santa cruz bank in sosua

Rep Dom

Bronze
Dec 27, 2011
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Hi, I need to open an account for my daily expenses in Sosua.
Quite a few poeple (expats) suggest that Santa Cruz is the right choice.
What do U think?
:)
 

zoomzx11

Gold
Jan 21, 2006
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Do not expect anything like US standards for the banks here. By comparison they are terrible. There are fees for too little use of your account, too much use of your account. They are all about getting their hands on your money and make no bones about it. There is little or no service, except in the agricultural sense and then it is done without any lubrication.
 

dom

New member
Jun 1, 2011
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santa cruz must be one of the slowest and worst service bancs around.

even if there is a line with 10 people and theres only 2 cashiers open, one is usually blocked by money lound/changers, changing and depositing huge amounts permanently, and the manger will just sit in there in his glass palace and ignore whatever happens around him, he will also only great you if you are at a certain "cashflow" level for him to reach down and great you.

for a simple deposit, calculate anything between 15 to 30 min. more "complicated" tasks as paying your credit card and change money at the same time, bring at least 20 to 35 min of your time, even if the banc is completely empty.

why would we have to go to some checkout bar to findout more, why dont you tell us about it right here right now ?
 

zoomzx11

Gold
Jan 21, 2006
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My experience is that all the banks act exactly as dom describes. Dont even think about trying to cash a check!! They hold checks drawn on other DR banks nearly forever. Cashing checks goes better if you make froends with a cambio money change operation.

dont expect much and you wont be disappointed.
 
Mar 2, 2008
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wouldnt it be more constructive to let us know which you find to be the best and why

errrrrrrm, I think zoom's point was that all banks here are equally bad, and it would be a particularly difficult task to pick a "best" out of such a poor selection.

In my opinion, zoom's analysis is correct, and Santa Cruz is no exception. I have had an account there for many years and I have found them to be unfriendly and unhelpful, but I don't think changing banks would necessarily change that situation. They are all essentially the same.

I have also done business with Popular and Progesso, and I found them to be equally bad.

jr, do you have a personal favorite that you would recommend?
 

jrhartley

Gold
Sep 10, 2008
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I bank at santa cruz but dont actually go in there lol, so cant really comment- on the rare occasions Ive been in the girls seemed very friendly but the paperwork seems a little over the top- the air conditioning is nice so one can take a book while waiting ones turn I suppose
 

zoomzx11

Gold
Jan 21, 2006
8,367
842
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Exactly!!!! Thanks, Catcher. Had my Visa card swallowed at S.C. atm at night. Clever thieves even had a decal posted on the machine giving a number to call for assistance. I did not give them my pin but they managed to withdraw a substantial amount over night. Next am I was there for the bank opening and the manager said it happens frequently and even though they have a video of the criminals the local pd does not seem interested in catching them so they have given up even reporting it to the police.
Good old US bank refunded every penny of the stolen money. Something that would never happen with a DR bank. I have tried all the banks and not found one to be any good. The waiting is infuriating. Unless you are pregnant they keep you waiting while they drink coffee, talk to friends, and take breaks. Pregnant? you go to the front of the line. One good thing!!
At the atm outside the bank across the street from Super Super liquors (cannot remember the name) I found a atm card someone had left in the machine. I went inside to turn it in and wanted a receipt saying I had found it and the name of the bank employee I gave the card to. The card belonged to one of the banks clients. They refused to give me anything and wanted the card. I laughed and walked out. I destroyed the card. I dont trust any of them and am rarely surprised by their shennigans.
 

AlterEgo

Administrator
Staff member
Jan 9, 2009
23,097
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South Coast
Maybe things are different on the south coast, but we've never had any problems with BHD at any branch. We use SD branches and the one in La Sirena/San Cristobal very frequently. When we were on the north coast last year, I was in and out of the Cabarete branch in about 5 minutes.
 

belgiank

Silver
Jun 13, 2009
3,251
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Like everything else here, it is all about contacts, and being smart.

I am with BP, had an account there for 3 years, now wanted to add my wife for residency reasons. I was told by one girl, that as my wife is a gringo, she would need a guarantor (Dominican), references, etc... I told her, I have had the account for 3 years, I will be the guarantor. She now uses my account, what the hell is the difference? No go...

