- Thread starter sancochojoe
- Start date
American Banks in DR
Do you think that your money would be safe in an "Anerican" bank??
They are just "Local Banks" (franchisese)with an American name!! Don't be fooled! CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
They are just "Local Banks" (franchisese)with an American name!! Don't be fooled! CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
Get an account set up in the US that offers free international wire transfers. Then open an accont in the DR and keep your balance at the minimal amount necessary. Then wire money from your US account into you Dominican account as you need it. Then you dont have to worry how "safe" the bank is. Do NOT use a bank in the DR as an "investment vehicle". Better off spreading your money around in the US and keeping your liquid cash in the US bank and use the method I stated above to acess it. Larry
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Re: Do you think that your money would be safe in an "Anerican" bank??
Regards,
Keith
CC, that's BS and you know it. We had this conversation in Sosua last July at the dinner at Rocko's. You know darn well that Citi's branches in the DR are not "franchises," and you also know why I can say this with such certainty. But even though they are direct branches of the American company (no matter what the local Citi officers like to pretend to the Dominican clients & public), they are nonetheless subject to the same rules & uncertainties that the Dominican government is imposing on all banks in the DR -- even Banreservas, the govt's own private piggy bank. Citi & Scotia may be less likely to fold from fraud than some of the local banks, but otherwise they represent the same set of risks.Criss Colon said:
Regards,
Keith
Well the reason for asking was
my wife and I are trying to make it easy for family in DR to get money we send, because we don't like payinig Western Union fees.
The idea was to open an account here in the states, because we believed the cost and requirement to open an account in Citibank in DR would be different then in the states.
We would then send them an ATM card so that whenever we put money in the account they could withdraw it from there.
my wife and I are trying to make it easy for family in DR to get money we send, because we don't like payinig Western Union fees.
The idea was to open an account here in the states, because we believed the cost and requirement to open an account in Citibank in DR would be different then in the states.
We would then send them an ATM card so that whenever we put money in the account they could withdraw it from there.
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My "POINT" IS! That I feel that there is no "SAFE" bank
In the Dominican Republic! Be it "Local",Puerto rican, "American",or "Martian"! They stil play by "House Rules"!
Those of us who live here,and I include "Escot",who want money from the USA,without paying a "dime,have stated how to "Transfer" this money,about 50 times!
Cris CCCCCC
In the Dominican Republic! Be it "Local",Puerto rican, "American",or "Martian"! They stil play by "House Rules"!
Those of us who live here,and I include "Escot",who want money from the USA,without paying a "dime,have stated how to "Transfer" this money,about 50 times!
Cris CCCCCC