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Thread: Banco Popular

  1. #11
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    To be honest, since the international banking crisis and with increasing levels of online fraud, most banks have tightened up considerably on security and customer checks before issuing security devices or opening accounts. I went with a friend to Banco Popular to open an account and they said that it could take 3 months or more to go through the checks that they now require before opening an account for a foreigner with a passport. I am from the UK, and most banks are saying the same thing there, so many checks required before they do anything. I bank with Popular and find them to be excellent. Yes, sometimes more complicated things take 3 or 4 visits, but that's how things work in Dom Rep, if you are going to live here you just have to accept that things work that way.

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  3. #12
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    Quote Originally Posted by TropicalPaul View Post
    To be honest, since the international banking crisis and with increasing levels of online fraud, most banks have tightened up considerably on security and customer checks before issuing security devices or opening accounts. I went with a friend to Banco Popular to open an account and they said that it could take 3 months or more to go through the checks that they now require before opening an account for a foreigner with a passport. I am from the UK, and most banks are saying the same thing there, so many checks required before they do anything. I bank with Popular and find them to be excellent. Yes, sometimes more complicated things take 3 or 4 visits, but that's how things work in Dom Rep, if you are going to live here you just have to accept that things work that way.
    When I opened that account it took one day. I never experienced or heard of a three month waiting period. Perhaps if the account is opened on the Cedula. I am not aware of an increase in online fraud and maybe a more intensive investigation of accounts is a good idea. But increased scrutiny on an existing account? In which the client has the old token currently valid, can prove he can access his account, has a copy of old expired passport and original new passport, also a current Cedula and residency? Well I think all can agree that that demonstrates some sort of problem. I am aware of some account problems that I have been told was internally on their part. The fact that a bank who is "Sempre A tu lado" does not seem to be the case here. Banco Popular may be an excellent bank compared to other Dominican Republic banks. But during some wire transfers into my own accounts I have to pay attention. For whatever reasons some transfers would just hang in space. The money was out of my account here but was not deposited in the account there. I am certain if I did not follow up it would have remained there for who know how long. My bank would inform me that it is confirmed the money is in the receiving banks account. Not a model of efficiency, perhaps busy trying how to comprar venta a profit on the current exchange rate at my expense. I just do not know. But I could never assume any transfer was processed with confidence.
    A simple checking/debit account is not a complicated task for a bank. I do not require a complicated task, such as a loan or a credit card account. Just a simple one, but for whatever reason it became a complicated task. I watch a couple before me open an account and leave with everything they wanted while I waited my turn for my second try at straitening this out with a little English speaker. Yeah its the Dominican Republic, and yes its my desire to create a footprint for me there. But I think its kinda obvious in this circumstance that this is ridiculously over regulated on their part. And I do not have a choice other than to accept it, I know that, that does not help.

  4. #13
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    Quote Originally Posted by Joe Boots View Post
    I sent an e mail to both Banco Popular and BHD today. Banco Popular detailing my difficulties. And a simple inquiry to BHD. BHD answered me already. Lets see how long it takes for me to get an answer from Banco Popular. Here is BHD response.

    Buenas tardes,

    Apreciado Cliente:

    Por el momento no tenemos sucursales en Estados Unidos, solo en República Dominicana.

    Si requiere información adicional o seguimiento puede comunicarse con nuestro departamento vía telefónica TeleÁgil BHD León a los teléfonos 809-243-5000, desde el interior sin cargos al 1-809-200-2445, desde el exterior al 1-866-898-3300, donde estaremos complacidos en responder a sus requerimientos.

    Mejora tu mundo.

    Saludos cordiales,

    César Torres | SEO | Centro de Contacto | Banco Múltiple BHD León, S. A.
    Well BHD just says they dont have branches in USA., your case with them is closed, so dont wait more information or reply from them. BHD branch even they merged with Banco Leon their amount of branches didnt change too much, because they has been closing all the ones too close each other.

    I like Banco Popular because every corner you turn its easy to find an ATM or Branch. For every problem there is a Solution, in my personal opinion, I would try to find out how to open an account with BPD again, Im sure that your problem can be solved. Even you have a Cedula of resident you are still a foreigner, so thats why they still must ask you for a Passport, if you become a Dominican then for sure there was not problem open a bank account only with your cedula.

  5. #14
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    It took almost 6 months to open an account at Banco Popular.  They would ask for documents and I would present them and they would add new ones to the list which required getting from the US.  The hardest was they required a letter from my employer.  I kept explaining I was retired and did not have an employer.  That did not help.  Fortunately I had worked many years for the company and knew people in human resources.  One wrote a letter which basically said nothing but it was on letterhead and the bank was happy.

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  7. #15
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    "Siempre a tu lado". Reminds me of some people. One hand around you, the other in your pocket, but "siempre a tu lado".

  8. #16
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    Quote Originally Posted by Hector L View Post
    It took almost 6 months to open an account at Banco Popular.  They would ask for documents and I would present them and they would add new ones to the list which required getting from the US.  The hardest was they required a letter from my employer.  I kept explaining I was retired and did not have an employer.  That did not help.  Fortunately I had worked many years for the company and knew people in human resources.  One wrote a letter which basically said nothing but it was on letterhead and the bank was happy.
    Six months! Wow. Did you open with a passport and a Cedula with residency? Could it be possible that some regulation changed requiring more documentation to my account to sustain it and they used the expiring Token as an enforcement tool? Since when would the bank be concerned with where you get you income unless it was extreamly large amounts or you were asking for a loan. OMG can you imagine trying that one. There is a lot in this world I do not understand. Now dealing with DR banks is just another of life's mysteries I guess. I will find out some answers with time I guess.

  9. #17
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    Would anyone out there care to comment on Banco BHD Leon and foreign Passport with Cedula accounts? Possible? Good? Bad? Internet Banking service, good or bad?

  10. #18
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    Quote Originally Posted by Joe Boots View Post
    Well at least now you see it coming and can prepare. i was blindsided. I sent an e mail with the situation to Banco Popular. I will keep the board advised of the results.

    Please keep us informed. I have experienced some of the same issues. I had to withdraw a large sum of money, but the branch close to me would not release the money until they contacted the account manager from the branch that open the account. 

    I was in that branch once to open with the help from JD and now I'm waiting over an hour to have my money released. Actually JD called the manager and helped to finish the process.

     He gave me some great advise. Get to know the manager at what ever branch you bank the most. I still need to do that, but at least the tellers know me and I don't have to wait to have large sums released. 
    Forgot about that one time and went to another branch, was about to go through the whole process again. I told the teller stop and went to my branch, no problem. 

  11. #19
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    Joe Boots.    Each time I presented the requested documents.  I needed:

    1.  Passport
    2.  Letter of recommendation from my US bank
    3. Proof of income
    4.  Letter of recommendation from my employer (I was retired was this was challengingas I had no employer)
    5.  Letter of recommedation from a. Existing bank company with a personal account
    6  Letter of recommendation from an existing commercial banking customer

    There may have been more but I forget.  I ended up taking a Dominican who had a friend who worked at the bank to cut through the remaining red tape.

  12. #20
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    http://yoursaucepans.blogspot.com/20...ep-breath.html

    Update on this banking blog post: three years later I had a call from BanReservas to tell me I could pick up my card. My RD$500 was still in the account and had even made interest.

    Matilda

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