Cash Transfers from the US

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Chuck Riley.

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Oct 23, 2011
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Hi guys,

Its Chuck here. I got a question. Basically im trying to wire some money to someone in Sosua. She says Western Union is the quickest and easiest. How about Bank transfers? Anyone done it before to the local bank from the States and is it expensive or should I just send the money by Western union?

thanks

Chuck
 
AlterEgo

AlterEgo

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Chuck Riley. said:
Hi guys,

Its Chuck here. I got a question. Basically im trying to wire some money to someone in Sosua. She says Western Union is the quickest and easiest. How about Bank transfers? Anyone done it before to the local bank from the States and is it expensive or should I just send the money by Western union?

thanks

Chuck
Click to expand...

It depends on how much you're sending. Most banks in the US charge a flat fee for bank transfers, usually $40-$50, regardless of the $ amt. If it's thousands of dollars you're sending, it's good, if it's hundreds, not so good....

AE
 
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belgiank

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Jun 13, 2009
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Western Union is quite impressive, though not cheap. When my atm card got stolen, I blocked it and had my parents sent me some money from my Belgian account by Western Union. Less than 5 minutes after they had sent it, it was available here.

I was impressed, but as I said, it comes with a price...
 
Castellamonte

Castellamonte

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Many people here do not have bank accounts so a bank transfer isn't feasible for funds transfer. Western Union is highly reliable, even with their limits, and is accessible everywhere in the country. If you do not abuse it, its very reliable.

However, if one does have a bank account in the DR it only takes a few days for the funds to arrive here into the DR. I've wired money here to people and it arrives about 2 days after sending it from my Bank of America account. The fee is $45 for the international transfer so for pocket change it makes no sense.

That said, I've heard stories of wire transfers laying in limbo for day or weeks before being credited to an account. It's never happened to me but...that doesn't mean it hasn't happened. Check with the bank to determine what restrictions there may be due to the money laundering laws, which is the only reason I can determine it could happen.
 
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belgiank

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Jun 13, 2009
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Same experience here. Wiring money from Belgium to my banco popular account takes between 2 to 3 working days. Never had any problems, but never wire more than around 1,500 $. Price for that is around 12 $.

Once wired around 8,000 $, no problems, and it costed me 15 $.

I do know there are huge differences between the costs charged by banks. I have read somewhere here on DR1 that wiring from a certain bank in America to Scotia bank here is very cheap. Maybe someone can clarify this for the OP
 
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Chuck Riley.

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Oct 23, 2011
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Thanks

Thanks to all for your advice, much appreciated.

As its a small amount w u seems a sure bet

Best regards

Chuck
 
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rubio_higuey

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Feb 7, 2007
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If you are in the US and have a US bank account, you can use Western Union online and send up to 1000 US$ for a small fee of $10. It will be debited via electronic funds transfer from your bank account. it takes about 3 business days.
 
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beastwood

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Jun 30, 2011
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I use moneygram on a regular basis. Usually I am sending 50 to $400US. cost about $10 to 15 per transaction. It can be picked us at any banco poplular and many other locations regardless of bank account or not. Tranasfers take less than 2 minutes.

Westernunion works well also..I have heard less fees....have not confirmed this however. All nicely done online from the US and reciever has many options of where to pick up funds for both Moneygram and WU.
 
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SKY

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Apr 11, 2004
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The problem with Moneygram is they give you the cash in pesos at a bad rate.
 
Hillbilly

Hillbilly

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Jan 1, 2002
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Listen to what she says, after all she has been at this for some time. WU (Vimenca) is the best way to do this.

HB
 
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ExtremeR

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Mar 22, 2006
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I recommend Xoom, although WU is by far the fastest, money will be there 2 milliseconds after you post it, not cheap by any means. If I were you I would go with Xoom, send it early in the morning and it normally takes 4 hours for them to take the money to the receiver (delivery).
 
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Shiraz72

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Feb 10, 2010
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Like others have said it really depends on how much and how often you plan to send $. I have a bank account in Dominican Republic and it's more expensive and less reliable for me to transfer funds via the bank into my own account than it is to set up a money transfer via Western Union. It cost me about $22 and it took about 7 days with the bank vs $14 with Western Union and it was rec'd in minutes. You can get a VIP card from WU and they'll discount the fees you pay and give you little freebees from time to time like long distance calling cards etc....
 
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