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Transferring $ to NicaraguaSubmitted by paulruff on 5 August, 2006 - 06:12.
Good morning all What is the best way for me to transfer money to a Nica? I originally thought PayPal would work but the Nica has informed me that Nicaragua is not an "approved" country for PayPal transactions. I had sent them some US dollars via PayPal but they were unable to access the funds. What alternatives are there? Western Union, etc.? Thanks in advance for your thoughts. ( categories: )
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moving to Nicaragua
What is the best way to move household goods from Houston to Nicaragua.
I am very interested in buying a small place in Nicaragua.
sending money to Nicaragua
The best way to send money is through a bank. It is quite inexpensive. Your US bank will charge you a wire transfer fee. Then the person receiving the money in Nicaragua will charge a processing fee. Open up a bank account in Nicaragua is probably the easiest.
transfering money?
does any one one know how to transfer money from Nicaragua into an account in the U S? someone owes me money. would like to get my money back? Any suggestions?
Same Link - Posted Below
http://www.nicaliving.com/node/2675
Miskito Alan ®
same link - change
The B of A ABA number is no longer 066-00-7681 the new number is 026009593.
One reason that it takes a couple of days to complete the transfer is because no matter which bank you use in the US to purchase a wire transfer the money must first go to the Federal Reserve Bank before it can go to the B of A in Miami and then it goes to the beneficiary bank in Nicaragua.
Old Number? - Not In Use?
Ha-Ha-Je-Je
That number was still the one to use this week when I received a wire transfer from AmSouth to Bank of America in Miami to BanPro.
"No longer in use?" - I get my money the same day.
All money wire transferred is sent on the "Fed Wire"; but, does not go to any Federal Reserve Bank.
The reason that I use the above number is because that number is the international wire transfer department for "Bank of America" and if the money is deposited by 11am (ET); the money will be in the "BanPro" by 3pm the same day and credited to the account.
Miskito Alan ®
old number
That's strange. How long ago did you use that old number? I used that first number when I had someone transfer money from Calgary to Managua and it worked okay. I used the 810660076 number a month later to transfer money from here. A week later the funds still hadn't arrived. They said that I was using the wrong number and they gave me that new number which I have used with no trouble twice since. They said that it wasn't just the number for the Miami branch but that it applied to all B of A's.
Thr beneficiary bank in my case was Bancentro in Managua and their account number is 1901 2 29804.
I have used one of the local Credit Unions and the B of A and they both told me that all international wire transfers must go through the Federal Reserve.
Fed Wire & Valid Number
Jack: No money goes to the "Federal Reserve": on wire transfers. The money is simply credited to one bank to another on the "Federal Reserve Wire" (Fed Wire).
The ABA number that you posted of "Bank of America" is not even the same number that I posted for wire transfers which you say is invalid. You posted above: 810660076. I posted the number of 066-00-7681.
This whole number business of yours is making no sense to me.
I've used the ABA routing number as recently as last week and for the past 15 years with Banco Mercantile, Caley-Dagnal, and now BanPro in Nicaragua.
Miskito Alan ®
wire transfers
The 810660076 are the right numbers but in the wrong order. I'll be more careful copying the number this time. This is the number that worked the 1st time but didn't work after that: 066007681. This is the most recent info and it works fine:
BANK OF AMERICA Miami, Florida ABA Routing No. 026009593 Telex: MCI-6812100 Swift: BOFAUS3M
Try sending me some money with your system. I'll let you know if it works.
Jack's Problem - New York
Your problem is that the "02" is at the beginning of your ABA # is the code number for the New York Branch of the Federal Reserve.
My number is "06" and is the number for the Atlanta Branch of the Federal Reserve which controls the Latin American transfers.
Miskito Alan ®
ABA Numbers
You are probably right. The local B of A told me that ABA 026009593 was the same number to use for all of their banks but maybe the local official was mistaken. My 1st two transfers (one from Calgary and one from the Credit Union here) used 066007681 and that is probably why they took so long because they went to New York. I traced the one from the Credit Union and it went from Eureka,CA -->Fed. Reserve -->BofA,New York -->BofA, Miami -->Bancentro, Managua. I sent my last one from the Eureka BofA using 026009593 and it got there in 2 days.
If there is a next time I will try your ABA number, if they will let me but I am pretty happy with the way my last one went.
send money
You can use: http://www.moneygram.com/ and there are quite a few Western Union agents too.
