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Pammerjo
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September 23, 2016 5:15 pm  

anybody?

trying to find a bank where we can transfer money easily back and forth. Yes, I know that we can transfer from bank to bank but looking to avoid fees and headaches.


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cre
 cre
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September 23, 2016 5:35 pm  

Banco Popular. I sent money to my moms when I was up in NYC. I don't know how widespread they are in other states though.


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vicanuck
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September 23, 2016 5:45 pm  

Paypal...


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speee1dy
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September 23, 2016 5:51 pm  

ISNT BANCO POPULAR IN FLORIDA


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Gator's Mom
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September 23, 2016 6:07 pm  

popmoney


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ms411
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September 23, 2016 6:42 pm  

Scotia Bank (Bank of Nova Scotia) is a Canadian bank with a fairly large Caribbean footprint. I use them because they are an "international" bank and had relatio ships with other banks (Bank of America) so you could use their ATMs and others without fees. It was my understanding that at the time I opened my Scotia account that the other local banks weren't international.

The only money transfers I do are paypal payments linked to my Scotia account. If I need to pay for something I use the Visa debit card. If a friend needs something, I buy for them online and they pay me back.

I have slso transferred money via my PayPal account to relatives in the states. They didn't tell me they had any issues.


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Pammerjo
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September 23, 2016 7:05 pm  

thanks you guys. husband is still wary of paypal but I think it sounds like the easiest option.


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jj00802
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September 23, 2016 7:21 pm  

I have bank account at Banco Popular in the USVI and I have bank account in the states at Bank of America.

I transfer funds FREE to/from Banco Popular to Bank of America.

I think there is a limit daily. There is option to transfer to accounts within the bank and a separate transfer set up for banks (other than originating bank).

I know Chase has an option to transfer funds (free) to any person. I have had several people set that up to transfer funds for rent payments from stateside banks.


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fdr
 fdr
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September 23, 2016 7:36 pm  

I have a CapitalOne account that is linked to other bank accounts, allowing me to transfer $ between them for no fee. One of them used to be a USVI account, although I no longer keep an account on island (that's a whole nother thread as to why). I think most large stateside banks have at least one option that allows for easier transfer of funds.

Your husband's wariness is advisable -- I no longer trust PayPal with my money. I had no problems with them for about 14 years, and then all of a sudden within a few months they screwed up multiple separate and unrelated transactions, costing me major time and $ -- even though every single issue was their fault, and they admitted that but wouldn't fix anything for me. They couldn't explain why the screw-ups happened, either, and they were extremely unhelpful in resolving them, even though I did nothing wrong. I had heard others' horror stories about PayPal before but always thought it could never happen to me after years of smooth transactions. PayPal is NOT a bank and shouldn't be trusted to function like one.

My understanding is that Canadian Scotia and USVI Scotia are separate entities -- maybe that has changed, but double-check on that before opening an account with them.


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Gator's Mom
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September 23, 2016 8:02 pm  

thanks you guys. husband is still wary of paypal but I think it sounds like the easiest option.

popmoney is an interbank service - similar to paypal but more secure.

Small amounts up to I think $2000 is free to use.

Banks in the VI participate. I've used for sometime now and it's great.


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ms411
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September 23, 2016 10:46 pm  

fdr, were the fraudulent paypal transactions sent to your email? Is that how you caught them? I mostly use paypal for ebay purchases.

How is popmoney more secure?


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Scubadoo
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September 23, 2016 11:29 pm  

fdr, were the fraudulent paypal transactions sent to your email? Is that how you caught them? I mostly use paypal for ebay purchases.

Screwed up transactions doesn't necessarily mean fraudulent. I am interested to hear the response as well.


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rosesisland
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September 24, 2016 9:49 am  

thanks you guys. husband is still wary of paypal but I think it sounds like the easiest option.

popmoney is an interbank service - similar to paypal but more secure.

Small amounts up to I think $2000 is free to use.

Banks in the VI participate. I've used for sometime now and it's great.

My landlord and I just spent 45 minutes on the phone with Popmoney at the beginning of this month. He lives in the state's most of the month and not always on island during rent due time.

