Russell I transfer from my RBC acct to my BHD account. I transfer in American funds which RBC converts from my Canadian acct. Thanks to Trudeau we have a terrible exchange rate loosing 30 cents on the dollar but it is what is . 1800 American is aprox 2400 Canadian. I am limited to 2500 CAD each transfer. Anyways it arrives in my BHD acct in US funds and they take 7 dollars. Usually takes 2 or 3 days.Very interesting indeed!
As previously posted I am going through the process of obtaining a Residency here in DR.
I made it very clear that I wanted a Permanent Residency due to my Pension being substantially greater than the minimum requirement.
However I have been relegated to accept a temporary Residency by order of the DMG.
Now there is a silver lining in that cloud ; if DMG can guarantee that I shall be alive and breathing in another year to reapply; then I am quite prepared to do so.
In the past I transferred funds from the Canadian Bank to the Bank Reservas which my family uses here in Luperon.
By the time the funds reached our local bank we had lost $750.00 CDN through Banking fees and exchange.
They stated that the CDN funds had to be converted first to USD then to Pesos... All strictly Bull Ship!
I shall never have funds forwarded to our local Bank again.
My pensions are going to stay in Canada and we draw from there .
We use the VISA for food and Hotel etc. and simply transfer payments electronically from our CDN Bank.
Other than we use the ATM's at several safe places.
The funds are spent here; so that has to be compliant.
I am old (77), stubborn, cynical, bull headed and several more excellent attributes ; There are other countries that are willing to accept our Pensions and family.....
Not really an issue.
It is called,where I am from, "shooting one self in the foot!"
AH, I do so feel better!!!