bank account Fraud,Banco del Progresso

zmth

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May 30, 2006
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Opened an account with Banco del Progresso Feb. 2001 and everything was ok till about year or two ago. NOW they have discontinued my account.
In Spanish they reply with the english equivalent of " i am not a member of the bank, do not have an account !!! which is
"Usuario no es cliente del banco."By now my account balance should have been larger than ever which including all interest deposits more
than $18,000. I last made a withdrawel there Jan 2004. They ignore all requests. Even the same person who emailed me in 2001 giving my balance now
ignores. It is not a matter of dormant account as have periodic deposits.
I give detailed as anyone could of all personal info. etc. and either they ignore or the reply is "Usuario no es cliente del banco." Anyone know
of government agency to handle such fraud? There are none in USA as already tried- they only handle us affiliated banks.
Is there any agency in Dom. rep that can help and what is their email?
 

Lambada

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Mar 4, 2004
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First, don't panic. It isn't a fraud. :) Exactly the same happened to me a while back. Only I don't keep $18,000 in a DR bank - only $500 & I was prepared to let it go. Didn't have to though, after a personal visit. I take it the responses you're getting are via online banking, because I got the same. I think you'll find it is a dormant account. Periodic deposits of interest by the bank itself are insufficient to prevent the account from going dormant. Yes........I know, but it's the way things are. You have to make a personal visit. Easy for me, I live here. If you don't, well maybe sort it on your next visit? I don't know if they would take someone doing it on your behalf or not. All I did was to pop in, make a joke about Pedro Castillo's ski lodge being up for sale in Colorado & voila, I got some attention. Then I reactivated the account. As soon as I got home I found I could get into online banking again. None of the interest deposits had been lost (piffling amounts though they were on US$500), but they don't enter them until you reactivate. And it doesn't cost anything to reactivate, just some time.
I'm told you have posted this elsewhere in other Forums. I don't have time to copy my response to wherever else you've put it, but maybe some other kind soul could alert you to this one? Just didn't want you panicking unnecessarily. Nor starting a run on a bank where I believe the new directors are trying to do it right by putting their own money in, which they did a while back.
 

zmth

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May 30, 2006
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per lambada about bank acct. banco del progresso

I can assure you it is not dormant account. The interest payments are NOT from the bank but from a local commercial paper accounts thru financeiras or something like that for $600/month. Also even so a bank account should not become dormant that soon . My last personal visit there was just a little over 2 years ago. Dormant accounts are supposed to be atleast 5 years. Have an important question for you. Was your bank account - the one you quoted in your reply with BAnco Del Progresso or a different bank? thanks
 

Lambada

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zmth said:
Have an important question for you. Was your bank account - the one you quoted in your reply with BAnco Del Progresso or a different bank? thanks

Have an important answer for you. ;) Yes my account is with Progreso. That's the only reason I answered your question. I had EXACTLY the same experience, same messages on online banking etc as you did with the same bank. Accounts go dormant in 6 months with no deposit or withdrawal. Whoever told you 5 years? Incorrect. And how do you know it isn't dormant if you can't access it? Did your financieros put the $600 in each month? Have you proof? I'd start with them, if I were you. Once you know for sure they deposited your funds and you have seen the stamped deposit slip, THEN would be the time to begin thinking of blaming the bank. But if the account IS inactive the financieros won't be able to deposit UNTIL it is reactivated.
 
Mar 21, 2002
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Lambada said:
Once you know for sure they deposited your funds and you have seen the stamped deposit slip, .

What if they didn't deposit the funds?, then what? Who are these financieros he talks about? This sounds quite scary.
 

Lambada

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Onions&carrots said:
What if they didn't deposit the funds?, then what? Who are these financieros he talks about? This sounds quite scary.

Well if they didn't I guess he/she would have to go after the financieros, not the bank. But if it were you, O&C, wouldn't you have been checking that the deposits were made from the first month onwards? Not waiting 2 years or whatever the length of time is? Maybe the OP had a protracted stay in hospital or was posted overseas in the military or otherwise prevented from following this through.................? ;)
 

british bulldog

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Jan 21, 2006
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All the banks in the DR do this ,if you do not withdraw funds within a certain time ,i think is three to six months,they dormant that account,even if deposits are entering that account on a monthly basis. I was told it was a way of detering laundering money and just leaving it.You also have to reactivate it in person!
 

HOWMAR

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Jan 28, 2004
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Are we all talking about the same thing here. The OP says his original deposit of 18,000 and monthly interest of 600 was in "$". I find it hard to believe that if it were is US$ he would have let it go for so long without checking his balance. Are we sure he isn't talking about RD$ (pesos)?
 
Sep 20, 2003
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I'm a little confused about this situation.

If an account goes "dormant", does that mean the 18,000$ is gone? Or does that mean that he has to fly out to the DR in person and reopen the account? I get the impression the money has been stolen or disappeared.

