their value) and interest rates, the analysis services of numerous competing banks and financial institutions. All banks are insured by the Federal Deposit Insurance Corporation (FDIC) and obey all the rules of control of banking activities, which apply to banks in the United States. Supervision of banks by the Commonwealth Government through the Commissioner of Finance (Comisionado de Instituciones Financieras).

Some banks operating in Puerto Rico:
Banco Popular (Banco Popular)
First Bankorp (First Bancorp)
In the Holding Company Inc.. (W Holding Co. Inc.)
Doral Faynenshial Corp. (Doral Financial Corp.)
Banco Santander (Banco Santander)
P endDzhi Faynenshial Corp. (GR & G Financial Corp.)
Banco Bilbao Vizcaya SA Arzhent (Banco Bilbao Vizcaya Argent SA)
Oriental Faynenshial Corp. (Oriental Financial Corp.)

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