- Thread starter RAMSES13
- Start date
Opening A Us Dollar Account In D.r.
BanReservas (or banco de reservas) is the easiest to deal with. i have a USD account with them and all that was needed to open it was my passport. Banco Popular wanted million other things. the way the process works is simple, you tell them you want a USD account, they take a copy of your passport and send it to Santo Domingo to investigate if you have any criminal record, i was told they also contact your embassy to check your record, i was told the reason was to fight money-laundering. the whole process takes about two weeks, they'll tell you they'll call you back but you have to follow up yourself, if everything is OK they open the account and you're in business.
We opened an account with only a passport at Banco Leon in Sosua. The "two week" rule of thumb turned out to be about 45 days - even with checking in at the bank each week. 
They do have a decent online banking system so you can check accounts online and it's the same procedure whether you open an account in USD or pesos. No euro accounts yet - though they say they're working on that option for the "future".
They do have a decent online banking system so you can check accounts online and it's the same procedure whether you open an account in USD or pesos. No euro accounts yet - though they say they're working on that option for the "future".Euro account
Banco Popular in Cotu?, passport and a Euro 500 minimum deposit opens your Euro account, that's it.
We opened an account with only a passport at Banco Leon in Sosua. The "two week" rule of thumb turned out to be about 45 days - even with checking in at the bank each week.
Banco Popular in Cotu?, passport and a Euro 500 minimum deposit opens your Euro account, that's it.
Yes and checks take six weeks to clear. You can have funds wired with fees on both ends. Fees, get used to those.