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  1. #1
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    Default Minimum balance increased at Banco Santa Cruz

    Just giving the heads up to customers of Banco Santa Cruz. The minimum amount required in the dollar account to avoid charges has increased from $300 to $500 with effect from July. I found out by chance, no notifications have been sent as far as I can establish. $10 will be deducted every month if your account is below that figure.

  2. #2
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    GEE banking fees are here! another bad idea imported from the US

  3. #3
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    Quote Originally Posted by Linda Stapleton View Post
    Just giving the heads up to customers of Banco Santa Cruz. The minimum amount required in the dollar account to avoid charges has increased from $300 to $500 with effect from July. I found out by chance, no notifications have been sent as far as I can establish. $10 will be deducted every month if your account is below that figure.
    They are doing everything they can to destroy foreign investment in their country.

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  5. #4
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    Quote Originally Posted by bdablack View Post
    They are doing everything they can to destroy foreign investment in their country.
    By increasing their minimum balance requirements, you are saying that Banco Santa Cruz are doing everything they can to destroy foreign investment in the DR? And $300 is "foreign investment"?

    I have an account with Wells Fargo, who some time ago raised their minimum balance requirement to US$1,500 to avoid a monthly charge (think it is $15pm). After what you have posted, I fear that it is a conspiracy of Wells Fargo to bring the US economy to its knees.

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  7. #5
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    I went through this a couple of years back with Progreso, my objection is that they don't let you know in advance so that you have the option of raising your balance if you want to and/or are able to. Some people don't touch their accounts for months only to discover a hefty chunk missing when they next go to use it.

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  9. #6
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    I agree. I recently received my statement at my request and was ****ed off to find that they were now deducting $10 per month from my dollar account without any notice or explanation. I will up my balance for now and explore other options when I come there later this year.

  10. #7
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    Quote Originally Posted by Linda Stapleton View Post
    Just giving the heads up to customers of Banco Santa Cruz. The minimum amount required in the dollar account to avoid charges has increased from $300 to $500 with effect from July. I found out by chance, no notifications have been sent as far as I can establish. $10 will be deducted every month if your account is below that figure.
    Great you told everyone about this Linda because there is NO WAY the bank would tell you although I'm sure they'll tell you somewhere in the bank there's a small message in Spanish explaining the change of policy. They have done the same with the peso account, one of several reasons I closed our account there earlier this year.

  11. #8
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    My bank accounts in the US have min $1500 to avoid monthly fees.

    Anyone here who has an account and cannot afford to keep $500 in it earing more interest than you can in the US, should consider closing it.

    Bob K

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  13. #9
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    Quote Originally Posted by sosuamatt View Post
    I agree. I recently received my statement at my request and was ****ed off to find that they were now deducting $10 per month from my dollar account without any notice or explanation. I will up my balance for now and explore other options when I come there later this year.

    What's wrong with Popular or Leon? There's no harm opening an account elsewhere.

  14. #10
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    Quote Originally Posted by Bob K View Post
    My bank accounts in the US have min $1500 to avoid monthly fees.

    Anyone here who has an account and cannot afford to keep $500 in it earing more interest than you can in the US, should consider closing it.

    Bob K
    Bob, I know what you're saying but don't you think it's a liberty charging a person (WITHOUT INFORMING THEM FIRST) that a $10 monthly fee will be charged even if they are in credit with the bank because their balance is below $500? Who knows, what's stopping them from raising the minimum limit to $2000 in the near future?

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