Need a Dominican bank that is affiliated to the IBAN-system

Makinater

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May 4, 2013
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Read some about it in another thread here, but it didn't contain any useful information to me. I have been trying to transfer money from my Swedish bank to Banreservas, but it can't be done via Internet due to the lack of an IBAN number. The ignorant clerks at BanReservas don't even know what an IBAN number is, and keep telling me that the number they are giving me is the IBAN number of the bank.

IBAN is primarily used in Europe, I know. But it is an international system and the Dominican Republic is a non-European IBAN country with the code format (example number, not an actual account):

DO28BAGR00000001212453611324

The fact that the DR does have an IBAN code format, makes me suspect that at least one bank in the country is affiliated to the system. I would like to open an account in that bank. If anyone reading this do have an account in a bank that is able to give their customers a valid IBAN number to their account, please PM me or post which bank you use here in this thread.

And for posters wanting to discuss how they do to send money using different systems, please post in another thread. It does not help me to know how you send money from the US with the help of Swift codes and ABA number, so save yourselves the band width and get some beach time insted. :lick:
 

Mauricio

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Nov 18, 2002
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The IBAN is unique for each account. The Swift or BIC is the code that identifies the bank. Maybe you filled in the Swift or BIC of Banreservas (BRRDDOSD) in the field of the IBAN?

You could try using this site:

http://www.swiftbic.com/iban-checker.html

choose DO in the country field, BRRD in the Bank Code field and your accountnumber in the last field. Push generate and it should give you the required iban.
 
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Mauricio

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Nov 18, 2002
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the following I think is a valid Banreservas IBAN: DO53 BRRD 0000 0000 0006 1021 9445.

The 53 after DO is calculated based on the accountnumber, so you can not just change the here placed account number for yours. (I changed also one digit of the account number).
 

Makinater

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May 4, 2013
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Wow, Mauricio. Interesting to learn that BanReservas accounts actually do have IBAN. Everyone I have spoken to at BanReservas keep telling me that I only need to use their Swift code (BRRDDOSD) and the "IBAN" of their bank to send money from Sweden. The "IBAN" they try to give me is, according to these morons, 200-01- and then my account number. Of course I filled in the correct Swift and then the number they gave me, but I saw even before I filled it in that it wasn't a valid IBAN. So my Swedish bank didn't accept the transfer.

The sad part is that I have been to several different BanReservas offices in several different cities (including SD). But it is like Mauricio says, that an IBAN consists of one standardized part, and one part that is calculated based on the unique account number. Using the calculator he provided, I managed to generate a valid IBAN number. Now it's up for the test run.

Mauricio - please tell me that you work at BanReservas. If not, you definitely should because it's an enterprise with lots of employees knowing nothing about the business they are in.

Good to know that Popular and Banco de Santa Cruz also can handle transfers with IBAN. I will let you guys know how it went in a week or so (or months, depending on how fast I can get the money to my BanReservas account). If I still have issues with BanReservas, then I'll try Popular or Santa Cruz and see if I can get the issue solved that way instead.

Thanks alot. DR1 is a great source of information indeed!
 

Mauricio

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Nov 18, 2002
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No, I don't work at banreservas or any other bank, but glad I could help, I hope it works!
 

josh2203

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Dec 5, 2013
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Can you tell me what the iban number is for the banco santa cruz?

As said above, the IBAN is unique for your personal account, so either you need to ask that from the bank or check this site, which was also referred to above by Mauricio (but the URL seems to have changed): https://www.iban.com/calculate-iban.html

This site I found easily with Google search for checking which BIC/SWIFT code is or should be valid for Santa Cruz: http://www.theswiftcodes.com/dominican-republic/

Again, just as Mauricio posted above, I?d recommend not to post the complete IBAN in public, as that does include your full bank account number.
 

Virgo

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Oct 26, 2013
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As said above, the IBAN is unique for your personal account, so either you need to ask that from the bank or check this site, which was also referred to above....I?d recommend not to post the complete IBAN in public, as that does include your full bank account number.

