Sending and receiving money: SD - Scandinavia

mariel

Dominisueca
Apr 7, 2004
514
6
0
Hello everyone,

A few years ago I asked about the best/cheapest way for me to send money to SD and it was suggested that I try a combination of Paypal/Xoom. Over the years I have been unsuccessful and I have relocated as well.

Now the need is to send money to SD as well as to receive money in Scandinavia. I thought of bank transfer but my mom was informed that a bank transfer SD - Scandinavia not only will take 3-5 bank days but that it won't be a direct transfer, and that the money will have to transit thru several banks, paying fees in each transit point. I don't know if this is true and I currently wait for a response from my bank. As far as I know, there's no partnerships or cooperations between banks in RD and Scandinavia.

If I manage to open a Dominican Paypal account, how can my family receive the money since they don't have a US bank account? If the combination Paypal/Xoom is still good, should I use a Scandinavian Paypal acct to transfer to Xoom?

Or is there any other way to do this? Western Union is what we have used, since we transfer money only once a year and it's never a big sum - but the fees are outrageous.

Thank you in advance.
 

kimbjorkland

New member
Apr 6, 2011
404
0
0
It may be that your bank in Scandanavia is not big enough?
There is nothing wrong with having 'routing' banks along the way during a bank wire, and they should definitely not each be charging you something along the way.

Try different permutations and combinations of banks. For example go to bnk 1 in your home country and ask which banks in DR they can wire money to, and how many 'hops' it would take. most will probably route through mellon in NYC, which is no big deal...
 

frank12

Gold
Sep 6, 2011
11,847
29
48
Mariel,

i don't know if this will help but, i have a Nordea account in Norway; i also have my Nordea card here with me in the DR. whenever i need money, i just ask someone back in norway to put money into my Nordea account and then i go to any ATM and pull the money out. if it's a large sum, i simply walk into the bank with my passport and Nordea card and take it out from the teller. i think you can take out $100,000 pesos at a time--every 24 hours or something like that. if there is someone who lives here or visiting here from your same country, you can simply give them the money in pesos and ask them to transfer money into your scandinavian account. i do this every once and a while if i need to pay some bills back in norway but i don't have enough money in my bank account in norway to cover the expense...i simply hand them the money in pesos and ask them to put the equivalant amount into my Norwegian account to pay, for example, my phone bill back in Norway.

Another thing i'll do when i need money in my norwegian account is this: if a norwegian is down here on vacation or studying, i'll inform them that whenever they need pesos, come to me and i'll give them the pesos if they put the same amount into my norwegiana account. that way they avoid the bank fees and i get some money into my account to pay bills in the future.

i don't know if this helps but, it avoids both bank fees and bank wiring/transfer fees!!!!

Frank
 

Chrismic

New member
Mar 28, 2008
149
16
0
My and Cuban ex wife, often send money to Cuba from Norway.
Her mother open a account in a Cuban bank, but it must always be a least 50 dollar all the time in this account.
With our Internet bank at DNB NOR we easy transfer money down to her mother Cuban bank account. And the fee are not to big and it takes only around two days before she has the money

I Believe Scottia bank is a Canadian bank, that has filial in many countries as in Dominican republic, so it should be easy to transfer money true them.

I can easy true Internet chat and contact costumer service at my Norwegian bank.. maybe you should try to contact your Scandinavian bank for help and information to solve your transfer problems .

If you open a INTERNET bank service with your Scandinavian bank , can you with a code brick from your bank , easy do all kind of bank transactions down here in DR, as in living in Scandinavia.
With a modern cellphone , that are connected to a Scandinavian cellphone company can you do all kind of bank transactions with your cellphone here in DR as you should lived in Scandinavia .

It is also possible to open a visa account in a Scandinavian bank and send the visa card down to DR, and set in or transfer money to the account when your family should need it, and they can take the money out in a ATM.
 

Chrismic

New member
Mar 28, 2008
149
16
0
Hey.

I am here in Sosua, Frank.
But used to live in Oslo
Just send you a private message..
 

mariel

Dominisueca
Apr 7, 2004
514
6
0
Hello everyone and happy 2012.

I wanted to come back when I have something concrete to say but...well, my mom was told by a Banco del Reservas representative that they have a list of European banks they have a cooperation of the sorts. She has yet to see the list or to get a name, and I was waiting for that to happen to post here. As soon as I received said list I will post it in case someone else needs help with something similar.

Thank you for your answers so far.