Results 1 to 8 of 8

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

  1. #1
    Silver
    Join Date
    Mar 2006
    Posts
    3,081
    Post Thanks / Like

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

    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.

  2. #2
    Platinum
    Join Date
    Apr 2005
    Posts
    11,042
    Post Thanks / Like

    Default

    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.

  3. #3
    Bronze
    Join Date
    Mar 2009
    Posts
    935
    Post Thanks / Like

    Default

    Cool beans, so long western union.

  4. #4
    Moderator
    Join Date
    Jan 2002
    Posts
    18,089
    Post Thanks / Like

    Default

    Inquiring minds would like to know:BOFI = ????

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

    HB

  5. #5
    Platinum
    Join Date
    Jul 2007
    Posts
    16,581
    Post Thanks / Like

    Default

    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.

  6. #6
    Bronze
    Join Date
    Jun 2006
    Posts
    1,753
    Post Thanks / Like

    Default

    Never had a problem using the BoA ATMs with ScotiaBank, no fees, anywhere in the DR. Purchases on ATM card same thing, zero problems.

  7. #7
    Regular
    Join Date
    Apr 2006
    Posts
    457
    Post Thanks / Like

    Default

    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.

  8. #8
    Regular
    Join Date
    Jan 2010
    Posts
    26
    Post Thanks / Like

    Default 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.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •