We moved here in September, and without getting too specific, I have calculated that I have spent just over US$1,000 in wire transfer fees, ATM fees, international processing fees, and low exchange rates.
I get a monthly wire transfer into a US Bank account from my job. I then use xoom.com to send DOP. At times we use are ATM card, but now only when needed. I need to keep a US Bank account to pay US bills, and am not able to have my employer deposit into two separate account, i.e. half to the US and half to a DR bank. I am in the process of opening a DR bank account, but will still have wire transfer fees.
How do you guys deal with this? Is this just the cost of living in paradise, or is there a better way to bank internationally without having all these charges.
I have spent the equivalent of 400 bottles of Presidente in 135 days on banking fees and low exchange rates. That is 2.9 bottles of beer per day I am missing out on.
I get a monthly wire transfer into a US Bank account from my job. I then use xoom.com to send DOP. At times we use are ATM card, but now only when needed. I need to keep a US Bank account to pay US bills, and am not able to have my employer deposit into two separate account, i.e. half to the US and half to a DR bank. I am in the process of opening a DR bank account, but will still have wire transfer fees.
How do you guys deal with this? Is this just the cost of living in paradise, or is there a better way to bank internationally without having all these charges.
I have spent the equivalent of 400 bottles of Presidente in 135 days on banking fees and low exchange rates. That is 2.9 bottles of beer per day I am missing out on.