Banreservas.

nyc dad

Bronze
Jul 28, 2011
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Anyone knows the swift code fo Banreservas? The one from the bank is wrong and online from the swift website is wrong as well.
 

tmnyc

New member
Oct 19, 2006
334
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Anyone knows the swift code fo Banreservas? The one from the bank is wrong and online from the swift website is wrong as well.

BIC: BRRDDOSDXXX
Bank Country: DOMINICAN REPUBLIC (DO )
Bank Address: TORRE BANRESERVAS AVENIDA WINSTON CHURCHILL, ESQUINA PORFIRIO HERRERA, SANTO DOMINGO.

XXX is the branch code. In this case XXX is for: Torre Banreservas Santo Domingo- the Head Office.

SWIFT codes and BIC codes are the same thing and the terms are interchangeable. A SWIFT code is an international bank code that identifies particular banks worldwide. It's also known as a Bank Identifier Code (BIC). A SWIFT/BIC code consists of 8 / 11 characters.
 

reilleyp

Well-known member
Dec 12, 2006
1,190
663
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Anyone knows the swift code fo Banreservas? The one from the bank is wrong and online from the swift website is wrong as well.

Last time I needed a large amount of money in the DR, I deposited a US check, and the people had to wait almost one month for the money. The people kept on calling me, asking what the problem was, and each time I told them that the problem was with Banreservas, not me, and I showed them proof that the money left my account, and the funds had cleared. Banreservas just refused to release the money.

This time, I decided to wire the money from Wells Fargo to BanReservas. Each day for over a week I logged onto my account to see if the money arrived, but each day there was nothing. Finally I called to Samana to find out what the problems was. I made about 10 phone calls between Samana, Wells Fargo, Santo Domingo B.R. etc. It took them three days just to find the wire. So now we are at about 10 days. Finally they told me that the money was not just going to appear there, I had to go down and sign some papers, show my passport, explain the purpose of the funds etc. Off I went to Samana and spend over an hour there furnishing all that information. Three days go by and nothing. They then informed me that I would have to show them three months of history from my US bank account, and show them were the funds came from. None of this really matters because once a wire clears, a wire clears and the money is good. Another three days go by and still nothing. More days of phone calls and emails and still nothing. I finally had to leave the country without completing the transfer of funds to the sellers' accounts. The end result was that it took nearly three to four weeks for the wire to complete, and for me to have access to the funds. They even asked me to get a letter from Wells Fargo, confirming that they sent a wire to me. Wells Fargo refused to write the letter, so I had to find the original confirmation that was printed when I wired the funds. Fortunately they accepted that.
The final blow was when I went to transfer the funds to the sellers online from the Banreservas website, they would only allow me to transfer $3,000 at a time, and three transfers per day, so it took days upon days to finally complete the transfer, because after three transfers, my account would become locked, and we would need to call to have the account unlocked to proceed with the next few dollars. What a fiasco!!! Everytime I called, Samana would tell me to call Santo Domingo, and then Santo Domingo would tell me to call Samana.

Hopefully it will go smoother for you, but I am just sharing my story in case you need the funds in a hurry.
 

william webster

Platinum
Jan 16, 2009
30,247
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On the flip side...

This was money week for me... wired to RD, Canada and the US

I place the wire order in the morning from my own bank, myself online....

The Cdn & US money is there in the afternoon
This week the RD money arrived at Progreso the next day.....a day earlier than normal

Not the big amount you're talking about.
For larger deals - construction , etc.- I send it to the lawyer's office here in RD.
Their account is big... makes no waves when my $$ show up
 

dropshort

Member
May 18, 2008
281
2
18
What it says is

If the sender only specifies an 8 Character SWIFT code is that SWIFT will add XXX to mean head office / International Department.

Banks have taken that to mean an 8 Character SWIFT is OK. When SWIFT is clearly saying 11 characters are ALWAYS used.

We are very precise when we say we want to send $123.45 potentially when we we say where we want it sent as in

"Over there someplace"

There is more. Unfortunately I will have to break it before someone will fix it.


Cheers

DS