From a Facebook post in the Dominican Republic Expats group "Just some info for people wanting to get direct deposit here. My friend just went to embassy (usa) and they filled out all necessary paperwork for bank scotia, he then went to bank and opened account and got a debit card, all in a couple hours." I know there are varying opinions of such things among our DR1 friends, but it may be an option for some to consider.
- Thread starter JLSawmam
- Start date
US Social Security direct deposit
That person is now obligated to receive a form EVERY year and sometimes twice and get it to SS in the US. Failure to do this and SS and Medicare is cancelled. This is because his primary address is out of the US. Bad idea.. This below will accomplish the same thing with any US address. The card is International and works in the DR. Better option...
directexpress.info
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Stories THESE STORIES FEATURE REAL DIRECT EXPRESS® CARDHOLDERS WHO HAVE GRANTED THEIR PERMISSION FOR THEIR PICTURES, QUOTES AND STORY TO APPEAR ON THIS SITE. THE DIRECT EXPRESS® TEAM NEVER SHARES PERSONAL INFORMATION WITHOUT EXPLICIT PERMISSION OF THE CARDHOLDER. References Download...
directexpress.info
https://www.usdirectexpress.com/faq.html Good info here on the Direct Express card. I suggest those interested look at the fees for using the card outside the US...not terrible but not zero either. I understand the concern about having to fill out forms each year...each person has to decide what it best for them. Personally, when the time comes for me, I'll likely opt for direct deposit in my US account, same as my military retirement
I can tell you what you want to know. If you use it out of the US the fee is 3%. However there is NO FEE for any online purchases. Airplane tickets, Amazon or Ebay purchases or anything else you buy online. So if you spent say $1,000 in groceries or stores here they would deduct $30 US. A cheap price to avoid the OP's original post and having "Big Brother" to deal with the rest of your life........And the money is like clockwork on your card at midnight of the day of the month assigned to your card......
And you can use it anywhere in the World that accepts Mastercard........
I'm just suggesting those who care to know more look through the info in the link I gave. If you use it and are happy, great! ATM fees outside of the US are also $3 per transaction and 3%, so not a super option for getting cash. For anyone who is relying on it for their income here, it's not going to work very well. Everyone can make their own decisions...information never hurts. BTW, I did find it interesting that in the US, the cardholder only get one free ATM withdrawal per month for each deposit to their card account...that kinda sucks too! MasterCard is obviously happy with the more merchant fees they can get.
It's not a good thing if a $3 fee is going to make or break your monthly budget......
I would never, ever arrange for direct deposit of SSA or anything else to a Dominican bank. I minimize the number of transactions, if at all possible, but the $12? $15 I spend for monthly withdrawals? Not really a thing I lose sleep over.
$3 plus 3% of the withdrawal amount...so about $13 if withdrawing 20,000 pesos.
Not everyone needs to even use an ATM. I don't. I use the card for airline tickets, hotel fees online, Amazon, Ebay. Pay ZERO for all these. And you never addressed having to send the forms to SS once or twice a year. How do you do that for free, and knowing if it gets lost your SS is CANCELLED.........
As my mother used to say "Penny Wise and Lb. Foolish"...........
Never my intent to address that. You brought it up, which is good. And I am not arguing with you about this Direct Express card. I'm merely pointing out some details and gave the link where others can inform themselves. They can make their own decisions on what works for them.
Since 2017 I have filled out that form SSA-7162. The first few years I sent it electronically to the US embassy. The last couple of years I need to sent it directly to SS. I have a dollar direct deposit account with Banco Popular and have never had any problems with receiving my pension. I know a few other pensioners with the same set up. No big deal...That person is now obligated to receive a form EVERY year and sometimes twice and get it to SS in the US. Failure to do this and SS and Medicare is cancelled. This is because his primary address is out of the US. Bad idea.. This below will accomplish the same thing with any US address. The card is International and works in the DR. Better option...
Home
Stories THESE STORIES FEATURE REAL DIRECT EXPRESS® CARDHOLDERS WHO HAVE GRANTED THEIR PERMISSION FOR THEIR PICTURES, QUOTES AND STORY TO APPEAR ON THIS SITE. THE DIRECT EXPRESS® TEAM NEVER SHARES PERSONAL INFORMATION WITHOUT EXPLICIT PERMISSION OF THE CARDHOLDER. References Download...
I have a better deal. I get my money for years doing nothing.............
This works. Costs nothing. Have SSA direct deposit to your US bank. Open dollar and peso account here. Write check here and draw on your account in dollars. Allow 4-6 day. Then use dollars and go to cambio for SIXTY peso exchange.
Plan ahead for your needs and then never need to use ATM.
Almost 5 years. Never fails.
Plan ahead for your needs and then never need to use ATM.
Almost 5 years. Never fails.
