What were the sending and receiving banks? How much did you send and how much were the total fees including any fees charged by your US bank? How were they able to get around the Dodd-Frank notification requirements? I used my Ameritrade brokerage account.
- Thread starter chico bill
- Start date
Wire Transfers becoming problematic
Perhaps this title should read -
US WIRE TRANSFERS BECOMING A PROBLEM
less confusion
US WIRE TRANSFERS BECOMING A PROBLEM
less confusion
Really William ? This caused you confusion ? Need another cup of coffee ?
problematic
adjectiveprob·lem·at·ic | \ ˌprä-blə-ˈma-tik \
variants: or less commonly problematical \ ˌprä-blə-ˈma-ti-kəl \
Definition of problematic
(Entry 1 of 2)1a: posing a problem : difficult to solve or decide
b: not definite or settled : UNCERTAINtheir future remains problematic
c: open to question or debate : QUESTIONABLE
2: expressing or supporting a possibility
Well my friend (fren).... I have no problem wiring funds
So - I'll step back
Good luck to you Americans..........
So - I'll step back
Good luck to you Americans..........
Who do you use in the US ? And who is your bank in DR. I'm thinking BanReservas may not have issues like BSC
I receive my transfers at BSC. Several other posters here do, too. I don't think the problem is with them - it's with your bank. You said they were doing an investigation. Why can't they determine where the transfer is? That should be very easy to do.
Yes. Close to useless. I guess you need a million or more in thier brokerage account to get leveled up
I'm waiting on my recent Schwab transfer to see if it processes. Both Chase (who was free and one day) and Bank of America no longer do transfers to DR, or at least to BSC.
I will miss free transfers. Paying $45 per transfer means larger transfers instead of more rational ones to minimize transfer fees.
Dodd - Frank should be repealed. It's done nothing but complicate and making banking more expensive, forced many to close or sell off due to stress tests that only bigger banks could comply with.
I send NO transfers from the US or Canada
I have been offshore since 1995
RD bank Is Scotia - formerly I had Progreso
I don't get this whole problematic wire thing; I've done wires to the DR for years and have never experienced any issues at the USA end at all, here, perhaps had to show the source of the funds being wired but no issues at the USA end at all, ever.
And free wires?
Never had that luxury either, always paid for all of my wires.
The sky isn't falling.
Same here no problem to wire transfer from US to DR.
Doing this very regularly from my BOFA account to my Scotiabank account .
Last time was just a couple of weeks ago..Amount was just below K$10...Reached my US Scotiabank account in less than 48 hours.
Doing this very regularly from my BOFA account to my Scotiabank account .
Last time was just a couple of weeks ago..Amount was just below K$10...Reached my US Scotiabank account in less than 48 hours.
Money was successfully deposited at BHD from BOA, 45 fee, done on January 8, 2021
Thanks for posting substantiated evidence.
I had similar message from Chase Bank. So I switched to using Xoom via Paypal (connected to my Chase account).
Works well and quickly. No fees, and normal exchange rate of the day. I've only sent to bank accounts local to DR. BHD, etc. Haven't tried any cash pickups or anything of the sort.
Works well and quickly. No fees, and normal exchange rate of the day. I've only sent to bank accounts local to DR. BHD, etc. Haven't tried any cash pickups or anything of the sort.
I used xoom for four years, until they asked me for copies of tax returns. Then I switched to Remitly. Better exchange rates and no $4.99 fee. Three days to transfer from bank account to Caribe Express.