Again info about Certificate or deposit money in DR bank

[pauleast]

yea ...so....the guys who committed the fraud got rich

 

[Virgo]

Banreservas is Government owned and backed.

But if you lose your money there the whole Country will be down the tubes anyway.

Putting money in Banreservas because it's the government's bank is understandable. Some Dominicans will AVOID Banreservas for that very reason, since politics can contaminate and distort the decision-making of any government institution.

The statement that if one loses money with Banreservas "the whole Country will be down the tubes" is definitely a wrong implication.

The families and groups behind CERTAIN Dominican banks are in fact in FAR more solid financial position than the government itself. They certainly owe less money (probably have a positive net worth) and do not run a yearly deficit.

The government may get in big financial problem without THEY collapsing or failing to honor their commitments.

 

[waytogo]

Hi,

Considering all the comments (good and not good) about this topic, how can i know which banks are reliable? As new client for the banks and a new person who want to live in DR, all
employees in the bank will try to show only the right and nice "side" to have a good impact to me. Anyhow in your opinion, do you have a short list of reliable banks to visit ? It could be helpful thanks.

F, most everyone here can only tell you of their own personal experiences in a DR bank.......
I have been with Banco Popular for 10 years, money transfers, 2 savings accounts and their Visa credit card, to this day, not a single problem.

 

[Virgo]

F, most everyone here can only tell you of their own personal experiences in a DR bank.....

We can certainly advise on "service issues", like queues, fees, etc.
However, to determine how solid a bank is as a prospective holder of large CD's, he should do a more profound search on "reliable sorces" as I suggested earlier.

I happen to think Popular has an excellent track record in that regard, but for such matters he shouldn't trust me or any anonymous poster.

 

[Bigocean]

Hi,

Considering all the comments (good and not good) about this topic, how can i know which banks are reliable? As new client for the banks and a new person who want to live in DR, all
employees in the bank will try to show only the right and nice "side" to have a good impact to me. Anyhow in your opinion, do you have a short list of reliable banks to visit ? It could be helpful thanks.

Fitch report from last August:

http://www.fitchca.com/ArchivosHTML/RepEsp_2178.pdf

 

[fiocco]

Thanks for your comment, it is useful.
It seems Banco Popular is one of the bank quoted as good for some members of this forum.

 

[Bronxboy]

Thanks for your comment, it is useful.
It seems Banco Popular is one of the bank quoted as good for some members of this forum.

Your welcome.