Opening Bank Account - USA Passport for ID

[bigbird]

Update on opening account

I finally have a bank account in USD. I tried several banks before securing an account with Banco BHD. The first of August I filled out documents with Banco BHD to run a credit check on me in the USA. The bank rep told me to return in four days. I returned to the bank four days later and was told sometimes it takes more time to process the information and to return next week. Next week I am back in the USA. Four weeks later I am back in the DR and Banco BHD has all the required information. Forty five minutes later I am walking out the bank with my "cuenta de ahorros en dolares".

Thanks to Banco BHD at the Malecon Center, Santo Domingo.

 

[MikeFisher]

congrats Bird,
happy savings.
i am with dollar(withdrawal) and Pesos(company reg savings) accounts also with BHD since many years.
i am satisfied with their services.
have fun
Mike

 

[Bayx-**]

My friend was asked for a letter of good standing from his bank in the US. I don't recall which bank was it, but without that latter he is not able to open the account.

 

[MikeFisher]

drop that US bank a call, tell them what you need and your e-mil address and you will receive that to print it out soon.
Mike

 

[bigbird]

congrats Bird,
happy savings.
i am with dollar(withdrawal) and Pesos(company reg savings) accounts also with BHD since many years.
i am satisfied with their services.
have fun
Mike

I took your advice from an earlier post in this thread.

...............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,...........
Mike

The Malecon Center branch of Banco BHD is a small branch and the woman who did my initial paper work knew who I was as soon as she saw me. Three trips to the branch to open the account and the same people were working there.

 

[MikeFisher]

happy to be helpful.
good luck
Mike

 

[mountainannie]

Ban reservas

Just for future reference, I opened a dollar account at Ban Reservas with my US passport with absolutely no problem, no questions, at all. Of course, they take about three months to actually credit my account even though the check clears in two weeks. But they have now given me a debit card on the dollar savings account so I can even get out my dollars here when I am back in the States, so I am fine with that.

 

[bigbird]

Just for future reference, I opened a dollar account at Ban Reservas with my US passport with absolutely no problem, no questions, at all...................

mountainannie: How long ago did you open the account?

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,.....................

I went to Banco Leon, Banco Popular, Banco Progresso, and Banco BHD. They all wanted additional information other than a USA Passport.

 

[LindseyKaufman]

In Sosua two days ago, I went to Banco Santa Cruz. Had my neighbor along, a German who is a 20 year resident, my passport, and a check written to my neighbor for $800 USD. Within one hour, I had a peso savings account and a US dollar savings account. AND, an ATM card. The check has not shown up on my US bank online account, but I have money in my accounts here!

It's a small bank....not many branches. But there is one in Cabarete and one in Sosua.

I am satisfied.

Lindsey

 

[bigbird]

........Had my neighbor along, a German who is a 20 year resident.....

Did your neighbor have to vouch for you? Is he well known at the bank?

 

[LindseyKaufman]

Did your neighbor have to vouch for you? Is he well known at the bank?

I guess he "paved the way" so to speak. I have no idea how well know he is. To me, he is just my neighbor.

Lindsey

 

[DaveJohnson]

reply

I heard that Scotia Bank was the best. I wonder why not one person on this thread mentioned that bank in their experience??? :surprised


Can anyone tell me the exact requirements for getting an account at Scotia
Bank? I will only have 9 days in the D.R. and eight altogether from the time I start the account opening to the time I leave.


Can they send something to me by mail if I am in the states when they finally get around to completing my account?


D.J.

 

[Yachtmaster]

I heard that Scotia Bank was the best. I wonder why not one person on this thread mentioned that bank in their experience??? :surprised


Can anyone tell me the exact requirements for getting an account at Scotia
Bank? I will only have 9 days in the D.R. and eight altogether from the time I start the account opening to the time I leave.


Can they send something to me by mail if I am in the states when they finally get around to completing my account?


D.J.

I stopped by a ScotiaBank branch in Santo Domingo two weeks ago to check on what was required to open an account. The customer service agent did not speak English and with my intermediate Spanish, I understood the requirements to be: two bank references from other banks that you deal with and a personal reference from one's home country. It also gathered that they followed up on the bank references, so actually opening an account could take some time............

 

[DaveJohnson]

reply

by email they told me one bank reference was enough. I sure hope they do not ask me for two when I show up at a Scotia Branch in the D.R. to open
an account !!!

Dave :glasses:

 

[MerengueDutchie]

what happens if you only have had dealings with 1 bank

 

[MikeFisher]

than you present only that one record and all will be fine.
Mike

 

[MerengueDutchie]

When I tried to do that, the bank manager still insisted on 3 foreign banks...


My dominican references were no good either... a Dominican laywer who regularly appears on TV, a Santiago college professor and a Dominican army colonel...

Well I just gave up adn am now using my foreign bank accounts.

 

[mountainannie]

Four years ago

mountainannie: How long ago did you open the account?



I went to Banco Leon, Banco Popular, Banco Progresso, and Banco BHD. They all wanted additional information other than a USA Passport.

Sorry this took so long.. I opened the account at BanReservas four years ago in Las Terenas. Banco Popular at the time wanted personal reference but BanReservas was fine with just having the passport.

Since I travel along the border and in small towns, BanReservas was the best one for me since they are often the only bank in town.

 

[MikeFisher]

i went to BHD Bank with a friend of mine around 10 days ago,
that friend is new to the island and never had any bank account in the DR, i am myself a regular customer with that bank since many years with my business accounts and private accounts, they requested nothing from him, he presented his passport and opened a pesos withdrawal and a US$-Savings account in his name, the paperwork been done within 30 minutes, he deposited 1.000.- dollars on the dollar account and 50.000.- pesos on the pesos account, the bank did not request those high amounts, if i remember it right the minimum deposits would have been $500.-US and just 1.000.- pesos. they've been completely fine with my presence as 'guaranter', i did myself not need to sign any kind of paper. so i guess that Colonel and the TV Lawyer been not some with a good reputation in the banking 'puter system, lol.
if you know somebody living on the island since a while who has his bank accounts here, specially when that person runs a business account, go to his local branch together with that friend and it will be hassle free.
good luck
Mike