retired military

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jaguarbob

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Mar 2, 2004
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Good morning.
Before I ask question,here is the dilema.I am a retired military living in the DR for many years.My ss check gets direct deposit to banco Popular for many years.My military is deposited to a US bank with a debit card,and have been doing this for years,as I get a cash withdrawal from the bank every month to pay bills.
Lo and behold this month,I get a notice from bank that they no longer will accept cash withdrawals from atms or inside the bank in several countries,the DR being one of them.Store actions are not affected,as I can still go to the super mercados,or pay phone and elec bills,but no cash.Called bank and they said too much credit card crime in these 8 countries,such as cloning of numbers.

So,my question is to all you military retires living here,how do you get your money?
I would like to get a direct deposit here if possible.
thanks in advance
bob
 

AlterEgo

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Jan 9, 2009
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Have you considered a casa de cambio? If they know you, you can cash a check with them when you need to access money from that account. Good to have a relationship with one - start small until they know you.
 

Criss Colon

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Jan 2, 2002
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yahoomail.com
I have been using the same "Casa de Cambio" here in SD for 27 years!
I have my VA pension deposited in my Debit card account in Boston.
I then cash my personal check here in SD.
My Boston SS bank account was "Hacked" for $1,500 dollars about two weeks ago.
They made the online purchases from here in the DR, from a company in Europe, for delivery in France!
Dominicans are great thieves.
Got the money back.
I am now going "All Cash" here in the DR.
No more debit cards from ATMs in the DR!
Many of the dominican ATM banks, and the USA banks now have total charges that are about 3.5% for ATM withdrawls
That's $3.50 in fees on $100!
No Way!
I even cancelled the card on my VA account , and it can only be accessed by my personal checks.
Establish a relationship with a "Casa de Cambio" as "AE" has said.
My "Casa" changes my Dollar checks into Dollars for free.
Don't expect that to happen, unless you have been a valued client for over a quarter of a century!
I can then change the dollars to pesos at a better rate at Vimenca, or similar place.
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windeguy

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Jul 10, 2004
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While not retired military myself, this approach might also work. I deposit US account checks in a DR bank in a US dollar account. I remove the US dollars as needed and change them to pesos in Western Union or Caribe Express.

Going directly from US dollar checks to DR Pesos does sound simpler, but I have not ever done that myself.
 

Ken

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Jan 1, 2002
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I wouldn't dream of using a Debit Card here.

My retirement checks are deposited in my account in a US bank.

I cash checks on that account at Vimenca (Western Union) in Sosua and am given pesos.

Have been doing this for years, and know other expats do, too, because I have seen them at Vimenca doing same thing I am.

It wouldn't have to be Vimenca, I could have established a relationship with another Cambio.
 
S

SLEEPY

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I use USAA. They reset my account from "fraud Lock" within minutes of my hone call to them.
 

jaguarbob

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Mar 2, 2004
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WHEN I signed up for ss direct deposit at the US consulate way back i 2004,they had all necessary paperwork from Banco Popular for direct deposit,dollar savings account and have been doing that with no problem,and now Popular has a debit card that I can use to purchase on internet,as I do a lot of that.But back to military retirement,contacted the consulate today and because of the new law that US just passed to only direct deposit miltary and ss checks,they have now opened up many more countries for direct deposit,Dominican Republic being one.So I am making appointment to do just that and all my money will be in a dollar savings account in popular.As I pay all my bills through banco popular,it works out fine for me.'
bob


Probably the same bank as mine. They just got bought out by BankAmerica or some such and as of 21 May 2013 will not allow withdrawals as you say. They sent a new card to my Tenn address and had a heck of a time getting that in my possession also.
I'm on the way next week to Maine any and have 12 weeks to get another bank. Probably will go back to DirectExpress which is the one that social security itself recommends.
Der Fish
 
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