Sending Money from DR to the US when in the USA

[LionKing64]

Hi,

Has anyone had to send money from DR to the US when stateside. Also, what is the max sum that can be sent? I know more than 10k might trigger a flag cause some issues that one might have to complete some additional paperwork. I'm looking to remove some funds from a failed real estate deal.

Thanks,

- Kevin

 

[william webster]

Have your lawyer send it to you....

 

[LionKing64]

Have your lawyer send it to you....

The money was in my personal account in Dominican Republic. It didn’t make it far enough to have a lawyer involved

 

[AlterEgo]

You can wire bank to bank. Anything over 10K will be reported to USA. My in-laws have wired us money from DR many times

 

[Grampa]

The money was in my personal account in Dominican Republic. It didn’t make it far enough to have a lawyer involved

Why not just wire it to yourself, doing whatever is required legally for paperwork? You got the money sent to the DR, surely you can justify and explain the source and rational. What's the issue you're having? Sometimes you just have to go through the process, comply with the rules and regulations and suck it up.

 

[LionKing64]

Why not just wire it to yourself, doing whatever is required legally for paperwork? You got the money sent to the DR, surely you can justify and explain the source and rational. What's the issue you're having? Sometimes you just have to go through the process, comply with the rules and regulations and suck it up.

The big issue I’m having is I’m here in the states so I’m trying to initiate a wire transfer requires me to sign paperwork in the DR. So the other caveat is I’m not sure if they require extra information and if so how long of a trip do I need to take to the DR to make sure the process goes smoothly.

 

[AlterEgo]

The big issue I’m having is I’m here in the states so I’m trying to initiate a wire transfer requires me to sign paperwork in the DR. So the other caveat is I’m not sure if they require extra information and if so how long of a trip do I need to take to the DR to make sure the process goes smoothly.

Ah, I missed that part. I see a trip in your future. Sorry

 

[playacaribe2]

The money was in my personal account in Dominican Republic. It didn’t make it far enough to have a lawyer involved

For future reference, grant someone who you trust, power of attorney. I have done it this way several times. They can then transfer it to you. Or as has been suggested, find a reason to come to the DR.


Respectfully,
Playacaribe2

 

[LionKing64]

Thanks, @

For future reference, grant someone who you trust, power of attorney. I have done it this way several times. They can then transfer it to you. Or as has been suggested, find a reason to come to the DR.


Respectfully,
Playacaribe2

Thanks, for your advice but finding someone to trust with enough money to change there life seems to be another issue in the making jajaja. I think I'm gonna have to plan for a trip.

 

[LionKing64]

I was wondering if anyone has opened a Citibank N.A account in DR and if you can access the money from the US since that is the only US bank that has a branch in the DR. https://www.citibank.com/icg/sa/latam/dominican-republic/

 

[Grampa]

There is no workaround with trying to use any North American bank to send yourself large sums of money, any amount really.

There are banks with "relationships" and there are branches like Scotia Bank that are in name only but no way to e-transfer from the DR without following the rules ands process. Perhaps bitcoin or the like but with the volatility and the difficulties of using a Dominican bank make it unlikely or impractical.

Sorry but you're stuck. Enjoy your next visit and be glad you did not succumb to a bad real-estate decision.

 

[LionKing64]

There is no workaround with trying to use any North American bank to send yourself large sums of money, any amount really.

There are banks with "relationships" and there are branches like Scotia Bank that are in name only but no way to e-transfer from the DR without following the rules ands process. Perhaps bitcoin or the like but with the volatility and the difficulties of using a Dominican bank make it unlikely or impractical.

Sorry but you're stuck. Enjoy your next visit and be glad you did not succumb to a bad real-estate decision.

Thanks I guess a trip is in order... I should update my real estate thread with the final outcome.