- Thread starter snowqueen
- Start date
Wiring money
Are you sure you need the IBAN? When I wire from my account in the US to the DR, I need the SWIFT code for the receiving bank, and the account number of course. Regardless, an IBAN for an account in Spain certainly doesn't seem right, The SWIFT for BHD is BCBHDOSDXXX (you can verify that on line if you wish)
Banco Bhd S.a. IBAN Number - What is the IBAN for Banco Bhd S.a. in the Dominican Republic - Wise
Looking for the Banco Bhd S.a. bank IBAN in the Dominican Republic? Find an example of Banco Bhd S.a. IBAN Number in the Dominican Republic and learn how to find your own here. IBAN is a standard internationally recognised format for a bank account necessary for international money transfers.
wise.com
I have received multiple wires to Banreservas, what I simply did was go the the branch, tell them what I want to do and asked for the information. Any doubts, I asked. Case closed. While I believe the SWIFT can be for a bank abroad in case a particular bank uses an intermediary bank (not sure?), I believe that as IBAN is for your personal account, it really cannot be one meant for another country, so I would check with them...
DR doesn’t use Iban, the Swift code of the bank + account number works fine.
Here is some explanation of the difference between Iban and Swift:
https://www.westernunion.com/blog/e...xt=Here, “GB” is the,do not use IBAN numbers.
Here is some explanation of the difference between Iban and Swift:
https://www.westernunion.com/blog/e...xt=Here, “GB” is the,do not use IBAN numbers.
Out of curiosity, did a quick search, and indeed:
Banreservas
Banco líder del sistema financiero y dinamizador del desarrollo social para los diferentes sectores productivos en beneficio de los dominicanos.
www.banreservas.com
| INSTITUCIÓN BANCARIA | SWIFT | ACCOUNT NUMBER |
|---|---|---|
| Caixa Bank, Barcelona | CAIXESBB | ES6321000566510900064721 |
I believe the above is an intermediary bank in Spain that Banreservas uses. So could well be that the OP was given a Spanish IBAN and then they would need to specify the actual account with BHD in a different way, I think...
I would hesitate wiring funds like this though... Could work just fine but I would hesitate.
Ok I stand corrected, I couldn’t find an Iban 15 years ago so I have been using Swift ever since.
May I ask what do you mean here? IBAN and SWIFT are not the same thing, so not sure why you are comparing them? IBAN refers to a single account whereas SWIFT/BIC is the bank code... Even if you have an IBAN number, you can still use SWIFT.
Now that I think of it, you're saying that you could not locate the IBAN for your account in the DR so you just used the account number in the local format and used that always together with the SWIFT? As far as I can think of, that would work but may slow things down...
This. Takes less than a day usually. I also pay the transfer costs as the DR banks like to charge more.
Btw first part of IBAN is a bank code embedded.
These are the type of situations that with the new DR banking system will be a thing of the past.
The Central Bank is testing a new system (they made the announcement last week) and all private bank owners, plus Banreservas, will be integraded into a new interbanking system similar as LBTR but with steroids (similar as Interac/etransfer system from Canada)
@bob saunders @chico bill
www.diariolibre.com
The Central Bank is testing a new system (they made the announcement last week) and all private bank owners, plus Banreservas, will be integraded into a new interbanking system similar as LBTR but with steroids (similar as Interac/etransfer system from Canada)
@bob saunders @chico bill
Banco Central anuncia la implementación de una nueva plataforma para pagos al instante
El proyecto será desarrollado con el acompañamiento del BM y la colaboración de las entidades de intermediación financiera y de pagos del país
www.diariolibre.com
If the DR (and Canada) could get on board with Zelle our world would be a simple place to do bank transfers
Of course Zelle is free bank to bank in the US - something DR Banks won't do because they make big money charging people to make deposits
Of course Zelle is free bank to bank in the US - something DR Banks won't do because they make big money charging people to make deposits
Looking at the link shared in post #9, Deutsche Bank appears to be an intermediary bank for CAD transfers. As I don't need an intermediary from my US bank to Banco Popular, I don't know exactly what the OP needs in order to correctly request a transfer. Her bank should be able to assist with that, as long as she has all the info (this intermediary info as well as the SWIFT for BHD and the account number/info of the recipient)
DR banks won't agree on this my friend. The 0.15% tax on transactions is a huge profit for them.
As far as I know, all money wired out of the US is required to go through an intermediary bank. One of the purposes is to counter money laundering. It's done automatically. I never had to specify the intermediary bank.
As Billy Joel would sing...you may be right, I may be crazy
As long as the bank gets it right!