We were unable to set up me an account because they said VI was not available if your only address is a VI address. I have a stateside as well as a VI bank account, but, only a VI address. To set up an account online, there is no VI in the drop down menu in order to set the account.

Just saying what just happened to us earlier this month.


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Gator's Mom
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September 24, 2016 11:19 am  

Funny, just got $$ from a VI account through popmoney. It all depends on whether or not a bank is signed up for popmoney service. Just checked the popmoney website and definitely Banco Popular uses popmoney for transfers. So does United Fidelity (Bank of St Croix's new owner).

Since popmoney is a bank regulated product, it has those built in protections.

FYI - We had a fraudulent $3500 transaction happen with a paypal account - knew it was happening but paypal let the transaction go through despite the fact we requested in not occur. We had the "security" feature where paypal called us to approve any transactions over $500 - we didn't approve and it didn't matter.

Paypal would not return the money immediately blah blah blah. Said it would take weeks.

I called my bank since the paypal account was attached to a checking account and money was back in my account within hours, if not minutes.

Paypal may have improved security since then, but I don't use this service anymore.

thanks you guys. husband is still wary of paypal but I think it sounds like the easiest option.

popmoney is an interbank service - similar to paypal but more secure.

Small amounts up to I think $2000 is free to use.

Banks in the VI participate. I've used for sometime now and it's great.

My landlord and I just spent 45 minutes on the phone with Popmoney at the beginning of this month. He lives in the state's most of the month and not always on island during rent due time.

We were unable to set up me an account because they said VI was not available if your only address is a VI address. I have a stateside as well as a VI bank account, but, only a VI address. To set up an account online, there is no VI in the drop down menu in order to set the account.

Just saying what just happened to us earlier this month.


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speee1dy
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September 24, 2016 12:04 pm  

i was going to ask but you answered before i could.

thanks you guys. husband is still wary of paypal but I think it sounds like the easiest option.

popmoney is an interbank service - similar to paypal but more secure.

Small amounts up to I think $2000 is free to use.

Banks in the VI participate. I've used for sometime now and it's great.


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Gator's Mom
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September 24, 2016 12:17 pm  

You need to set up a bank account on island at an institution that uses popmoney transfers.

thanks you guys. husband is still wary of paypal but I think it sounds like the easiest option.

popmoney is an interbank service - similar to paypal but more secure.

Small amounts up to I think $2000 is free to use.

Banks in the VI participate. I've used for sometime now and it's great.

My landlord and I just spent 45 minutes on the phone with Popmoney at the beginning of this month. He lives in the state's most of the month and not always on island during rent due time.

We were unable to set up me an account because they said VI was not available if your only address is a VI address. I have a stateside as well as a VI bank account, but, only a VI address. To set up an account online, there is no VI in the drop down menu in order to set the account.

Just saying what just happened to us earlier this month.


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fdr
 fdr
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September 24, 2016 11:42 pm  

fdr, were the fraudulent paypal transactions sent to your email? Is that how you caught them? I mostly use paypal for ebay purchases.

Only one was fraud-related. I will spare everyone the insane details of the rest (one involve a stalemate between PayPal and my bank, each insisting the other owe me a refund and no way for me to get it from either party) - but the worst offense was when I bought a product with installment payments (about $350 each) over several months.

I signed up to have the money taken out of one of my two PayPal-linked accounts. They sent me an email confirmation saying how much would be taken out on what dates, noting the bank account to be used. I'd done this before with smaller amounts of money, no problems.

The day of the first charge, you guessed it -- they charge the OTHER linked account, which doesn't have sufficient funds to cover it. After literally hours on the phone, they informed me that (a) it was their fault, (b) they don't know what happened, (c) even though they sent me an email that clearly shows they are drawing the funds from the wrong account, the only solution is for me to put money into that other account to cover it, for the entire duration of the installment plan. Oh, and they won't cover my bank's overdraft charges (caused by their error) until I call back and fill out some more forms.

This is not a company that cares about its customers. At that time I had been using them for business and immediately switched to Stripe.


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ms411
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September 24, 2016 11:51 pm  

Thanks for the update! I mostly use PayPal for ebay so I keep it simple.