The official IBAN generator at the Dominican Central Bank is THIS : http://www.bancentral.gov.do:8080/sipard/main/main.asp

For example, the IBAN for the (fictitious) Santa Cruz bank account: 12345678910
would be: DO50 SCRZ 0000 0000 0123 4567 8910

Notice that the last 11 digits of the IBAN are EXACTLY the same as the account number. That is not a coincidence.
Likewise the first two characters are the DR 2-letter country code: DO (same for all DR banks).

You can do some web search on the IBAN to better understand how it works.

P.S. In some countries (like Germany) everyone gives his/her complete bank account number to anyone (and many institutions post theirs at their websites) because great many payments are made through bank-to-bank transfers. Even scarier, you may be able to buy CERTAIN goods online just giving your bank account (which everyone who has ever paid you with a bank transfers knows). The system works fine, though.
 

josh2203

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Even scarier, you may be able to buy CERTAIN goods online just giving your bank account (which everyone who has ever paid you with a bank transfers knows). The system works fine, though.

That?s called direct debit, and a form of it is also in use in the US (ACH transfers I believe).

It?s not just online (now referring to EU), it?s used with a number of contacted services (electricity, telcom, in some cases, even rent), but also big online retailers even prefer it (Amazon).

Sorry, off-topic for DR.
 

potus

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Dec 27, 2015
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Can you tell me what the iban number is for the banco santa cruz?

Banco santa Cruz is a great Bank, but does not use the IBAN system at all. Neither for sending or receiving funds. It makes things very difficult and is hard to understand. Banco Popular uses Iban.
 

london777

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Dec 22, 2005
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I am unable to transfer money direct from my UK bank (LloydsTSB) to my Dominican bank (BHD/Leon). It has to go via Banco Sabadell in Spain. Is that because BHD/Leon does not participate in the IBAN system?
 

jinty05

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Feb 11, 2005
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Adrian

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Oct 22, 2003
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Suggest you change bank accounts to Banco Popular and use HiFX

You may want to try using HiFx with your current dominican bank first. Before I switched to using HiFX my UK bank used to transfer money via an intermediary to Banco Popular, so it may be that just using HiFx might resolve the problem. You are also likely to get a better exchange rate with HiFX.
 

jd_mine

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Sep 24, 2003
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I am unable to transfer money direct from my UK bank (LloydsTSB) to my Dominican bank (BHD/Leon). It has to go via Banco Sabadell in Spain. Is that because BHD/Leon does not participate in the IBAN system?


BHD/Leon does have an IBAN number.
Mine for example is DO83BCBH000000000xxxxxxxxxx (with the xxx being my actual bank account number).
And yes, you can directly transfer money from your european bank account doing an international transfer to your IBAN number in RD.

If you have the BHD/Leon internet banking you can retrieve your IBAN by logging in your BHD internet banking, look at the line that has your balance
and click on the word 'consulta'.
It is the 2nd column with header 'Est?ndar Regional de Cuenta'.

I have to say though that using a 3rd party like Skrill in between your bank and BHD/Leon is cheaper.
My bank here in Europe charges outrageous sums to transfer money to RD.
 

bob saunders

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Jan 1, 2002
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dr1.com
BHD/Leon does have an IBAN number.
Mine for example is DO83BCBH000000000xxxxxxxxxx (with the xxx being my actual bank account number).
And yes, you can directly transfer money from your european bank account doing an international transfer to your IBAN number in RD.

If you have the BHD/Leon internet banking you can retrieve your IBAN by logging in your BHD internet banking, look at the line that has your balance
and click on the word 'consulta'.
It is the 2nd column with header 'Est?ndar Regional de Cuenta'.

I have to say though that using a 3rd party like Skrill in between your bank and BHD/Leon is cheaper.
My bank here in Europe charges outrageous sums to transfer money to RD.

The Estandar Regional de Cuenta is the same as IBAN. if YOU ASK AT YOUR Dominican Bank for their 'Est?ndar Regional de Cuenta' and then check that number in the IBAN calculator it will show it as a valid IBAN. My BHD number , which I just used is different than jd_mine, Mine is DO79BCBH000000000xxxxxxxxxx