Account in Dominican Bank in US Dollars

[bachata]

I move USD from the 🇺🇲 to the 🇩🇴 using a wire transfer.
My outgoing bank charges a fee and my incoming bank charges a fee.
Fees are how banks make their money (along with interest on loans).
If you want to make transactions to move money, you gotta pay them.
Just structure your arrangements in a way that you pay the least about of fees that allow you to accomplish your objectives.

I have a friend that moves his USD from the 🇺🇲 to the 🇩🇴 using XZOOM.
You can Moneygram and Western Union money to yourself.
And when I needed to do laundry in small amounts 10G cash can be hand carried.
I suggest a body money carrier.
If you need to carry more just declare it (and a good reason why you need it and explanation of where it came from).
And make sure you have armed escort that you trust picking you up at the airport.

Yes but avoid those early Jet Blue flights if are landing with ten Grand in your pockets.

JJ

 

[David B]

I'm sure you all know this, but the only bank that didn't require a long list of crap to open an account was Banreservas. Scotia and Popular wanted a letter of good standing from my bank--among many other things--in the US, which is something they had never heard of. So I just bagged it.

 

[David B]

Yes but avoid those early Jet Blue flights if are landing with ten Grand in your pockets.

JJ

Haha I live near the Cibao airport and prefer not to have my tires shot out first thing when I arrive.

 

[johne]

Overhead baggage or under the seat baggage is your friend and it cost nothing.

 

[Radical]

I'm sure you all know this, but the only bank that didn't require a long list of crap to open an account was Banreservas. Scotia and Popular wanted a letter of good standing from my bank--among many other things--in the US, which is something they had never heard of. So I just bagged it.

Welcome to the stupidity at its best!

But do not blame the banks, I too struggled with this at first; the reason behind this and many other absurd requirements in this country is due to the lack of honesty and transparency in the conduct of many of its people.

The USA is a honesty/ethic based system - that would not work here because everyone here though process is to be the most "vivo," the most "tigre" possible.

No wonder the requirements to ask for so many papers, letters, legalization, stamps, seals, signatures, etc, etc,etc

 

[johne]

I'm sure you all know this, but the only bank that didn't require a long list of crap to open an account was Banreservas. Scotia and Popular wanted a letter of good standing from my bank--among many other things--in the US, which is something they had never heard of. So I just bagged it.

I did the same for a long time until I got some smarts. I learned what bank was the bank of my LL. I asked him who handles the account. Went to the bank and said I was recommended here by Mr. xxx. Here is my PP and here is a statemnet from last month from my bank in the states. Welcome Mr. John sit down and let me do the paper work for you.

 

[cavok]

I'm sure you all know this, but the only bank that didn't require a long list of crap to open an account was Banreservas. Scotia and Popular wanted a letter of good standing from my bank--among many other things--in the US, which is something they had never heard of. So I just bagged it.

Unless it's changed recently, Banco Santa Cruz was also pretty easy to open an account. It did want a letter of good standing though.

 

[bob saunders]

I have one with Banresrevas. You need to keep it above USD$300. With other banks, I've heard it's USD$500.

Yes, BHD is 500 minimum balance.

 

[bachata]

Yes, BHD is 500 minimum balance.

But most people don't have $500. On theirs name.
I learned from a news channel here in the US!

JJ

 

[JD Jones]

But most people don't have $500. On theirs name.
I learned from a news channel here in the US!

JJ

Ha ha... right.