Just talked to another girl at the same branch. I was waiting for the ATM to become free, and she was waiting for her guagua. For one reason or another, I am known to her as Peter, el entranador de perros. She told me to come in tomorrow, with my wife's passport, and she would arrange it, no probs.

And yes, sometimes there are long lines, and it takes for ever. Use the drive-through!!! For some reason they are always helped first!!!

BelgianK
 

Criss Colon

Platinum
Jan 2, 2002
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yahoomail.com
If you use "Scotiabank" in Sosua, you will now have the "OPPORTUNITY" to drive to Cabarette to use their office there!
Sosua branch is closing.
"LUCKY YOU"!
CCCCCCCCCCCCCCCCCCCCC
DR banks are just like US Airlines.
Sooner-Or-Later they will disappoint you, or WORSE.
"Customer Service"?????????????????????????
"LMFAO"!
While TRYING to withdraw $100 US from their "Cash Machine" (Banreservas) the: "Transaction Timed Out" message appeared twice.
I immediately called my US bank to see if the money had been withdrawn from my account.
IT HAD BEEN!!
They contacted "Banreservas" :bandit:who said that the money was withdrawd from the machine.
Mt US bank deposited the $200 dollars back into my account.
"'Nuf Said"!!!!!!!!!!!!!!!
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
 

Leroyus

New member
Oct 15, 2012
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I hear from some very good friends in the banking industry that Santa Cruz is in trouble as they are a small independent bank and are very exposed to the markets which as we all know is not good. If I were you, I would look at some on the big national banks and spread my savings among them. So if you have money with them, I would move it out.
 

thomasj

New member
Mar 31, 2010
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During my divorce proceedings my ex wife's lawyer went from bank to bank in Sosua to find out where I had an account.
Santa Cruz was happy to reveal the existance of my account and the size. So much for bank secrecy in the D.R. The account was promptly frozen an I lost half of my money. Apparently anyone can have your account frozen an then it is up to you to prove if it was justified or not. That can take months or years. I have had no bank account in this country for many years now.
With my bank card I can withdraw $RD20,000 per day from my foreign account which is perfectly adequate for my modest needs.
 

caribeman

Member
Dec 26, 2011
293
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Enjoy meeting new people/cultures
I find Scotia Bank to be very good. Sorry to hear about the location in Sosua. I initially used them because of their relationship with Bank That Ate America(B of A). I try now to do all my banking through them and will be glad to dump B of A. Staff is friendly. Understand and help with my improving Spanish. $30 Rd per month fee is beautiful compared to my former $12 and $18 US charges. A 25 Rd non Scotia ATM fee is good. Wire service is a rip like every bank $25 to send to US. The online banking is easy to use, simple and clean to read and when i lock myself out I can call and speak with someone in English who usually can clearly help me fix it. Hope that helps...
 
Sep 4, 2012
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During my divorce proceedings my ex wife's lawyer went from bank to bank in Sosua to find out where I had an account.
Santa Cruz was happy to reveal the existance of my account and the size. So much for bank secrecy in the D.R. The account was promptly frozen an I lost half of my money. Apparently anyone can have your account frozen an then it is up to you to prove if it was justified or not. That can take months or years. I have had no bank account in this country for many years now.
With my bank card I can withdraw $RD20,000 per day from my foreign account which is perfectly adequate for my modest needs.

In sickness and health, till we are broken apart.....well, now you are. BTW laws are laws and that account although in your name was also common property. The right thing was done, be lucky you weren't charged with hidden assets allegations.
 

j&t's future

Bronze
Mar 6, 2007
2,502
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I hear from some very good friends in the banking industry that Santa Cruz is in trouble as they are a small independent bank and are very exposed to the markets which as we all know is not good. If I were you, I would look at some on the big national banks and spread my savings among them. So if you have money with them, I would move it out.

A truely alarming post, one that could start a 'run' on the bank. Google Banco Santa Cruz and check news for the bank, there is nothing to suggest they are in any kind of trouble.
I no longer bank with Santa Cruz but have many friends who do.