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  1. #1
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    Question Which Bank to Open a USD Account

    So, I've tried to read up on old threads but haven't really found the answer I'm looking for...

    Assuming most banks offer US accounts, when opening an account what is the amount that needs to be deposited... I know Scotiabank is $500 USD, but what about other banks...

    ... and which bank is suggested, from what I read Scotiabank isn't sounding too good.

  2. #2
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    don't mess around like i did for years.

    banco popular

  3. #3
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    Quote Originally Posted by la_barbie View Post
    So, I've tried to read up on old threads but haven't really found the answer I'm looking for...

    Assuming most banks offer US accounts, when opening an account what is the amount that needs to be deposited... I know Scotiabank is $500 USD, but what about other banks...

    ... and which bank is suggested, from what I read Scotiabank isn't sounding too good.
    Would agree that Banco Popular is good if you don't allow your balance to drop below their limit for charges - if you do, they will just 'eat' your money!!!!

  4. #4
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    Banco Santa Cruz ....is hands down the winner

  5. #5
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    Banco Santa Cruz with out a doubt. They seem to work will with us Expats and thier exchange rate is alway better the the other banks.

    Bob K

  6. #6
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    BHD is another choice

  7. #7
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    Banco Leon is good and you can transfer money from USD account to pesos account via Internet banking. Also, most banks have a fee after 3 cash withdrawals from your USD account per month. The fee is as much as 10 dollars. With Banco Leon, you can transfer money to your pesos account at no charge, because technically it's not withdrawal but "USD sale" process with the resulting money deposited into your pesos account.

    One more thing - all USD accounts are with savings book, so you do not have access to the account via ATM, you must visit the branch to withdraw money. It might be a consideration, that Popular has the lengthiest and slowest lines of all banks in the DR ... Banco Santa Cruz one of the fastest and shortest (it is a sort of private banking institution).

  8. #8
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    Interesting... now I should've mentioned that I will be on the North Coast (Puerto Plata) and all the years I've been going there I haven't really paid attention to the banks except Scotia and Popular so is there a Bank Leon and Banco Santa Cruz there ?

  9. #9
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    I called Santa Cruz and they are owned by la Familia Pimentel. I don't know who they are, anybody has any info on them? Also they offer certificados de deposito de 6 meses for 5% interest in pesos RD$. Not too shabby.

  10. #10
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    Quote Originally Posted by la_barbie View Post
    Interesting... now I should've mentioned that I will be on the North Coast (Puerto Plata) and all the years I've been going there I haven't really paid attention to the banks except Scotia and Popular so is there a Bank Leon and Banco Santa Cruz there ?
    There is also Ban Reservas and so far I have no complaints with them.

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