NALs and PICHARDO, say it ain't so!

[Barnabe]

I know plenty of honest Dominicans.

What I having a problem meeting here in the DR though are honest/decent expats.

Chip and CC, DR1's ying and yang:lick:

 

[Taino808]

The "Cedula" story is in all the newspapers here.
Her speech was printed as she gave it.
I don't know the guy you mentioned.
And,you must be a VERY LONELY honest Dominican!
The mere fact that you claim to be "PROVES" that you are NOT!!!!!!
I think it was the American Thomas Payne who said;"Show Me An Honest Man"
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I have absolutly no need to "Demonize" any Dominican,you all do a great job all by yourselves!!!!!!!!!!!!
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Why the hostility?

Anyhow, I'm not trying "prove" my honesty to you or anyone else for that matter, I simply mentioned it because you questioned it in your post above, but now that you brought it up, 12 years of construction work, and previous buyers keep coming back is a testament to my honesty. Whether you choose to believe it or not it's up to you.

 

[Chirimoya]

Three months is 90 days, not 45 working days, regardless, what does this have to do with what I posted? I am questioning money transfer, and the limits allowed by US laws.

Working days -as opposed to calendar days- stretches 45 days to between two and three calendar months. That's how long Banco de Reservas takes to clear a US cheque when you pay it into your US$ account. Banco Le?n takes even longer. This may have improved since two or three years ago when I last did this - never again.

My point being that when I asked why on earth it took so long they said it was due to anti-money laundering measures, which is probably BS. You are right that a transfer does not take anywhere near that long - so where's the logic?

 

[Chip]

The last couple of years it has taken 3 to 4 weeks for my US tax return check to clear at Banco Popular.

 

[AlterEgo]

Working days -as opposed to calendar days- stretches 45 days to between two and three calendar months. That's how long Banco de Reservas takes to clear a US cheque when you pay it into your US$ account. Banco Le?n takes even longer. This may have improved since two or three years ago when I last did this - never again.

My point being that when I asked why on earth it took so long they said it was due to anti-money laundering measures, which is probably BS. You are right that a transfer does not take anywhere near that long - so where's the logic?

Chiri, last year I deposited a NJ check into our BHD dollar account, and asked how long before it would clear. I was told about 10 days. It took about 4 weeks. When I checked my online account, it had cleared my US account in 3 days.

Aggravating, to put it mildly.

Amazing how closely they monitor us 'little guys', guess that's how the 'big guys' slip by them.....while they're "distracted".

 

[cobraboy]

Chiri, last year I deposited a NJ check into our BHD dollar account, and asked how long before it would clear. I was told about 10 days. It took about 4 weeks. When I checked my online account, it had cleared my US account in 3 days.

Aggravating, to put it mildly.

Amazing how closely they monitor us 'little guys', guess that's how the 'big guys' slip by them.....while they're "distracted".

4 weeks of interest-earning float.

It adds up.

 

[Criss Colon]

So now we know who chip's partner is!
"Dumb & Dumber" build a house!
Opening soon in a "barrio" near you!
Don't miss it!
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[jackichan]

So now we know who chip's partner is!
"Dumb & Dumber" build a house!
Opening soon in a "barrio" near you!
Don't miss it!
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Why all the negative energy,, sit down, relax and enjoy the few days you still have left lol

 

[Taino808]

So now we know who chip's partner is!
"Dumb & Dumber" build a house!
Opening soon in a "barrio" near you!
Don't miss it!
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I sometime ask why your so belligerent towards others? I have yet to come up with a satisfactory answer to this, but don't worry I will. Also while both Chip and I do live in Santiago, I must admit, we have yet to meet each other.

 

[AnnaC]

I sometime ask why your so belligerent towards others? I have yet to come up with a satisfactory answer to this,

We pay him extra for every poster he can irritate.

 

[Randall Bell]

At best this is pure US propaganda.

As transfer laws stand, right now it's practically impossible to transfer more than two thousand dollars at a time from the US to DR in one single transfer. If you try to transfer any more cash, you would need to submit to a DNA test, rectal exam and god knows what else.

Two weeks ago I began to remodel (read enlarge the "marquecina") to a house I sold to a lady way back in 2004. Note, this lady bought this house as her retirement home but currently lives in New Jersey.

