Payment for future apartment rental via PayPal

[Rob]

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

[Lola]

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



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[cbtx]

[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.

[Rob]

[QUOTE=cbtx;204160]

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.

Cbtx,

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.