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I am looking into a long term rental in Negril. For the periods when I am not in Jamaica, is it possible to use PayPal linked to my US Bank to pay rent (and other costs) to a Jamaican bank account? I looked into international wire transfers but the cost was prohibitive. I prefer not to send funds via Western Union or Moneygram.
You might try Xoom. I know they can transfer out of a US account to Canada. Flat fee of $4.95. It is owned by PayPal
www.xoom.com
I think it would be possible to use PayPal, as long as the person your paying uses it. I have paid deposits on rentals in several foreign countries and currencies and it worked great! I have not used it in Jamaica though.
There is nothing "country" specific as far as Jamaica (in my experience), I have been using PayPal to get money to my best friend at the house in Accompong Town for nearly 10 years now. Of course, what I do is give him a card and he uses the ATM to get the money but I wouldn't think that would make any difference. I will be interested to see if others have tried to send it to someone in Jamaica's account and they did have a problem though.Quote:
Originally Posted by agregory
Peace and Guidance
Jamaica is one of the countries that although Paypal lets you directly pay for things, you cannot directly receive payments. Your account can accumulate the minimum amount for Paypal to cut a check, then they will mail you a check. That takes usually between 4 to 6 weeks, then once you receive it, you deposit it and that take 30 business days to clear. The person receiving the payment does not get it for at least two months.
Accompong, the card you gave your best friend was an ATM card you received in the States from your bank as if you were using the card, correct?
Because of the lotto scamming, payments from other countries are not easy.
Yes. Marshall had a card in his name on my US Paypal Account. Thanks for the update on how it works there. I have always wondered if it was different.Quote:
Originally Posted by Rob
Peace and Guidance
Rob - Paypal's sister company, Xoom, appears to differ from what said above and does allow you to send money to a Jamaican bank account. Do you know anyone who uses this?
http://https://www.xoom.com/jamaica/send-money
Thanks - Tom
Tom,
You asked about Paypal, not Xoom. Xoom is owned by Paypal as a separate company. Paypal requires a check to be drawn and sent... As I answered Accompong...
https://www.paypal.com/cgi-bin/websc...72275b28239088
I know no one who uses it, but even if I did, that doesnt mean that the person you are renting from will. So please be sure to check with them and ask them to make it available for you.Quote:
Originally Posted by Tom Hudson
I think I know why I have not heard about anyone using bank deposits... 18 fun filled pages!
http://www.boj.org.jm/pdf/remittance_guidelines.pdf
Used to be able to send through XOOM for pickup at Victoria Mutual Bank until they restricted it to a maximum $300 usd. The recipient would have to go somewhere like World of Sports in Negril to pick up larger amounts, not convenient and more risk to carry it farther.
I've used Xoom to send money to a bank account. That also got ruined by a later requirement to pick up from a bank in Montego Bay, after filling out some forms {sigh} XOOM is really good about cancelling transactions if you end up in a mess like that and don't want to continue.
Currently I send directly to bank account, just need the bank's SWIFT number, recipient account number, their real name and address. The acknowledgement usually says about 7 days to reach their account but it often gets there sooner; they can call the bank and ask.
I bank with Schwab, an international wire costs $35. Its VERY EASY to do once you have the bank and account info. And they don't have to travel with cash.
If the recipient has a USD account (and you send USD) that's good. You can also send to their Jamaican dollar account, but there will be conversion fees on their end, which comes out of what you have sent them.
FYI, the SWIFT for NCB is JNCBJMKX B-I-N-G-O ee-eye-ee-eye-oh LOL
.
[QUOTE=Lola;204137]Used to be able to send through XOOM for pickup at Victoria Mutual Bank until they restricted it to a maximum $300 usd. The recipient would have to go somewhere like World of Sports in Negril to pick up larger amounts, not convenient and more risk to carry it farther.
Lola,
Very interesting about a $300 limit per transaction with Xoom at VMB. That is great information to have before we go.
Where is World of Sports and why is it more risky? Do they allow as much as $1000 US per transfer?
Otherwise its multiple trips to an ATM (where I assume there is also a maximum withdrawal limit) and the risks that go along with ATM usage. Or multiple trips to cambio with risks, etc.
[QUOTE=cbtx;204160]Cbtx,Quote:
Originally Posted by Lola
The us$300 limit is because of the requirements of the US that limits daily transaction. This is due to the US money laundering laws. You cannot have a $1000 transaction other than buying something at a store.
World of Sports is right next to Value Master. As for being "risky", this is a xoom transfer location inside a store. Anyone in the store can witness your transaction. It is not an enclosed ATM, thus more risky.
The best solution, while on vacation anywhere is to make sure that you have the best ATM card for international transactions and take out what you need for a day or two. Many places accept cards now so you can save your cash for the smaller places. I would avoid using your card for cash advances unless unavoidable.
I sent a sample payment of $300US to a friend's NCB account. The cost on my end was $4.99US and there was no cost on the receiver's end. The exchange rate was $128J/$1US. I sent the funds on 7/30 in the AM and the funds were available by 7/31 at the end of the business day. I'm very happy with this. Thanks cbtx for the referral!
Quote:
Originally Posted by Tom Hudson
What did you send it with? THanks
Cap
He used Xoom.comQuote:
Originally Posted by captaind
You are very welcome, sadly for my purpose it won't work in Negril but it is a easy and inexpensive way to transfer $. Glad it worked for you.Quote:
Originally Posted by Tom Hudson
Tom,Quote:
Originally Posted by Tom Hudson
Excellent! Glad to know that this worked for you! For future reference for others, did Xoom say what the daily limit per transaction is, and did the recipient had to do anything on their end?
Thanks man!
Rob - I didn't see a limit on xoom's website. I just picked $300 based on comments above. I'll try and send a higher amount before I come back down on 20/8. My friend confirmed the funds were in their account. No action was needed on their end. Xoom also texted and emailed both of us with status updates. This certainly beats waiting in line at Moneygram/Western Union locations only to be told (at times) that they a) are out of money b) your ID/paperwork is not proper c) some other BS reason(s).Quote:
Originally Posted by Rob
Mine was simply a transfer to an existing NCB savings account. Funds sent by Xoom for pick up most likely have defined rules for pickup ID, etc. I do not have direct knowledge of those.
Tom