I've got both a US Dollar and Dominican Peso savings account at Banco Popular. I asked if they offered a checking account in US Dollars and they said no. Is this a normal thing or do other banks offer them?
One of my brothers-in-law is sitting next to me, visiting us from SD, a long time BHD executive. He tells me there are no US dollar checking accounts in DR for anyone, not for Dominicans either.
I thought there were because I know my family has received checks from them for different events [weddings, births, etc], but apparently they were from banks in Puerto Rico.
AE
Need advice. I have a popular account in pesos. I am making a purchase in the USA and have decided I want to use this DR Peso account to make payment. My question is, what are the associated costs of sending a bank wire (I assume is possible from peso account)? obviously I will be hit with a currency conversion in this transaction, but I imagine I can can just wire the equivalent in pesos and it will convert on beneficiary end. The purchase will be in the 5k area. I appreciate any feedback from those who have certain knowledge or experience doing sucg transaction. btw. I am set on using this peso account so that part is not the question.
Don't know what bank your using but when I done this from BHD was a 50us surcharge(in pesos), transfer the equivalent amount of pesos here, and the dollar amount conversion in the us.
You keep referring to a 5k transfer. Is that US$5,000 or RD$5,000? If it is RD, then a wire transfer is going to be cost prohibitive.Thanks bienamor. Im using Popular. Is the 50usd surcharge a set rate irregardless of the amount? Im looking at a 5k transfer, is this the same neighbourhood of your transaction?