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Thread: Bank Transfers from overseas

  1. #21
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    Quote Originally Posted by Robert View Post
    That's why you need to make sure your friend at the bank is not in the "most" category

    Most people I have dealt with at Banco Popular on Churchill are light years ahead of a food cart vendor.
    I deal with the folks at the Itabo branch, and they bend over backwards to keep me happy.

    They have also won the "Best Customer Service Award of the Year" of all of the BPD branches more than a couple of years.

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  3. #22
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    Quote Originally Posted by Kipling333 View Post
    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.
    Your $10K+ transfers are held for longer time while supposedly the bank people are checking if the money is legit. The interest earned is a nice side benefit (to the bank). Its been debated before, there is no magic solution. If you need to deal with this hassle on a regular basis, I'd find a reliable counterparty, like a lawyer firm, with offices in both your country and DR, - then you can replace 1 international transfer with 2 local ones. As to the risk of appropriating your funds during the SWIFT transfer, I think it's negligible: in the worst case your funds are automatically returned to your origin account after 30 days if there is a problem with the transfer or the destination bank can't confirm the transaction. 

  4. #23
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    Once it happened to me that the account manager mailed my wife about an incoming transfer above 10k. The email arrived in soambox and it took me a while to realize that. Normally my wires are below 10k , last wire was last Friday afternoon at 3 pm (from BofA) and was in my account at BPD Saturday morning at 8.00 am. 

  5. #24
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    Wired money yesterday and it arrived 
    at Progreso today....

    The past two times it has arrived next day instead of two days.

  6. #25
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    Can you please tell me if the amount was under $10,000 . I have a further problem now in that the bank refuses to issue Certificates of Deposit to two of my caddies because they are not paid wages by a company . I am gradually giving money before I die to various low income people who have helped me in my life here .Banco Popular says they will only issue certificates to people with a wage or salary. I think this is a total misinterpretation of the new law which that with capital purchases. the buyer must show where the money comes from.. In this case is easy ,from me .

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  8. #26
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    Yes it was under $10,000- five to be precise.

    There must be a way around that problem.... could a lawyer help.... hold the money ? In trust for them

  9. #27
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    I have a meeting with Scotia Bank tomorrow afternoon ; then I will see if Banco Popular is going over the top or if Scotia Bank will be more sensible . When the money trail clearly shows that I am gifting the money to various people from my dividends gained abroad, then it clearly is not money laundering

  10. #28
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    You might be able to set it up in another country - if you wish.

    Payable when you choose... to whom you choose....

    All part of your estate - I assume.... direct the lawyer....
    or establish a trust to fund quarterly/annual payments to the beneficiaries until your death or date of your choice

  11. #29
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    I had exactly this problem today. I sent over US$ 20,000 from the UK to my Popular dollar account, my account manager knew about it before it was sent and I had the evidence with her before it arrived. Popular received the money on September 20th and only after calling 9 times today and finally going to the bank was the money cleared, 8 days later. I went to Progreso today and they said that if I send money from the UK, my account manager will clear it the same day or the day after it is received in the country. So I think this is all to do with Banco Popular. I'm going to send another transfer soon, so I will send it via Progreso to see how quickly it arrives.

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  13. #30
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    Related to the wire transfer but not how long it takes...
    If I send $ from a Scotia Canadian Bank account via Toronto to my RD SB account in Cabarete... Is there any way to find out what exchange rate is used in Toronto and/or what tax is charged when it arrives in RD? I understand I can guess it .. how much I send VS how much I receive but I am curious who is making the most money here?

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