Bank Safety

nyer

New member
Apr 9, 2003
2
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I understand that Banniter Bank was taken over by the Central Bank of the Dom Rep. This raises the obvious question, are there more bank problems to follow? Is there any reliable data that would shed light on this issue?
 

Adrian Bye

Bronze
Jul 7, 2002
2,077
138
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A friend of mine uses this service to check credit ratings of his banks, brokerage houses and insurance companies:

http://www.weissratings.com/

They cost $7 per report. I'm going to be running some reports in the next couple of days. This isn't 100% sure, but it'll certainly give you much more information to base your decision from. Apparently they've accurately predicted 80% of recent economic problems.

Adrian
 

XanaduRanch

*** Sin Bin ***
Sep 15, 2002
2,493
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Nyer,

My (Dominican) wife and I keep only what we could afford to lose, here, in the D.R. Don't expect anything bad happening, but it's very easy to open up internet accesible accounts with credit cards and paper checks in U.S. dollars in the U.S. or other countries, even if you're not a U.S. resident. They're not easy to find. It just takes time to find the right companies/banks, but when you do you'll wonder why you kept anything here.

We finally got everything set up properly last month and it's like freedom has finally arrived! No more wire transfers, bugging the local banks, worrying about echange rates.

Ah! The tranquility! back to the beach!

Tom