Swift Code or IBAN # - (Banco Santa Cruz)

chico bill

Dogs Better than People
May 6, 2016
12,573
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I recently opened a new account and want to switch from BanReservas to Banco Santa Cruz

Now I had no issue setting up transfers with BanReservas, but they are not a user friendly bank if I need to go in
Banco (super long & a not so friendly staff) Santa Cruz most definitely is with very friendly people - in my case.

But in trying to set up the first wire tansfer from Chase bank after I enter the Swift code the correct bank and address in Santo Domingo appear but when entering the account number (mine) it tells me "Please tell us a IBAN using only letters, numbers and/or these characters: /-"

Anyone have experience transferring to Banco Santa Cruz who might tell me what I might be doing wrong without protracted phone calls
 

CFA123

Silver
May 29, 2004
3,512
413
83
Agree with abuela. I used SCRZDOSDXXX two days ago and transfer went thru.

As for the IBAN... it should just be your account number. Don’t include any spaces.
 

Mauricio

Gold
Nov 18, 2002
5,607
7
38
It might be that there is an intermediary bank involved and then the iban they ask is the iban of Santa Cruz with that bank. Your account would then be additional information.
 

chico bill

Dogs Better than People
May 6, 2016
12,573
6,328
113
That may be it but Chase told me the Intermediary Bank, which is Citibank would be automatically contacted
 

Uzin

Bronze
Oct 26, 2005
1,386
20
38
It's extra complicated when there is an intermediary bank, I gave up trying to transfer to BHDLeon because of that.... (that is transferring via internet/online and not turning up at a bank to fill up forms etc.).

(I know some other banks can accept international transfers directly, Banco Popular is one of them.)
 

chico bill

Dogs Better than People
May 6, 2016
12,573
6,328
113
It's extra complicated when there is an intermediary bank, I gave up trying to transfer to BHDLeon because of that.... (that is transferring via internet/online and not turning up at a bank to fill up forms etc.).

(I know some other banks can accept international transfers directly, Banco Popular is one of them.)

I finally got my transfer to leave my US Chase bank doing it from an online transfer.
Let's see how long it takes till Banco Santa Cruz record it and makes funds available (hopefully it does show up in my account).
The secret was not using the "dashes" that Banco Santa Cruz gave me in my IBAN #. Just the letters and numbers
 

AlterEgo

Administrator
Staff member
Jan 9, 2009
23,097
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South Coast
It's extra complicated when there is an intermediary bank, I gave up trying to transfer to BHDLeon because of that.... (that is transferring via internet/online and not turning up at a bank to fill up forms etc.).

(I know some other banks can accept international transfers directly, Banco Popular is one of them.)

We bank at PNC in USA and BHD in DR. There is an intermediary bank, and what a nightmare. Did it twice and no more. Maybe it’s easier if one lives in places where Dominicans bank transfer frequently to DR.

For now, we found an alternative for our monthly bills and payroll. BIL has an account with PNC, so we deposit dollars into his account here, and he disburses pesos there. He’s also depositing a small amount into our BHD account to keep them from locking it, it was a pita to get it reopened last time.
 

william webster

Platinum
Jan 16, 2009
30,247
4,329
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WW,

How much are you able to transfer w/o being questioned and money being held hostage?

It has been my case for the most part, especially with BHD.

I only do small amounts >$10,000
When it’s larger like house building, I send it directly to the builder or the lawyer who then passes it on

I don’t get involved in big bu have moved $20-30k for cars no problems
 
Sep 4, 2012
5,931
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I only do small amounts >$10,000
When it’s larger like house building, I send it directly to the builder or the lawyer who then passes it on

I don’t get involved in big bu have moved $20-30k for cars no problems

Thanks.

This could be the case, amounts involved and the money laundering laws affecting the banking platform in the DR.