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Thread: Opening Bank Account - USA Passport for ID

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    Default Opening Bank Account - USA Passport for ID

    Has anyone had success in opening a $USD Savings Account in Santo Domingo? I went to three different branches of Banco Popular and one branch of Banco Leon. Each branch had a different excuse as to why they could not open an account using a USA Passport for ID. I had no problem opening a peso account with Banco La Nacional using my passport.

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    Go to Banreservas.

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    heard lately from several people that the rules for opening accounts changed a lot.
    not that long back you brought $300.- cash for the first deposit and you had a US$ bank account, today you have to fill in a bunch of paperwork. it's all about money laundring, been time for that. go the usual way:
    get your residency, walk into the bank with your then up to date cedula, bring the $300.- bucks, fill in some papers with your address, labor aso and all is done.
    for what reason they dclined your request?
    Mike

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    Quote Originally Posted by MikeFisher View Post
    for what reason they dclined your request?
    Mike
    Banco Popular website list the requirements for opening a $USD Saving Account as $500 cash, Passport or cedula. I had $500 cash and my USA Passport. Two branches outright refused to open an account without Dominican ID. The third branch gave me a slip of paper with documents I needed in addition to my USA Passport. I don't remember the details of the slip of paper but something like, letter of reference, Police Conduct Report, and some other stuff. Banco Leon took my passport information and told me to come back in two weeks after they can verify I am who I am.

    La Nacional took my passport info and in fifteen minutes I had a Savings Account in pesos plus the usual debit card.

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    sounds like a funny trip just for opening a bank account, ha ha.
    here on bank caribe and on banco bhd they also ask for letter of reference and police conduct papers when you are not a resident with up to date cedula.
    stick with the La Nacional where you opened the pesos account, show up some nice account movements in and out and as a known customer they will make it easy to give you a additonal account, this time in US$ after a while.
    in case of the banks it is always very helpful to stick with the smaller offices where you know the person in charge in person, they can move a lot, because they can 'recommend' you to their main-office as a customer or not.
    it is the same when you request a credit, huge differences from one spot to an other, and to be known in person helps more than a lot.
    Mike

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    Quote Originally Posted by MikeFisher View Post
    .....in case of the banks it is always very helpful to stick with the smaller offices where you know the person in charge in person........
    Thanks for the advice Mike.

    It didn't take long to know ALL five employees at this branch. The hotel owner where I was staying called the bank in advance for me, which I am sure helped a lot. This particular branch is the one he uses for his business accounts.

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    I tried at Banco Popular in Sosua. I had all the basics including bank reference letters in Spanish from a bank on a neighboring island, but was told that I needed two letters of recomndation from Dominican citizens to open an account.

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    Quote Originally Posted by danely View Post
    I tried at Banco Popular in Sosua. I had all the basics including bank reference letters in Spanish from a bank on a neighboring island, but was told that I needed two letters of recomndation from Dominican citizens to open an account.
    That's comforting to know it just wasn't me who had a hard time.

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    Does anyone know which bank is located in Rio San Juan, and if so, does anyone know what they require? Thanks in advance...

    Kelsey

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    I did it recently at a Banco Popular in Santiago and I provided my passport, two references from Dominican nationals and I believe two years of my tax records.

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