- Thread starter nyc dad
- Start date
U.S personal check time frame to clear
I think it will be a long time.... better to 'cambio' it and deposit the cash
The closer the cambio to the banco, the better.
I just did that for $2,000 us..... instant cash in the account and no wire fees on either end...:lick:
The closer the cambio to the banco, the better.
I just did that for $2,000 us..... instant cash in the account and no wire fees on either end...:lick:
BHD took five weeks to clear a check we deposited in our dollars account. An online check with my US bank showed it cleared them in 3 days. Aggravating
This was last March
This was last March
Basically, you are making an unauthorized loan to the Dominican bank of your choice.
THEY determine to length of the loan,not you!
I cashed a 3,000 dollar check with my favorite "Casa de Cambio" this morning.
I got the money in my hand, and stopped at Banreservas to pay off my Banreservas Credit Card.
That way, the "Casa de Cambio" is giving you a loan!
Until the check clears your account.
Years ago it could take a week to clear my Boston bank.
Now 2 days tops.
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THEY determine to length of the loan,not you!
I cashed a 3,000 dollar check with my favorite "Casa de Cambio" this morning.
I got the money in my hand, and stopped at Banreservas to pay off my Banreservas Credit Card.
That way, the "Casa de Cambio" is giving you a loan!
Until the check clears your account.
Years ago it could take a week to clear my Boston bank.
Now 2 days tops.
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
Thanks everyone for the responses.Now CC as far as casa de cambio,don't you think that you become a bigger target? I mean people know you coming out of there with cash.I'm trying to be as discreet as possible.also you mentioned two days,so you give the cambio the U.S. check you comeback for the money in two day's time?
THEY, meaning "WHO"?????
I realize that's what the "Casas" do, but when the banks get your money from your USA account, they can sit on it as long as they want, before depositing in your account.
CC
I realize that's what the "Casas" do, but when the banks get your money from your USA account, they can sit on it as long as they want, before depositing in your account.
CC
Where are you and the check?
It took us many years to prove our relationship with a money changer. We can call and give him a check amount to be changed that is .. large for.... any amount with no delay or questions. He does like it when we call for the large amounts and always has it. He does this for our "friends" too based on a long and honest relationship.
Bring your check to me and you will have cash as fast as they can count it out. Rate is very good and the SERVICE outstanding. Never had a bad bill and never have had a problem. NO Bank needed.
I hand the "Casa my US dollar check, they give me US dollars, or pesos back.
Right then & there.
After that, I don't care how long it takes to clear my US bank account.
When I bought my house in SD, 15 years ago, I cashed on dollar check for $60,000 US, and later for $80,000 US.
Don't think I just walked in with my checks, and walked out with the pesos.
I already had an over 10 year track record with the owner.
I asked him how large of my pesonal check he would exchange, he said "$100,000 US".
And that was over 15 years ago.
I walked out with a "gym bag" full of pesos, which took Banreservas over 2 hours, with three tellers, to verify as legit!
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Right then & there.
After that, I don't care how long it takes to clear my US bank account.
When I bought my house in SD, 15 years ago, I cashed on dollar check for $60,000 US, and later for $80,000 US.
Don't think I just walked in with my checks, and walked out with the pesos.
I already had an over 10 year track record with the owner.
I asked him how large of my pesonal check he would exchange, he said "$100,000 US".
And that was over 15 years ago.
I walked out with a "gym bag" full of pesos, which took Banreservas over 2 hours, with three tellers, to verify as legit!
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I know what you were talking about with the danger aspect of cashing big checks with a cambio.. There have been a lot of robberies that have happened after people cash large checks with them, a notable one happened in La Vega after a woman cashed a 10,000 US check at the Parque de las Flores and was followed all the way back to Burende (where she lived) and was shot. The way I do things here now, is I withdraw cash from my US bank, 10k RD at a time, and it costs me precisely 248.00 for each withdrawal, that's a 40.32 exchange rate which is pretty damn good actually. Sometimes I am even a bit scared that there are people watching me if I withdraw too much at the same time, but that risk would exist anywhere in the world.
For those with US account or US Social Security Number, Fidelity, and ING Direct (now CapitalOne 360) offers free ATM withdrawals worldwide and no currency exchange fee. I got 40.31 from Fidelity and 40.37 ING, same time, same ATM. After it finally settles (prob Monday or Tuesday) I will see which one has really a "better" rate...anyway 40.31 is still good.