Dolex update

[DallasSteve2]

My wife sent money back to Colombia yesterday.  She went to her usual Dolex location here in Dallas, Texas.  She said they are now charging $10 to wire money to Colombia.  It used to be $5.  I don't know about you, but I haven't gotten my 100% pay raise yet this year.  Anyway my wife went to Western Union to send the money there.  They also charge $10, but she said they had a much better exchange rate than Dolex.

Steve

[Calipro]

... in response to Dolex update, posted by DallasSteve2 on Sep 3, 2003

There is nothing cheaper than giving relatives an ATM card to withdraw the money from your US account. But, if the trust isn't there, I recommend ria envia. You can pick up the money at any cambios country in Cali.

[Pete E]

... in response to Dolex update, posted by DallasSteve2 on Sep 3, 2003

Steve,
My wife works for Dolex,they just got bought out by some American company.There are alot of changes going on and my wife is up for a management job.Right now she is training people big time because the new company fired all their illegals.She hasn't told me about rate changes.
In the past I have paid  lots more,like $40 or so to use western Union.It depends on the amount but dolex used to be $5 for up to like $2500.Western union I'm sure would be $100+ for that.
As far as the exchange rate my wife said its good but I don't know for sure.I would want to know what it is to compare.My wifes family said they were getting like 1800 with moneygram and they had to pay a fee to get it,when the official exchange rate was about 2300.There just might be misscommunication here,its happened before big time.I called moneygram and they couldn't tell me the exchange rate.Western Union could,it was a good rate but high fees,but if what my wifes family  was telling me was right it beat Moneygram.Thats was before we knew about Dolex.
As far as the ATM card,we used to do that.My wife checking account kept getting overdrawn because they would take money without telling her.I mean like $1000 worth of overdraft fees  in about 18 months,plus we couldn't control how much they took.The bank would give them money even if it wasn't in the account,charge us a $21 overdraft fee then I had to bail out the overdrawn account or they would close it and she would get on a list where she couldn't get a checking account.I threatened many times to let them close it,we had some big fights over it,but I always bailed her out.When that card expired we didn't give them a new one.
Now we have a much better system.My wife sends them the money and I don't worry about it.I think they are getting alot less than before.I never could stop the overdrafts,but if it was my wifes money I'm sure that would have come to a sudden halt.No way she would waste $1000 of HER money on overdrafts.My money,they could never get it strait.
My wife reads this and I am in trouble but it still pisses me off so what the hell.Be very sure you can have total control over the person with the card,an impossibilty it seemed in our case,which made it a very bad deal.Between the overdrafts and money we didn't tell them they could take I am out several thousand dollars.Stupid.I should have put an end to it,but it seemed the only way I could was to screw up my wifes ability to get a checking account.
Giving people a magic money card is asking for trouble.Any time they need some money they can hit the account.

Pete

[elcolombiano]

... in response to Re: Dolex update, posted by Pete E on Sep 3, 2003

You can ask the bank to not have overdraft protection on the ATM card. Use an ATM card from a different bank than your regular bank. You only deposit money in to that account when you want ther relatives to make a withdrawl.

[Pete E]

... in response to over draft protection, posted by elcolombiano on Sep 4, 2003

Damm,
I should have asked if we could do that,drop the overdraft protection.I didn't even think of it but that would have solved the problem.Too late now.Wish I had told that story when it was happening.Would have saved a bundle of money and lots of argument.

Pete

[Michael B]

... in response to Re: Dolex update, posted by Pete E on Sep 3, 2003

Dolex IS an American company, headquarters is right here in Dallas. Of course, it's possible that ANOTHER American company just bought them. But they keep raising their prices, when I first used them they were $1.00, then $3.00, then $5.00, now up to $10.00. Sorry, but they've priced themselves out of the market---I've switched, last time (this afternoon, in fact) I used Orlandi-Valuta, 3% ($4.00 minimum)...she should pick it up tomorrow, if it's not there or they give her any trouble, I'll let the board know. (And there's still AFEX, 4% and never had a problem with them and at least a dozen others-competition is pretty fierce in the giro business here in Dallas). BTW, in the pack of documents I sent M. for the visa interview (which according to UPS she will receive tomorrow) I put an ATM card, but I opened a seperate account (WITHOUT overdraft protection) at a DIFFERENT bank strictly for that purpose. So why does she need a card if she's finally about to get her visa? We're going to let her daughter use the card.

[Pete E]

... in response to Re: Re: Dolex update, posted by Michael B on Sep 3, 2003

Michael,
I used my wifes words,an American company.She got interviewed for the management job in english,always before the interviews were in spanish,so I guess what she means it is less of a spanish orientated company.Also,as I mentioned,they got rid of the illegal employees.My wife said before there were lots of illegal employees.There were surprised to find out my wife was actually legal.Maybe they were in trouble over it and that was part of the reason the company got sold.
The new Dolex rates to Colombia;
$10 for sending $1-$300
$15 for $301-$600
$20 for any amount over $601.
So it would be cheaper than the 3% for $500-$600 and over $667.But if its a $2 or $3 difference the convenience of the location to wire here and the location for them to pick up could be more important
The exchange rate they pay as of yesterday was 2836,about 97% of the official rate.
Steve mentioned $10 for Western Union.They must have had to really drop their prices because of the competition.Seems like it cost me about 10%.I think lots of pore Mexicans spent a bundle before competition set in.Mexicans used to mail cash.It was frequently stolen.
The no overdraft protection would solve the problem with the ATM card unless you were using it for other things,which my wife was.They could take money than her check would bounce.
But if only used for them,that is really the way to go.Wish I had known about that before.

Pete

[Cali vet]

... in response to Re: Dolex update, posted by Pete E on Sep 3, 2003

I gave my wife an atm debit card from a credit union when we were novios and I was in the states and she in Cali. The only funds in that account were those I deposited for her and I instructed the credit union very clearly not to include any overdraft provision whatsoever. Never had a problem. When she used up her money she just had to wait for another deposit.

[elcolombiano]

... in response to Dolex update, posted by DallasSteve2 on Sep 3, 2003

Forget moneygram and western union they are all ripoffs.

Open a new account in a Texas Bank, get an ATM card and give it to your family in Colombia. When you want to send them money deposit the money in the bank account and tell them the money is there. The service charges on the ATM card use are minimal and the exchange rate is much better.

[Kit]

... in response to Dolex update, posted by DallasSteve2 on Sep 3, 2003

You may want to try moneygram. They used to be cheaper than WU and lots of locations in Colombia.

[valuedcustomer]

... in response to Re: Dolex update, posted by Kit on Sep 3, 2003


Moneygram is the best.  Also, sign up first for their MoneySaver Card and get a customer number.  This gives you a 5% discount.  1-800-926-9400