Banco Santa Cruz "cambio" wire xfers?

Adrian Bye

Bronze
Jul 7, 2002
2,077
138
0
Hey guys,

I was at Banco Santa Cruz today, changing some money. I learned that they supposedly offer a service where you can wire money directly to the change desk, and not pay any incoming fees. You can withdraw the money directly in pesos, or in dollars.

This sounds odd to me, since their regular bank accounts charge $25 for incoming wires in USD.

Has anyone used this service?

Adrian
 

GirlieGirl

New member
Jun 19, 2003
397
0
0
???

Ihave not...

I know that I have received many incoming wires from the US in USD at Banco Popular and was never once charged a fee as it went directly into my dollar bank account.

My only problem is paying my vendors in the US. Banco Popular will not issue a check card style visa to pay them and every time I go to them to send a wire they never have the money available. I actually have to western union dollars to a friend in the US and then have her pay with her check card or send the wire... costs me a fortune western union fees and then fees for my friend to do a wire.

So if anyone has any ideas for me getting dollars to my vendors please let me know.

GG
 

Chris

Gold
Oct 21, 2002
7,951
28
0
www.caribbetech.com
The problem of paying vendors is exactly why we have business acounts outside of the country. Here is how we do it GG - all of our income from the two businesses gets wired to our turks and caicos bank account. Then, we pay our vendors either by wire, or wire money from Turks and caicos to the US and pay with a US check, or wire money to our us business credit card and pay our vendors by credit card. So, somewhere along the line, it costs us a wire transfer fee to pay a vendor usually. Is there any way that you can pay your vendors by credit card, or by paypal?

Let's talk about this, I may be able to give you some more ideas...
 

philly

New member
Feb 14, 2003
90
2
0
i have wired money from my us account to my dollar account at ban reservas and only ever had to pay a fee from my originating bank...ban reservas hasn't ever charged me a fee.

are you saying that you can not wire money from your US$ account here in DR to your third party? or your own US$ account somewhere esle?

how about an international money order or certified bank check or amex travelers checks? and fed ex that to your account in the US and pay from that account?



just ideas :)
 

Adrian Bye

Bronze
Jul 7, 2002
2,077
138
0
Try wiring money now via ban reservas. They will charge you a fee. It started a couple of months ago.

I don't keep USD in the country. My USD stays outside, and I only bring it in when I need to change money.