haha.. epic.. one of the few treasure tidbits i've learned here on dr1.. gonna get a safe and put like 10k RD$ as a decoy in it.. thanks william webster!
- Thread starter jaxter
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Banking(sorry)
haha.. epic.. one of the few treasure tidbits i've learned here on dr1.. gonna get a safe and put like 10k RD$ as a decoy in it.. thanks william webster!
Find that old thread..... honestly, that's where it wound up..... squirreling money away from the safe.
Then go see 'Flight' w/ Denzel Washington........... he has a good hiding place for 'cold' cash.
Then go see 'Flight' w/ Denzel Washington........... he has a good hiding place for 'cold' cash.
I wholeheartedly agree with AlterEgo here. The issue is not the safe itself is the fact that nobody has a safe unless they have something very important in there and as you know perception can be everything sometimes and you being a gringo they will think you'll have tons of cash in that safe and trust me when I tell you Dominicans are very nosy and they WILL find out about it...
A safer bet IMO is to just rent a safety deposit box at a bank if you really want to keep certain things locked up and away from people. Banco Popular and any other bank that I know of offers these and the rent is cheap.
In terms of opening the bank account as someone mentioned your best bet is to take just enough cash with you to open this account 500 USD should be sufficient and then once you have it open use your US bank website to perform wire transfers as needed. Contrary to what Derfish said Wire Transfers are relatively inexpensive (25 USD per transfer regardless of amount)...be aware that by law if you transfer more than 10,000 USD at a time they will hold up the transfer until you can explain the origin of the money and also if you take the money out less than a month from the time of deposit the Dominican bank will take a 0.0065 fee. For smaller dollar amounts you can use www.xoom.com which is relatively quick and inexpensive, but the first time you transfer you'll have to go through a verification process. Of course you can always just use your US ATM card at any Dominican ATM and you'll get charged the typical 3 USD fee + any fees your bank may charge.
William W: Haven't seen the movie, but in "American Gangster" he had the stash under his doghouse. Unfortunately for Jax he doesn't have his bad@ss dog anymore. If he did that would have been a good hiding place as that dog looked like he could kick some @ss.
A safer bet IMO is to just rent a safety deposit box at a bank if you really want to keep certain things locked up and away from people. Banco Popular and any other bank that I know of offers these and the rent is cheap.
In terms of opening the bank account as someone mentioned your best bet is to take just enough cash with you to open this account 500 USD should be sufficient and then once you have it open use your US bank website to perform wire transfers as needed. Contrary to what Derfish said Wire Transfers are relatively inexpensive (25 USD per transfer regardless of amount)...be aware that by law if you transfer more than 10,000 USD at a time they will hold up the transfer until you can explain the origin of the money and also if you take the money out less than a month from the time of deposit the Dominican bank will take a 0.0065 fee. For smaller dollar amounts you can use www.xoom.com which is relatively quick and inexpensive, but the first time you transfer you'll have to go through a verification process. Of course you can always just use your US ATM card at any Dominican ATM and you'll get charged the typical 3 USD fee + any fees your bank may charge.
William W: Haven't seen the movie, but in "American Gangster" he had the stash under his doghouse. Unfortunately for Jax he doesn't have his bad@ss dog anymore. If he did that would have been a good hiding place as that dog looked like he could kick some @ss.
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Good info and thanks but as my father always said"Its a poor rat with only one hole to run to", having a Dominican family gives you other locations for your safe in addition to a safety deposit box. I would never keep a safe in my home or apartment while in DR because of home invasion.A safe in DR,in my opinion,should contain only important papers and never valuables for more than one night.
Jax
As far as I know the Popular in NY is the Puerto Rican Banco Popular, not the Dominican one... so, not the same.
Damn, that sucks. I also want to know has anyone tried paypal? What if you link both debit cards or bank accounts to your paypal account? You should be able to transfer your money over for cheap or free, right?
"Jax", You Have A LOT To learn About Dominican Families!
What a great idea, "Stash your money at the home of a family member for safe keeping"????
I, and hundreds of others on DR1ers, who live here, and are married to a Dominican, are still laughing about THAT idea!!! :laugh::laugh::laugh:
I suggest that you leave any large amounts of money you have, in an account in the USA.
Withdraw small amounts here as you need to.