If the OP reactivates the account will he then have access to his money?
 

british bulldog

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Jan 21, 2006
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It does not matter if its usd/rd peso/euro accounts,the money is safe and interest is still earned at what rate ,the banks conditions are for that account,even when dormant. Only when the op reactivates the account (in person)he gets access to his or hers money in full.I speak with total experience of this: on more acassions i care too remember
 

BushBaby

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You put it in a nutshell British Bulldog. If the OP wants to get it sorted he should get down here to the DR OR arrange with the bank (if they will allow) for his lawyer (armed with suitable power of attorney) to go in & get all the information needed. I offered to help (as far as possible through contacts & in an unofficial way) to find out what info I could for him, but have received no response as yet. ~ Grahame.
 

british bulldog

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The reason the banks do this; is to make sure the person who opened the account,is the real account holder,and not an imposter,again not many people using a laundered money account.He will definetly need his passport plus other ID to varify his ID, the bank holds on him.
 

zmth

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May 30, 2006
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it is us $

HOWMAR said:
Are we all talking about the same thing here. The OP says his original deposit of 18,000 and monthly interest of 600 was in "$". I find it hard to believe that if it were is US$ he would have let it go for so long without checking his balance. Are we sure he isn't talking about RD$ (pesos)?

It is us $ and the financerias is difficult to get an answer. Anyway the bank is at fault no matter what for not answering official correspondance. And nobody should ever have to go there in person !! Any bank that requires that should not have a license anymore.
 

zmth

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some info for you

BushBaby said:
You put it in a nutshell British Bulldog. If the OP wants to get it sorted he should get down here to the DR OR arrange with the bank (if they will allow) for his lawyer (armed with suitable power of attorney) to go in & get all the information needed. I offered to help (as far as possible through contacts & in an unofficial way) to find out what info I could for him, but have received no response as yet. ~ Grahame.

Comm.Paper thru agent 'Transacciones Financieras S.A.' (Puesto de Bolsa) BVRD,PB-021
.address 69 Gustavo Meja Ricart 3rd.floor Edificio Datocentro Email:tfinanciera@codetel.net.do
no website but fax (809)7322934(on card)but 5494476on aper tels;2270973,
4735411(or 5401?written on card) or 5622621ClaudiaMesina(home?)
I now have $60,000 total commercial paper brokered thru them at 12% is about $600 per month interest - it would be exact if they did it exactly per month but they go by (atleast have been) exact number of days in the month
divided by 365 or 365.25 i understand atleast that's about what it has always come out to. thanks for your offer to help, i must have missed it elsewhere before.
 

rellosk

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Mar 18, 2002
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zmth said:
...thanks for your offer to help, i must have missed it elsewhere before.
He probably sent you a Private message, check you box by clicking "Private Messages" in the upper right-hand corner.
 

BushBaby

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zmth.
Would it not be more sensible to PM or e-mail me (via the DR1 facility) rather than put this sort of information on an open board? Please let me know (via PM or e-mail) whether you have checked with your Financiera company that they HAVE sent the money for deposit into your account? If so, can they send you copies of receipt etc? I don't want to start 'discussing firmly' with the bank only to find your financiera is retaining & COMPOUNDING your monthly interest!! You say he is difficult to get an answer from - is that because you can not get a reply from the company or that you do not understand the reply (presumably in Spanish)?

Banks work differently down here to the US of A & (rightly or wrongly) the laws of the DR apply here, not those of the US of A. What you term as "at fault" or unacceptable in the US, may well be standard operating proceedures down here! Remember the BanInter collapse of 3 years ago? Rules have been put in to try & strengthen the protection of clients money - for the time being (& until Bank Tellers etc get more professional & honest) this is something we all have to put up with.

PM or e-mail me with your full name (NOT bank account number as I don't wish to get into your account & you need some protection!!), date the account was opened & last VISIT you made there, & I will see what I can do to assist. I will send you what information I have been able to find out BY PM, in about 7 days from receipt of the details above. ~ Grahame.
 

BushBaby

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rellosk said:
He probably sent you a Private message, check you box by clicking "Private Messages" in the upper right-hand corner.
Nope, I did it in ONE of the threads he is running concurrently here. I try to avoid contacting people direct by PM unless I get their agreement to do so beforehand! ~ Grahame.
Here it is from the other post

Please, before you go bad mouthing any bank down here (especially Banco del Progresso who are TRYING to be professional right now), check fully that your account has been receiving the interest you were expecting. I have a contact or two who might be able to assist in finding the truth out for you so you can e-mail or PM me if you would like them to look into it for you. Tell me who the financera is as well in the PM, I might know them & will be able to check if your interest has been made by them or added directly to your account with THEM for compounding (which is the norm here unless you clearly specify otherwise!).
 
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Chris

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Oct 21, 2002
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I'm astounded as to what people would put on the internet to a bunch of strangers, about their business.

zmth, It would be much better for you to discuss these details in private communication and not out here for the world (good ones, and bad ones) to see.
 

vince1956

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May 24, 2006
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Chris said:
I'm astounded as to what people would put on the internet to a bunch of strangers, about their business.

zmth, It would be much better for you to discuss these details in private communication and not out here for the world (good ones, and bad ones) to see.
:bunny:CHRIS maybe the bank has bought some vespas or Ostriches with the cash:bunny: :surprised :cool: what you think FROG ha ha