However, the fees are truly ridiculous*, and they will only offer it to customers who have long standing relationships with the bank (i.e. ones they can see are turning a whole heap of money through their accounts).

That sucks in a major way man. Thanks for the info. though. I doubt it would be cheaper than the wire transfers bank and forth, but I'll look into it.

I don't see why they would only offer it to clients with long-standing relationships though. Don't they want new customers? But then again, they can barely handle the ones they've got now. I'm still waiting on them to return my calls.

Oh well, we're only 10 years behind the rest of the world.... plenty time to catch up. <sigh>

No, there's not alot of time at all really, it's sad; cause the whole world, not to mention the Caribbean is passing us by . . . and fast. Does anyone know if Jamaicans can open online websites/accounts? What about Barbadians and Caymans themselves? Everybody's getting their online dreams off da ground but here. :(

That sucks in a major way man. Thanks for the info. though. I doubt it would be cheaper than the wire transfers bank and forth, but I'll look into it.
I don't see why they would only offer it to clients with long-standing relationships though. Don't they want new customers? But then again, they can barely handle the ones they've got now. I'm still waiting on them to return my calls.
No, there's not alot of time at all really, it's sad; cause the whole world, not to mention the Caribbean is passing us by . . . and fast. Does anyone know if Jamaicans can open online websites/accounts? What about Barbadians and Caymans themselves? Everybody's getting their online dreams off da ground but here. :(
Well ANtigua mek nuff money offa de online gambling ting, yah zimme and when unkle sam n dem farigner dem a check it, n true it a dem who neva a mek money bag offa de ting deh, dem shut it down. It a seem like dem a dat crazy boyfriend a who kill offa gyal n a say if me neva a haff it no one else a have it

Does anyone know if Jamaicans can open online websites/accounts? What about Barbadians and Caymans themselves? Everybody's getting their online dreams off da ground but here. :(

99% of the major online processors (Paypal, Verisign, Worldpay, etc) will happily do business with Jamaican businesses and individuals - anyone with a bank account and valid ID.

They all used to deal with the Bahamas but won't now due to changes in the requirements of Mastercard and Visa.

They *could* technically work with us to sort it out - its all fairly trivial, but as the Bahamas' entire population is barely larger than that of a small village elsewhere in the world, we're really of little consequence to anyone outside the country.

So that leaves domestic banks. Unfortunately, having spoken to most of them repeatedly over the past 7 years, they are all either too greedy or too backwards to ever grasp the potential or e-commerce.

C'est la vie. Those in the online business just find workarounds and go about their business.

They all used to deal with the Bahamas but won't now due to changes in the requirements of Mastercard and Visa.

Is it a money-laundering thing?

So that leaves domestic banks. Unfortunately, having spoken to most of them repeatedly over the past 7 years, they are all either too greedy or too backwards to ever grasp the potential or e-commerce.

Yep, all I'm getting from them is :realmad:
How am I supposed to get rich, if I can't do business? And they don't want Bah citizens to have US bank accounts, and when people complain about the high costs of doing business here, all I can do is shake my head.

Is it a money-laundering thing?
Not really, they have requirements that the company providing the service (i.e. Worldpay, authorize.net) need a presence in any country they deal with (not just a bank who works with them, their own presence)

Which brings us back to the Bahamas being too small to bother with. No real rush to set up shop here for such a small place.

How am I supposed to get rich, if I can't do business? And they don't want Bah citizens to have US bank accounts, and when people complain about the high costs of doing business here, all I can do is shake my head.

THis is exactly what is wrong with the Bahamas. The only way that you can get rich is running square grouper.

*They are using a company that deals with businesses in the US, CA and EU looking specifically for offshore merchant accounts to avoid their own country's tax laws, thus willing to pay a high premium for the service. Trying to charge these same ultra high fees to a domestic market is numbingly dumb. RBC appears unable to grasp this.

Just how expensive is expensive? How much should something like this cost?

Everybody's getting their online dreams off da ground but here. :(Not true. The people who are serious about getting it done are getting it done.

In short, my basic message is: Screw those here in this country who are taking a year and a century to put the financial infrastructure in place that will get this country on par with the rest of the world technologically.

The fact of the matter is that in order to survive on the internet, your business has to become multinational.

Don't waste time asking about what needs to be done here. Just do it. That's how certain individuals have become millionaires in a very short period of time. Our legislation is lacking in certain areas, so use that to your advantage. Do your research, use the loopholes, and fly under the radar.

If making money on the web was easy, everyone would be doing it.

THis is exactly what is wrong with the Bahamas. The only way that you can get rich is running square grouper.Or running a web shop.

Don't waste time asking about what needs to be done here. Just do it.

Words to live by. I'm looking for an alternative as we speak (rather, as I type).

The only way that you can get rich is running square grouper.

Square grouper - that's a good code name. I like it.

Not true. The people who are serious about getting it done are getting it done. Do your research, use the loopholes, and fly under the radar.

It's difficult to fly under the radar though when the Central Bank wants to breathe down your neck about receiving 'foreign' funds. :( (But, I'm working on that too.)

It's difficult to fly under the radar though when the Central Bank wants to breathe down your neck about receiving 'foreign' funds. :( (But, I'm working on that too.)See. That's our problem right there. Central Bank wants to breathe down a Bahamian's neck for a couple of dollars, yet at the same time we have foreign persons moving millions of dollars through this nation with ease.

The answer?

Get a foreign partner to do everything...legally, that is. I think I said it earlier in this thread, "If making money was simple and easy, everyone would be doing it".

The average person gets discouraged and claims it can't be done. Someone who is above the norm simply would find a way to get it done.

Yorick, don't let the cat out da bag man. :taped2: :angel:

Yorick, don't let the cat out da bag man. :taped2: :angel:
Not like dude posted his business plan online.

Yorick, don't let the cat out da bag man. :taped2: :angel:
One thing that I've learned since I've been home:

Most Bahamians can be given a business plan or idea IN FULL and we STILL won't get it right or will find some excuse to say it doesn't work!

What I detailed in this thread is one way that e-commerce business is being done right now in this Bahamaland. There are several others.

Right now I'm looking for apartments in the US and Japan. I am going stir crazy in this little town and a few of my concepts have not been as successful as they should be - I need to expose them in an environment that is technologically superior to what is presently in The Bahamas. Plus, I'm tired of hearing excuses and BS opinions.

Time to fully subsidize my local income with a global source.