US$ Checking Accounts

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pedrodominicus

New member
Dec 2, 2003
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Has anyone tried to open a dollar checking account in the DR recently?
I tried at one of Banco Popular?s main branches and got the cold shoulder. They offer it as a service on there web site but when I tried to apply they basically didn?t wont to know, claimed they didn?t even have copies of the application form.

Have banked with them for years, never had problems in getting dollar credit cards in the past. Are banks now, at a personal level, actively tightening up on who has access to dollars and who can move dollars around? Or did I just have a bad day? Has anyone opened a US$ checking account recently?
 
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Adrian Bye

Bronze
Jul 7, 2002
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I opened a USD credit card at ban reservas. Their minimum for backing it with USD was around $2000. I prefer not to leave that much money there, so I gave them RD$26000. From that, I've got a credit limit of RD$8000, available to be spent in USD.

All this, and a lot of run around. So I'd say they're tightening up significantly.
 
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tjy

New member
Oct 15, 2003
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I think you can...Yesterday I stopped by Banco Popular on Calle del Sol, Santiago, and was told I could open an account in dollars. I also inquired at Citibank (also on Calle del Sol) several months ago and was told the same. Of course, you never really know until you try. Good luck.
 
Robert

Robert

Stay Frosty!
Jan 2, 1999
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dr1.com
BPD - http://www.bpdbank.com/

They have offices in the Banco Popular building on JFK.

You can open a US$ checking account with them here in Santo Domingo. It's a US bank, FDIC insured. So you US$ are insured up to US$100,000.

If you ever need RD$ (pesos), they will transfer money to your RD$ Banco Popular account instantly. They have always given us very good exchange rates.
 
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pedrodominicus

New member
Dec 2, 2003
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Robert

Thanks for the link to BPD Bank. Iwill try and deal with them directly in Santo Domingo and not persue my attempts with Popular at a regional level.

Thanks to all for your inputs.

pedom
 
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DeeDR

New member
Mar 27, 2003
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Are there any Dominican banks that offer dollar denominated debit cards? Not credit cards where you have to put down a deposit (these I know are available), but debit cards, such as Maestro or Cirrus, that directly access your USD savings account?
 
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arturo

Bronze
Mar 14, 2002
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why not use the US version debit cards

what's the point of using Dominican cards to access US funds? Debit, ATM, and credit cards issued by the home bank are all accepted.
 
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nymetsfan

New member
Dec 30, 2003
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I opened a dollar account in here in july. Had no problems. Just gave the bank my passport and us banking references and US $500 minimum for an account. Banco Progresso. It is much tougher to open a peso account in the states than a dollar account here. Great cup of joe too.
 
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DCfred

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Jun 19, 2003
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Word of caution. I would not deposit too many dollars in any Dominican bank. If the chaotic, counterproductive monetary policies continue as scheduled after the artificial control of the exchange fails, the confiscation or corralito of dollars will happen, just as it did in Argentina. I keep bringing Argentina because the DR seems to be following all the missteps by the book. Actually, in Argentina it eventually got so bad that there were not even any inorganic pesos to be had. Caution, caution!
 
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