How can I ensure a predictable monthly pension?

Member since 03 August 2014

goranbockmanNew member07 September 2014 17:17:54

Hi guys,
Are there any financial specialists on this forum?

My problem is I'm getting most of my pension from Sweden, paid into my British account, in British Pounds, probably at a bad exchange rate.

When I live in Nicaragua I'll be drawing mainly $$ and Cordobas, again at bad And fluctuating rates. This means I can't know just how much money I'll get, from month to month. The difference can be up to $300/ month, which is unacceptable.

I wonder is there a way I could lock in a favourable rate, so my monthly money will be more predictable? Does anyone have experience with cash cards?
Grateful for sound advice聽
Goran

wordo Guest

wordoGuest06 October 2014 10:59:02

Bank fees are horrendous! Look into having your pension deposited into a Tangerine Account (formerly ING). You can then get all your banking info on line and they will send you a card that you can use in the machines in Nica. I believe that that should cost you only one transfer fee won't hurt to check on it, At least at that point you will know how much you have in the account at any given moment. Good luck.

goranbockman New member

Member since 03 August 2014

goranbockmanNew member06 October 2014 12:13:17

Hi there and thanks for your reply; never heard of a Tangerine account. I will certainly check it out. Sounds very interesting since feeding fat cat banks does not rate among my priorities in life.聽

wordo Guest

wordoGuest06 October 2014 15:48:47

Let me know how that works out for you I am in the process of building a small resort in Popoyo Beach area but I am Canadian and the only bank that gives interest on聽 a business checking account is Tangerine. It must be linked to another account though.

goranbockman New member

Member since 03 August 2014

goranbockmanNew member06 October 2014 21:42:24

Sure I'll keep you posted.聽

wordo Guest

wordoGuest03 November 2014 15:18:16

i have a don't, don't use pay pal your costs for transfers is astronomical. If you open a business you can open a local bank account. and possibly have your cheques deposited there.