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Thread: BanReservas: Accessing Account over the Internet

  1. #1
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    Default BanReservas: Accessing Account over the Internet

    Does anyone know if a person with a USD denominated savings account with BanReservas can access account information, e.g., account balance and deposit/withdrawal information, over the Internet? It would be helpful to ascertain the process for obtaining this, if it exists. Thanks.

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    I don't have a USD savings account however I can access my USD checking account so I am sure that you can. You need to set up your username and password. I went into the branch on Calle del Sol in Santiago and re-set it up after not using it for a time and forgetting my password.

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    Quote Originally Posted by Dr_Taylor View Post
    Does anyone know if a person with a USD denominated savings account with BanReservas can access account information, e.g., account balance and deposit/withdrawal information, over the Internet? It would be helpful to ascertain the process for obtaining this, if it exists. Thanks.
    Yes you can. https://www.banreservas.com/ I think you have to go to a branch to get set up for access. You will need your passport etc. Once you are set up, you will be able to see your US dollar account as well as peso. You can also pay some bills there, and transfer money to other people.

    That is the good news. The bad news is that you can only transfer a small amount of money per day, and a limited number of transactions. Also, if you are going to use this for large purchases, allocate a lot of extra time. Checks take a long time to clear, as well as wire transfers into the account from the US. They would not let me use my funds for over one month after I wired in the funds, even though my account was several years old. I also had to show up with copies of the wire from the delivering bank, and explanation of the funds, had to speak with many different people, and at each step along the way they told me "manana". Also, they asked for a copy of my US bank account to prove that I had made enough money or had enough money to justify that wire transfer.

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    Quote Originally Posted by reilleyp View Post
    They would not let me use my funds for over one month after I wired in the funds, even though my account was several years old. I also had to show up with copies of the wire from the delivering bank, and explanation of the funds, had to speak with many different people, and at each step along the way they told me "manana". Also, they asked for a copy of my US bank account to prove that I had made enough money or had enough money to justify that wire transfer.


    People who've never banked in the DR would have a hard time believing all that.

    But most things weird in the DR....revolve around money.

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    Go to the "New User" section on their website and type in your Cedula or Passport number (whatever the bank has on file), complete the form and after a few days someone from BanReservas will call you and verify your identity and give you the access. This is just how they do it.

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    Banking in DR is a pain and if you don't answer the phone on the 1st try you have to try again but the calls don't come quickly and then you have to go back to the bank.
    Frankly I think the banking system is just as responsible for the lack of quality investment in the DR as is corruption.
    Put the two together (into the banking system) it discourages some who would love to open a small business or transfer more funds into the DR.

    Hold up your hand if a bank has taken money from you without notifying you.
    Hold up you hand if your transfers were held up at least a week even after the period they were supposed to clear.
    Hold up your hand if you've had ATM withdrawals from your account you did not make.

    OK I'm sure there are quite a few hands up.
    Simon say put them down.

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    I use Progreso...

    I find them excellent and the online performance as good as - or better- than either of my other 3 banks....
    Canada, USA and one other country.

    These days... incoming wires arrive a day faster... overnight ...
    I rarely exceed the $10k - deliberately.
    Plus my issuing bank has a password free option for less than $7,500 wires..... easy, peasy

    Never had any of the above problems, Bill.... not to say it doesn't happen.

    Have accounts for most of my people - joint - to transfer emergency funds as needed

    so far , so good........touch wood

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    Quote Originally Posted by william webster View Post
    I use Progreso Bill.... not to say it doesn't happen.

    Have accounts for most of my people - joint - to transfer emergency funds as needed

    so far , so good........touch wood

    OK I will give them a try becuase BanReservas is too frustrating.
    Careful whose madera tu toques

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    I've had DOP, USD and EUR accounts in Banreservas since 2013, and since then also used the online banking feature. The only complaint I have is that once me and my wife had to wait a bit long to be attended on one branch, as they were confused whose turn was it at that point...

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    Quote Originally Posted by tht View Post
    Go to the "New User" section on their website and type in your Cedula or Passport number (whatever the bank has on file), complete the form and after a few days someone from BanReservas will call you and verify your identity and give you the access. This is just how they do it.
    Thank you very much. You provided far more help than the person at the bank with whom I have been e-mailing the past three days or so.

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