After contacted me for the remodeling of said house, we began the preliminary work to determine the cost for such work. I then proceeded to explain the procees and what the cost of such work would be. Total cost of said remodeling was RD$365,000.00, or at current exchange rate, a little less than $10,000.00 dollars.

As soon as the house owner returned to the states, she began to wire transfer the cash to me, this process took some seven (7) transfer to seven different people.!

Now my question: How does anyone get over on the laws to transfer large quantities of cash to then launder it here in DR, as stated in the quote above? If large quantities of cash is being transferred from the State to the Island, I'd like to know how is being done?

Good morning,

Not sure I follow this logic. I have wired about $8k to myself from the US to a Dominican Bank account, consistently every 6 months for the past 3 years... always hassle free, I just email my banker, and they wire it no questions asked. From time to time I have to fax something in, it always arrives in 3 days...

 

[Barnabe]

We pay him extra for every poster he can irritate.

Diantre, QUE BOTELLA!!!!

Barnab?

 

[AlterEgo]

Good morning,

Not sure I follow this logic. I have wired about $8k to myself from the US to a Dominican Bank account, consistently every 6 months for the past 3 years... always hassle free, I just email my banker, and they wire it no questions asked. From time to time I have to fax something in, it always arrives in 3 days...

Me too Randall. Taino, I live in NJ. Went to my bank, filled out a form, paid $45, they transferred $8,000 from my NJ account to my DR dollars account. It took 2 or 3 days.

 

[Randall Bell]

That story about the 68 Cedulas (which by the way DID happen, it was in the news the other day), may have less to do with money laundering, and more to do with selling the CEDULA's to ambitious baseball players that want to be "14" with a beard... lol.

For those of us searching to buy a house these days, this story is eye opening. If the market is 'propped up' by money laundering, then perhaps the prices we're paying...we're just competing with people who don't care what it costs, and perhaps the market value may be falsificada

 

[Taino808]

Good morning,

Not sure I follow this logic. I have wired about $8k to myself from the US to a Dominican Bank account, consistently every 6 months for the past 3 years... always hassle free, I just email my banker, and they wire it no questions asked. From time to time I have to fax something in, it always arrives in 3 days...

You have answered your own query, if it's a bank to bank transfer I believe theres less questioning. However, when the transfer is from one private individual to another, that's when they become suspicious.

 

[Criss Colon]

Twenty years ago,you could buy a large,more than 100"tareas,for a few thousand pesos for "tarea".
Grow "Yuca" and "Plantanos" and live "Happily Ever After!"
THEN,all the drug money started pouring in!
Now,the ground is worth much more than the crops you can grow.
It doesn't matter to the "Drug Barrons",they just need a safe place to "park" their dirty money!
A "normal" person who just wants to "farm",can't afford to buy the land,or to grow the crops.
We all pay for that,everytime we buy food.
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[william webster]

Me too Randall. Taino, I live in NJ. Went to my bank, filled out a form, paid $45, they transferred $8,000 from my NJ account to my DR dollars account. It took 2 or 3 days.

This is beating an old horse.

Many of us wire money on a regular basis.... mine are $5,000 or $10,000 amounts.

From my bank to ScotiaBank here.
Always 2 days, never a question from anybody.

Its not worth all this whining.......

 

[william webster]

Twenty years ago,you could buy a large,more than 100"tareas,for a few thousand pesos for "tarea".
Grow "Yuca" and "Plantanos" and live "Happily Ever After!"
THEN,all the drug money started pouring in!
Now,the ground is worth much more than the crops you can grow.
It doesn't matter to the "Drug Barrons",they just need a safe place to "park" their dirty money!
A "normal" person who just wants to "farm",can't afford to buy the land,or to grow the crops.
We all pay for that,everytime we buy food.
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Bring in the detectives and the forensic auditors...............

that sounds dangerously like a Pi2 statement

 

[Criss Colon]

Bill,that's a really low shot!!!!
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[william webster]

Twenty years ago,you could buy a large,more than 100"tareas,for a few thousand pesos for "tarea".
Grow "Yuca" and "Plantanos" and live "Happily Ever After!"
THEN,all the drug money started pouring in!
Now,the ground is worth much more than the crops you can grow.
It doesn't matter to the "Drug Barrons",they just need a safe place to "park" their dirty money!
A "normal" person who just wants to "farm",can't afford to buy the land,or to grow the crops.
We all pay for that,everytime we buy food.
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The devil made me do it !!!