Inactive bank account charges

les1

Member
Feb 1, 2007
310
15
18
Had a bad suprise today at banco Progreso. I had deposited 1000 pesos one year ago and deposited 3000 today. When I got my bank book back I discovered that for 6 months they had been giving me a little bit of interest and then after 6 months they made charges of 100 and 35 every month, turning my 1000 into 353 after just under a year. Is this correct?
 

Riva_31

Bronze
Apr 1, 2013
2,533
179
63
San Pedro de Macoris
Had a bad suprise today at banco Progreso. I had deposited 1000 pesos one year ago and deposited 3000 today. When I got my bank book back I discovered that for 6 months they had been giving me a little bit of interest and then after 6 months they made charges of 100 and 35 every month, turning my 1000 into 353 after just under a year. Is this correct?

Yes, every bank has its own politic about those charges, some banks has mothly fee if you are using debit card, if is saving with a book and is Inactive not deposits they start to charge you with a mothly fee, in other if your account is in US and you have in balance less than 500.00 US, they start to apply a monthly fee of 10.00 US.
 
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Derfish

Gold
Jan 7, 2016
4,441
2
0
Had a bad suprise today at banco Progreso. I had deposited 1000 pesos one year ago and deposited 3000 today. When I got my bank book back I discovered that for 6 months they had been giving me a little bit of interest and then after 6 months they made charges of 100 and 35 every month, turning my 1000 into 353 after just under a year. Is this correct?

And at the end of 2 years they will have no record at all of your account ever having existed. maybe.
Der Fish
 

Expat13

Silver
Jun 7, 2008
3,255
50
48
With all the new FATCA and GATCA compliance required reporting these days, inactivity is a valid reason to shut down your account, Im hearing alot of this. Hell, its a survey just doing deposits or wires these days, banks are more interested in charging fees and offering interest. Its the future of banking it seems.
 

jd_mine

Active member
Sep 24, 2003
166
101
43
Same here with my BHD/Banco Leon account.

Went back to DR for the first time in 2 years and discovered I had about a 100 pesos left in my account.
They had been charging like 30 pesos a month for an inactive account. They will probably de-activate it soon. Although a girlfriend of my wife who is a supervisor at one of their Santo Domingo locations, told me they can re-activate de-activated accounts. The accounts still exist.
 

AlterEgo

Administrator
Staff member
Jan 9, 2009
23,097
6,247
113
South Coast
Same here with my BHD/Banco Leon account.

Went back to DR for the first time in 2 years and discovered I had about a 100 pesos left in my account.
They had been charging like 30 pesos a month for an inactive account. They will probably de-activate it soon. Although a girlfriend of my wife who is a supervisor at one of their Santo Domingo locations, told me they can re-activate de-activated accounts. The accounts still exist.



We have a dollar account with BHD.  If I'm not mistaken, the account is marked inactive after 90 days of no activity.  When we get back, it takes under 5 minutes to activate, and they then enter all the interest and charges that have accumulated, the charges are peanuts, and no more than what they are when account is active.  
 

Drro

Bronze
Mar 22, 2006
1,407
102
63
To avoid charges, I go online and move money from my US dollar account to my peso debit card every few months and it's been 12 years and no service charges. This is at Banco Santa Cruz and Bank Leon (BHD now).