Disappointed with banco popular

MScott09

New member
Aug 6, 2009
2
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Cambridge
Inconsiderable: Banco Popular

So many banks in the DR, I couldn't make up my mind who to do banking with when I first came here about a year ago. I should have done a thorough research because in the DR every peso you make is hard earned and it does not go a last long enough until your next paycheck. I know most Dominicans work hard for the little money they earn on a monthly basis and this is why I want all of us to communicate and inform one another of Banks who can be rely on and the ones that can not based on real experiences whether good or bad. If too many of us are having or have had too many bad experiences with certain Banks then it is time to call it quits and go somewhere else.

I started doing banking with Banco popular because they have been around for a long time now. So you would assume they must have a good reputation in order to be in business for so long or are really good at what they do.

About over a year ago, my wife was trying to use an ATM machine for Banco Popular in Cabarete, Puerto Plata. There was a couple standing next to her who suggested she use the one they were just using because for some odd reason the one she was using was not working properly. My wife thinking this couple were being nice and all went to use the other ATM machine they were using. During this time (as I recall her telling me what happened) the couple as she noticed but did not think much of it, were standing right behind her observing everything she did. If my wife would of mentioned this to me as soon as she saw me that day I would of had cancel my card, but unfortunately it was too late. The next day I noticed my balance was way off, talked to my wife about it and eventually put two and two together.
After getting a police report as requested by the Bank in order for them to do any investigation about this matter and then giving them the report as requested it took about 35 days in order for them to refund my money back into my account. It was explained to me, not directly from the Bank of course, that certain employees have what you call an authorization card by the Bank which allows you to open any ATM card account as long as they know the person's code. Apparently this is what the couple had obtained somehow and used it.

A year later and I continued to do banking with Banco popular until the following happened to me; I was trying to withdrawal at one of banco Popular ATM machine outside one of our local grocery market Jose Luis in Puerto Plata. The ATM machine slowly took my card and my card somehow got stuck right inside slide in, without being fully entered, I could even see it.
After trying everything I could to get it out I finally gave up and called for assistance a number sealed and placed below the slider where you place your card. A gentleman answered with the banco popular greeting and tried to assist me in getting the card out by pressing enter and cancel at the same time I was dialing my code, said this was supposed to get the machine to retrieve my card back to me. It did not work, and eventually I got him to cancel the card for me. I should of double checked if my card was indeed canceled but unfortunately I forgot to follow up on it, thinking I could trust the person on the other line who was supposedly working for banco popular.

When checking my bank statement a few days later I realized once again, my balance was off. I called the Bank spoke to a female, who explained to me that my card is still active and that a withdrawal was made supposedly on the day I canceled it. I went straight to the bank explained everything in details, who I spoke to and how there was a number I called. I do consider this inconvenience to be at least 50% my fault since I should have followed up on it and noted down the number I called, but once again I thought I could trust my bank.

Now, what got me upset about this whole matter was the lack of effort Banco Popular put in in order to investigate it. There was no effort at all. The lady who took the report called me saying that after some "investigation" the Bank consider it to be my fault for the withdrawal for not canceling the card adequately and therefore the only way for this withdrawal to have taken place would have to be through me. This was understood to me, however, I questioned the lady about the number placed on the ATM machine if someone went there to take it off and investigate it to find out who assisted me, she said no one went to investigate that it is something usually done by their Santo Domingo head office. "Okay..then so why didn't you do this before calling me and assuming I did the withdrawal?" I said. As I was telling her it makes no sense to me how you can say I did the withdrawal yet you can not give me the time I did it or even investigate to prove to me that I did it. I was totally fed up with this lack of effort and unprofessional assistance so I told her to forget about it, I will go get the number myself and give it to her to investigate.
By the time I got off work and past by the ATM machine it was too late, either the people responsible for the scam took the number off the machine or the bank sent someone to do it. I was thinking about going to the police get a report written about what happened and obligate the bank to prove and show it was I who did the withdrawal since they are accusing me of
doing so. But then why bother? I will just go to the bank and cancel my account and go somewhere else. I did not cancel my account solely because of my previous two bad inconveniences, it was a result of similar issues happening to other people as well who use to do banking with Banco Popular and have also chosen to go elsewhere to do their banking since something shady is going on with the employees at Banco Popular. Now I do banking with BanReserva and Progresso, lets see how it goes. Maybe you guys will tell me some good reports about them.


