Accessing Funds in American Bank Accounts

KatwillNY

Newbie
Jun 15, 2018
7
0
0
How is everyone accessing their funds in their American banks? Recently I had to transfer money for my builder and it was a royal PITA. Firstly, the fees are ridiculous, 5% to transfer 5k and even to get the money after paying the fees, the money which was supposed to take 30 minutes took 3 days and several phone calls. Just wondering if there is an easier way to get money to the island.
Thanks in advance

kat!!
 

SantiagoDR

The "REAL" SantiagoDR
Jan 12, 2006
5,808
948
113
Establish a relationship with a "Reputable Cambio".

You can then write checks on your American bank account.
No fees and excellent exchange rate (Currently around 49.5 pesos to 1 U.S. dollar).

After being established, checks of a couple thousands are cashed immediately.

For large amounts you will probably need to wait until your checks clears.
 

pularvik

Active member
Jan 2, 2011
424
38
28
Or open a bank account here , deposit a check and wait three weeks for it to clear. If you are building and going to live here it is the way to go.
 

windeguy

Platinum
Jul 10, 2004
42,211
5,966
113
Post 3 is the best answer.

As a backup, get a Charles Schwab ATM card. All ATM fees are refunded and I get a better FOREX rate than at Western Union or Caribe Express when using their card. Other cards are not as good.

Always have a back up regardless of what it is.