In some posts, I have noticed comments about doing a wire transfer of more than $10,000 to a DR bank account.
I am about to sell some shares and want to wire about $25,000 USD into a DR bank account at Asociacion Popular in order to purchase different things.
Is there anything I should be worried about with doing a wire transfer of $25,000? I have not done a wire transfer into the DR before of any amount.
Should I do three transfers so they are each under $10,000?
I understand from reading here that the bank will send a report to someone (Central Bank??) if the wire transfer is over $10,000. What does that mean? How does it effect me?
Or what is the best way to do the wire transfer, because I would not want the money to be held at the bank?
Thanks for any advice.
I am about to sell some shares and want to wire about $25,000 USD into a DR bank account at Asociacion Popular in order to purchase different things.
Is there anything I should be worried about with doing a wire transfer of $25,000? I have not done a wire transfer into the DR before of any amount.
Should I do three transfers so they are each under $10,000?
I understand from reading here that the bank will send a report to someone (Central Bank??) if the wire transfer is over $10,000. What does that mean? How does it effect me?
Or what is the best way to do the wire transfer, because I would not want the money to be held at the bank?
Thanks for any advice.