 
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The Virginian

Bronze
Mar 16, 2007
929
8
18
Sorry to hear of your trouble with Banco Popular. My wife and I have been here (POP) for 3 years and have had no issues with the local bank. Knock on wood. We only use the ATM machines at the bank during banking hours. In case we have any issues we can get them addressed right away. On a monthly basis we go into the bank and see the person assigned to us and update our account information. Perhaps we've just been lucky. Good luck with your new bank.
 

waytogo

Moderator - North Coast Forum
Apr 3, 2009
6,407
580
113
Santiago DR
On July 13, my son in Phoenix Arizona sent me 4000 U.S. Dollars in pesos. Previously ALWAYS in dollars. I have 2 accounts with Banco Popular, one in dollars and one in pesos. He thought he would do me a favor and send the money this month in pesos, without informing me of this. He sent the pesos (at the great rate of 32 to 1) and sent the pesos to the dollar account number. I have been to Banco Popular 2 times, talked to customer service and both times told the pesos never made it here. Back in Phoenix, Wells Fargo tells my son they have documented proof that Banco Popular received the pesos. After several trips to the bank, Wells Fargo said they are going to TAKE the money back from Popular and return it to my son. I am now looking for an honest bank here LOL HA HA HA, Please excuse me, I am laughing uncontrolibly. OK, I have composed myself. I need a bank that accepts U.S. wire transfers, any suggestions?
 
Feb 7, 2007
8,005
625
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MScott09: Happened to me the same thing, at Banco Leon http://www.dr1.com/forums/living/88354-warning-victim-atm-fraud.html
I, too, have not seen the money back. The sticker fraud is widespread in the DR. The person you spoke with with after calling the number on sticker was a fraudster. My money, they got it within several minutes after I left the card in, before getting home and calling the bank to cancel the card (10 minutes) - my cellphone had no charge. But i would not have called the number on the sticker anyway, I know the bank's toll free number by heart. But I did, however, stupidly punched in the keys the sticker instructed.
 

SKing

Silver
Nov 22, 2007
3,750
183
63
I was due a refund from my kids school and they gave me a check....a DOMINICAN check drawn on a DOMINICAN bank, I deposited it into my account in Banco Popular and it took 4 f***ing weeks for the check to clear. I mean, what the %&$#! 4 weeks!!!
SHALENA
Also, I opened an "Ahorros en Dolares" at Banco Popular in which you have to keep $500 USD so that's all I put in there. Never have touched the thing and went to the bank this morning to deposit a little more and the balance was $459. When asking why, I was told that the bank charged me $1 for some sort of service (no one seems to know what it is) which put my account balance to $499 and then subsequently charged me $10 per month for having the account under the minimum balance.
What the &%$#!!
SHALENA
 

whirleybird

Silver
Feb 27, 2006
3,264
322
83
We also had a US $ account with Banco Popular and decided to close it - not as easy as it sounds as Mr. WB who was the first named account holder was in the UK. Easy solution was to withdraw all the $ apart from $1 which they soon ate up in charges - hence account closed!
 

waytogo

Moderator - North Coast Forum
Apr 3, 2009
6,407
580
113
Santiago DR
I was due a refund from my kids school and they gave me a check....a DOMINICAN check drawn on a DOMINICAN bank, I deposited it into my account in Banco Popular and it took 4 f***ing weeks for the check to clear. I mean, what the %&$#! 4 weeks!!!
SHALENA
Also, I opened an "Ahorros en Dolares" at Banco Popular in which you have to keep $500 USD so that's all I put in there. Never have touched the thing and went to the bank this morning to deposit a little more and the balance was $459. When asking why, I was told that the bank charged me $1 for some sort of service (no one seems to know what it is) which put my account balance to $499 and then subsequently charged me $10 per month for having the account under the minimum balance.
What the &%$#!!
SHALENA

Whenever you think that every base has been covered on getting cheated, out comes another con. The one thing that really got my goat back in the U.S. was when MY bank started CHARGING MY EMPLOYEES 5.00 for cashing their payroll check because they didn?t have an account there. Even though the payroll check was drawn on the same bank. Banks just don?t know when enough is enough.
 

El Tigre

El Tigre de DR1 - Moderator
Jan 23, 2003
2,306
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I was due a refund from my kids school and they gave me a check....a DOMINICAN check drawn on a DOMINICAN bank, I deposited it into my account in Banco Popular and it took 4 f***ing weeks for the check to clear. I mean, what the %&$#! 4 weeks!!!
SHALENA
Also, I opened an "Ahorros en Dolares" at Banco Popular in which you have to keep $500 USD so that's all I put in there. Never have touched the thing and went to the bank this morning to deposit a little more and the balance was $459. When asking why, I was told that the bank charged me $1 for some sort of service (no one seems to know what it is) which put my account balance to $499 and then subsequently charged me $10 per month for having the account under the minimum balance.
What the &%$#!!
SHALENA

Shame...and I was thinking about opening an USD account there. Hey...can you answer my PM? :cheeky:
 

SantiagoDR

The "REAL" SantiagoDR
Jan 12, 2006
5,808
948
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I would NEVER use an ATM in the Dominican Republic, too many horror stories about them.
Why do so many Dominicans wait in long lines to do their banking business?

Hmmmmm!

I don't think there is a problem with having a Dollar account in the D.R.
Just pay attention to your account and keep it ABOVE the minimum by several dollars at the least. Don't let it go dormant.


