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Thread: International Banking Question

  1. #1
    Tia
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    Default International Banking Question

    This is perhaps a wrong place to place this question. (Mods feel free to remove it if that's the case)

    My brother has been receiving his social security benefits from USA in his bank account in Samaná. The bank is, however, refusing to send his money over to his bank account in Finland. He has sent them all the necessary info and paperwork, spoken with the bank manager etc. and NOTHING. The manager says they are not under any obligation to send foreign currency out of the country. This sounds like total BS to me.

    Would appreciate any info, comments, experiences about money transfers from bank to bank in and out the DR.

    Cheers,
    Tia

  2. #2
    SKY
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    Your Payments When You Are Outside The United States

    Go to this site. You will see that you can have your SS payments deposited directly into your bank in Finland.

    You can call the toll free number of SS to change your address. If you are calling from the DR dial 880 instead of 800 plus the number.

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    Tia
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    Thanks for the info. It certainly seems to be the best option next time he intends to saty in Europe for a longer period, since he doesn't seem to be able to get hold of his money through the Dominican bank.

    Maybe he should have his benefits sent directly from USA to his bank account in Finland and have the Finnish bank re-direct the funds to his Dominican bank during the months he's staying there.

    Quote Originally Posted by SKY View Post
    Your Payments When You Are Outside The United States

    Go to this site. You will see that you can have your SS payments deposited directly into your bank in Finland.

    You can call the toll free number of SS to change your address. If you are calling from the DR dial 880 instead of 800 plus the number.

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    Quote Originally Posted by Tia View Post
    Maybe he should have his benefits sent directly from USA to his bank account in Finland and have the Finnish bank re-direct the funds to his Dominican bank during the months he's staying there.
    Which bank in the DR does he use? If it is Banco Popular or Banco Leon or a few others, he can open a DR peso account that has an ATM card associated with it. He will then be able to easily transfer his money from his US Dollar account into the DR peso account (that has the ATM card associated with it) via internet banking. He will then have instant access to his money form anywhere in the world. Of course, if he needs the money to be in another foreign bank he can deposit it there after withdrawing it from the ATM. This may not be ideal if your bother stays out of the DR for extended periods of time but if it is for a few months this may actually be the better solution.

    NotLurking

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    Tia
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    This is good. I don't have all the details but I believe it's some smaller bank and he needs to change banks to one that has full services. All he would need is an ATM card with VISA decal and he would have access to his own money. Why didn't I think of that?

    (I travel to Colombia and use my ATM card there to withdraw pesos from my account in Sweden)

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    Quote Originally Posted by Tia View Post
    All he would need is an ATM card with VISA decal and he would have access to his own money.
    I know Banco Leon offers Visa Check cards (ATM card with the Visa Logo) that can be use both as a 'visa card' for purchases (doesn't require the input of your personal pin) and as a regular ATM card. Banco Popular does issue an ATM cards that can be used anywhere in the world but it is NOT like a 'Visa check card'. Banco Popular uses the Maestro network (Master Card affiliate) and has global access through Cirrus financial network.

    NotLurking

  7. #7
    Tia
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    Yes, MasterCard affiliates would work too in Finland. I'm forwarding all this info to him in Finland. Thanks for your help.

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