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How to Receive Cash Funds in Boquete from South America

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A friend is wanting to send us some cash. That friend lives in South America and would be sending US dollars. The question I have is how to get that money to us? We have zero experience in this kind of business transaction. We are not talking about a large sum of money, so hopefully we wouldn't raise any concerns about money laundering, illegal activities, etc., none of which apply.

I think there is (or was?) a Western Union office across the street from Multibank. Is that service still available, and if so how does it work?

I thought about suggesting PayPal, but don't know if and how that works either.

Some Google searches this morning were, at best, confusing.

Suggestions, recommendations, information about reliability and timing and fees, etc., solicited.

 

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PayPal is great. If I could figure it out anybody could!  If your friend has a PPal account he can send $ to your US bank  and if it is not a business transaction there is no charge. You can set your account up by following   the directions from PPal.  Hope this is helpful

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There are several ways to do it but the first question is does the person have US Dollars to send or are they converting from another currency to dollars?   That can effect the answer as you then must look for the best exchange rate in addition to converting to US Dollars.   

If the person sending already has dollars, they can go to a Western Union office and send them to you.   They will have a "rate" for sending dollars or whatever currency the sending person has.   They will need your FULL name, spelled EXACTLY and IDENTICAL to the ID you will be presenting on the Western Union office in Boquete when you claim the funds.   I recommend you use your passport as your ID.   Any misspelling or reason the name does not match (such as forgetting the middle name) will cause Western Union to deny paying you the funds.   Be sure to stress this to the sending party.

The sending party will also need to tell them they are sending to Boquete in Panama but no further information is needed.   They can send the money that day or the following day (sending the following day is a bit cheaper).   Western Union will give the sending party e a claim number which they can send to you by email or whatsapp text.   You will need that number to claim the funds.   The sending party should also keep a copy of the number in case their is a dispute with Western Union or difficulty in delivering the funds to you.

You will take that claim number to the Western Union in Boquete along with your ID and they will give you the funds.   There is no cost to you for receiving the funds.   The sending party is charged at the time they send it.   If the amount is large (more than a few hundred dollars) you should go later in the day to be sure the Western Union has the funds in the drawer to pay you.   If it is very large, such as a thousand or more, you will need to go to David because Boquete never has that much on hand.

The Western Union shares the office with the Union Fenosa, on the corner and across the street from Multibank.

Hope that helps...

 

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Thanks to both of you. Will let the sender decide which method works best from the sending end. 

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3 hours ago, Evelyn Kendall said:

PayPal is great. If I could figure it out anybody could!  If your friend has a PPal account he can send $ to your US bank  and if it is not a business transaction there is no charge. You can set your account up by following   the directions from PPal.  Hope this is helpful

Not everyone has a U.S. bank account.

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4 hours ago, Twin Wolf Technology Group said:

There are several ways to do it but the first question is does the person have US Dollars to send or are they converting from another currency to dollars?   That can effect the answer as you then must look for the best exchange rate in addition to converting to US Dollars.   

If the person sending already has dollars, they can go to a Western Union office and send them to you.   They will have a "rate" for sending dollars or whatever currency the sending person has.   They will need your FULL name, spelled EXACTLY and IDENTICAL to the ID you will be presenting on the Western Union office in Boquete when you claim the funds.   I recommend you use your passport as your ID.   Any misspelling or reason the name does not match (such as forgetting the middle name) will cause Western Union to deny paying you the funds.   Be sure to stress this to the sending party.

The sending party will also need to tell them they are sending to Boquete in Panama but no further information is needed.   They can send the money that day or the following day (sending the following day is a bit cheaper).   Western Union will give the sending party e a claim number which they can send to you by email or whatsapp text.   You will need that number to claim the funds.   The sending party should also keep a copy of the number in case their is a dispute with Western Union or difficulty in delivering the funds to you.

You will take that claim number to the Western Union in Boquete along with your ID and they will give you the funds.   There is no cost to you for receiving the funds.   The sending party is charged at the time they send it.   If the amount is large (more than a few hundred dollars) you should go later in the day to be sure the Western Union has the funds in the drawer to pay you.   If it is very large, such as a thousand or more, you will need to go to David because Boquete never has that much on hand.

The Western Union shares the office with the Union Fenosa, on the corner and across the street from Multibank.

Hope that helps...

 

WU is great. I set up an account as backup. Also have the app on my iphone. When none of my debit cards worked on a trip to Colombia, I sent money to myself, this saved me. Fees were reasonable.

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10 hours ago, Keith Woolford said:

Not everyone has a U.S. bank account.

Paypal operates (almost) worldwide and does not confine itself to US banks. The company seems to keep buying up imitators and competitors, and my guess is that they will continue to have a growing, and eventually dominant, position in personal transactions.

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I ***DO*** appreciate all of the postings here. Good information. After this transaction is completed, I will post as to the procedure used and the outcome.

It is quite nice to have people, some of whom we don't even know, helping in this journey through life in Boquete. Thank you.

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The reason for my comment is that is not possible to get a Paypal account in Panama unless it can be linked to a U.S. based bank account.

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Bud, I just sent money to a Panamanian Ngäbe worker from my PayPal account (US) to his that uses https://www.paypal.me/***, with *** being his user ID. I am not sure he has a Panama bank account. I will have to ask him how he set it up.

There is a PayPal Me that I think he signed up for.

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