I just got my direct express debit card and will be receiving my SS pension payment on it. The information they list on the website and give you when calling is sketchy and not real helpful. If anyone has any experience using one in the D.R. I would appreciate any tip and-or advice you could give me. some questions I have are- Which banks/ATMs are best and charge the least fee and-or have the highest withdrawal limits (today I discovered banco popular gave me 10,000 r.d. at an atm in Santo Domingo. Are there any banks or other places where you can go in to the bank teller and withdraw cash by presenting your card (their website says you can for free at any bank displaying the MC logo but all the banks and WU AND CARIBE EXPRESS have said no so far so maybe its in the USA only). Can you transfer money from the account to a local bank account if it is only in pesos or do you need a dollar account). Any other helpful hints or experiences will be greatly appreciated.
Thanks!
Mike Rombro
Direct Express Debit Card for social security pension questions
Hi Mike. I am zero help on this one. I am sure others will step up with information
Well to answer my own question I have since verified that Banco Popular is so far the best bank I have found in terms of using the Direct express debit master card from the SSA. I personally entered the bank to days and spoke to customer service rep and you can withdraw money from a bank teller by presenting your card and passport. I did not verify this yet but their website (direct express) says it is only limited by your available balance and is free of charge. So far I have withdrawn $10.000 pesos from the ATM and I understand the limit is $20,000.
Good info. Yes I believe your.limit is 20,000 per day. If you use the atm do,you pay fees? I believe you do. I think it is only without few at the teller.
Mikerombro - I wish only to add that I recently converted USD to DR pesos for my land purchase and when the checked around, we ended up going to Banco Santa Cruz because they provided the best exchange rate over Scotiabank, banco popular or banco reserva......higher by as much as 7 cents on the dollar. I will be trying the teller route for Scotiabank even though I have accounts in Canada and Moca with this bank...it may work out better - if it works.
Correct. I paid 195 pesos fee for a 10,000 peso atm withdrawal. I understand it is free from a live teller but have not done that yet. I could only withdraw 2,500 at both banreservas and bhd atms for about the same fee.
Those fees will kill you!
Actually I was wrong about the fee amounts. For an ATM withdrawal its $3.00 plus 3% and for purchases with the debit card its just 3%. I understand but have not yet verified that BANK TELLER withdrawal is FREE. Banco Popular confirmed that they do it. BHD and RESERVAS said no.
Good info thanks for the update.
I got my benefits approval letter from the SSA. My actual benefit payments will not start until May 22. So when do I apply for the Direct Express debit card?
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