- Thread starter David B
- Start date
Account in Dominican Bank in US Dollars
If you have a cedula I recommend Ban Reservas.
If you don't have a cedula I'd try Banco Santa Cruz.
If you don't have a cedula I'd try Banco Santa Cruz.
That would vary from bank to bank, on the Dominican end I pay 7 dollars, and on the Canadian end ten dollars Canadian, so about the same, 14 dollars in total.
Yes. I have both. Dollars in my name. Peso in name of my SO. Makes life when I am traveling much easier for her to deal in pesos and easier for me to have the dollars.
Get to know your DR bank manager well and carry a personal check.
I have one with Banresrevas. You need to keep it above USD$300. With other banks, I've heard it's USD$500.
You need to do transactions can't be inactive for six months or they charge $10. Fee.
Will be deducted from your balance.
JJ
I move USD from the 🇺🇲 to the 🇩🇴 using a wire transfer.
My outgoing bank charges a fee and my incoming bank charges a fee.
Fees are how banks make their money (along with interest on loans).
If you want to make transactions to move money, you gotta pay them.
Just structure your arrangements in a way that you pay the least about of fees that allow you to accomplish your objectives.
I have a friend that moves his USD from the 🇺🇲 to the 🇩🇴 using XZOOM.
You can Moneygram and Western Union money to yourself.
And when I needed to do laundry in small amounts 10G cash can be hand carried.
I suggest a body money carrier.
If you need to carry more just declare it (and a good reason why you need it and explanation of where it came from).
And make sure you have armed escort that you trust picking you up at the airport.
My outgoing bank charges a fee and my incoming bank charges a fee.
Fees are how banks make their money (along with interest on loans).
If you want to make transactions to move money, you gotta pay them.
Just structure your arrangements in a way that you pay the least about of fees that allow you to accomplish your objectives.
I have a friend that moves his USD from the 🇺🇲 to the 🇩🇴 using XZOOM.
You can Moneygram and Western Union money to yourself.
And when I needed to do laundry in small amounts 10G cash can be hand carried.
I suggest a body money carrier.
If you need to carry more just declare it (and a good reason why you need it and explanation of where it came from).
And make sure you have armed escort that you trust picking you up at the airport.
I have both a USD and DOP account in BHD and Banco Santa Cruz. I usually deposit a check from my US bank into the USD accounts here. It costs nothing to transfer money that way, but you have to plan in advance since it can take 2-4 weeks for the check to clear in your account.
If I need money quickly, I'll either wire money from my brokerage account ($35), or I'll cash a check at a local cambio. I usually get dinged about 0.75 pesos from the current rate to cash a check.
If I need money quickly, I'll either wire money from my brokerage account ($35), or I'll cash a check at a local cambio. I usually get dinged about 0.75 pesos from the current rate to cash a check.
What do the banks charge you monthly per account and what's their minimum that you have to maintain?
Both of my banks require I maintain a $500USD balance and $RD5000 peso balance. There's no charge is you maintain those balances. If it drops below that, I think there is a 100 peso charge on the DOP acct and $5 on the USD acct.