Dollars account in Sosua Bank

zoomzx11

Gold
Jan 21, 2006
8,367
842
113
Does anyone know banks currently paying decent interest on dollar accounts. I'm in Scotia Bank and they are paying next to nothing, interested in moving. Thanks for any help.
 

mike l

Silver
Sep 4, 2007
3,157
466
0
Does anyone know banks currently paying decent interest on dollar accounts. I'm in Scotia Bank and they are paying next to nothing, interested in moving. Thanks for any help.

Banco Sata Cruz pays 1 % on a dollar account and 3% if you put $ in a CD
 

Eddy

Silver
Jan 1, 2002
3,668
219
0
Does anyone know banks currently paying decent interest on dollar accounts. I'm in Scotia Bank and they are paying next to nothing, interested in moving. Thanks for any help.
About the same or less than on the main land. Most people change it to pesos and hope the interest will more than compensate for any devaluation of the peso. Which is probably the right decision.
 

J D Sauser

Silver
Nov 20, 2004
2,940
390
83
www.hispanosuizainvest.com
Banco Popular next to nada as well.
Very surprising... when considering that you would entrust hard currency to banks in an underdeveloped country with a shaky banking history.

A little example and history: In 1995 One could get up to 13% on USD savings in Ecuadorian banks... a lot of people who had money there made substantial amounts of money on these deposits... until President Jamil Mahuad decided to "dolarize" the economy (the local "Sucres" was replaced with the USD)... Well, what USD's do you think they used to do that with? :D Yep! All USD accounts in Ecuador got frozen and apparently used up to pay for the new currency. So many lost it ALL.
I am not saying this is in anyway directly related to the DR, besides going to show, that if you deposit your hard currency here, one should expect to get a solid (potential) return to make good for the risk(s) involved with banking in countries like these.


... J-D.
 

divintys

New member
Sep 25, 2008
6
0
0
I have opened an account recently with Banco Santa Cruz and their interest rate on the us dollar account wasn't bad, go and have a chat with the manager there Carlos, a very nice chap.
 

Fernandez

Bronze
Jan 4, 2002
572
38
48
If you are willing to take Dominican dollar risk, perhaps you would consider the Dominican Government US Dollar Eurobonds that are yielding around 8.5% on an annual basis. The coupons are paid semi-annually and can be purchased through an tier one commercial bank that has Global Custody services. The DR Bank's wont know what you talking about-
good luck.
 

Danny W

Bronze
Mar 1, 2003
999
12
0
If you are willing to take Dominican dollar risk, perhaps you would consider the Dominican Government US Dollar Eurobonds that are yielding around 8.5% on an annual basis. The coupons are paid semi-annually and can be purchased through an tier one commercial bank that has Global Custody services. The DR Bank's wont know what you talking about-
good luck.

What are Dominican Government US Dollar Eurobonds?