opening banc account staying with tourist visa in DR?

Lonewolfnl2002

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Aug 14, 2005
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Hello board,

First of all i like to say this board is full of very good information!!:)

I wonder if it is possible to open a normal banc account for a private person who just stays in the DR with a turist visa. I am Dutch citizen and have intrest in settling down in the DR later on.
If above is possible....WHAT papers do I need to open the banc account??
Is there also a banc secret in the DR like there is fe in Switserland,Luxemburg,Panama or in the Bahamas?
And what bancs are trustworthy/good ???

Sorry for my English! Hope you'll understand.

Thanks in advance.

regards and saludos,

Dutchie.
 

Robert

Stay Frosty!
Jan 2, 1999
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dr1.com
All you need is your passport.

Banco Leon
Banco Popular
Banreservas
Republic Bank

These are all ok and you will have no problem opening RD$ accounts.
 

carina

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Mar 13, 2005
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I just helped a friend to open a bank account some weeks ago.
You need, to open an account in RDS or USD, now at all banks:

1. Letter of recommendation from your own bank
2. Copy of your passport
3. 3 recommendations from Dominican citizens, name & phone number


Addition: The above is if you don?t have a cedula
 

rellosk

Silver
Mar 18, 2002
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jalene0214 said:
like a chase or a city bank, any banks that you find here there?
There are Citibank branches in the DR, but I've been told that they don't connect to the branches in the US. Note that my knowledge is hearsay. Maybe someone can post some firsthand experiences.
 

johne

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Jun 28, 2003
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I didn't need these things

carina said:
I just helped a friend to open a bank account some weeks ago.
You need, to open an account in RDS or USD, now at all banks:

1. Letter of recommendation from your own bank
2. Copy of your passport
3. 3 recommendations from Dominican citizens, name & phone number


Addition: The above is if you don?t have a cedula
Carina--All I needed was my passport to open up a peso account at Banco Popular (about 7 or 8 weeks ago).
JOHN

P.S. of course it didn't hurt that I am handsome, smooth and most people don't understand my Spanish anyway.
 
Last edited:

andrea9k

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Apr 17, 2004
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johne said:
Carina--All I needed was my passport to open up a peso account at Banco Popular (about 7 or 8 weeks ago).
JOHN

P.S. of course it didn't hurt that I am handsome, smooth and most people don't understand my Spanish anyway.

New policies in the banco Popular ruling since July 15th. I couldnt believe it and called them just to check. They asked for 3,000 pesos minimum (former requirement was 500 pesos just as all the other banks) plus letter of employer stating salary plus letter of reputable dominican or legal resident. They never asked if i had a cedula or not.

I find it kind of excessive, it is a pesos savings account not a loan, a checking account or credit card!!

I also opened my accounts with just my passport a lil money and a big smile, 7 years back. Now, I see people being turned because they dont have all the new requirements at the time.

Jess
 

HOWMAR

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Jan 28, 2004
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Republic Bank only requires a passport to open a peso or dollar account. This is current info as on last week when I was there last. In fact you can open an account online and just bring in your passport and money. The paperwork is ready and waiting for you.
 

hugoke01

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Dec 31, 2004
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The only bank I could easily open a bank account with -only with my passport -was with "El Banco del Progreso" .That was three years ago . Last year a tried to open another bankaccount with the banco popular and they were asking a letter of recommendation of another bank not accepting the banco del progreso and other requirements as described hereunder.....
Have been happy with the Banco del Progreso especialmente as I can consult my accounts via internet
carina said:
I just helped a friend to open a bank account some weeks ago.
You need, to open an account in RDS or USD, now at all banks:

1. Letter of recommendation from your own bank
2. Copy of your passport
3. 3 recommendations from Dominican citizens, name & phone number


Addition: The above is if you don?t have a cedula
 

carina

Silver
Mar 13, 2005
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johne said:
Carina--All I needed was my passport to open up a peso account at Banco Popular (about 7 or 8 weeks ago).
JOHN

P.S. of course it didn't hurt that I am handsome, smooth and most people don't understand my Spanish anyway.

What I wrote is what they asked for at both Popular & Progresso in POP just some time ago, and referred to new regulations.

Jess, I agree with you. It?s a bankaccount where you loan them your money, you?re not loaning money!!!
 

HOWMAR

Silver
Jan 28, 2004
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I can understand the frustration all the honest posters have about the increased need for identification required by the banks. You have to understand their reluctance to become associated with money launderers. As most of the banks have direct or indirect affiliation with foreign banks, they don't want to be associated with a scandal. (For example, allowing a colonel deposit millions of dollars without a single question.)
 

heldengebroed

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Mar 9, 2005
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rellosk said:
There are Citibank branches in the DR, but I've been told that they don't connect to the branches in the US. Note that my knowledge is hearsay. Maybe someone can post some firsthand experiences.

3 years ago we tried to open an account with City Bank in Santiago

They asked proof that we had 3 other accounts with other banks Credit cards didn't count. It had to be lettres. According to them it was a group ruling, but i had just some weeks befor opended an account with citybank belgium wth no requirements and produced my citybank card and still they refused. Crazy bank


Greetings


Johan
 

Tor

Bronze
Jan 1, 2002
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Robert said:
All you need is your passport.

Banco Leon
Banco Popular
Banreservas
Republic Bank

These are all ok and you will have no problem opening RD$ accounts.

I have my accounts in Banco Santa Cruz, isn't this bank okay ?
 

stallion

Mr. Main Event
May 28, 2004
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carina said:
I just helped a friend to open a bank account some weeks ago.
You need, to open an account in RDS or USD, now at all banks:

1. Letter of recommendation from your own bank
2. Copy of your passport
3. 3 recommendations from Dominican citizens, name & phone number


Addition: The above is if you don?t have a cedula

Those are too much requirements. I guess it all depends on the Istutution. I opened a account at BHD and all they asked me for was my Passport. And I do not hold a Cedula.
 

rellosk

Silver
Mar 18, 2002
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stallion said:
Those are too much requirements. I guess it all depends on the Istutution. I opened a account at BHD and all they asked me for was my Passport. And I do not hold a Cedula.
Was this recently?
 

carina

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Mar 13, 2005
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I went with my friend just 10-12 days ago to help. First we went to Popular, and when they said as stated before, in my previous post, we went up on Beller to Progresso.
They asked for exactly the same, both offices.
The purpose was to open a simple RDS account with an ATM card.
A copy of passport, 3 Dominican refs was no problem, but she had to wait to get a fax with a recommendation from her bank in her native country.
Last week we went again, with all papers, and everything was done very fast.
She had to deposit 500 pesos on the account directly.
This was Banco Popular in Puerto Plata.

FYI I called the same day to Banco Popular in Torre Alta and asked, just to make sure, and they stated the same requirements there on phone.

Out of subject, but for info, Orange have for examples the same rules, asking for 3 recommendations of people living here, having cedula or citizenship, if you want a plan with them.
Verizon is fine with 1 reference, if no cedula.
This is another thing, as you as a client pay them, and not deposit your money with them. Procedure same though more or less.