Results 1 to 6 of 6
  1. #1
    Regular
    Join Date
    May 2006
    Posts
    17
    Post Thanks / Like

    Question checking account

    need to open a checking account in the DR as I have a condo unit there and will make life easier with the condo fees. I've been told I need certain paper work from the US.Does anyone know what that might be as I'll be in the DR in a couple of weeks. Any info will be appreciated thanks

  2. #2
    Moderator
    Join Date
    Jan 2002
    Posts
    18,102
    Post Thanks / Like

    Default

    Passport, picture ID. A letter from you bank might be nice..

    Most banks here will tak a long time to process offshore checks. As long as 30 working days or more! So, you might want to open the account with cash drawn from your debit card....

    HB

  3. #3
    Regular
    Join Date
    Jun 2005
    Posts
    85
    Post Thanks / Like

    Default

    Also check for minimum account balance requirements to avoid monthly service charges

  4. #4
    Silver
    Join Date
    Aug 2005
    Posts
    3,293
    Post Thanks / Like

    Default

    The only document required from the US besides your passport is a letter from your bank, preferable addressed to the specific bank here you will be banking with, stating how long you have been a customer and that your account is in good standing. Scotia BAnk, for some reason, also requests that the bank includes in the letter, your profession in the states... but it's not necessary. Definitely check on the minimum balance and the number of checks allowed per month, and whether they offer bill pay and other online services. It varies from bank to bank. Other than that, it's pretty straight-forward. Just be prepared for pretty much any transaction, even a simple deposit, taking at least 15 minutes at the teller window!

  5. #5
    On Vaction without a return ticket!
    Join Date
    Mar 2006
    Posts
    338
    Post Thanks / Like

    Default

    I just opened two checking accounts in the DR last week.

    First I went to Scotiabank and since I didn't have the 'original' letter from my bank they wouldn't open an account for me. Make sure that if you go to Scotia that the letter you have from your bank is the original with a stamp. For some reason the Dominican's love things stamped.

    Since I had bought a property from Century 21, the lawyer there was able to act as a reference for me at Banco Leon. Very nice people and they give you your debit cards right there while you're opening the account.

    The DR is a cash kind of place so don't count on using checks. If you do there're fees associated to these checks and it seems to be a real pain in the AX.

    To open the account you're probably best to carry travelers checks.

    Hope this helps.

    Jack

  6. #6
    Regular
    Join Date
    May 2006
    Posts
    17
    Post Thanks / Like

    Talking checking account

    thanks to all who responded and gave the helpful info on opening a checking account. thanks again . will be in the DR for two weeks beginning 08/02/06 in the Cabarete area and hopefully can buy you a drink.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •