Opening A Bank Account In The DR

daydream

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Sep 19, 2004
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Hi All

Can anyone tell me whether I will need my birth certificate to open up a bank account in the DR? I don't have my recidency yet so I am assuming that my passport will do?

Also - are the banks open for business between Christmas and New Year? If so, what hours?

Thanks
Daydream
 

Rick Snyder

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Nov 19, 2003
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I have dealt with two banks here and both only required me to have a passport to open an account. My present bank is Banco Popular. The banks are usually closed Christmas day and New Years day but are open on normal week days. Here in El Seybo the bank opens at 8:30 in the morning and closes at 4:00 in the afternoon.

Rick
 

daydream

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Sep 19, 2004
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Rick Snyder said:
I have dealt with two banks here and both only required me to have a passport to open an account. My present bank is Banco Popular. The banks are usually closed Christmas day and New Years day but are open on normal week days. Here in El Seybo the bank opens at 8:30 in the morning and closes at 4:00 in the afternoon.

Rick

Thank you for your help
 

rellosk

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Mar 18, 2002
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Rick Snyder said:
I have dealt with two banks here and both only required me to have a passport to open an account. My present bank is Banco Popular. The banks are usually closed Christmas day and New Years day but are open on normal week days.
Rick, since the holidays fall on a Sunday, are you sure the banks are not closed on the following Monday?
 

Rick Snyder

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Nov 19, 2003
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Sorry rellosk I didn't look at a calendar so you are right. I got the impression that the OP would be here for the entire holidays and I wanted to let them know that the banks don't close their doors for the entire holidays. Thanks

Rick
 

carina

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Mar 13, 2005
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In POP banks are open 8,30-3.00.

You need your passport to open a bank account.

Since sometime this year banks require,
- Passport
- 3 references
- Letter of good conduct from your orginial bank

Rebublic bank ( former Mercantil ) requires only passport for a peso account.

You must deposit a min. of 500 pesos at the time you open the account.

ATM and debitcard takes about 1 week to get from the opening of the account.
 

daydream

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Sep 19, 2004
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carina said:
In POP banks are open 8,30-3.00.

You need your passport to open a bank account.

Since sometime this year banks require,
- Passport
- 3 references
- Letter of good conduct from your orginial bank

Rebublic bank ( former Mercantil ) requires only passport for a peso account.

You must deposit a min. of 500 pesos at the time you open the account.

ATM and debitcard takes about 1 week to get from the opening of the account.

Thanks Carina

Do the references need to be from people in the DR?
 

Tor

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Jan 1, 2002
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Opened 1 dollar and 1 Peso account in Banco Santa Cruz this summer. Only needed Passport and one reference. Got the ATM card at once. The whole thing took less half an hour.
 

carina

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Mar 13, 2005
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daydream said:
Thanks Carina

Do the references need to be from people in the DR?

Yes they do. Either customers of the same bank, or citizens of DR.
( Popular and Progresso in Puerto Plata. As for Scotia and Leon in Puerto Plata, I do not know, have never had anything to do with them )

Republic Bank. Only your passport.
 

sunshine_79

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Scotia Bank

I just opened an account with Scotia Bank and all they asked me for was ID, not even a passport.

I had my references, etc, but was never asked for them.

I'm not sure why the guy helping me decided to be so lax but I'm glad he was because the whole process took all of 15 minutes.

Now let's just see if I get my card in a timely manner.
 

HOWMAR

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Jan 28, 2004
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rellosk said:
Rick, since the holidays fall on a Sunday, are you sure the banks are not closed on the following Monday?
The national holidays are on December 25 and Jan.1. These holidays do not get moved to the following Monday. All businesses, including government offices are going to be open on December 26 and Jan 2. Our employees are upset that not only do they not get an extra day off, they don't get paid for the holiday.
 
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sunshine_79

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HOWMAR said:
. Our employees are upset that not only do they not get an extra day off, they don't get paid for the holiday.

No offense, but your employees get upset about everything! ;)

I bet if you gave them a million dollars, they would bitch because it was in $20bills.
 

tarrantino

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Jan 12, 2006
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Opening a bank account in the DR

I noticed that you said that you opened a bank account at a Scotia Bank. Was that the one in Sosua and if not does any one know where the Scotia Bank in Sosua is? I was told that there is one ,but I didn't get very good directions>
 

arturo

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Mar 14, 2002
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No references necessary

I have accounts with most of the banks here (by now you are likely wondering if I am insane) and I've never been asked for anything beyond a photo ID. The only reference that appears to be necessary is a handful of cash.

Former clients of Baninter can tell you that references were, in many cases, necessary to make withdrawals toward the end of that debacle :)


sunshine_79 said:
I just opened an account with Scotia Bank and all they asked me for was ID, not even a passport.

I had my references, etc, but was never asked for them.

I'm not sure why the guy helping me decided to be so lax but I'm glad he was because the whole process took all of 15 minutes.

Now let's just see if I get my card in a timely manner.
 

stelen123

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Jan 13, 2006
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Hello all,
we are planning a move to DR this year, when you open a bank account in DR and get a ATM card, can you use this card in other countries also?
Thanks all
Stefan
 

Larry

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Mar 22, 2002
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arturo said:
I have accounts with most of the banks here (by now you are likely wondering if I am insane) and I've never been asked for anything beyond a photo ID. The only reference that appears to be necessary is a handful of cash.

Former clients of Baninter can tell you that references were, in many cases, necessary to make withdrawals toward the end of that debacle :)
Arturo,

Banco Popular now requires a reference letter from an overseas bank if you are without a cedula. I am positive about this as I recently opened an account there. I got a letter from a US account stating length of time account has been opened, average daily balance and current balance. That was sufficient. That along my passport was what they wanted.

Larry
 

sunshine_79

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Larry said:
Arturo,

Banco Popular now requires a reference letter from an overseas bank if you are without a cedula. I am positive about this as I recently opened an account there. I got a letter from a US account stating length of time account has been opened, average daily balance and current balance. That was sufficient. That along my passport was what they wanted.



Larry

Where did you open your account? In SD?

Because I've not been too impressed with the customer service at Republic Bank, I opened up a dollar account at the Popular branch on calle Jose del Carmen, near Parque Central, here in POP the other day. All they cared about seeing was my ID.

I wonder why different branches within the same bank seem to have such varying policies?
 

Larry

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Mar 22, 2002
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sunshine_79 said:
Where did you open your account? In SD?

Because I've not been too impressed with the customer service at Republic Bank, I opened up a dollar account at the Popular branch on calle Jose del Carmen, near Parque Central, here in POP the other day. All they cared about seeing was my ID.

I wonder why different branches within the same bank seem to have such varying policies?

Yes it was in SD. Thats what they wanted.

Larry
 

carina

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Mar 13, 2005
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I have used Republic Bank for some time now, and never had one single problem with them, not for peso accounts, us accounts or cc.

It is very common here, with different branches having different policies.
Someone told me the other day she went to open an account at Popular in Torre Alta, and they asked for all that Larry stated. Then she went, with her papers ready, to Popular by Parque Central, and they asked for nothing but an identification. Hmm...
 

HOWMAR

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Jan 28, 2004
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Put youself in the place of the two bank employees. On one hand you have Sunnie opening an account. On the other you have Larry. Using their judgement, which one do you think will require more documentation. ;)