SantiagoDR
Murphy's Lesser Known law:
Light travels faster than sound. This is why some people appear bright until you hear them speak.
 

bienamor

Kansas redneck an proud of it
Apr 23, 2004
5,050
458
83
Next time

I was due a refund from my kids school and they gave me a check....a DOMINICAN check drawn on a DOMINICAN bank, I deposited it into my account in Banco Popular and it took 4 f***ing weeks for the check to clear. I mean, what the %&$#! 4 weeks!!!
SHALENA
Also, I opened an "Ahorros en Dolares" at Banco Popular in which you have to keep $500 USD so that's all I put in there. Never have touched the thing and went to the bank this morning to deposit a little more and the balance was $459. When asking why, I was told that the bank charged me $1 for some sort of service (no one seems to know what it is) which put my account balance to $499 and then subsequently charged me $10 per month for having the account under the minimum balance.
What the &%$#!!
SHALENA

Next time go to the bank the check is drawn on, cash it there, and deposit the money in your normal bank. little more trouble but worth it, at least you get the money the same day. I bank at BHD, and have done this at popular,an citi here in santo domingo
 

SantiagoDR

The "REAL" SantiagoDR
Jan 12, 2006
5,808
948
113
Next time go to the bank the check is drawn on, cash it there, and deposit the money in your normal bank. little more trouble but worth it, at least you get the money the same day. I bank at BHD, and have done this at popular,an citi here in santo domingo

Great advice.

I forgot about that, been ages since I had gotten a Dominican check, but that is what we did.
I have only had 2 checks in the 12 years I have been here.


SantiagoDR
 

El Tigre

El Tigre de DR1 - Moderator
Jan 23, 2003
2,306
57
0
I would NEVER use an ATM in the Dominican Republic, too many horror stories about them.
Why do so many Dominicans wait in long lines to do their banking business?

Hmmmmm!

You know SantiagoDR...leave it to an expat with a lot of experience on such things to point this out. When I have gone to withdraw money at Banco Popular with my Citibank card I always noticed the long line. Never really understood why people would make a line to get money when they can easily use the ATM until now (they don't trust the damn machines).

In my case if I were to make the line the money would probably be withdrawn as a cash advance from my checking account (I have a debit card). This means that I'd be charge a higher fee than using the ATM (although I am not 100% sure, I'll check with citi). If it's the same fee getting on the line and waiting for half hour as using the ATM...I'M GETTING ON LINE!!!

On another note...I have never had any issues withdrawing money from a Banco Popular ATM. I have withdrawn money in about 4 different locations in Santiago. Once in Las Terrenas, Cabarete and La Capital. I guess I have been lucky?
 

pedrochemical

Silver
Aug 22, 2008
3,410
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Also, I opened an "Ahorros en Dolares" at Banco Popular in which you have to keep $500 USD so that's all I put in there. Never have touched the thing and went to the bank this morning to deposit a little more and the balance was $459. When asking why, I was told that the bank charged me $1 for some sort of service (no one seems to know what it is) which put my account balance to $499 and then subsequently charged me $10 per month for having the account under the minimum balance.
What the &%$#!!
SHALENA


That is just mean!
 

waytogo

Moderator - North Coast Forum
Apr 3, 2009
6,407
580
113
Santiago DR
Went to Banco Polular today to take out 65 Mil. The teller counted the money TWICE to make sure it was correct. She then pushed the money to me and I told her I wanted to count again. I counted the money on HER side of the glass window. I counted 64 Mi. She looked at me, pulled out 1 Mil out of the drawer and said, I thought there was only 64. She was hoping I would put the money in my pocket after she counted twice and she would make a fast 1000 pesos. I don?t know who to trust anymore. Do they do this to everybody, or do they just think Americanos are that stupid?
 

waytogo

Moderator - North Coast Forum
Apr 3, 2009
6,407
580
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Santiago DR
I'm sorry, I have a really, really hard time believing this.


Did you say anything to the manager? Or are you sure they're "in on it" too?

Why would you have a hard time believing this. Are you saying I am lieing.
My girlfriend was next to me and she thought exactly the same thing. If you like, I will take you to the same teller and you can ask her her reasons for doing this. I didn?t go to the manager because it would have been fruitless and time consuming because I believe I would have gotten meaningless excuses. You sound like you own stock in Popular. And what do you mean
?N ON IT. I didn?t accuse anyone else of doing anything or is your imagination running amuck. Mine isn?t now or at the bank. SHE COUNTED THE MONEY TWICE. Then after I counted, she said I thought there was 64. WHAT!!!! What would you think? If she can?t count pesos correct on 2 turnarounds then she is guilty of stupidity and shouldn?t be a teller. I stick to the facts of what happened and who tried perpetrating it. I never said anyone else was involved. Has the world been after you ?IN ON IT? That was such a stupid thing to say.
 
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AnnaC

Gold
Jan 2, 2002
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We do it at home so why not in a third world country. You always count your money in front of the teller before leaving any bank in any country.

Carry on!