What Bank you trust more?

NALs

Economist by Profession
Jan 20, 2003
13,368
3,150
113
Popular is the best Dominican bank. Every year they are recognized as one of the best and most well managed banks in Latin America. They are also the largest bank with branches in so many places that you are never far away from one.

Banreservas was founded by Trujillo, its owned by the government and is one of the few truly successful state owned companies. I say that the day you hear that Banreservas has failed is the day you can count that the DR itself is done.

Another bank I trust is Leon, mostly because the owners are some of the most serious business people in the country, but a few months ago there were rumors that they wanted to get out of the banking business. I don't know what has happened since then.

There are other small banks that have good reputations, such as Santa Cruz, but their problem is that they don't have many branches. If you are frequently travelling, this could be a problem.

And then there are banks like Peravia that I wouldn't go near under any circumstances. Sketchy owners and all of that.
 

pauleast

*** I love DR1 ***
Jan 29, 2012
2,837
1
0
Popular is the best Dominican bank. Every year they are recognized as one of the best and most well managed banks in Latin America. They are also the largest bank with branches in so many places that you are never far away from one.

Banreservas was founded by Trujillo, its owned by the government and is one of the few truly successful state owned companies. I say that the day you hear that Banreservas has failed is the day you can count that the DR itself is done.

Another bank I trust is Leon, mostly because the owners are some of the most serious business people in the country, but a few months ago there were rumors that they wanted to get out of the banking business. I don't know what has happened since then.

There are other small banks that have good reputations, such as Santa Cruz, but their problem is that they don't have many branches. If you are frequently travelling, this could be a problem.

And then there are banks like Peravia that I wouldn't go near under any circumstances. Sketchy owners and all of that.

Precisely said.
 

Chirimoya

Well-known member
Dec 9, 2002
17,850
982
113
This is based on completely subjective personal experience: Popular has more modern mechanisms but the customer service at BanReservas is more personalised.
 

Squat

Tropical geek in Las Terrenas
Jan 1, 2002
2,239
168
63
BanReservas. As Popular will always find a way to make you pay hidden fees, here and there...
 

william webster

Platinum
Jan 16, 2009
30,247
4,329
113
Everyone has different ideas and needs from a bank.

ScotiaBank will be the powerhouse in the country in terms of fiscal/financial responsibility and is a multi-country bank.
One of Canada's five.
Been in the Caribbean for over 90 years.

I use both Progreso and Scotia.... the Progreso decision was based on branch access and ease and familiarity with the staff.

Fees? They all have fees
 

Smart

Bronze
Jun 16, 2012
709
0
0
Banreservas are easier to get loans, finance on cars etc. BP can be very slow and I've had a bad experience with them, although still use them.
If I was looking to get financed in future BR all the way, for user friendly options and ease of moving money around, BP.
 

caribmike

Gold
Jul 9, 2009
6,808
202
63
I am client of BPD. Four weeks ago I solicited financing for a car. I am still waiting for any response from BPD despite I was told I qualify without a doubt etc.

Well, I am still waiting for an answer from BPD, but not for my car... ;) Banco Reservas needed 3 days to give me the loan and I even wasn't a client there.

Wish that BPD calls me to tell them how much better / faster BR is lol and how nice drives my Tucson :)

Because of that "sercive" I am now considering switching to BR...

"...This is based on completely subjective personal experience: Popular has more modern mechanisms but the customer service at BanReservas is more personalised..."

Exactly what I experienced! They even picked me up at home!
 
Feb 7, 2007
8,005
625
113
...and Popular has LOOOONG lines.... BR has long lines as well but sometimes BR lines seem to be moving faster than BP. In certain aspects BR is more bureaucratic than other banks. Myself, I like Leon because they offer prepaid visa debit cards, and Santa Cruz because of personalized service and more "upscale" attitude, and Progreso because they offer debit American Express. I don't like Popular at all.... Scotiabank is also very very stable but it's in the most expensive tier.
 

rogerjac

Bronze
Feb 9, 2012
1,389
456
83
Im with Santa Cruz and I like their service. Not much of line ups when I go in personally. They really seem to protect my asstits. If I withdraw from a ATM and an hour later buy groceries they call to make sure it was me. Wish they had more branchs and Atms. I tried Banreservas and the linups suck.
 

CG

Bronze
Sep 16, 2004
984
146
63
past experience,

1st bank - Progresso - easy to open an account, like a kid's bank, nice people, lollypop's/candy but statements arriving months late and transactions of others on the acount... Will add that all of which were cleaned up with efficiency and apologies, but felt that an adult bank would be nice.

2nd bank - Scotia - Disaster all the way around !!!.

3rd bank - Ban Reservas - fantastic is so many ways but eventually staff changes occurred weekly so you would walk in and know nobody in the branch.
Asked for a business acct and the process got really long with trips to the capital and lost information, gave up completely.

4th bank - Popular, they have been stellar in every way.
 

RGLRM

New member
Jun 25, 2013
37
0
0
I have accounts with both.

I never had an issue with BanReservas yet but the couple issues I had with Banco Popular were handled really well.

One I fixed while I was in the DR and the other on the phone from the States. I was really surprised by that one.
 

eldorada

New member
Mar 9, 2005
52
0
0
Trust-None!
Always check your accounts regularly especially after the first 6 months. You may be surprised by the hidden fee being deducted. If you do your own accounting and use internet banking you may be able to quickly spot the subtle changes.
 

arrugala

Bronze
Nov 7, 2010
967
2
0
Scotia bank in the dr is separate from Canada's Scotia bank i have been led to believe! banca Santa Cruz has for years been good ! Secure , online banking great! not a lot of offices , however their staff are there and dont turnover , so this also a good sign....
 

drescape24

Bronze
Nov 2, 2011
1,918
0
36
I have a savings account in S.C. and.I am able tranfer money on line very easy within S.C. I also like the web page to watch my account. It was easy to open my account and the staff is professional. But I am not asking a lot from my bank either, so I shouldn't have any problems.

drescape24
 

oceanspear

New member
Nov 23, 2012
222
0
0
I have some funds in Scotia Bank, their fees are a little high and they don't pay sh*^t in interest, but I feel my funds are safe there.
I inquired about an account in Banco Popular about a month ago, a good friend of mine is married to a vicepresident of the bank, gave the branch manager's number and call him herself to assist me with opening the account, I called him about a month ago and supplied all the information he asked me for. I was gonna put a nice chunk of change in BP. Long story short is a month later and I still have not heard from the branch manager, mind you I was gonna open an account and get also a CD. I was not asking for a loan. Not one call back from the bank, and that is being reffered by one of the banks VP"s wife!
very unprofesional, will not park my money there. screw them.