I have searched the forums and found some good information, but I am still a little confused because nothing was exactly like my situation.
I am moving to the DR in August and will be paid in pesos by direct deposit, although I am not sure yet which bank in the DR my employer uses.
I will need some of that money to pay some stuff back in the USA while I am in the DR. I was planning on transferring some of the pesos from my bank in the DR to my bank in the USA. Is this a relatively easy process? I am concerned since my account in the DR will be in pesos. Will I encounter problems trying to transfer pesos in the DR to USD in the USA?
Also, the bank I currently use in the USA is Wachovia, but if there is a bank that is better for international transfers, please let me know. How much are the fees generally. I'm thinking I will be transferring around at most $200 USD per month (well whatever $200 USD is in pesos at the time).
I have no experience with this situation and little experience with banking outside of a general checking account so any advice will be greatly appreciated!
I am moving to the DR in August and will be paid in pesos by direct deposit, although I am not sure yet which bank in the DR my employer uses.
I will need some of that money to pay some stuff back in the USA while I am in the DR. I was planning on transferring some of the pesos from my bank in the DR to my bank in the USA. Is this a relatively easy process? I am concerned since my account in the DR will be in pesos. Will I encounter problems trying to transfer pesos in the DR to USD in the USA?
Also, the bank I currently use in the USA is Wachovia, but if there is a bank that is better for international transfers, please let me know. How much are the fees generally. I'm thinking I will be transferring around at most $200 USD per month (well whatever $200 USD is in pesos at the time).
I have no experience with this situation and little experience with banking outside of a general checking account so any advice will be greatly appreciated!