I see NO Positive reasons to have your cash here, NONE!
Your new extended family will soon see you as the "Go-To-Guy" when they want money!
When they do, you must always ask yourself, "What would they do if I weren't here???"
Then tell them to do THAT!
At first you will want to "Help Out".
You will want to promote "Good Will" with your new relatives.
DON"T DO IT!
It is a "Slippery Slope" that is hard to get free of!
Dominicans "Borrow" from anyone they can get money from, not just you.
You will just become the first person they ask.
They are used to being rejected, and just move down the list.
That is all they know. Doesn't make them "Bad People", they are just doing what their culture has shown them to be "what to Do".
In the DR, follow the old proverb, "Neither A Borrower, or "ESPECIALLY" a Lender BE!!!
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What a great idea, "Stash your money at the home of a family member for safe keeping"????
I, and hundreds of others on DR1ers, who live here, and are married to a Dominican, are still laughing about THAT idea!!! :laugh::laugh::laugh:
I suggest that you leave any large amounts of money you have, in an account in the USA.
Withdraw small amounts here as you need to.
I see NO Positive reasons to have your cash here, NONE!
Your new extended family will soon see you as the "Go-To-Guy" when they want money!
When they do, you must always ask yourself, "What would they do if I weren't here???"
Then tell them to do THAT!
At first you will want to "Help Out".
You will want to promote "Good Will" with your new relatives.
DON"T DO IT!
It is a "Slippery Slope" that is hard to get free of!
Dominicans "Borrow" from anyone they can get money from, not just you.
You will just become the first person they ask.
They are used to being rejected, and just move down the list.
That is all they know. Doesn't make them "Bad People", they are just doing what their culture has shown them to be "what to Do".
In the DR, follow the old proverb, "Neither A Borrower, or "ESPECIALLY" a Lender BE!!!
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
Hi guys, Im new on the forum. I live half the year in a small village in the puerto plata region. Money wise the best thing is to get a relative from back home to send u cash when needed by caribe tour it cost like 5 chf from switzerland and they deliever tp u at home. Security wise, always have a gun handy, I always carry a handgun when about and I always have my shotgun handy at home and at "conuc". Dominicans are no worse than other people but the difference is that a 1000 dollars goes a long way here, be very careful in big towns and everywhere at night even, or especially, of the police.
All that said I love it here and have been verywell accepted by locals even though I never hand out anything....
All that said I love it here and have been verywell accepted by locals even though I never hand out anything....
PAYPAL is free to fund from your US bank account, and charges $1 to withdraw the funds on a PAYPAL debit and great exchange rate. It takes a few days to fund, but you can also use your US account as a back up funding method. BE CAREFUL, it has a VISA logo and can be used by anybody that steals it, and you will have a mess on your hands dealing with PAYPAL and your bank.
What a great idea, "Stash your money at the home of a family member for safe keeping"????
I, and hundreds of others on DR1ers, who live here, and are married to a Dominican, are still laughing about THAT idea!!! :laugh::laugh::laugh:
I suggest that you leave any large amounts of money you have, in an account in the USA.
Withdraw small amounts here as you need to.
I see NO Positive reasons to have your cash here, NONE!
Your new extended family will soon see you as the "Go-To-Guy" when they want money!
When they do, you must always ask yourself, "What would they do if I weren't here???"
Then tell them to do THAT!
At first you will want to "Help Out".
You will want to promote "Good Will" with your new relatives.
DON"T DO IT!
It is a "Slippery Slope" that is hard to get free of!
Dominicans "Borrow" from anyone they can get money from, not just you.
You will just become the first person they ask.
They are used to being rejected, and just move down the list.
That is all they know. Doesn't make them "Bad People", they are just doing what their culture has shown them to be "what to Do".
In the DR, follow the old proverb, "Neither A Borrower, or "ESPECIALLY" a Lender BE!!!
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
Woooee...slow down there hoss and read my last sentence "A safe in DR,in my opinion,should contain only important papers and never valuables for more than one night." And my Dominican family is 7 yrs old with me not new, check out Jax's blog.
What a great idea, "Stash your money at the home of a family member for safe keeping"????
I, and hundreds of others on DR1ers, who live here, and are married to a Dominican, are still laughing about THAT idea!!! :laugh::laugh::laugh:
I suggest that you leave any large amounts of money you have, in an account in the USA.
