Canadians and Scotiabank...

ELSIE

New member
Nov 3, 2003
5
0
0
Hi !

I went to Scotiabank yesterday and I was told that I cannot open
an account there BECAUSE IM CANADIAN !!!!!

Does anybody know what this is all about??



Thank you
 

juanita

Bronze
Apr 22, 2004
1,893
115
0
57
ahhahahah!!! Not sure about opening, but I know that they won't pay you interest on your savings! I was told that they signed an agreement with the Canadian Government that they would not pay interest to Canadians in the Dominican Republic. Take your money to Banco Popular or some other place! What a joke ey! Been there, done that! :ermm:
 

ELSIE

New member
Nov 3, 2003
5
0
0
Thank Juanita but WHY OH WHY !!!!!!!!

The lady said there are "RESTRICTIONS" about Canadians...

Not paying interests is one thing... deny an account??

I was soooo ****ed

I wanna find out why they have those 'restrictions' ...

Deny accounts for Canadians???? This bank is OURS !!!!!!!!!!!
 

MommC

On Vacation!
Mar 2, 2002
4,056
7
0
dr1.com
Damn Canadian Gov't!!

:cry: Does this mean I'm not going to get interest on my account!

As anyone who reads the board regularly knows I"m Canadian and I've had an account in Scotiabank since 1991!!

Well ok....we closed that one some years back but we did open a new account in April of this year at the Scotiabank branch in San Pedro before we came home for the summer.
Juanita....do you have the source for this info????

Thanks...
 

MommC

On Vacation!
Mar 2, 2002
4,056
7
0
dr1.com
Alsofor Elsie....while the name is Scotiabank and has ties to ours it operates as a seperate entity so no.....it's not OURS!
 

juanita

Bronze
Apr 22, 2004
1,893
115
0
57
Ok! I just went down to the bank to clarify this. So here it is:

For a Canadian to open an account, you need a letter from 2 Dominicans that know you, $5000 pesos and you can only open a chequing account (cuenta corriente). My account was opened because the company I work for does their direct payments there. Jeeezzz!
 

baileyboy

New member
Jun 27, 2004
392
2
0
I work for Scotiabank in Cda

ELSIE said:
Ours or not ... why no Canadians..

no banks here ever told me that.

I work for Scotiabank in Cda, and althought Scotiabank is written on the door, in the DR, it is not the same. If I want to send money within Scotiabank from DR to Cda, or vice versa, I have to to a wire transfer, they do not have access to Cda Scotiabank accounts, nor do we have access to DR Scotiabank accounts.

It is owned by Scotiabank, but the banking reglations are different from CDA then they are in the DR, and therefore it is only the name that we share that is the same.

As for opening accounts, I belive what Juanita wrote about knowing 2 Dominincans is correct as is having the 5000RD. I know in Cda, that you can not open a bank account unless you have a CDN address. Again it comes down to different banking regulations.

Lisa
 

carina

Silver
Mar 13, 2005
2,691
4
0
At the moment, to my knowlegde, the only bank not demanding 2-3 references ( DR citizens ), letter of recommendation from your home bank, and copy of passport here in DR is Republic Bank.
There you need a copy of your passport only, and can open savings, check or US account with/without VISA, ATM card etc as you chose.
The above if you do not have a residency here.
You need to have an address though.
 

Gringo

Bronze
Jan 1, 2002
1,314
58
0
I wonder if it also works in reverse

I'm also Canadian maybe if I take out a loan they won't charge me any interest.........
 

Steve Costa Azul

I love Rocky's Ribs!
Jul 15, 2006
405
0
36
Why not just open an account at Banco Popular then? More branches.
Is it true that they need a letter from our Canadian banks and show our passports to get this done? Also, I hear that banks are paying 16% on 30 month cd deposits and depositing it directly into your account monthly, is this accurate?
I would like to hear from any fellow Canadians that have an account in the DR that is interest yielding. Is it better off having an account in US or pesos? These sort of things,
Thanks,
steve
 

A.Hidalgo

Silver
Apr 28, 2006
3,268
98
0
Why not just open an account at Banco Popular then? More branches.
Is it true that they need a letter from our Canadian banks and show our passports to get this done? Also, I hear that banks are paying 16% on 30 month cd deposits and depositing it directly into your account monthly, is this accurate?
I would like to hear from any fellow Canadians that have an account in the DR that is interest yielding. Is it better off having an account in US or pesos? These sort of things,
Thanks,
steve


My friend Steve you are responding to a post thats almost a year old. I have suggested the dates on post should be a little bigger.:cheeky:
 

Steve Costa Azul

I love Rocky's Ribs!
Jul 15, 2006
405
0
36
Old Post

I knew it was old but I am new to this and I was getting frustrated trying to post a new post. Anyway, it still doesn't change the fact that I would like to hear back from anybody that can post helpfull suggestions regarding Canadians banking in the DR.
Steve