Good Morning, I am a new member to this site, and I have a question I would like to know if the Scotia Bank charges for deposits from the United State

Elelyon1957

New member
Feb 13, 2010
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Good Morning, I am a new member to this site, and I have a question I would like to know if the Scotia Bank charges for deposits from the United State
 

Manuel01

Well-known member
Apr 1, 2009
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What yo mean by "deposits" ??? You wire US$ from the US Account to your Scotiabank account ?
Your Scotiabank Account is in US$ or RD$ ?
Here is the fee listing from scotiabank;

But you can't trust this Guys (Banks) anyway. To be really sure: send 100$ and see how much really makes it to your account.
 

La Profe_1

Moderator: Daily Headline News, Travel & Tourism
Oct 15, 2003
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If the deposit is from the US, does that imply that it is accomplished by wire transfer?

Most banks charge fees for wire transfers,; not only for sending but also for receiving.
 

AlterEgo

Administrator
Staff member
Jan 9, 2009
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If the deposit is from the US, does that imply that it is accomplished by wire transfer?

Most banks charge fees for wire transfers,; not only for sending but also for receiving.

Exactly. We just received a wire transfer from DR. DR bank charged $40 to send it, USA bank charged $20 to receive it.
 

JLSawmam

Newbie
Sep 8, 2018
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It would be best, if doing a wire transfer, to transfer USD into a USD account. Otherwise, you would lose on the exchange rate what could be had locally at various places to change currency, Also consider what your US bank may charge for a wire transfer and how often you may wish to do so. No need to lose money paying fees if you could just transfer a little more and avoid doing it again for a while.
 

Elelyon1957

New member
Feb 13, 2010
9
0
1
What yo mean by "deposits" ??? You wire US$ from the US Account to your Scotiabank account ?
Your Scotiabank Account is in US$ or RD$ ?
Here is the fee listing from scotiabank;

But you can't trust this Guys (Banks) anyway. To be really sure: send 100$ and see how much really makes it to your account.
Thank you for the listing
 

Elelyon1957

New member
Feb 13, 2010
9
0
1
It would be best, if doing a wire transfer, to transfer USD into a USD account. Otherwise, you would lose on the exchange rate what could be had locally at various places to change currency, Also consider what your US bank may charge for a wire transfer and how often you may wish to do so. No need to lose money paying fees if you could just transfer a little more and avoid doing it again for a while.
Yes it would be US to US
 

AlterEgo

Administrator
Staff member
Jan 9, 2009
23,372
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South Coast
the deposit would be my retirement from the United States to Dominican Republic Scotia Bank

If you mean your Social Security (or pension), I recommend opening a dollar account in DR. Keep your money in USA bank, and write checks to the Dominican back account as needed. That’s what we do. They do take up to 2 weeks to clear sometimes so a little planning is necessary
 
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Elelyon1957

New member
Feb 13, 2010
9
0
1
If you mean your Social Security (or pension), I recommend opening a dollar account in DR. Keep your money in USA bank, and write checks to the Dominican back account as needed. That’s what we do. They do take up to 2 weeks to clear sometimes so a little planning is necessary
Thank you!
 

NanSanPedro

Nickel with tin plating
Apr 12, 2019
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Good Morning, I am a new member to this site, and I have a question I would like to know if the Scotia Bank charges for deposits from the United State
Yea I'm another retiree with a pension, SS, and a 401k. All are in US banks. I do use Scotia Bank and BanReseva for ATM withdrawls as their fees are the lowest. I take about 90k pesos/a month out in cash, staggered of course over the month. Rent is paid in cash. I have no desire to open a DR bank account.