International wire transfer.

ando1991

ando1991

Active member
Dec 5, 2016
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Hola,

When making a wire transfer from a U.S. bank to Bhd or any Dominican bank, how many days does it take for the account to recieve the money?

The first time I wire transferred money, it took about 4 days. The second time, the money has not been recieved yet and it has been 8 business days. I tranferred to the same account.

Thanks
 
rogerjac

rogerjac

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Feb 9, 2012
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last time I did a wire transfer from canada I had problems. I went to my branch here and they tell me the funds are on hold until I can show proof of where the money came from. Screen shots of my account for 6 months, copies of transfer receipts between accounts. A total pain in the ash. It was finally released after about a week and a half.
 
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ando1991

ando1991

Active member
Dec 5, 2016
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Bhd has no record of transfer or anything pending. Supposedly no blocks or anything like that. Very frustrating....
 
K

Kipling333

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Jan 12, 2010
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rogerjac said:
last time I did a wire transfer from canada I had problems. I went to my branch here and they tell me the funds are on hold until I can show proof of where the money came from. Screen shots of my account for 6 months, copies of transfer receipts between accounts. A total pain in the ash. It was finally released after about a week and a half.
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That is the normal practice these days , especially if the name of the sender and the name of the receiver are not exactly the same . The banks here in the DR are supposed to make certain that the funds sent to the DR were from clean sources such as salaries or dividends and so on . I am afraid that is yet another frustration living here. As a matter of interest , I send money every December to various friends in Thailand, India and the UK who have limited financial resources and the money is transferred in a matter of hours. Even more frustrating is the random way these checks are made and the time a Bank HO here takes to clear the funds.
 
J

johne

Silver
Jun 28, 2003
7,594
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Bank of America to Banco Lopez = less than 4 hours. In dollars. Not on hold for one minute.Confirmation of transfer given to me by a phone call. Not all wire transfers follow "normal practice" as noted in post #4 above.
 
CristoRey

CristoRey

Welcome To Wonderland
Apr 1, 2014
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ando1991 said:
Hola,

When making a wire transfer from a U.S. bank to Bhd or any Dominican bank, how many days does it take for the account to recieve the money?

The first time I wire transferred money, it took about 4 days. The second time, the money has not been recieved yet and it has been 8 business days. I tranferred to the same account.

Thanks
Click to expand...
www.remitly.com is a good way to send money fast, cheap and within the hour if you are willing to pick up in pesos.
If you set up the account in the USA or Canada you can use it to send yourself money to the Dominican Republic. Also works well if sending money down here to friends or family members. A lot less hassle than dealing with bank idiots and there never ending list of bs "requirements"
 
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bob saunders

bob saunders

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Jan 1, 2002
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dr1.com
I think the biggest issue is when the amount is more than 10,000 $US. I send myself $2000-2500 at a time from my RBC acct in Canada and it is usually 3 days before it is posted in my BHD acct. sometimes 2 and sometimes 4 but normal 3 days.
 
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C

cavok

Silver
Jun 16, 2014
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Cabarete
I've wired money many times from my Ameritrade account and it's usually in my Banco Santa Cruz account the next day.
 
L

LindseyKaufman

Silver
Aug 21, 2007
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Jamao al Norte
The secret - as Bob says- is to send less than $10,000 USD and to be able to prove where the funds came from - like your bank account.

We- at times- have a large donor- and I always send the bank notice that the funds are coming and where they will come from. Most times, no problem. When I have had problems is when the sender did not do the remittance correctly with the intermediary bank.
 
chico bill

chico bill

Silver
May 6, 2016
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My last transfer from Schwab to Banco Santa Cruz was one day.
When DR finally gets into the 20th century on banking maybe they will join Zelle. Free money transfers between banks in minutes.
 
J

johne

Silver
Jun 28, 2003
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chico bill said:
My last transfer from Schwab to Banco Santa Cruz was one day.
When DR finally gets into the 20th century on banking maybe they will join Zelle. Free money transfers between banks in minutes.
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Zelle with restrictions on amounts to be sent.
Wire transfers--No restrictions.
Zelle is great but not the end all of financial matters.
 
U

Unit5

Active member
Jun 3, 2022
149
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28
Ontario, Canada
bob saunders said:
I think the biggest issue is when the amount is more than 10,000 $US. I send myself $2000-2500 at a time from my RBC acct in Canada and it is usually 3 days before it is posted in my BHD acct. sometimes 2 and sometimes 4 but normal 3 days.
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Bob, what is the full name of the BHD bank? Also, how much are the fees? For example if you sent yourself $2000 (= approx 81000 pesos; as of now) - what is the final amount in BHD account?
 
R

rey

Active member
Jan 2, 2007
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Side question :

Any bank able to receive direct to deposit ?

My VA job ( remote customer service ) that I will be doing part time for an extra income while living DR only pays via direct deposit ; the problem is that in the USA all direct deposit it’s done by providing a USA 🇺🇸 BANK ROUTING plus ACCOUNT NUMBER which in DR am not even sure they have routing numbers ….

Anyways to make the long question Short : HAS anyone ever had direct deposit Payments or US benefits payments receive to a Dominican bank ?


Thanks
 
NanSanPedro

NanSanPedro

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Apr 12, 2019
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yeshaiticanprogram.com
rey said:
Excellent advised
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It will be difficult to open a bank account in the DR if you wait more than 30 days after your arrival. Even then, I suspect you will have to jump thru many hoops to get it done.

I've been here over 4 years without the need of a DR bank. Between ATMs, Caribe Express, and Western Union, I've never had a shortage of cash. I also buy with credit cards when I can.
 
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