Paypal can work, sort of
If you have a US account and a paypal account, you can transfer from paypal to the US account, then withdraw cash with that account's debit card at a Nica ATM.
Also, Paypal issues Visa check cards that you may be able to use at a Nica ATM (check with all involved parties to verify!!!)
BDF
anyone can open an account at Banco de Finanzas and it has an affiliation with Bank of America and an office in miami therefore any wire transfers are not international and go very easy and only cost $20. we always sent less than 10K at a time just to make it "under the radar."
BDF for wire transfer
That sound like it might be the best way for me next time, especially when Banco de Finanzas S.A. is the only bank in SJDS.
I was told that their number is 1901-1-80742.
Radar?
NicaLiving is listed as being under the "radar" of the IRS of the USA (Amerika).
I don't know if that "radar" is your "radar concern".
That transfer is an international transfer from that bank to the bank in Nicaragua and it certainly makes no difference if both banks have the same name or one has the name of "Bank of America".
Miskito Alan ®
Money Transfers
Paul:
I wired transfer money to Nicaragua for over a year, almost every month My findings were the following:
Anytime the money transfer is over $2,000 is worth using a Bank, when is under $2,000 is better/Cheaper/faster to use Western union:
Example: To wester union $500 it cost $18.60 , if you use a Bank, $25 charge by the U.S bank and another $20 in Nicaragua,at least that's how it worked with our bank BAC.
Not to mentione is available within minutes and you get a free 5 mins phone call, IMHO Western union is the best way to send amounts under $2,000 to Nicaragua.
Anytime I have to send money over $2,000 to buy tobacco I used our Bank,it cost me $45 per wire transfer and it's been available(BAC) in 24-48 hours.
Hope this helps.
FAP
Questions?
Paul - Western Unions are everywhere in Nicaragua including the god forsaken Atlantic Coast; but, the cost is relatively expensive compared to other methods.
Are you trying to transfer money to a friend, a relative, or a company?
If so, does any (company, friends or relatives) have a bank account in Nicaragua?
The amount of money will also make a difference for me to advise you. If you could give me an approximate amount of money to send, I can help more.
Miskito Alan ®
Now if you have a B. of A. account already...
can you set up a BDF account in Nic. through the Miami B. of A. office or in country w/out a cedula or S.A. with this affiliation?
BTW, the radar is now set at 5K, for those that want to know; part of the "enhanced" security we now have in the USA!
??The Radar
Oh great...so there are new amounts ? That is scary. Now 5K instead of 10 ? Really ? Where did you get this info from ? Oh...like 5K is such a huge amount to target anyone compared to those who make the stupid laws. They do 5 Mil....and who cares. No one cause there has to be a special loophole. Anyone feeling queasy besides me ?? Oh I feel so dumb.But...they can come get me....good luck.... I'm old...crazy and unbalanced. Enough that anyone who questions me will go insane within 30 minutes(Plan A.) Plan B is.... excuse my self to go to the ladies room and take off. If they won't let me...I'll just rip off my depends and throw it at them. Excuse my crude diatribe...but...believe me....they don't want me workng on the chain gang. Too costly. Willow
Paying someone in Nica
We will have to pay our adoption attorney when everything is complete. I don't want to bring that much cash with me. Will a cashier's check from a US bank be easy for someone in Nica to cash/deposit? Not familiar with international banking and what they can/will accept in other countries. Thanks!
sending money
They will accept a cashier's check but it will probably take a couple of weeks to clear, a wire transfer is a lot faster.
If you do an international wire transfer it can take from 24 hours to a week but usually takes about 48 hours. If you use the Bank of America the ABA routing number is 026009593 for any of their banks and you will need the beneficiary bank's account number.
You Need More Than That!
Under the latest anti-terrorism; anti-money laundering; and anti-citizens laws you need more info that in the wire transfer or the the bank-wire will be returned to your USA (America) bank. The 026-009-593 ABA is for East & West Florida routing number. The best Bank of America number to use is that of their international department (ABA Number: 066-00-7681) and the money will be in Nicaragua the same or next day.
All necessary information for a wire transfer is listed at the following link.
http://www.nicaliving.com/node/2675
Miskito Alan ®
Bringing $
I dont want to wire the money before leaving the US because the adoption won't be completely final until we take her thru some steps the US requires. I was trying to figure out the best way to bring that amount of $ with me to pay her without having to bring that amount of cash. I have a Bank of America account here.