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  1. #1
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    Feb 2005
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    Question Money in Scotiabank

    Hi, I have not been going to the DR as often as I would like but still have a few thousand dollars (USD) in Scotiabank. I was wondering if the account can stay inactive for a very long time. I was once out of the country for a couple months and they deactivated it, only to reactivate it when I asked. This time I might not be able to get back down to the DR for a couple years. Will the money remain safe in Scotiabank (assuming there is not a crises) and will it contunie to earn interest?

    Thanks for you help!

  2. #2
    Regular
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    Feb 2004
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    I wouldn't leave my oldest pair of shoes in this Country, and expect to see them again!
    TEHAMA
    ("ADD"ing today, see my thread in living)

  3. #3
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    Aug 2003
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    Default I have been told

    that if the account is innactive the funds are 'absorbed' by the bank.

    Not confirmed this but more than one person has told me - seems starnge but hey !! Its the DR !!

    CT

  4. #4
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    Jan 2002
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    I did not hear personally what "You were Told" so can not argue with your interpretation but suspect the person MEANT that there is a charge of RD $50 per month deducted from inactive bank accounts & this (in time) would deplete the account if not made 'ACTIVE' again!!

    Vandoo,
    I suggest you have a word with your local Bank of Nova Scotia branch & request they contact the branch you are using down here. I KNOW they are not the SAME bank - I believe that by decree banks in the DR have to be owned by Dominican operations (even though they can & DO have majority shares owned by outside influences), but influence by your local branch would most likely carry a whole LOAD of weight!! Discuss it with your local manager & see what he/she can come up with! ~ Grahame

  5. #5
    Bronze
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    Jan 2002
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    Quote Originally Posted by vandoo
    Hi, I have not been going to the DR as often as I would like but still have a few thousand dollars (USD) in Scotiabank. I was wondering if the account can stay inactive for a very long time. I was once out of the country for a couple months and they deactivated it, only to reactivate it when I asked. This time I might not be able to get back down to the DR for a couple years. Will the money remain safe in Scotiabank (assuming there is not a crises) and will it contunie to earn interest?

    Thanks for you help!
    Hi Vandoo. I suggest you take the money out of Scotia Bank & invest it with Bank Russa in Puerto Plata at 10% or more. Tel. 586-9067. Bush Baby is correct at Scotia Bank depleting the account. Have a good one!! Canadian Bob.

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