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Thread: Banking

  1. #1
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    Default Banking

    Hi,
    I was just wondering if there are any north american banks in the DR. Like TD,CIBC,Scotia, or anything else that would be easy to setup.

  2. #2
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    city bank

    Greetings

    johan

  3. #3
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    Scotia Bank is all over the country. They are a seperate entity than Scotia Bank in Ca. .

    tambo'

  4. #4
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    Citibank no longer does retail banking in the DR.

    There are dozens (maybe hundreds) of Scotia Bank and Banco Popular offices here, but as Tambo said, they are both seperate entities from their US counterparts...

  5. #5
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    Seperate as they may be, they are still controlled by Scotiabank and they helped Scotiabank to a record quarter as of the last report. Their Caribbean assets and banking are paying off huge (they are also in Haiti) and many other nations in the Caribbean basin area, more recently in Costa Rica.
    Seperate as they may be they are still the same. Same logo, same bank, same huge profits.....the only difference is you can't go complaining to Canada about them if you don't like the service down here. Apart from that they are exactly the same bank. They are not really different at all.

  6. #6
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    Since you seem to knowledgeable of Scotiabank and their balance sheet, I have a question for you. If you open an account @ Scotiabank in Santo Domingo, are the assets insured by CDIC in the event of a bank failure?

    tambo'

    What's Covered, What's Not?

  7. #7
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    That my friend I have no idea about. However, the information I have is public knowledge, being that I heard it on the radio in Canada when I was there.
    : p.

  8. #8
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    No, you're not covered. Scotia Bank in the DR runs under local laws and rules, so forget about any insurance coverage

    If you looking for a USA bank that's FDIC insured and has an office here in the DR, then you need to speak to BPD (http://bpdbank.com). They have an office in Santo Domingo at the Banco Popular building on JFK.

  9. #9
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    I heard that if you have an ATM card from Scotia Bank in Canada and use the ATM at the Scotia Bank in Puerto Plata that you don't get the service charges. Does anyone know this to be true first hand?

  10. #10
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    Have used Canadian-issued Scotiabank ATM card at Scotiabank ATM's in Sosua, Cabarete, PP and Santiago.....no service charges.

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