Withdraw small amounts here as you need to.
I see NO Positive reasons to have your cash here, NONE!
Your new extended family will soon see you as the "Go-To-Guy" when they want money!
When they do, you must always ask yourself, "What would they do if I weren't here???"
Then tell them to do THAT!
At first you will want to "Help Out".
You will want to promote "Good Will" with your new relatives.
DON"T DO IT!
It is a "Slippery Slope" that is hard to get free of!
Dominicans "Borrow" from anyone they can get money from, not just you.
You will just become the first person they ask.
They are used to being rejected, and just move down the list.
That is all they know. Doesn't make them "Bad People", they are just doing what their culture has shown them to be "what to Do".
In the DR, follow the old proverb, "Neither A Borrower, or "ESPECIALLY" a Lender BE!!!
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
All good advice though Criss,but im laughing right back at ya
Step away from the rum or whateverJax
All good advice though Criss,but im laughing right back at ya
Jax
Jax, Criss has been in DR for decades, married to a Dominicana. To be honest, I had the same reaction to your stashing cash with Dominican inlaws. I've had Dominican inlaws for 37 years, they're mostly upstanding professionals, and let me tell you, I wouldn't stash anything with any of them, especially cash.
And I think you're missing the point about the safe. Even if you only have papers in there, OTHERS will think you have something valuable in there, and a home invasion to find out what it is could turn very ugly very fast. You don't want to end up with a bullet in your [or a member of your family's] head because they don't get what they expected.
It's one of those things that just aren't worth the risk
Well,"Jax", go back to your post #25.
You clearly state that, "Having a Dominican family gives you other options for your safe!.
Doesn't sound like you are talking about a "7 year old".
Most people come to the DR with preconceived notions about what they are going to do here based on life in their home country, usually a "First World" country.
"Don't"!!!!!!
Most of those people don't pay much attention to the advice given to them on DR1 from "Old Timers", who have been here for decades.
"Do!"
That said, if you do "Make It" here, you will be amazed at how naive you were when you came, and how much your views about the DR, and it's people have changed over the years.
Once you are past the "Honey Moon " period with your new "Bride", and have to deal with the "Real DR", you will begin to understand what we mean.
Keep us posted on your transformation in the DR, from "Newbie" to Reality!
It's an interesting,educational, and a unique transformation.
Or, just disappear from DR1, like a thousand other "former" immigrants.
Best of luck, by-the-way!
I hope you are one of the lucky few who "Make-It-Here", in the DR!
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ps., If you are so worried about personal safety for you, and your family, here in the DR, that you actually built a "Panic Room' in your house, I think you may find living here, uncomfortable????
You clearly state that, "Having a Dominican family gives you other options for your safe!.
Doesn't sound like you are talking about a "7 year old".
Most people come to the DR with preconceived notions about what they are going to do here based on life in their home country, usually a "First World" country.
"Don't"!!!!!!
Most of those people don't pay much attention to the advice given to them on DR1 from "Old Timers", who have been here for decades.
"Do!"
That said, if you do "Make It" here, you will be amazed at how naive you were when you came, and how much your views about the DR, and it's people have changed over the years.
Once you are past the "Honey Moon " period with your new "Bride", and have to deal with the "Real DR", you will begin to understand what we mean.
Keep us posted on your transformation in the DR, from "Newbie" to Reality!
It's an interesting,educational, and a unique transformation.
Or, just disappear from DR1, like a thousand other "former" immigrants.
Best of luck, by-the-way!
I hope you are one of the lucky few who "Make-It-Here", in the DR!
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ps., If you are so worried about personal safety for you, and your family, here in the DR, that you actually built a "Panic Room' in your house, I think you may find living here, uncomfortable????
Jax just remember here in the DR perception is everything. Also information travels quickly here, ie: safe in the home. Even if it just contains papers. Just be very cautious on who knows your "business". Sometimes just a innocent conversation family members may have about your "business" may put you at risk. I have had my in-laws in my life for more than 22+ years and I would never ever leave anything of value with them. It is not just the trust thing either, I dont want them to be put in any type of situation due to they were "caring" for my stuff. I learned very quickly the less said about anything you have or may have is best. Never let anyone know too much.