Update opening Savings Account

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caribmike

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Jul 9, 2009
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OK since being that dumb with the "passport depurificacion" which obviously gets not enough attention :) I decided to open a new thread hopefully finding some information now....

The issue is I cannot figure out where or what bank gives one an account right away here in Bavaro. As far I asked around it is none. We have accounts in the name of my wife at Banco Leon and Banco Popular (both in good standing) and in BOTH institutions they require "depurar" my Passport and "referenciales comerciales" (which I have) even for only adding me as an additional beneficiary to the existing accounts. That makes it impossible for me to believe that foreigners went into a bank with their passport and came out half an hour later with their "libreta". Banco Popular needs 2 - 3 days and Banco Leon a month (!) to "depurar" ones passport. I need the account fast b/c I receive weekly payments from the US and the next is due.

Another question I have is I owned an account at BanReservas, but I abandoned it (less than 10 years) and lost the card / libreta. Somebody knows if I can re-activate it with my passport? That would solve everything for me.

The other issue I have an old debt with codetel out of reluctance to pay for a service charged but not delivered as promised , could it be that a bank would refuse to allow me to open a savings account? Where could a debt like that be "stored" and where I could get information about that?
 

JimmyGibbon

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Jun 24, 2010
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Just a suggestion

In the interim before you are able to open a bank account, you may consider opening a Paypal account. You could then have the weekly payments that you receive sent to you via Paypal.





Jimmy
 

caribmike

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Paypal I have but it is of no use since paypal does not pay out to Dominican Banks. I use paypal for online shopping though. Thanks anyway.
 

Tamborista

hasta la tambora
Apr 4, 2005
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Never mind, Caribmike responded about PAYPAL in RD, useless without a US or EU bank account!
 

Tamborista

hasta la tambora
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If you have a visa prepaid card of Banco Leon, Paypal can deposit on that.

A Dominican bank account can not be linked to PAYPAL, plain and simple miamor. See for yourself on the on PAYPAL website. You can send money to somone with a PAYPAL account, but they will not get it transferred to a Dominican bank account.

FROM PAYPAL WEBSITE

Recipients in the Dominican Republic can withdraw money you send using one of the following options:
  • Spend the money online at thousands of stores that accept PayPal
  • Transfer it to their U.S. bank account (withdrawl takes 3-5 days)
 
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caribmike

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If you have a visa prepaid card of Banco Leon, Paypal can deposit on that.

I don't think so, we are talking about (unfortunately) a "Dominican" Paypal account, and the prepaid card from Leon is...
In my Paypal the only option is a "US Bank Account" which, as non US citizen I can't get. Everything else is NOT supported. :(
 

Tamborista

hasta la tambora
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Well, I have a Leon prepaid Visa, that is....

Trust me, you can NOT transfer a PAYPAL balance to a Dominican Debit Card!
You need a US or EU bank account linked to your PAYPAL account to move the money from PAYPAL back to the bank.
 

caribmike

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Trust me, you can NOT transfer a PAYPAL balance to a Dominican Debit Card!
You need a US or EU bank account linked to your PAYPAL account to move the money from PAYPAL back to the bank.

I know that it is NOT possible, that answer was to Acira to let her know I own a prepaid Visa from Leon and to show that I am aware of that it doesn't work ;)
 

Tamborista

hasta la tambora
Apr 4, 2005
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I know that it is NOT possible, that answer was to Acira to let her know I own a prepaid Visa from Leon and to show that I am aware of that it doesn't work ;)

Yes, I agree with you Mike, as I see you have done your research as well. Acira was just guessing without actually using PAYPAL or going to the PAYPAL website which clearly explains the mechanics of money transfer internationally. It is really a disservice to the community when folks post gibberish as facts on dr1.

http://www.youtube.com/watch?v=k3UL_Qtd-fM
 

Tamborista

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I am not interested in what you or Belgiank have to say, your credibility is out the window.
 

belgiank

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Jun 13, 2009
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Trust me, you can NOT transfer a PAYPAL balance to a Dominican Debit Card!
You need a US or EU bank account linked to your PAYPAL account to move the money from PAYPAL back to the bank.

you are right, but there is a way around it. f.e. Banco Leon uses an account in the US if you want to transfer Euros from your account in Europe to the DR account with Banco Leon. You can use this same account to transfer paypal money to your account with banco leon in the DR. So no gibberish from Acira, only some inventive banking and brains needed.

BTW we have a premium business account with paypal and have worked with them since several years.
 

Tamborista

hasta la tambora
Apr 4, 2005
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Banco Leon in the US is not a Dominican Bank Account!
I guess I can call you two Grupo Gibberish, thanks for the clarification.
 

caribmike

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Jul 9, 2009
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Well, maybe anybody can tell me something about the other part of the question I have, the "BanReservas" part. Even not having the card / libreta anymore I should be on file there still and it should be possible to reactivate that account, or?
 

Hillbilly

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Jan 1, 2002
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Seems like you all are comparing apples to oranges, and fighting over it. Exercise a little patience please. Seems to be a lot of confusion. Perhaps a visit to Banco Leon would be the best thing for all concerned.

I am going to close this one to prevent bloodshed.

HB
 
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