Results of sending money to DR through Bank of America\Scotiabank alliance.

ExtremeR

Silver
Mar 22, 2006
3,078
328
0
As have been discussed in previous threads about the different options on how to send money to the DR, I tried the Bank of America VISA debit card\withdraw in Scotiabank in the DR method, and will post the results here.

I went to the local Bank of America here in Las Vegas, opened a new account and ordered two VISA debit cards, one for me and one for my wife. After I got the cards by mail, I activated the one on my name and sent it to the DR and kept my wife's one just in case I want to withdraw money back from the account. My mother picked up the card over there and I told her the PIN number by phone.

For testing purpose I decided to deposit US$600.00 in the account here in BoA and told my mother to just withdraw RD$10,000.00 to see if they will charge me any fees or rip me off with the exchange rate. She proceeded with the transaction and got her money alright, called me to let me know and I then checked the account balance.

To my surprise they just debited US$278.16 with no extra fees of any sort and the amount was converted to pesos with today's exchange rate of 35.95 as shown in the webpage of El Banco Popular and BHD.

So in the end I have found out this is the cheapest way to send money to the DR and add to that that BoA has a US$700 daily withdrawal limit, so you can withdraw RD$20,000 every day without any problem at all. Also I advised my mother to only withdraw the money in a big branch in business hours just in case the ATM machine decides the BoA card has a good taste and keep it, that way she just has to walk inside and ask anybody there to please return her the card.

I just thought I'll share this with you guys. All the credit goes to Tamborista who gave me the idea in the first place.
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
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Glad that worked out for you, make sure you notify B of A you are using the card in RD, or it tends to get shut down to prevent fraudulant use.
 
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Hillbilly

Moderator
Jan 1, 2002
18,948
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Inquiring minds would like to know:BOFI = ????

thanks, I think this will help a lot of people..

HB
 

Chip

Platinum
Jul 25, 2007
16,772
429
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Santiago
I did this for a couple of years heres in the DR as I already had a BOA account. It works just like you posted. However, I did have my card cloned more than likely at the Scotiabank atm. Fortunately, all monies were returned.

Currently, I just cash a check from a US bank at a local cambio whenever I need money.
 

tflea

Bronze
Jun 11, 2006
1,839
164
63
Never had a problem using the BoA ATMs with ScotiaBank, no fees, anywhere in the DR. Purchases on ATM card same thing, zero problems.
 

Spicedwine

New member
Apr 25, 2006
568
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We have been telling people this for quite a while. It's especially good if you have a low-fee Scotiabank account in Canada. For $7 CAD per month - no charge for ATM in both the DR and any BOA in USA. And very good peso conversion rate.
 

buggabagang

Member
Jan 5, 2010
30
4
8
how about sending money to a "House Sitter"

Hi Group...I read your posting every once in a while and this is my first...

I have a house in the DR with a "Live In" housekeeper / gardener.
I don't live in the house all year long and am looking for a good way to provide money to this person while I am not in the area. Wonder if this way is a good idea? Any thoughts or suggestions? I usually rely on a friend to hold money and pass along however want something that is more reliable.