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Thread: Banking in the DR - Recomendations

  1. #11
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    I also vote for ScotiaBank. They are aligned in some way with BOA which is my stateside bank. I'm able to move money from BOA to Scotia easily, and neither charges me ATM fees when using one card at the others ATM. ScotiaBank is also available on most other islands throughout the Caribbean which is another reason I use them. They make my Caribbean travels easier.

  2. #12
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    Quote Originally Posted by Wishing you well View Post
    The hump to go over isn't the technology portion, DR its rather updated at all; the same thing could not be said on the methodology, policies and procedures to be followed by a customer as each bank has their own and change them as the day goes by it seems.

    New rules established by every other employee one talk to for the same issues. That is the main hurdle IMO.
    Although there may be some subtle differences, all in all banking is still banking. I find most that incur difficulties or complications bring them upon themselves. Not always the case, but certainly in most. A grasp of the host nation language would assist matters greatly.

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  4. #13
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    Quote Originally Posted by Caonabo View Post
    Although there may be some subtle differences, all in all banking is still banking. I find most that incur difficulties or complications bring them upon themselves. Not always the case, but certainly in most. A grasp of the host nation language would assist matters greatly.
    I'm fluent in Spanish as my parents are from DR and that is all they spoke growing up even though I was born and raised in the states and speak both. Funny when I was a kid I hated translating but I thank them for knowing both now.

  5. #14
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    I personally have used Banco Popular for the last 15 years and never a problem.

  6. #15
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    Quote Originally Posted by jstarebel View Post
    I also vote for ScotiaBank. They are aligned in some way with BOA which is my stateside bank. I'm able to move money from BOA to Scotia easily, and neither charges me ATM fees when using one card at the others ATM. ScotiaBank is also available on most other islands throughout the Caribbean which is another reason I use them. They make my Caribbean travels easier.
    Indeed ScotiaBank operates thruout the Carribean. Do you get charged fee for using their ATM which is NOT the same country that issued the card?

  7. #16
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    Banco Popular is my recommendation for local banking.

    I use a Charles Schwab card in ATMs . I get better rate at an ATM than money changers like Western Union will give you along with refunding any and all ATM fees.

  8. #17
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    Absolutely! Charles Schwab Bank rebates all ATM fees. If you have a brokerage account with them, ask for it!
    I use that wherever I don't have a local bank account.

    And Chase United Mileage Plus is one of those credit cards that have NO foreign transaction fee when used outside the USA.

  9. #18
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    neko
    I use Mileage Plus for big stuff and now the Amazon Prime Visa for all else.
    No foreign fees and you get credit for your purchases.....

    Amazon Prime... 5% at Whole foods, 2% restaurants.... long list

  10. #19
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    Quote Originally Posted by nekokatt View Post
    Indeed ScotiaBank operates thruout the Carribean. Do you get charged fee for using their ATM which is NOT the same country that issued the card?
    Not as long as it is a ScotiaBank in the Caribbean or BOA in the states. It goes both ways too. BOA in Scotia, or Scotia in BOA. The only issue I have had is Transferring money from Scotia Anguilla and Antigua to BOA in the States. BOA to either works well.

  11. #20
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    Quote Originally Posted by jstarebel View Post
    Not as long as it is a ScotiaBank in the Caribbean or BOA in the states. It goes both ways too. BOA in Scotia, or Scotia in BOA. The only issue I have had is Transferring money from Scotia Anguilla and Antigua to BOA in the States. BOA to either works well.
    Using your BoA card in Scotiabank in DR is not free though. USD5 fee + 3% of the withdrawal amount.

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