Banker Trust- sosua

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niceguy

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Aug 6, 2011
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Hi
i have heard of a company in Sosua called banker Trust. They offer 15% on US dollars. has anyone used this company? Are they reliable in the sense that when you want your money returned at the end of term, do they return it with out any problems?

If you prefer to PM me please do
 

liam1

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Jun 9, 2004
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I called their office about 2-3 years ago regarding some property they were advertising, didn't seem that professional to me, the guy on the phone was talking like "you know, whatever you need, my boy, i mean the president of the company, he's gonna hook you up...". Maybe they've changes since.
 

SKY

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Apr 11, 2004
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They were charging about $500 a year for a safety deposit box a few years ago. They could not pay me to put anything of value over there.

I met the owner a few times. Another self promoter.
 

phatman2

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Feb 15, 2008
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Do not use bankers trust for anything...

we used them to import our container of household goods, from the u.s......Them, along with the customs guys, basically extorted $18,000 u.s. dollars from us, and ended up keeping my brand new vespa scooter, as they wanted another 3,000 in duty for that....the bankers trust guys are affiliated with the customs , scam officers, and as we were paying bankers trust for their services, they also get payouts/ bribes from the customs guys, to hand over the gringo business...this is not an internet tale, but a fact...i was in the u.s., arguing with these bankers trust crooks, for 2 weeks, and they essentailly hold your stuff hostage, until you pay customs...STAY AWAY FROM THESE CROOKS...HOPE I HELPED SAVE YOU FROM BEING RIPPED OFF....
Hi
i have heard of a company in Sosua called banker Trust. They offer 15% on US dollars. has anyone used this company? Are they reliable in the sense that when you want your money returned at the end of term, do they return it with out any problems?

If you prefer to PM me please do
 

Seachange

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Jan 13, 2004
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www.Banker-Trust.com
Banker Trust has been around for over 7 years and has helped many hundreds of clients with their shipping, residency, mail delivery and financial service needs. Of course, there will be distractors. Above, one former from 5 years ago did not indicate to customs the full contents of his container. Customs discovered it and demanded more taxes. He did not have the money so the undisclosed item, a motor bike, was confiscated.

It is very important to declare everything to customs. They will search all containers thoroughly. The particular client didn't declare the bike to customs, or us. He felt it would be overlooked. Banker Trust was able to negotiate a reduced tax but the client had no funds. We really put ourselves out trying to help this client but in the end he blamed us for his own misdeed.
 

Jumbo

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Jul 8, 2005
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So, whats the deal with the 15% on a USD. We all know we get screwed by customs but the OP is about the 15%. Any info Seachange?
 

Seachange

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Jan 13, 2004
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For many years clients have earned up to 16% on their USD accounts. The company lends money at 2% a month secured by real estate. Loans are made at 50% LTV to expats in well known communities. Currently, the offer is 10% on the USD with a $25K minimum.
 

Seachange

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I called their office about 2-3 years ago regarding some property they were advertising, didn't seem that professional to me, the guy on the phone was talking like "you know, whatever you need, my boy, i mean the president of the company, he's gonna hook you up...". Maybe they've changes since.

The young man that you are referring to was a Dominican whose first language is not English. Growing up in the low-income section of Brooklyn, taught him to communicate the way he did. His Spanish was very professional.

If we (expats) were evaluated based on how we spoke Spanish, I dare say most of us would come off less than professional.
 

Seachange

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Jan 13, 2004
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They were charging about $500 a year for a safety deposit box a few years ago. They could not pay me to put anything of value over there.

I met the owner a few times. Another self promoter.

Banker Trust has offered safe deposit box for many years. Priced at $295, these are 2 ft long 2"X3" standard safe deposit boxes located behind a six-inch steel vault.
 

AlterEgo

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Jan 9, 2009
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Just to clarify, that's $295 dollars a year for a safe deposit box?

Sounds like A LOT to me, but I don't know what the going rate is in DR. Anyone else have a safe deposit box there? What bank? How much??

In NJ we pay $95 annually for a massive one.

