Yes, of course. I should have written simply: How can I get a US person to direct deposit to my Dominican bank account. (and not to my bank in the USA).
- Thread starter franco1111
- Start date
Banco Popular ATM withdrawal foreign debit card
If I were one of your renters, I would want an easy stress-free way to pay my rent. A wire transfer isn't exactly easy. And you would be losing roughly $40 in fees to do that on each monthly rent payment.
Yes. Not the solution I'm looking for. Perhaps what I'm looking for can't be done but I'll check with my DR bank next week.
If there was a way to deposit money in the US directly to a DR account all of the dozens of money transfer places all over would not be in business. In short you are not the first to ask this and the answer is always the same..............
I fail to see why you are blaming the bank. The fault is yours. They clearly gave you the option of accepting the conversion or not but you chose not to read it. Your bad,not the bank's...
He did not blame the bank for what happened, only criticized their wording on the ATM screen and their fees...
Once again, as sands through the hourglass, so are the DR1 expat greatest hits. This thread has been relived and put on rinse and repeat more times than overstay. How can one even fathom leaving their own home, let alone their home country, without understanding basic financial movments. After 20 years, I honestly feel people just blindfold themselves out of boredom, and throw darts at a map. There are many people living here for even longer than JD (think 10 BC) whose Spanish starts and ends with Pol fabol and grassy ass. How much do I tip and when? How to get a puta? Do I need a lawyer? Where do I buy milk? Come on folks we can do better, there is help!
I just go inside the bank and withdraw funds from my USA account with my USA bank debit card. Limit is what your bank designates. So simple.
And if you have a Schwab or Fidelity debit card, there are no fees and you get a better rate than CaribeExpress.
Posting for future reference for myself :
1. Banco Popular can be a crapshoot with anything more than 10000 DOP. Fees is 300DOP per transaction. Shows if you want to conversion (say no) or not.
2. There is an ATM in the Coral Reef Casino which charges 500 DOP fees but lets you take larger amounts. I have personally taken 20000 as 30000 it would hit my daily cash withdrawal limit. This was a last resort as many ATMs were not working one evening.
3. Playero on the main road in Sosua also has a Banco Popular ATM
3. Scotiabank does not charge any fees. So to avoid issues, I took 10000+10000 and the exchange I got was the Mastercard rate. Worked in Cabarete and in Las Terrenas too. A very kind Swiss lady told me of this.
4. La Nacional in Puerto Plata reportedly gives out 20000 in one go, I think the fees for 150DOP but when I tried it, cash was debited but I got a 'Technical Error' and had to get it back via my bank.
5. I saw a BHD in Cabarete but there were numerous complaints on Google about the ATM so I walked for an extra bit and got it from Scotiabank
Note: Always so no to any currency conversion offerred by the ATM/card machine. This lets your bank back home do the conversion and it is usually at a better rate. UK challenger banks use the Mastercard rate and no conversion fees which is very very good. If you chose the ATM's conversion they are double-dipping on both the rate AND the withdrawal fees
1. Banco Popular can be a crapshoot with anything more than 10000 DOP. Fees is 300DOP per transaction. Shows if you want to conversion (say no) or not.
2. There is an ATM in the Coral Reef Casino which charges 500 DOP fees but lets you take larger amounts. I have personally taken 20000 as 30000 it would hit my daily cash withdrawal limit. This was a last resort as many ATMs were not working one evening.
3. Playero on the main road in Sosua also has a Banco Popular ATM
3. Scotiabank does not charge any fees. So to avoid issues, I took 10000+10000 and the exchange I got was the Mastercard rate. Worked in Cabarete and in Las Terrenas too. A very kind Swiss lady told me of this.
4. La Nacional in Puerto Plata reportedly gives out 20000 in one go, I think the fees for 150DOP but when I tried it, cash was debited but I got a 'Technical Error' and had to get it back via my bank.
5. I saw a BHD in Cabarete but there were numerous complaints on Google about the ATM so I walked for an extra bit and got it from Scotiabank
Note: Always so no to any currency conversion offerred by the ATM/card machine. This lets your bank back home do the conversion and it is usually at a better rate. UK challenger banks use the Mastercard rate and no conversion fees which is very very good. If you chose the ATM's conversion they are double-dipping on both the rate AND the withdrawal fees
I withdrew money from Scotia Bank ATM in Cabarete with my US debit card about a month ago and was charged 350 pesos.
Not sure why, they showed a message that something might be charged but in the end they did not. Could be due to my card being from the UK
My card pays all ATM fees so I was not charged in the end either, but that is the fee if you don't have a card like that.
My bank doesn't charge any forex fee (but does not pay ATM fees either). There were no fees charged later and the ATM slip showed zero fees as well.
I suppose there is some arrangement with Scotiabank, which works very well for me
I just checked and the exchange rate I got was 75.6315 per GBP when the interbank rate was hovering between 75.9 and 76.
I suppose there is some arrangement with Scotiabank, which works very well for me
I just checked and the exchange rate I got was 75.6315 per GBP when the interbank rate was hovering between 75.9 and 76.
Doing it by Zoom must be some type of voice transfer (in a conference call)that I'm not familiar with. Could you expand on recommendation as to HOW to use Zoom for a renter in the US to pay his rent DIRECTLY to my Dominican dollar account...please?