I can't get a straight answer here. Does anyone get their monthly Social Security (US) check direct-deposited into a local bank account, say, Banco Popular for example? Is this possible?
- Thread starter Hamster
- Start date
Direct Deposit
The Hamster is on the wheel....... never seen so many questions about the simplest things
Yes --- search, search & search....... nothing new here
Yes --- search, search & search....... nothing new here
Hamster
read the thread about 'Don't do it'............ creates many problems, they say and gov't monitoring every 2 yrs
read the thread about 'Don't do it'............ creates many problems, they say and gov't monitoring every 2 yrs
Thanks WW. I get that, but then how do I get my money (I would rather get Dollars) without a wire transfer which, from my present bank, costs US45 dollars?
You can get it this way. Card works all over the World. But you should have a US address with SS.
Direct Express® Prepaid Debit Card | Benefits.gov
DirectExpress is a prepaid debit card for eligible individuals to receive their federal benefits electronically. Determine your eligibility for this benefit
www.benefits.gov
Open a dollar account at a Dominican bank. Then write a personal check to yourself from your USA bank and deposit it. It will take a couple of weeks to fully clear, but it’s free. That’s what we’ve done for decades.
This would be the best way to get his money. But I am assuming the OP has Direct Deposit in the US. If he does not than he can use the Direct Express Debit card I posted about...............But it is important not to get caught in the web of a previous poster that has to jump through hoops every two years because he gave a foreign address............
My wife and I American, She wanted her SSN deposited in POP. I did not and left mine in the states. Everything was find, never a problem. I think she had to pay 300 pesos, for the DR transactions. When the US gave us a stimulus check, a couple of times. My wife did not get it, I did. Reason they determine who gets it by where your SSN is deposited or the last address where you files taxes. Think about it, stimulus check is to stimulate
the US economy.
the US economy.
You and me both regarding checks. That's the way to do it, money for nothing (at least no fees to wire or send via WU or ATM fees and issues) .
I use US banks except for local monthly expenses from those checks in a US dollar account. No direct deposits to DR banks. As we can see, that is more trouble than it is worth especially for Social Security.
By the way, I know of a few people that "overused" their SCHWAB ATM cards as their main source of cash, and had their accounts deleted by SCHWAB.
So be careful if you go the SCHWAB route exclusively.
Thanks, but I'm still a little confused. When you say "
in a dollar account in DR? If not, how do you access the money. ATM card only? Or do you write a check to yourself and deposit that and wait 2 weeks? I will need a good part of my SS income in pesos on a monthly basis. Still confused...ugh. I know the answer is simple, I'm just not getting it.
Obviously I can't answer for Windy, but I use American atm's exclusively. My primary bank is a credit union and I've been with them for over 35 years. I generally do 6 withdrawls/month of 10k pesos each. I pay my rent with half of that in cash. So far, it has worked well.
Very helpful thread. Thank you all. I understand the check writing money transfer posted by AE. It means I need to think ahead a bit and move some money as it takes a couple weeks to transfer. Got it. As far as the Direct Deposit debit card goes then I can use it at DR locations that accept MasterCard? And I can go to bank ATMs and withdraw pesos at current exchange rates? Thanks. Farmer
or do wire transfer, its expensive but more secure that way and it will clear in 5 days. I had done it before, it works well.
I have my funds deposited in mh US account then withdraw my US bank monies with my debit card using a teller inside the bank. I always had grouble with the machines. Not giving cash ( and charging me for it and takes time to get it all settled) or eating my card.
That makes sense. I'm not familiar with American ATMs down there, are you near Juan Dolio by ant chance?