Banreservas in Spain / USA

[NALs]

Since last year, Banreservas has been opening branches outside the DR starting with its office in New York City, USA. This is part of giving more Dominican services to Dominicans abroad. Now they cross the pond and this will be the first Dominican bank in Spain (Madrid) and in Europe.

Tonight at 9pm their will be some type of coverage in Color Visión (channel 9).

Expats with accounts in Banreservas could benefit too from these offices when outside the DR.

 

[NALs]

Yesterday, the Federal Reserve of the USA gsve the green light for Banreservas to operate representative branches in Miami and New York City.

The bank has total assets of about US$18.5 billion (larger than the economies of some countries such as Jamaica, Nicaragua, Guyana, St Lucia, Barbadies and a few others in the Americas. It's larger than the economies of some European countries such as Monaco, San Marino, Moldova, Montenegro, etc and about a similar size to Albania's economy.) It isn't bigger than Haiti's economy, but it's equivalent to about 90% -- just one Dominican bank. No question Banreservas is the largest commercial bank in Hispaniola and one of the largest in the Caribbean (could be the largest if bigger than the biggest bank in Puerto Rico.)

https://www.federalreserve.gov/newsevents/pressreleases/files/orders20230626a1.pdf

 

[NALs]

Several Dominican newspapers have pre-first page announcing the opening of Banreservas New York branch, making Banreservas the only Dominican bank with a presence in the Big Apple.

Products*
- Processing of opening a savings account in Dominican pesos and US dollars.
- Processing of a mortgage.

Services
- Assistence via TuBanco and the Banreservas App.
- Contact Email
- Other serivices


Facebook Page: BanreservasUSA
Phone: 1 332 456 2922



* The opening of a savings account and the approval and emission of a mortgage are done in the Dominican Republic.

 

[CristoRey]

I've been banking with Banreservas since September 2014.
Zero complaints.

 

[NALs]

I was trying to the find in Google Street View the mural seen in that photo, but it isn't there. Either the photo in Google Street View is outdated, the photo used as a background above is outdated or the mural was added with photoshop. One of the buildings is gray in Googke Street View but red in the photo.

This 3D rendering is from 2022.

While this one is from 2015. The pair of buildings, where the mural is suppose to be, is hidden by the black/bluish-green building. The highrises on the right makes it difficult to take a printscreen of the two buildings with the Empire State in the background.

In both instances one of the buildings is gray, so it could be possible the building was painted red in very recent times and the mural could be there as that means it could of reason creation too. That could also mean the Google Street View photo isn't recent either.

 

[JD Jones]

Why are you trying to find the mural?

 

[AlterEgo]

It may not exist, might be stylized in the image like the Empire State Building, which is nowhere near 181st Street ( it’s at 34th and 5th Ave).

 

[El Hijo de Manolo]

I've been banking with Banreservas since September 2014.
Zero complaints.

My experience is that years ago, the ATM/debit card POS systems were horrific. The ATMs were consistently out of cash, the lines for the tellers were excruciatingly slow and I was embarrassed a few times checking out at the grocery store as their debit/POS systems were always down. I have since left BR for Leon/BHD, but recall BR is the bank that pays all the gubmint employees and you can count on mayhem on the 15th and 30th

 

[RollingStone]

My experience is that years ago, the ATM/debit card POS systems were horrific. The ATMs were consistently out of cash, the lines for the tellers were excruciatingly slow and I was embarrassed a few times checking out at the grocery store as their debit/POS systems were always down. I have since left BR for Leon/BHD, but recall BR is the bank that pays all the gubmint employees and you can count on mayhem on the 15th and 30th

It seems they've got the ATM/debit card issues under control. I've never had an issue withdrawing from an ATM and my debit card has always been accepted at the supermarkets. I opened the account this year and have no complaints.

There is no charge to use the dollar debit card at their ATM to get pesos and the rates are better than you can find at any money changer in the DR. That's also true when using the dollar account debit card at the grocery stores or wherever.

I don't think the Miami branch is open yet but it will be nice to have that as an option when I travel there.

It's still a pain to go to the teller around the 15th and 30th. That hasn't changed in my limited experience.

 

[JD Jones]

FWIW, I have NEVER seen a Banreservas branch without a line. Many with lines out the door.

And to be honest, BPD isn't much better, but I rarely have a reason to visit.

 

[NanSanPedro]

FWIW, I have NEVER seen a Banreservas branch without a line. Many with lines out the door.

And to be honest, BPD isn't much better, but I rarely have a reason to visit.

Agree completely. Scotia Bank San Isidro has lines on the 15th/16th and 30/1 but not like Banreservas. I would love to take a survey on what those people are doing in line. I just can't fathom why one would subject themselves to that torture.

I've been inside a bank in the DR exactly 3 times since 2017. Twice because their ATM ate my card and once to get $ I sent myself (Banreservas or Popular?). Never again if I can help it.

 

[bachata]

Agree completely. Scotia Bank San Isidro has lines on the 15th/16th and 30/1 but not like Banreservas. I would love to take a survey on what those people are doing in line. I just can't fathom why one would subject themselves to that torture.

I've been inside a bank in the DR exactly 3 times since 2017. Twice because their ATM ate my card and once to get $ I sent myself (Banreservas or Popular?). Never again if I can help it.

In DR cash transaction are # 1 payment form reason why business owners are force to go to the bank almost every day to deposit.
People have to go to the bank to cash checks or withdraw from savings accounts.

JJ

 

[NanSanPedro]

In DR cash transaction are # 1 payment form reason why business owners are force to go to the bank almost every day to deposit.
People have to go to the bank to cash checks or withdraw from savings accounts.

JJ

I know about the cash, but why not just get an ATM card? That's what confounds me.

 

[JD Jones]

I know about the cash, but why not just get an ATM card? That's what confounds me.

They pawn them.

 

[bachata]

I know about the cash, but why not just get an ATM card? That's what confounds me.

I use mine all time but sometimes need to go inside the bank, large amount or ATM out of service.

JJ

 

[NALs]

The motto should be: "We take our traditions everywhere we go. Banreservas."


This was outside the first Banreservas in NYC. Just like in the DR. lol

 

[william webster]

Nothing new in the world !!

 

[JD Jones]

Color me surprised.

 

[El Hijo de Manolo]

Just like the lines for the liquor stores and fried chicken joints in da Bx

 

[El Hijo de Manolo]

FWIW, I have NEVER seen a Banreservas branch without a line. Many with lines out the door.

And to be honest, BPD isn't much better, but I rarely have a reason to visit.

Dominicans refuse and/or have no clue about online banking. A typical working class will wait on line at the bank for an hour just to check their savings balance. Yes folks, believe it. Slowness at the tellers is also attributed to tellers having to explain a simple thing to a customer 10 different ways over 20 minutes. They will also be happy just to chit chat with you. When they are called to the counter, no one is ever even remotely prepared with the necessary documents/ID etc. This is an everyday occurrence folks. It's ALL the banks, not just BR. It's truly like every time is their first time going to the bank.