Also if you have monthly utilities bills & can't pay them in person while traveling outside of the country with a foreign debit/cc card you’re paying a specific exchange rate which will most likely be much lower
I’f you stay for a short periods of time it’s not a necessity bit more convenient to have a DR account for misc. purchases/transfers to family or friends. Living in DR imo it’s basically a must for bill payment & regular day by day transactions.
I’ve had no issues with BHD & use it mostly to pay bills & groceries. Adding bill pay recipients is a breeze via their mobile app and really convenient
For those transactions the only option both my & sellers attorneys gave me was to wire funds which made sense. I mentioned issuing a check & they shut me down immediately. Besides DR does some sorta background check & paperwork which has to be filled out to prove funds are legit to avoid legal...
Ez lack of research & knowledge ..besides wires were for a substantial amount well over $200k for investment purchases. So in that case those transactions made sense
Thank you! listening to my dads didn't help me out. Asked him few yrs back regarding check deposits into a dollar acct & he told me it’s not possible so I used bank wires or app transfers every so often.
Thank you never made an attempt nor researched that as a possibility. I always assumed a US check couldn’t be deposited into a DR dollar account. Should’ve researched online or asked a DR bank associate tbh
That’s great. Haven’t found a means to transfer funds without exchanging to pesos in DR. In my experiences dollar to dollar acct transfers have always incurred fees
For example atm flexienvios exchange rate is at $60.49 & Remitly $58.84. BHD transfer via flex no fee & Remitly $2.99 ..can’t speak for other providers haven’t checked them out
Was frequently using Remitly for years til I found out about flexienvios & no plans of using other fund transfer apps. The exchange rate is much higher & since I’ve signed up last month haven’t had to pay a single transfer fee. Signed up & disclaimer mentions the first 3 transfer fees are waived...