Since my wife and I only spend about 1/2 the year here in Nicaragua, we do not want to change our Social Security payments so that they are deposited here. So, we maintain a balance in the bank of about 1 month's projected expenses and we write out a check every month for our retirement money to come here. There is NO fee for doing this, except it takes 3 weeks for the money to become available. The advantage is that we use our debit card, issued by the bank here, for transactions and we don't have to worry about losing too much in the event our cards are stolen or compromised.
(Laguna De Apoyo, Nicaragua, pictured.)