- Thread starter amparocorp
- Start date
xoom caribe express warning
I use "Xoom", have for years.
I can even send money from my US accounts to myself here in SD.
Never had any problems, none!
I send to Banco BHD, cause there is a branch near my house.
If you have a Dominican Bank acct. it is 4 or 5 dollars.
If you don't it is still a lot cheaper than Western Union.
Caribe Tours never appealed to me.
Their bus stations are chaotic.
And count your money, and your fingers if you change money there.
CCCCCCCCCCCCCCCC
I can even send money from my US accounts to myself here in SD.
Never had any problems, none!
I send to Banco BHD, cause there is a branch near my house.
If you have a Dominican Bank acct. it is 4 or 5 dollars.
If you don't it is still a lot cheaper than Western Union.
Caribe Tours never appealed to me.
Their bus stations are chaotic.
And count your money, and your fingers if you change money there.
CCCCCCCCCCCCCCCC
I am from Ireland so for Europeans it is much simpler to apply for an online Visa/Mastercard Debit Card, there are loads of providers. Give a card to your Dominican partner/wife etc and you can transfer funds instantly for free via the net 24hours per day.
debit cards usually have a daily limit.
In the DR, they are often "cloned".
Mine was used in NYC, while I was here in the DR.
I never used it anywhere but here.
And giving it to a "Dominican partner/wife,etc. is probably WORSE than it being cloned!!!
The bottom line is, it all depends on your needs.
The "BEST", I have found over 26 years is, get a relationship with a reputable "Exchange House".
I have been using the same one for 26 years.
You will be able to cash your personal checks, from your home country bank.
If I want US dollars, I get them at 1 to 1 with my check.
If I want pesos, I get the going rate.
CCCCCCCCCCCCCCCC
In the DR, they are often "cloned".
Mine was used in NYC, while I was here in the DR.
I never used it anywhere but here.
And giving it to a "Dominican partner/wife,etc. is probably WORSE than it being cloned!!!
The bottom line is, it all depends on your needs.
The "BEST", I have found over 26 years is, get a relationship with a reputable "Exchange House".
I have been using the same one for 26 years.
You will be able to cash your personal checks, from your home country bank.
If I want US dollars, I get them at 1 to 1 with my check.
If I want pesos, I get the going rate.
CCCCCCCCCCCCCCCC
Last edited:
Absolutely, you just need to be "introduced" by a local/client.
They need to trust you, VS. the other way around.:classic:
"YES!"
I think that the problem seems to be with "Caribe", and not with ZOOM!
They seem to be using your remittance as a loan for a few days.
Send it to one of Xoom's partner banks here in the DR.
Get an account at the nearest bank, you only pay a few dollars per transaction that way.
My money is always there within an hour.
I like "XOOM"!!!!!!!!!!!!!!!!
CC
I think that the problem seems to be with "Caribe", and not with ZOOM!
They seem to be using your remittance as a loan for a few days.
Send it to one of Xoom's partner banks here in the DR.
Get an account at the nearest bank, you only pay a few dollars per transaction that way.
My money is always there within an hour.
I like "XOOM"!!!!!!!!!!!!!!!!
CC
Companies like Xoom and Paypal make the bulk of their money from the huge revolving pile of customer money they invest in mutual funds. The more they delay moving money in either direction, the more money they make. I tried using Xoom once for the D.R. and concluded that they did not have the bank agreements that they claimed to. Meanwhile, they got to add my money to their revolving fund for five days.
Wells Fargo has a program they don't advertise that's an economical alternative to services like Xoom, typically five or six USD per transfer. A lot of their clients where I'm from are minor league peloteros.
I was going to use xoom to send some money to a DR1er to buy a gift for someone, and she told me not to, because she never received the last xoom payment someone sent her - despite receiving a confirming e-mail.
There exchange rate seems to be pretty lousy:
Guaranteed exchange rate* 1 USD = 38.7233 DOP compared to 39.95 in BP today...
@CC:
Did you use their Bank transfer option? If so is the money at 10 AM paid (when transferred before 9 AM) into ones account like they say?
Guaranteed exchange rate* 1 USD = 38.7233 DOP compared to 39.95 in BP today...
@CC:
Did you use their Bank transfer option? If so is the money at 10 AM paid (when transferred before 9 AM) into ones account like they say?
They make their money on "Fees", and the xchange rate, in partnership with the bank. (Which they fully disclose),Therefore, their rate is less.
To get that rate at "BP" I believe you must change US $ in cash,right?
I use the "Cash Check at Exchange House" for about 90% of the money I bring to the DR.
"Xoom" is great when you need up to 3,000 US in an hour. You pay for that convenience.
Until I have a problem with "Xoom", I will endorse their service 100%
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
To get that rate at "BP" I believe you must change US $ in cash,right?
I use the "Cash Check at Exchange House" for about 90% of the money I bring to the DR.
"Xoom" is great when you need up to 3,000 US in an hour. You pay for that convenience.
Until I have a problem with "Xoom", I will endorse their service 100%
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
Yes, but taken into account the difference in the exchange rate Xoom ends up to be the more expensive one...
Last week my WT was at 39.85 for the Dollar, Xoom is 1.13 less so at a 1000 US we talk about 1130 RD$ + their fee.
OK it is minimal and the advantage is Xoom is fast. Question is if the receiving Bank plays along and credits the amount to ones account right away after Xoom did the payment...
I will also vouch for Xoom as I've been using them for a long time and the only issue have been with Caribe Express or BHD (Dominican partner) which I know how to get addressed immediately nowadays by calling the main office. In terms of the exchange rate you should not send money in Dominican pesos as any outfit will give you a crappy rate. The best thing to do is send them in USD with home delivery and then when the guy shows up he will exchange it for you at the current or even better rate sometimes. Also if you can link up your bank account use that as it will be a whole lot cheaper and after the first transfer they will all go just as fast as using a credit card.