Banco Santa Cruz Questions

[lauretta08]

Hello everyone!

This is my first post here, so thank you for having me. My partner and I just purchased a house in Sosua, DR and plan to divide our time between DR and USA within a couple of years. In the meantime, I am back in the States and am having some problems with Banco Santa Cruz transfers. I hope you can help me with the following:

- I opened 2 accounts (USD and Pesos) with Banco Santa Cruz. I have an online account and app, as well as a bank/ATM card
- I was not able to make a transfer online. That option was blocked out for me. I called the branch where I opened the account and was told that I needed to be there in person to activate the transfers option. Nobody told me this when we opened the account in Sosua (my partner is my translator and she speaks fluent Spanish).
- My bank in the States (Capital One Bank) does not do intermediary bank transfers.

We have someone helping us with utility bills in the Dominican Republic right now. He has a BSC account as well but I'm not able to transfer money to him. I'm wondering if any ex-pats have encountered the following and could help me.

My questions are the following:

- Would I be able to transfer money to the USD account via the intermediary banks (Citibank and Bank of America in USA) while in the States?
- Would it be possible to order another bank card and have our contact pick it up at the bank or mailed to his place?
- I have used Xoom a couple of times to transfer but want to avoid as much transfer fees as possible. What are my other options?

Was hoping that by opening the account in DR I would have less issues but that is not the case. Such is the journey I suppose!

Thank you for any help you can give me! Looking forward to connecting with you all on here!

Laura

 

[lifeisgreat]

You can transfer money into your account from the states for now.. just sign into Cruz a line then look for your account manager she will email you transit info you request ..you will need ednorte etc account info add to payee you pay bills in peso only …you can always western union money it’s instant to who you send to..

 

[BermudaRum]

Your bank in the US should be able to transfer online to your peso acct to the Beneficiary Bank (Banca Santa Cruz) directly, not via an Intermediary Bank. I am oversees and my instructions via online maybe different than yours, however my bank here in Bermuda (HSBC) to Banca Santa Cruz in the DR is as per the following.


Swift code “SCRZDOSDXXX” of “BANCO SANTA CRUZ”.
* I bank in Sosua as well, however when transferring funds into the DR for B.S.C., all funds are received into one Swift Code.

Beneficiary Bank.....SCRZDOSDXXX
Banco Multiple Santa Cruz SA
Santa Domingo , Dominican Republic

Reference screen or Payee Screen...... Write your name as it appears on your B.S.C. account along with your Acct #.

If I were you I would do a trial amount to your peso account online. After you are successful you could always transfer to the other persons account via your US bank directly into their B.S,C, account by changing the name and acct #.

As far as providing a card for someone that is not on your account name, I can assure you that B.S.C. will not issue a bank card unless you are the account holder and will be required tp sign the release form.

 

[lauretta08]

You can transfer money into your account from the states for now.. just sign into Cruz a line then look for your account manager she will email you transit info you request ..you will need ednorte etc account info add to payee you pay bills in peso only …you can always western union money it’s instant to who you send to..

Thank you for the info. I will contact the account manager for the transit info. The problem at the moment is that the ednorte account is not yet in my name as we are going through the inheritance procedure with the previous owners. That will not happen for another 5 months. But in the meantime, this will be the best route to go, thank you again.

 

[lauretta08]

Your bank in the US should be able to transfer online to your peso acct to the Beneficiary Bank (Banca Santa Cruz) directly, not via an Intermediary Bank. I am oversees and my instructions via online maybe different than yours, however my bank here in Bermuda (HSBC) to Banca Santa Cruz in the DR is as per the following.


Swift code “SCRZDOSDXXX” of “BANCO SANTA CRUZ”.
* I bank in Sosua as well, however when transferring funds into the DR for B.S.C., all funds are received into one Swift Code.

Beneficiary Bank.....SCRZDOSDXXX
Banco Multiple Santa Cruz SA
Santa Domingo , Dominican Republic

Reference screen or Payee Screen...... Write your name as it appears on your B.S.C. account along with your Acct #.

If I were you I would do a trial amount to your peso account online. After you are successful you could always transfer to the other persons account via your US bank directly into their B.S,C, account by changing the name and acct #.

As far as providing a card for someone that is not on your account name, I can assure you that B.S.C. will not issue a bank card unless you are the account holder and will be required tp sign the release form.

Thank you for the info. I will try this and see if it works. All a learning experience.

Best wishes,
Laura

 

[cavok]

I transfer money from my Ameritrade brokerage account to my BSC account. It does go through Citibank. All money transfers out of the US go through an intermediary bank. There may be some exceptions(?). I usually have the funds the next day.

I doubt BSC will let anyone else ;pick up your card.

You can deposit a check into your BSC account, but it will take about a month to clear. Some cambios will accept a personal check, but you'll get dinged on the exchange rate.

 

[JD Jones]

Thank you for the info. I will contact the account manager for the transit info. The problem at the moment is that the ednorte account is not yet in my name as we are going through the inheritance procedure with the previous owners. That will not happen for another 5 months. But in the meantime, this will be the best route to go, thank you again.

That shouldn't be a problem. I paid my employees monthly EDESUR bills for years so they wouldn't have to take time off to pay them personally. I used my Banco Popular account to make the payments.

 

[lifeisgreat]

Thank you for the info. I will contact the account manager for the transit info. The problem at the moment is that the ednorte account is not yet in my name as we are going through the inheritance procedure with the previous owners. That will not happen for another 5 months. But in the meantime, this will be the best route to go, thank you again.

You just need account number name it’s in isn’t really relevant..

 

[AlaPlaya]

I bank with capital one usually send money to my Santa Cruz pesos account using XE .com. Never have any problems and cheaper than sending a wire. Have also used Remitly but prefer XE.

 

[bachata]

I bank with capital one usually send money to my Santa Cruz pesos account using XE .com. Never have any problems and cheaper than sending a wire. Have also used Remitly but prefer XE.

Remitly 0.99 per transaction.
I use xoom. Small $ amounts.

JJ