Opening A Bank Account

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tiagoabner
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Re: Opening A Bank Account

Post by tiagoabner » Sun Dec 01, 2019 6:00 pm

admin wrote:
Sun Dec 01, 2019 5:29 pm
tiagoabner wrote:
Sun Dec 01, 2019 5:17 pm
Britkid wrote:
Sun Dec 01, 2019 5:02 pm
However, from a broader point of view thinking about all society, maybe you and I should be paying taxes to support the less well off. So if that's a factor in your thinking then fair enough.
You saw the angle I'm going for right away, ha! Also, I've accounted for the taxes I'll need to pay and for the time I would need to chase banks all over the place in my calculations. All Chileans that learned that I am currently enjoying a tax holiday gave me the shifty eye during my recent apartment hunt.
Yea chileans don't know what is in their constitution. Not knowing what is in that obscure tax law, I have to cut them a little slack on that one.
You're right, but some of them got outright angry when they learned about it. Of course I wasn't floundering it around, but it was needed during the apartment hunting process when the agents asked why the heck don't I pay taxes in Chile.

Anyway, Chilean income tax are laughably low, so I might as well pay them to avoid awkward moments down the line.
I'm NOT your lawyer, accountant or financial planner. All information at this post should be considered for your entertainment only. Consult a professional before making a decision regarding whatever topic was mentioned in this post.

Britkid
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Re: Opening A Bank Account

Post by Britkid » Sun Dec 08, 2019 11:42 am

When I opened the account at Banco de Chile, they tried to get me to add a paid monthly insurance against cybersecurity issues and so on, which I declined, even though she pushed it quite hard (presumably on commission). Is not having this security something I should be worried about? I'm assuming if someone steals money from our account, and I wasn't obviously negligent, like wrote down my PIN on a piece of paper or clicked on a link emailed to me from a fraudster, that they'll probably refund it in the same way they probably would in the UK? And the insurance is just to cover the cases of obvious negligence when the bank wouldn't normally pay out?

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41southchile
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Re: Opening A Bank Account

Post by 41southchile » Mon Dec 09, 2019 7:06 am

Britkid wrote:
Sun Dec 08, 2019 11:42 am
When I opened the account at Banco de Chile, they tried to get me to add a paid monthly insurance against cybersecurity issues and so on, which I declined, even though she pushed it quite hard (presumably on commission). Is not having this security something I should be worried about? I'm assuming if someone steals money from our account, and I wasn't obviously negligent, like wrote down my PIN on a piece of paper or clicked on a link emailed to me from a fraudster, that they'll probably refund it in the same way they probably would in the UK? And the insurance is just to cover the cases of obvious negligence when the bank wouldn't normally pay out?
If it's like Santander it also covers things like tampering of ATMs where they skim and clone your card, (normally done by visiting eastern European criminals ) if you have that happen you get money back nearly straight away, without it, you take your chances and takes longer but you'll still get money back normally. It is a ripoff I think, banks need to take more responsibility for their security.
Ignorance more frequently begets confidence than does knowledge: it is those who know little, not those who know much, who so positively assert that this or that problem will never be solved by science. - Darwin

Jamers41
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Re: Opening A Bank Account

Post by Jamers41 » Mon Dec 09, 2019 10:29 am

Britkid wrote:
Sun Dec 08, 2019 11:42 am
When I opened the account at Banco de Chile, they tried to get me to add a paid monthly insurance against cybersecurity issues and so on, which I declined, even though she pushed it quite hard (presumably on commission). Is not having this security something I should be worried about? I'm assuming if someone steals money from our account, and I wasn't obviously negligent, like wrote down my PIN on a piece of paper or clicked on a link emailed to me from a fraudster, that they'll probably refund it in the same way they probably would in the UK? And the insurance is just to cover the cases of obvious negligence when the bank wouldn't normally pay out?
It's supposed to be for a quick reimbursement of $$$ if you get hit by card skimmers, fraudsters or even just general unauthorized use of your card and thus account funds (for example your estranged wife figures out your card's PIN and goes on a trip to Jamaica without spending a peso of her own money). I pay roughly $2500 a month for this "insurance", and I've used it on occasion. I guess if I wanted to get really creative and dishonest I could make a big, unusual purchase and then claim that my card was stolen and in theory I should get the money back.

As far as your adventures with opening a current account go, from what it sounds like that's what you now have at Banco de Chile, so unless you're afraid they'll change their mind and suddenly close the account on you, I would just go with that and start building a credit history by paying back the use of credit on time. An account with a credit line is the "real deal" here in Chile to banks. Once the bank(s) start(s) to see that your income is quite real and that your financially responsible behavior is too, after say 6 months or a year, you should start getting offers for more credit and/or better banking terms from other financial institutions. If you're still satisfied with Banco de Chile at that point, you can just ignore the other banks and make them "suffer" for never taking you seriously before 8)

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