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  1. #1
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    Question Banking question

    As some of you know, I am moving to Santo Domingo in a few weeks. I plan to open a bank account there, however, I intend to keep the majority of my cash where it is in a bank in NY. I am hoping I will be able to by-pass the hassle and expense of wire transfers by simply writing a check from myself to myself from my account in the NY bank and depositing it into the account in SD. Is this feasible and if not, what is a safe and convienent way for me to transfer the money. Also, considering the option of withdrawing directly from my NY bank via ATM, what positive or negative experiences has everyone had using this method.

    Larry

  2. #2
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    Quote Originally Posted by Larry
    As some of you know, I am moving to Santo Domingo in a few weeks. I plan to open a bank account there, however, I intend to keep the majority of my cash where it is in a bank in NY. I am hoping I will be able to by-pass the hassle and expense of wire transfers by simply writing a check from myself to myself from my account in the NY bank and depositing it into the account in SD. Is this feasible and if not, what is a safe and convienent way for me to transfer the money. Also, considering the option of withdrawing directly from my NY bank via ATM, what positive or negative experiences has everyone had using this method.

    Larry
    I would go and have a chat with BPD (http://bpdbank.com) in New York.
    They're a FDIC insured US bank.

    Passing money from your BPD US$ account to a Banco Popular RD$ account here is a very quick and easy process. Both have online access.

    You can also email Miriam Gil and ask her the same question.
    email: [email protected]

  3. #3
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    Quote Originally Posted by Larry
    As some of you know, I am moving to Santo Domingo in a few weeks. I plan to open a bank account there, however, I intend to keep the majority of my cash where it is in a bank in NY. I am hoping I will be able to by-pass the hassle and expense of wire transfers by simply writing a check from myself to myself from my account in the NY bank and depositing it into the account in SD. Is this feasible and if not, what is a safe and convienent way for me to transfer the money. Also, considering the option of withdrawing directly from my NY bank via ATM, what positive or negative experiences has everyone had using this method.

    Larry
    or you can open a citibank acct in ny,,, and get cash in pesos in citibank in santo domingo or santiago.

    there's i think 3 citibank branches in sd and 1 in santiago.

  4. #4
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    Quote Originally Posted by THE GAME
    or you can open a citibank acct in ny,,, and get cash in pesos in citibank in santo domingo or santiago.

    there's i think 3 citibank branches in sd and 1 in santiago.
    Have you ever done this?

    People I speak to tell me the process is not very fluid with CitiBank.

  5. #5
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    I should have mentioned that my current bank is Bank of America. If possible, I would retain it as my bank but of course I'll open another account if necessary. Thanks for the responses. Keep them coming please

    Larry

  6. #6
    El Mujeron
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    Larry, I know this is off topic...

    Will you become a friggin blogger too?

  7. #7
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    Quote Originally Posted by Talldrink
    Larry, I know this is off topic...

    Will you become a friggin blogger too?
    Haha. I was considering it but have not yet decided if I am the blogging type.



    Larry

  8. #8
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    Larry, sorry I don't have anything to offer. But, could you in the future please share what route you took and your experience in going that route. I would like to do this as well, and I, too, Bank with Bof A. Thanks in advance.

  9. #9
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    Default My experience

    I am in a similiar situation Larry and tried the Citibank route first, being that my account is with them in the States, they were impossible. It is as if they have no relationship at all, and they required the post painstaking procedures of any banks we visited.

    For one, my citibank nice card works at all atm's and garners a fair enough exchange rate. Other than that I set up an account with Banco Progresso (my wife worked fror them for 10 years in D.R.) and have had no problems makeing a lump sum wire transfer or 2. Amazingly the wire's have been credited within 48 hours. With our account at progresso we have a debit card which we can use at the supermarkets and various stores etc.

    Good luck.

    Ian

  10. #10
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    If you know someone at a reputable exchange house you can just write a check to yourself, endorse it and get the money in Pesos at the current rate.

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