Results 1 to 9 of 9
  1. #1
    Regular
    Join Date
    Nov 2007
    Posts
    36
    Post Thanks / Like

    Default Another banking question

    Do banks in the DR move funds as in the US?

    I'm thinking if an account is opened in a DR bank and funded through a quarterly transfer from a US bank:

    a second account can be opened in the same DR bank and funds moved electronically with online access from account #1 to account #2 on a monthly basis.

    details of each account would be separate

    any ideas?

  2. #2
    Gold
    Join Date
    Nov 2002
    Posts
    5,356
    Post Thanks / Like

    Default

    yes, at least Banco Popular allows you to do that.

  3. #3
    Bronze
    Join Date
    Feb 2012
    Posts
    766
    Post Thanks / Like

    Default

    I bank at santa cruz. I have a dollar account I send money to. I transfer to my peso account. I transfer again to joint account for wife to use. I do this all online.

  4. #4
    Regular
    Join Date
    Jun 2013
    Posts
    37
    Post Thanks / Like

    Default

    Mauricio is correct it can be done with Banco Popular and with Banco Popular you can also electronically transfer to accounts at other banks. I have personally done it with a BanReservas account but other banks are listed for online transfers also. It is a good system.

  5. #5
    Newbie
    Join Date
    Jun 2013
    Posts
    2
    Post Thanks / Like

    Default

    BHD will do the same as the other posts; however, there is a 6 month wait before you can move funds from the US

  6. #6
    Regular
    Join Date
    Nov 2007
    Posts
    36
    Post Thanks / Like

    Default

    Quote Originally Posted by RGLRM View Post
    Mauricio is correct it can be done with Banco Popular and with Banco Popular you can also electronically transfer to accounts at other banks. I have personally done it with a BanReservas account but other banks are listed for online transfers also. It is a good system.
    Are there any fees to transfer from Popular to another DR bank?
    or any fees to receive funds by the second bank?

  7. #7
    Regular
    Join Date
    Nov 2007
    Posts
    36
    Post Thanks / Like

    Default

    Quote Originally Posted by rogerjac View Post
    I bank at santa cruz. I have a dollar account I send money to. I transfer to my peso account. I transfer again to joint account for wife to use. I do this all online.
    Does this sound right?
    Open a dollar account @Santa Cruz in single name.
    Deposit a check from a US bank (ie. $4500) every quarter.(no fees involved, only waiting period)
    Open a second peso account in joint name @Santa Cruz.
    Have a monthly electronic transfer set up to move and convert $1500 USD to the peso account.
    Only the individual owner will have online access to the dollar account.
    Both joint owners will have online access to the peso account.
    ATM card can be issued for peso account and used by both.

  8. #8
    Regular
    Join Date
    Nov 2007
    Posts
    36
    Post Thanks / Like

    Default

    Quote Originally Posted by ricky11 View Post
    you are looking for trouble. let me tell you a little story--my wife, who is Dominican, had 10000 pesos withdrawn from her account on a Saturday and again the next day. when she noticed on Monday that 20000 had been withdrawn, she went to the bank and was told that they would investigate. well, that was more then 3 years ago and she has not been reimbursed. it was naturally an inside job since they have all your info but nothing was done and if they can do that to a Dominican, guess what they can do to you? why not have the ck deposited in a us bank and then find a person here that will cash the check. ask chris colon how he does it
    So stay away from banks in the DR altogether?

  9. #9
    Platinum
    Join Date
    Jan 2002
    Posts
    21,792
    Post Thanks / Like

    Default

    An, "Inside Job" here in the DR often means your Wife!!!!!
    Stay away from opening an account in a Dominican's name, ALTOGETHER!
    There will ALWAYS be funds missing that they know nothing about!
    "No Fui Yo", is all you will get in return.
    CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
    KEEP Total Personal Control of your money
    The only account I have here, NOW, is a "CC" with Banreservas.
    I owe them, not visa versa.
    Just be VERY SURE to never fail to pay it off every month, BEFORE the due date!!!!
    CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •