Bank to bank transfer limit.

[cobraboy]

Sure thing but if I am on NC, I am not going to drive 2 hours to Santiago to my main branch just to resolve an annoying minor problem.

I sure would if it was my US$10,000+ and I might be doing it again.

One visit, one appointment, one bonding meeting with maybe a small follow-up gift.

Then phone calls: "Jose, I'd be much obliged if you'd be on the lookout for a US$15,000 transfer coming your way. Could you call me as soon as it's in? Muchas gracias!"

"A spoonful of sugar helps the medicine go down."

Consider the trip to Santiago as a business investment. Because it is.

 

[dropshort]

I am not sure of the colour of the flag, however the $10,000 US limit was quickly reduced to $5,000 US.
You can being in as much money as you want just demonstrate from where it came.

The guys at the border are your enemy only if you want it that way.

Once a US Customs guy was giving me a blast and apologizing at the same time.
I was listening and he told me EXACTLY what I needed to do.
When he stopped talking I thanked him for the information and went on my way.

You guys here bad mouth a lot of people who are friends to me.

It is like the woman who not decide whether to have her teeth cleaned or a pelvic exam.

"Make up your mine, I have to adjust the chair!"

DS

 

[VJS]

I sure would if it was my US$10,000+ and I might be doing it again.

One visit, one appointment, one bonding meeting with maybe a small follow-up gift.

Then phone calls: "Jose, I'd be much obliged if you'd be on the lookout for a US$15,000 transfer coming your way. Could you call me as soon as it's in? Muchas gracias!"

"A spoonful of sugar helps the medicine go down."

Consider the trip to Santiago as a business investment. Because it is.

Ehhh... I guess we have different priorities and approach. I would not invest a day of my life on something as un-productive as moving money from one pocket to another. It should be done in 60 seconds with a few clicks of a mouse, and that's how it is, as long as you are under $10K.

 

[ohmmmm]

I sure would if it was my US$10,000+ and I might be doing it again.

One visit, one appointment, one bonding meeting with maybe a small follow-up gift.

Then phone calls: "Jose, I'd be much obliged if you'd be on the lookout for a US$15,000 transfer coming your way. Could you call me as soon as it's in? Muchas gracias!"

"A spoonful of sugar helps the medicine go down."

Consider the trip to Santiago as a business investment. Because it is.

That is not how it works for me. They change bank managers often and its not the bank manager in Santiago that has to be satisfied. It is at the corporate offices in Santo Domingo with some clerk. All the bank managers can do is submit the explanation for the money transfer. Its up to some clerk at the corporate office to approve.

 

[TropicalPaul]

I went through the experience of having funds embargoed by Popular for an investigation which took two weeks, while they had to find someone to come and visit me. I was told this was all because I hadn't liaised with them before I made a large-ish transfer to buy a car. So the main thing is to go and talk to the supervisor in your branch BEFORE you make the transfer, and yes I would suggest that you take evidence of where the money is coming from and what you want to spend it on if you have that. Get their email address, and from then on if you just email them, always before you transfer, it works. I was told it was all international anti money-laundering regulations they were complying with as well.

 

[cobraboy]

Ehhh... I guess we have different priorities and approach. I would not invest a day of my life on something as un-productive as moving money from one pocket to another. It should be done in 60 seconds with a few clicks of a mouse, and that's how it is, as long as you are under $10K.

Yeah, sometimes the DR can be maddening.

In Realville, DomRep, that's how it's done.

And while YOU think it's one-pocket-to-another, in reality it's not. Banks make the rules under prevailing law, and you agreed when you opened your account.

This is a relationship culture, not a transaction culture, and few business relationships are more important that with your banker.

In business meetings, the first 10-15 minutes are spent chatting family and "who you know" topics. To violate this is a faux pas no matter "that's how we do it back home."

Either adapt and roll with it of forever be pi$$ed off and frustrated over perceived inefficiencies, delays and in some cases intentional passive-aggressive behaviors intended to show you their level of their respect for YOUR violation said of unspoken protocol.

It is what it is.

Best of luck!

 

[VJS]

Yeah, sometimes the DR can be maddening.

In Realville, DomRep, that's how it's done.

This is a relationship culture, not a transaction culture, and few business relationships are more important that with your banker.

Just like ommm pointed out above, clearing wires happens at HQ. Your local branch manager is a glorified paper pusher and knowing him/her only marginally helps you. I have bank accounts in 5 countries, Dominican one being the least important, and your approach of bribing every branch manager I see really doesn't scale for me.

Yeah, sometimes the DR can be maddening.
Either adapt and roll with it of forever be pi$$ed off and frustrated over perceived inefficiencies, delays and in some cases intentional passive-aggressive behaviors intended to show you their level of their respect for YOUR violation said of unspoken protocol.

I sent a wire this morning. It arrived in 4 minutes to my DR bank account. I suppose in YOUR Realville in 4 minutes you are still warming up your car to go shop for a box of cigars for your favorite bank manager. Different strokes for different folks.

 

[cobraboy]

Just like ommm pointed out above, clearing wires happens at HQ. Your local branch manager is a glorified paper pusher and knowing him/her only marginally helps you. I have bank accounts in 5 countries, Dominican one being the least important, and your approach of bribing every branch manager I see really doesn't scale for me.




I sent a wire this morning. It arrived in 4 minutes to my DR bank account. I suppose in YOUR Realville in 4 minutes you are still warming up your car to go shop for a box of cigars for your favorite bank manager. Different strokes for different folks.

That's great! Good for you!

Unfortunately there are numerous horror stories. I could tell a few myself when I first got to the DR almost 9 years ago.

And NOW I'm on first name basis with folks that can matter.

But everybody has a different style and a different value on their time.

 

[william webster]

That is fantastic service for a wire transfer.

Don't change anything you're doing !!

Takes mine just over a day..

I deal in 4 countries and do the wires myself usually.
My main account allows such activity - US & Canada, no.

 

[drescape24]

Well Fargo account holders can send transfer direct to thier bank account in Banco Reserves ( I believe) and maybe another bank. I looked into it ,but my bank B.S.C. it can't be done.

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[cobraboy]

I'm curious: is this a US bank to Banreservas transaction?

Where is the location of the origination of the transfer?

 

[drescape24]

I'm curious: is this a US bank to Banreservas transaction?

Where is the location of the origination of the transfer?

I have an account in the U.S. with Wells Fargo. They said if my bank in the D.R. was Banco Reserves ( I believe that was the bank, and I think there is another. It was over a year ago.) I could do bank to bank account to account transfers online after I set it up at a branch.

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