AE
 

Seachange

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Jan 13, 2004
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The big difference is financial privacy. With a Banker Trust safe deposit box, you avoid the asset-tracking networks which most
banks are a part. This will frustrate prying eyes trying to identify and target your assets. The prudent use of a safe deposit box at Banker Trust can protect you from the threat of lawsuits, civil forfeiture, bank account freezes, business failure, restrictive laws, or political instability. Unlike local banks, we do not report that you have a safe deposit box to any authority.
 

belmont

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Oct 9, 2009
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The big difference is financial privacy. With a Banker Trust safe deposit box, you avoid the asset-tracking networks which most
banks are a part. This will frustrate prying eyes trying to identify and target your assets. The prudent use of a safe deposit box at Banker Trust can protect you from the threat of lawsuits, civil forfeiture, bank account freezes, business failure, restrictive laws, or political instability. Unlike local banks, we do not report that you have a safe deposit box to any authority.
Playing the devil's advocate, please answer the following question: Which govenmental agency would step in and protect my contents in one of your boxes in the event your business fails or the principles just pick up and leave the country? As you are now investing people's money in real estate, things happen.
 

Seachange

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Sounds like A LOT to me, but I don't know what the going rate is in DR. Anyone else have a safe deposit box there? What bank? How much??

In NJ we pay $95 annually for a massive one.

AE

With a Banker Trust safe deposit box you receive the utmost in financial privacy. In NJ you don't. Banker Trust was designed to prevent the asset-tracking networks which most banks are a part. As a result, prying eyes are frustrated trying to identify and target your assets. Your bank in NJ does not offer this asset protection.

Use of a safe deposit box at Banker Trust can protect you from the threat of lawsuits and civil forfeiture. Your NJ bank can not. And unlike local Dominican banks, there is no report that you have a safe deposit box to any governmental authority.
 

Seachange

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Jan 13, 2004
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Playing the devil's advocate, please answer the following question: Which govenmental agency would step in and protect my contents in one of your boxes in the event your business fails or the principles just pick up and leave the country? As you are now investing people's money in real estate, things happen.

You protect the contents in your safe deposit box with homeowner's insurance. Banker Trust nor any institution knows what, if anything is in your box.
 

belmont

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Oct 9, 2009
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You protect the contents in your safe deposit box with homeowner's insurance. Banker Trust nor any institution knows what, if anything is in your box.
So lets see if I got this straight.
  • You are inducing people to hide assets they don't want to report in your safe deposit boxes.
  • If the assets were to be pilfered, you say their recourse is to try to collect from their homeowner's policy (for an asset they never admitted having).
  • One certainly wouldn't report a theft to police for assets one is hiding.
I must congratulate you, you have concocted the plan for the perfect crime. Just have to decide what day is the day to lock the doors.
BTW, remember, just being the devil's advocate.
 

Seachange

Member
Jan 13, 2004
222
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www.Banker-Trust.com
So lets see if I got this straight.
  • You are inducing people to hide assets they don't want to report in your safe deposit boxes.
  • If the assets were to be pilfered, you say their recourse is to try to collect from their homeowner's policy (for an asset they never admitted having).
  • One certainly wouldn't report a theft to police for assets one is hiding.
I must congratulate you, you have concocted the plan for the perfect crime. Just have to decide what day is the day to lock the doors.
BTW, remember, just being the devil's advocate.

Asset protection is not a crime, nor is having financial privacy.

Clients may use our safe deposit boxes for a number of reasons: Protection from federal tax liens, state tax liens, alimony, child support, mechanics liens, bankruptcy, civil judgements, as well as other creditors.

Due to the lottery style court cases and judgments that exist today, a well drafted asset protection plan can go a long way in deterring a creditor. If you can avoid the appearance of being the “deep pocket” then you can frequently be passed over and the creditor will look to someone else. In fact deterrence is a major part of asset protection and Banker Trust can be used to serve this purpose. The plaintiff is generally unwilling to mount countless attacks against a defendant who has a well established asset protection plan. Judgment creditors are cost conscious and if the efforts to collect are just too difficult, then that creditor is likely to settle for far less than the amount of the judgment or move on to easier pray.

A homeowner's policy is the standard way to protect the contents of a safe deposit box. There are riders in policies which spell this out. Identifying the contents of a safe deposit box on your homeowner's policy is not public information, unless you make it so.
 
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