PayPal can now withdraw to DR accounts

rafael

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Jan 2, 2002
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www.dr-tourist.tv
As the ttle says, PayPal users can nwo withdraw (and I suppose deposit) money into their PayPal accounts form DR bank accounts, either pesos or dollars denominated. The first DR bank to sign the agreement with PayPal, Banco Popular.

http://www.dominicantoday.com/dr/te...t-Dominican-bank-PayPal-pact-account-services
Great news. Will get the wife signed up for paypal account today. She has additional card on my account but having her own would be nice as well.
 

caribmike

Well-known member
Jul 9, 2009
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If you don't mind explaining (I couldn't find the exact information on Paypal's website), how much does Paypal charge for sending dollars from a Paypal account to a Dominican Bank? Does the Dominican Bank charge anything to accept the money? Can you give an example of the breakdown of the fees for a transaction using the sum of 1,000 US transferred? Thanks!
https://www.popularenlinea.com/pyme/paginas/paypal/paypal.aspx

BPD charges 10 USD per transfer from paypal.
 

windeguy

Well-known member
Jul 10, 2004
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Silly me, I thought it would be like other countries where you get money deposited from PayPal into your account for free or very low nominal fee less than 1 dollar or euro. This is the DR, after all.
Exactly. Why be reasonable, when you can screw the client?
 

caribmike

Well-known member
Jul 9, 2009
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10 USD = exactly what I expected AND it takes 4 working days, of course BPD blames that on paypal...

Funny thing with USD transfers and BPD btw. At BPD it takes 3 - 4 days to be available in my account at my new BHD account it takes 12 hours... of course BPD blames the transferring bank here too... :cool:
 

rubio_higuey

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Feb 7, 2007
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Also the withdrawal process must be initiated from popular en l?nea and not from PayPal directly.
 

windeguy

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Jul 10, 2004
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NO!
You connect your bank account to PAYPAL and authorize ACH transfer capability.

PAYPAL to PAYPAL is an instant transfer.
That is the way it is done from PayPal to a US bank account where you set up the US account on PayPal and transfer money while on the PayPal website to that US account.

It was mentioned that n transfer to BPD could not be started from PayPal but had to be initiated on the BPD website. Hence my question of where the login in to PayPal would take place and if BPD would have any chance to access that PayPal login information.

It has already been mentioned that "instant" in the DR is a few days.
 

xstew

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Jul 4, 2012
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Does Paypal also charge something, maybe a percentage of the transfer amount?
I am not a great fan of Banco Popular. You face a non loyal facility.

i have a friend who was turned in to the IRS by B.P. He was cleared but it caused him months worry and large lawyer fees to
To clear it up. So beware!
 

playacaribe2

Well-known member
Jan 9, 2004
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So far we have a $10.00 payment taken by BPD;
A small Paypal fee to receive money via Paypal;
And is there not also a small fee/tax when withdrawing funds from a DR bank account?

So if the above is true.....it's less costly than a wire transfer, but also not instant.

Not quite sure of its benefits over lets say a Vigo or Xoom......perhaps the transfer is not capped as to the amount you can send daily/monthly etc., as it is with Vigo/Xoom.

Another option perhaps....but it does not appear to be a game changer.


Respectfully,
Playacaribe2
 

Kipling333

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Jan 12, 2010
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wow I can not believe all this ,Paypal makes their money by charging the seller and then pays the bank a commission...and now Banco Popular wants to make an extra charge .. what a rip off Hope another Dominican Bank can do better ..