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Thread: Bank Transfers from overseas

  1. #1
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    Default Bank Transfers from overseas

    I bank with Banco Popular and have been for many years . I am well known to them and for many years my transfers from England and Australia , where I have bank accounts, have gone smoothly and quite quickly . However my last four transfers were held up by Banco Popular for between 8 to 10 days. No reason is ever given although the bank has my tax details abroad and know the source of my money.
    I am wondering if others have been experiencing these delays. I do not know if Banco Popular are just using my money or if they have some other reason . Maybe someone knows if Scotia Bank, which is an international bank,processes these transfers quicker. Also,is there any risk with Banco Popular somehow trying to appropriate my funds ?? I might add that my transfers to various family members living elsewhere in the world are processed within 12 hours.

  2. #2
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    Most likely clipping off every second of interest they can. As you know, electronic transfers are instantaneous.

    8 to 10 days is a fiasco. The problem is that you have zero recourse. Appropriating your funds? Highly dubious but I dont doubt anything anymore.

    This most likely tells you what you already know. Sorry, I do not have first hand experience with your issue in the DR.

  3. #3
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    My Progreso wire arrivals go through (not from) NYC and are usually in the account the next day... one more at worst

    When I used ScotiaBank, it was the same

  4. #4
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    I used Scotia bank years ago for bank wires from overseas. Quit after the second one. They want a blood test to complete the transfer...........................

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    Scotia Bank DR is not connected to Scotia Bank, it is a franchise kind of I was told, so careful.

    I am with BPD too and use now PayPal to BPD which takes 4 days every time. I did use wire transfer before but I could never be sure when the mony would arrive at my BPD account. Always between 5 and 8 days...

    Fed up with that I opened an account "de nomina" at BHD and international transfers from the US initiated Tuesday evening are in the account the next day at 10 AM latest.

  6. #6
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    ScotiaBank...
    not a franchise , just a different corporation in the global family.

    One of the oldest banks in the Caribbean .....

    Same global entity but not connected directly... no overlap facility

    TD in the USA is the same... Cdn owned but no overlapping.
    No account blending.

    With each TD & Scotia - you are a completely new applicant ...
    I had my Cdn Scotia reference.... did zip, zero, zilch for me.

  7. Likes caribmike, cbmitch9 liked this post
  8. #7
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    are the wires above 10k equivalent in Usd? 

    I do a wire monthly and always have it the same day or if it's a bit late in the afternoon the next day. However once I did a wire over 10k and it took them a week.

    On another note, (but off topic) within the context of the new money laundering law, I heard that  starting next year the banking secret in DR will disappear. 

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    I will open an account with Scotia Bank and try a smallish transfer and see how it goes and report here.

  10. #9
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    Although Scotiabank in DR is not connected to Canada although part of the global corporation, you can withdraw from your Canadian Scotiabank account at a Scotiabank DR atm without a fee. That part is good.

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  12. #10
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    Agree with SKY... Got the third degree & we had to pull teeth to get the funds... Scotia wanted to know where the $$ came from, how much more was there where it came from (they blatantly asked/unbelievable!), how often there would be wires & how we would use the funds here in country + it took more than 10 days to get the funds.. Super bad experience!

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