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  1. #1
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    Default Monthly transfer from a US bank

    Any Gringos in the DR have regular monthly transfers set up from one of the too big to fails to a DR bank?
    US banks allow ACH transfers (as opposed to wire transfers) amongst each other and no wire fees are charged.
    Trying to find out if there is any way something like this can be done US banks to DR bank monthly.

  2. #2
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    Quote Originally Posted by TimeOut View Post
    Any Gringos in the DR have regular monthly transfers set up from one of the too big to fails to a DR bank?
    US banks allow ACH transfers (as opposed to wire transfers) amongst each other and no wire fees are charged.
    Trying to find out if there is any way something like this can be done US banks to DR bank monthly.
    I know of no way to do that kind of transfer without a wire transfer fee.

    Depositing a check from a US bank into a US dollar account in the DR might be something you wish to consider. While there are no charges for that it does take a few weeks for each checks funds to clear and to become available.

  3. #3
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    That will work Windy... once you get past the first 'waiting period', they all come 30 days later.

    Suffer once and it's over

  4. #4
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    Quote Originally Posted by windeguy View Post
    I know of no way to do that kind of transfer without a wire transfer fee.

    Depositing a check from a US bank into a US dollar account in the DR might be something you wish to consider. While there are no charges for that it does take a few weeks for each checks funds to clear and to become available.
    OK seems like a good idea. I guess for the money I need in August I must deposit July 1 and always stay 30 days ahead.
    Which bank do u recommend? Need online banking, ATM card and possibly add a second person to make deposits and withdrawals at a branch.

  5. #5
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    Why don't you get an "introduction" to a cambista, and have the luxury of cashing a US drawn check, without the waiting period?

  6. Likes Criss Colon, frank12 liked this post
  7. #6
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    Quote Originally Posted by TimeOut View Post
    OK seems like a good idea. I guess for the money I need in August I must deposit July 1 and always stay 30 days ahead.
    Which bank do u recommend? Need online banking, ATM card and possibly add a second person to make deposits and withdrawals at a branch.
    Exactly, thinking 30 days ahead. Banco Popular is one option.

  8. #7
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    Popular, Progreso..... just feel your way around until you find a 'friendly' one.

    If you have local friends, somebody's relative might work in a bank.
    That will ease the process considerably.

    Tamborista's cashing at the cambio works too.... personal preference, really....
    but not if you want the ATM card and online banking - which all banks offer

  9. #8
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    Quote Originally Posted by william webster View Post
    Tamborista's cashing at the cambio works too.... personal preference, really....
    but not if you want the ATM card and online banking - which all banks offer
    Why not do both, cash the US drawn check @ a cambio, and deposit the CASH in the bank for ATM access?

  10. #9
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    Quote Originally Posted by Tamborista View Post
    Why not do both, cash the US drawn check @ a cambio, and deposit the CASH in the bank for ATM access?
    After an introduction is established with a cambio, do they cash a check upon request? How do they know it is good?
    Are they doing it strictly on you established reputation? How much is usually the maximum they will cash at one time?

  11. #10
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    Quote Originally Posted by TimeOut View Post
    After an introduction is established with a cambio, do they cash a check upon request? How do they know it is good?
    Are they doing it strictly on you established reputation? How much is usually the maximum they will cash at one time?
    If you bounce a check to a cambio, I do not want to tell you what happens!
    A cambista will cash any size check.

  12. Likes Criss Colon liked this post
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