Can I open up a Bank Account here in NY that I can also access in the Dominican Republic? If so, which bank and what is the process?
Thanks!
Spyderdiaz
Thanks!
Spyderdiaz
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Opening a DR Bank Account in NY???
windeguy thanks so much for your response. I guess there's no way around it except to deposit checks into a DR account but will I be able to withdraw money from my DR account here in NY? It will be a US $ account.
Thanks
Thanks
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even Citibank that
JOHN
told me here in NY it would not be a problem. The above info is exactly correct in all aspects. I too went down that road and came to the same conclusions.You can access your US funds from virtually any bank here in the DR using bank teller machines and a cash card. Or open a US dollar account here and deposit paper checks into it, withdraw the funds and change them at the best rates you can find (i.e. NOT in the same bank). I recently found Bank of Internet and it is working well for cash card withdrawals. Other banks have not had such favorable exchange rates and don't refund the fees when using ATMs.
There is no bank in the US that is directly tied to a bank in the DR regardless of the fact that they might have the same names. That includes Banco Popular in NY and Citibank (if they are still in the DR). Canadians have similar issues with ScotiaBank. They are actually separate companies in each country with different rules and regulations under the same corporate umbrella company. That does not help when trying to transfer money between countries. You will still pay wire transfer fees in the US$40 range anytime you want to transfer money.
I have been up and down this road a few times, if anyone has a better story, please post it.
JOHN
dr bank account
If your checks are say payroll,and your employer has direct deposit,that is one way to have money put in Banco Popular every month....Popular has direct deposit from US banks or Government checks...
bob
windeguy thanks so much for your response. I guess there's no way around it except to deposit checks into a DR account but will I be able to withdraw money from my DR account here in NY? It will be a US $ account.
Thanks,
If your checks are say payroll,and your employer has direct deposit,that is one way to have money put in Banco Popular every month....Popular has direct deposit from US banks or Government checks...
bob
If your checks are say payroll,and your employer has direct deposit,that is one way to have money put in Banco Popular every month....Popular has direct deposit from US banks or Government checks...
bob
I know I just dug up an old thread but can I really have my portion of my paycheck directly deposited in to a BPD account? How?...Has anyone else been able to do this?
I believe you may be able to open an account at BPD in NYC and have direct access to your funds (and be able to do regular banking) at BPD in The DR. The branch was opened initially to process mortgages in the US for properties in the DR. I do not believe you need any type of DR ID...
G
gary short
Guest
How about a Wachovia Bank wire transfer to her account. I know it's old school....but no problem...
I agree about BP vs. BPD, however BPD (Banco Popular DOMINICANA) opened an office in NYC specifically for US buyers of Dominican property.
From all that I have been told, BP in NYC and BPD are owned by the same corporate entity, but they are separate companies with separate regulations in each country and there is no real advantage over using any other bank in the US when transferring funds between the US and the DR. I think they probably opened BP in NYC because there are many people of Dominican origin in NY, they recognize the BP logo so they bank there. Just a good business decision.