Banking suggestions - checks from stateside

You could have them deposit the funds into your bank via bank to bank transfer, or they can wire the money. Depositing a US check will likely incur a 2 week delay before the funds become available.

I don't have to tell you this, but build a 2 to 4 week emergency fund in your bank so you can survive on any delays.

Hello Eric,

A also have many clients in the US that pay me .. some with checks most I get direct deposit.  NOT a wire transfer, which the bank charges you a fee.
You need to have an account set up in PR and most companies have the ability to do a transfer to your account.
Hope that helps!

Thanks Rey and Journey.  I do have a couple clients that do Direct Deposit, so those won't be a worry.  I may also be able to get some of my "check" clients to move to a payment app such as "Cash" that is simply connected to a debit card.  With those you can generally get the payment into your bank account in 2-3 days...I assume that would apply to a PR bank as well?  I could also keep my PNC account (maybe?) and do mobile smartphone deposits for some, then do a bank to bank transfer.  Definitely lots of options.  Just wondering if there are any other tricks I'm missing.  Since Banco Popular has stateside branches, are they any faster at clearing checks?

All my income is made in the states. I have worked with Bank of America and now TD bank and paypal. I transfer funds easily from all three institutions. My bank in Puerto Rico is Banco Popular. I believe I get my transfers within a couple of days.

Banco Popular in the States are separate system from the bank in PR

another way of getting paid is sending an invoice via pay pal which is instant and then direct deposit to any bank you authorize

Thanks, Mrk.  Yeah, I have a couple of clients that I use Paypal with, the problem with that being the huge chunk for the Paypal fee on decent sized check.  Kinda sounds like keeping my current bank and adding Banco Popular is the way to go.  Just do mobile deposits to PNC (up to the monthly limit at least) then transfer from bank to bank.  Shouldn't be too big of a deal.  Crazy how much stuff has to be thought through for a move like this though...trying to get a jump on it.

Banco Pop[ular is the only bank in PR that I know off that will allow you to open an account without a permanent PR address. I always recommend it for new expats until they are settled and then have them look for a better fit bank but only after they have moved.

Yeah, I noticed that from a different thread...definitely seems like the way to go.  Looks like they've got a location on about every corner in PR too.  Lol.

EricDove wrote:

I hate the idea of checks taking 2 weeks to clear in PR once I receive and deposit them.

I have a business account at Banco Popular. Checks from the USA take some time to clear, like a week, 10 days max.
If you get paid by the same person/business from the USA repeatedly, BP will credit  you the first $1000 of the check within a couple of days and anything above that a couple of days later. They obviously set up a faster line of communication with the stateside bank. I have several stateside clients and this works just fine for me.

Also, if you have a business account there's a separate line in the offices so you don't waste a lot of time waiting. You can also deposit checks with their smart phone app. All in all I'm happy with BPPR.

Thanks Gary.  That sounds like the way to go since my plan is to set up my work as a new business in PR and apply for Act 20.  Most of my clients are repeat so that sounds like it would work out great.

Scotia bank in PR is affiliated with Bank of America. There is also First Bank which has locations in FL. I have Banco accounts and checks normally clear in a few days.