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speee1dy
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September 25, 2016 10:57 am  

my hubby had to use paypal once for a bank transfer and it was a pain in the butt. never again.

paypal for small purchases is great though


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fdr
 fdr
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September 25, 2016 12:35 pm  

I refuse to use them even for eBay anymore. I always thought all people with PayPal horror stories were at some way at fault, until my experiences happened one after the other (and yes, one was an eBay transaction) -- and each time, I really did not do anything wrong. My only mistake was giving them my money. The insanity of it was truly mind-blowing. Caveat emptor.


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speee1dy
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September 25, 2016 1:13 pm  

you really do have horror stories with paypal. i have read others also.

I refuse to use them even for eBay anymore. I always thought all people with PayPal horror stories were at some way at fault, until my experiences happened one after the other (and yes, one was an eBay transaction) -- and each time, I really did not do anything wrong. My only mistake was giving them my money. The insanity of it was truly mind-blowing. Caveat emptor.


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Gator's Mom
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September 25, 2016 1:43 pm  

The $3500 hack we had was through ebay as well. Someone ordered a computer through husband's ebay/paypal and had the package delivered to an empty house in Atlanta.

Ebay/paypal, I believe, knew this but were trying to catch the perps. Paypal called to inquire if this was an approved transaction, we said no, but proceeded anyway.

Would still be waiting for paypal, I think, if Wells Fargo had not intervened.

If you use ebay/paypal, have a special checking account only for those transactions with only a limited sum available.

you really do have horror stories with paypal. i have read others also.

I refuse to use them even for eBay anymore. I always thought all people with PayPal horror stories were at some way at fault, until my experiences happened one after the other (and yes, one was an eBay transaction) -- and each time, I really did not do anything wrong. My only mistake was giving them my money. The insanity of it was truly mind-blowing. Caveat emptor.


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Scubadoo
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September 25, 2016 8:46 pm  

For purchases I just use virtual/disposable account numbers on my credit card account. No need for pay pal for payments, only use them for incoming. Discover used to have this option but I think they got rid of it. I use Citicard. Just make up a new virtual card number for each transaction for the specific amount of the transaction and expiration date. The virtual number can only be used by one merchant and can't they charge more than the specified amount. If anyone else ever get's hold of the card number it's useless to them. No fees for using the virtual numbers. Don't have to deal with the possibility of going through the the whole dispute process with the CC company since it pretty much eliminates any possible fraud on the disposable card number.


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captpete
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September 26, 2016 2:28 pm  

PoPmoney only works if sender and receiver have bank accounts that have a USA postal address...according to PopMoney, they cannot send money to a person in the USVI, but if that person has an address in the USA for their account, it will work.
Conversely if you have a USA bank account, say in Florida, and your account address is int he USVI...they cannot send to that account!
If you VI bank (or any bank is the USA) is listed with popmoney, and you have a stateside address for that bank account (even though a VI bank)...you can transfer money.
Presently they only support USPS addresses in the 50 states...no territories yet.
I have spent several hours talking with PoPMoney managers...and with their assistance we covered all their rules in the process of their ACH money transfer system.
The system has many banking rules...primarily that accounts (anywhere with routing number) must have a USA postal address!
.


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Gator's Mom
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September 26, 2016 2:44 pm  

http://www.1firstbank.com/vi/en/individual-banking/services-for-you/popmoney
http://viconsortium.com/business/firstbank-launches-new-online-banking-feature/

Have you talked to your bank?

Have you checked the list of banks that use popmoney on the service's website?

Banco Popular specifically? Lists VI.

quote=captpete]
PoPmoney only works if sender and receiver have bank accounts that have a USA postal address...according to PopMoney, they cannot send money to a person in the USVI, but if that person has an address in the USA for their account, it will work.
Conversely if you have a USA bank account, say in Florida, and your account address is int he USVI...they cannot send to that account!
If you VI bank (or any bank is the USA) is listed with popmoney, and you have a stateside address for that bank account (even though a VI bank)...you can transfer money.
Presently they only support USPS addresses in the 50 states...no territories yet.
I have spent several hours talking with PoPMoney managers...and with their assistance we covered all their rules in the process of their ACH money transfer system.
The system has many banking rules...primarily that accounts (anywhere with routing number) must have a USA postal address!
.


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